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<!DOCTYPE html> <html lang="en">  <head data-release=055ddd3e data-node="www19.us.archive.org"> <title>Full text of "International Bank Note Society Journal (Issue 1, 2006)"</title> <meta name="viewport" content="width=device-width, initial-scale=1.0"/> <meta name="google-site-verification" content="Q2YSouphkkgHkFNP7FgAkc4TmBs1Gmag3uGNndb53B8" /> <meta name="google-site-verification" content="bpjKvUvsX0lxfmjg19TLblckWkDpnptZEYsBntApxUk" /> <script nonce="**CSP_NONCE**" > /* @licstart The following is the entire license notice for the * JavaScript code in this page. * * This program is free software: you can redistribute it and/or modify * it under the terms of the GNU Affero General Public License as published by * the Free Software Foundation, either version 3 of the License, or * (at your option) any later version. * * This program is distributed in the hope that it will be useful, * but WITHOUT ANY WARRANTY; without even the implied warranty of * MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. 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scope="media-button-1">.media-button-1 a.media-button { display: inline-block; text-decoration: none; } .media-button-1 .menu-item.media-button { display: inline-block; width: 100%; padding: 0; font-size: 1.6rem; text-align: left; background: transparent; -webkit-box-align: center; -ms-flex-align: center; align-items: center; } .media-button-1 .menu-item.media-button:focus { outline: none; } .media-button-1 .label.media-button { display: inline-block; padding: 0; font-weight: 400; color: #fff; text-align: left; vertical-align: middle; } .media-button-1 .menu-item.media-button > .icon.media-button { display: inline-flex; vertical-align: middle; -webkit-box-align: center; -ms-flex-align: center; align-items: center; -webkit-box-pack: center; -ms-flex-pack: center; justify-content: center; } .media-button-1 .menu-item.media-button > .icon.media-button > svg.media-button { height: 4rem; width: 4rem; } .media-button-1 .menu-item.selected.media-button .icon.media-button { background-color: 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color: inherit; } .media-button-1 .web.media-button:after { display: none; content: "web"; } .media-button-1 .donate.media-button,.media-button-1 .more.media-button { display: none; } .media-button-1 .menu-item.selected.media-button { background: #474747; } .media-button-1 .menu-item.selected.media-button .label.media-button,.media-button-1 .menu-item.selected.web.media-button:after { color: #fff; } .media-button-1 .menu-item.selected.media-button .icon.media-button { background: transparent; } .media-button-1 .web.selected.media-button .fill-color.media-button { fill: #ffcd27; } .media-button-1 .texts.selected.media-button .fill-color.media-button { fill: #faab3c; } .media-button-1 .video.selected.media-button .fill-color.media-button { fill: #f1644b; } .media-button-1 .audio.selected.media-button .fill-color.media-button { fill: #00adef; } .media-button-1 .software.selected.media-button .fill-color.media-button { fill: #9ecc4f; } .media-button-1 .images.selected.media-button .fill-color.media-button { fill: #aa99c9; } } @media (min-width: 1200px) { .media-button-1 .label.media-button,.media-button-1 .web.media-button:after { display: inline; } .media-button-1 .web.media-button .label.media-button { display: none; } }</style><style scope="media-menu-1">.media-menu-1 { outline: none; } .media-menu-1 .media-menu-inner.media-menu { z-index: -1; top: -40rem; background-color: #222; margin: 0; overflow: hidden; transition-duration: 0.2s; transition-property: top; transition-timing-function: ease; } .media-menu-1 .menu-group.media-menu { position: relative; line-height: normal; } @media (max-width: 889px) { .media-menu-1 .media-menu-inner.media-menu { position: absolute; width: 100%; } .media-menu-1 .open.media-menu .media-menu-inner.media-menu { top: 0; } .media-menu-1 .overflow-clip.media-menu { position: absolute; z-index: -1; top: 4rem; left: 0; height: 0; width: 100%; overflow: hidden; transition-duration: 0.2s; transition-property: height; } .media-menu-1 .open.media-menu .overflow-clip.media-menu { height: 40rem; } } @media (min-width: 890px) { .media-menu-1 .media-menu-inner.media-menu { display: block; position: static; width: auto; height: 5rem; transition-property: none; } .media-menu-1 .menu-group.media-menu { font-size: 0; } }</style><style scope="primary-nav-1">.primary-nav-1 button.primary-nav:focus,.primary-nav-1 input.primary-nav:focus { outline: none; } .primary-nav-1 nav.primary-nav { position: relative; display: flex; height: 4rem; grid-template-areas: 'hamburger empty heart search user'; -ms-grid-columns: 4rem minmax(1rem, 100%) 4rem 4rem 4rem; grid-template-columns: 4rem auto 4rem 4rem 4rem; -ms-grid-rows: 100%; grid-template-rows: 100%; background: #222; border-bottom: 1px solid #333; } .primary-nav-1 nav.hide-search.primary-nav { grid-template-areas: 'hamburger empty heart user'; -ms-grid-columns: 4rem minmax(1rem, 100%) 4rem 4rem; grid-template-columns: 4rem auto 4rem 4rem; } .primary-nav-1 .right-side-section.primary-nav { display: flex; margin-left: auto; user-select: none; } .primary-nav-1 button.primary-nav { background: none; color: inherit; border: none; font: inherit; cursor: pointer; } .primary-nav-1 .branding.primary-nav { position: static; float: left; margin: 0 !important; padding: 0 5px 0 10px; -webkit-transform: translate(0, 0); -ms-transform: translate(0, 0); transform: translate(0, 0); } .primary-nav-1 slot.primary-nav,.primary-nav-1 .branding.primary-nav { display: flex; justify-content: left; align-items: center; } .primary-nav-1 media-menu.primary-nav { grid-column-start: hamburger-start; grid-column-end: user-end; } .primary-nav-1 .ia-logo.primary-nav { height: 3rem; width: 2.7rem; display: inline-block; } .primary-nav-1 .ia-wordmark.primary-nav { height: 3rem; width: 9.5rem; } .primary-nav-1 .ia-logo.primary-nav,.primary-nav-1 .ia-wordmark.primary-nav { margin-right: 5px; } .primary-nav-1 .hamburger.primary-nav { -ms-grid-row: 1; -ms-grid-column: 1; grid-area: hamburger; padding: 0; } .primary-nav-1 .hamburger.primary-nav svg.primary-nav { height: 4rem; width: 4rem; fill: #fff; } .primary-nav-1 .mobile-donate-link.primary-nav { display: inline-block; } .primary-nav-1 .mobile-donate-link.primary-nav svg.primary-nav { height: 4rem; width: 4rem; } .primary-nav-1 .mobile-donate-link.primary-nav .fill-color.primary-nav { fill: rgb(255, 0, 0); } .primary-nav-1 .sr-only.primary-nav { position: absolute; width: 1px; height: 1px; margin: -1px; padding: 0; border: 0; overflow: hidden; white-space: nowrap; clip: rect(1px, 1px, 1px, 1px); -webkit-clip-path: inset(50%); clip-path: inset(50%); user-select: none; } .primary-nav-1 .search-trigger.primary-nav { padding: 0; } .primary-nav-1 .search-trigger.primary-nav svg.primary-nav { height: 4rem; width: 4rem; } .primary-nav-1 .search-trigger.primary-nav .fill-color.primary-nav { fill: #999; } .primary-nav-1 .search-activated.primary-nav { position: relative; z-index: 3; } .primary-nav-1 .upload.primary-nav { display: none; } .primary-nav-1 .upload.primary-nav span.primary-nav { display: none; } .primary-nav-1 .upload.primary-nav svg.primary-nav { height: 3rem; width: 3rem; } .primary-nav-1 .screen-name.primary-nav { display: none; font-size: 1.3rem; vertical-align: middle; text-transform: uppercase; } .primary-nav-1 .user-menu.primary-nav { color: #999; padding: 0.5rem; height: 100%; } .primary-nav-1 button.user-menu.primary-nav:hover,.primary-nav-1 button.user-menu.primary-nav:focus { color: #fff; outline: none; } .primary-nav-1 .user-menu.active.primary-nav { border-radius: 1rem 1rem 0 0; background: #333; } .primary-nav-1 .user-menu.primary-nav img.primary-nav { display: block; width: 3rem; height: 3rem; } .primary-nav-1 .link-home.primary-nav { text-decoration: none; display: inline-flex; } .primary-nav-1 a.link-home.primary-nav:focus,.primary-nav-1 a.link-home.primary-nav:focus-visible { outline-offset: 1px; } @media only screen and (min-width: 890px) and (max-device-width: 905px) { .primary-nav-1 .branding.second-logo.primary-nav { padding-right: 0; } } @media (min-width: 906px) { .primary-nav-1 .branding.second-logo.primary-nav { padding-right: 20px; } } @media (max-width: 889px) { .primary-nav-1 slot.primary-nav[name='opt-sec-logo'] { display: none; } .primary-nav-1 .right-side-section.primary-nav { display: initial; } .primary-nav-1 .right-side-section.primary-nav .user-info.primary-nav { float: right; } } @media (min-width: 890px) { .primary-nav-1 { ; } .primary-nav-1 nav.primary-nav { display: flex; z-index: 4; height: 5rem; padding-right: 1.5rem; } .primary-nav-1 slot.primary-nav[name='opt-sec-logo-mobile'] { display: none; } .primary-nav-1 .ia-logo.primary-nav,.primary-nav-1 .ia-wordmark.primary-nav { margin-right: 10px; } .primary-nav-1 .hamburger.primary-nav,.primary-nav-1 .search-trigger.primary-nav,.primary-nav-1 .mobile-donate-link.primary-nav { display: none; } .primary-nav-1 .user-info.primary-nav { display: block; float: right; vertical-align: middle; height: 100%; } .primary-nav-1 .user-info.primary-nav .user-menu.primary-nav img.primary-nav { height: 3rem; width: 3rem; margin-right: 0.5rem; } .primary-nav-1 .user-menu.primary-nav { padding: 1rem 0.5rem; } .primary-nav-1 .user-menu.active.primary-nav { background: transparent; } .primary-nav-1 .user-menu.primary-nav img.primary-nav { display: inline-block; vertical-align: middle; margin-right: 0.5rem; } .primary-nav-1 .upload.primary-nav { display: block; padding: 1rem 0.5rem; float: right; font-size: 1.4rem; text-transform: uppercase; text-decoration: none; color: #999; } .primary-nav-1 .upload.primary-nav:active,.primary-nav-1 .upload.primary-nav:focus,.primary-nav-1 .upload.primary-nav:hover { color: #fff; } .primary-nav-1 .upload.primary-nav:focus-visible { outline: none; } .primary-nav-1 .upload.primary-nav svg.primary-nav { vertical-align: middle; fill: #999; } .primary-nav-1 .upload.primary-nav:hover svg.primary-nav,.primary-nav-1 .upload.primary-nav:focus svg.primary-nav,.primary-nav-1 .upload.primary-nav:active svg.primary-nav { fill: #fff; } .primary-nav-1 nav-search.primary-nav { float: right; margin-left: 1rem; } } @media (min-width: 990px) { .primary-nav-1 .screen-name.primary-nav { display: inline-block; text-overflow: ellipsis; overflow: hidden; white-space: nowrap; max-width: 165px; } .primary-nav-1 .upload.primary-nav span.primary-nav { display: inline; } }</style><style scope="search-menu-1">.search-menu-1 .menu-wrapper.search-menu { position: relative; } .search-menu-1 button.search-menu:focus,.search-menu-1 input.search-menu:focus { outline-color: #428bca; outline-width: 0.16rem; outline-style: auto; outline-offset: 2px !important; } .search-menu-1 .search-menu-inner.search-menu { position: absolute; right: 0; left: 0; z-index: 4; padding: 0 4.5rem; font-size: 1.6rem; background-color: #333; } .search-menu-1 .tx-slide.search-menu { overflow: hidden; transition-property: top; transition-duration: 0.2s; transition-timing-function: ease; } .search-menu-1 .initial.search-menu,.search-menu-1 .closed.search-menu { top: -1500px; } .search-menu-1 .closed.search-menu { transition-duration: 0.2s; } .search-menu-1 label.search-menu,.search-menu-1 a.search-menu { padding: 1rem; display: block; } .search-menu-1 .advanced-search.search-menu { text-decoration: none; color: #428bca; line-height: normal; padding: 0.5rem; margin-top: 5px; } @media (min-width: 890px) { .search-menu-1 .search-menu-inner.search-menu { overflow: visible; right: 2rem; left: auto; z-index: 5; padding: 1rem 2rem; transition: opacity 0.2s ease-in-out; font-size: 1.4rem; color: #333; border-radius: 2px; background: #fff; box-shadow: 0 1px 2px 1px rgba(0, 0, 0, 0.15); } .search-menu-1 .search-menu-inner.search-menu:after { position: absolute; right: 7px; top: -7px; width: 12px; height: 7px; box-sizing: border-box; color: #fff; content: ''; border-bottom: 7px solid currentColor; border-left: 6px solid transparent; border-right: 6px solid transparent; } .search-menu-1 .initial.search-menu,.search-menu-1 .closed.search-menu { opacity: 0; transition-duration: 0.2s; } .search-menu-1 .open.search-menu { opacity: 1; } .search-menu-1 label.search-menu { padding: 0; font-weight: normal; margin: 0; } .search-menu-1 label.search-menu + label.search-menu { padding-top: 7px; } .search-menu-1 a.search-menu { padding: 1rem 0 0 0; } }</style><style scope="wayback-search-1">.wayback-search-1 { font: normal 1.2rem/1.5 'Helvetica Neue', Helvetica, Arial, sans-serif; } .wayback-search-1 form.wayback-search { max-width: 600px; } .wayback-search-1 p.wayback-search { margin-top: 0; font-weight: 200; } .wayback-search-1 a.wayback-search { font-weight: 500; text-decoration: none; color: #fff; } .wayback-search-1 fieldset.wayback-search { padding: 0.7rem 2rem; margin: 1.5rem 0; box-sizing: border-box; text-align: center; border: none; border-radius: 7px; background-color: #fcf5e6; box-shadow: 3px 3px 0 0 #c3ad97; } .wayback-search-1 label.wayback-search { display: none; } .wayback-search-1 img.wayback-search { width: 100%; max-width: 215px; max-height: 60px; margin-bottom: 1.3rem; vertical-align: middle; } .wayback-search-1 input.wayback-search { display: block; width: 100%; height: 3rem; padding: 0.5rem 1rem 0.5rem 2.5rem; font: normal 1.2rem/1.5 'Helvetica Neue', Helvetica, Arial, sans-serif; color: #858585; box-sizing: border-box; border: 1px solid #ccc; border-radius: 2rem; background: #eee; } .wayback-search-1 input.wayback-search:focus { border-color: #66afe9; box-shadow: inset 0 1px 1px rgba(0, 0, 0, 0.075), 0 0 8px rgba(102, 175, 233, 0.6); outline: none; } .wayback-search-1 .search-field.wayback-search { position: relative; overflow: hidden; } .wayback-search-1 .search-field.wayback-search svg.wayback-search { position: absolute; top: 2px; left: 3px; width: 2.4rem; height: 2.4rem; } .wayback-search-1 .search-field.wayback-search .fill-color.wayback-search { fill: #999; } .wayback-search-1 input.wayback-search:focus + svg.wayback-search { display: none; } @media (min-width: 890px) { .wayback-search-1 form.wayback-search { margin: 0 auto; } .wayback-search-1 p.wayback-search { margin-bottom: 3rem; font-size: 1.6rem; text-align: center; } .wayback-search-1 img.wayback-search { margin: 0; } .wayback-search-1 fieldset.wayback-search { margin: 0 auto; font-size: 0; } .wayback-search-1 fieldset.wayback-search a.wayback-search,.wayback-search-1 .search-field.wayback-search { display: inline-block; width: 50%; vertical-align: middle; } .wayback-search-1 fieldset.wayback-search a.wayback-search { text-align: center; } .wayback-search-1 .search-field.wayback-search svg.wayback-search { width: 2.8rem; height: 2.8rem; } .wayback-search-1 .search-field.wayback-search .fill-color.wayback-search { fill: #333; } } .wayback-search-1 p.wayback-search { margin-bottom: 1rem; font-size: 1.6rem; text-align: center; } .wayback-search-1 fieldset.wayback-search { padding: .5rem; border-radius: 5px; box-shadow: none; } .wayback-search-1 input.wayback-search { padding-left: 3rem; margin-top: .3rem; font-size: 1.4rem; border-color: #bca38e; background: #fff; } .wayback-search-1 input.wayback-search::placeholder,.wayback-search-1 input.wayback-search::-webkit-input-placeholder { color: #8e8e8e; } .wayback-search-1 .search-field.wayback-search svg.wayback-search { top: 50%; transform: translateY(-50%); } @media (min-width: 890px) { .wayback-search-1 fieldset.wayback-search a.wayback-search,.wayback-search-1 .search-field.wayback-search { display: block; width: auto; } .wayback-search-1 fieldset.wayback-search a.wayback-search { margin: 0 1.5rem; } }</style><style scope="save-page-form-1">.save-page-form-1 div.save-page-form { display: grid; grid-template-columns: 1fr auto; grid-column-gap: .8rem; margin: 0; padding: 0; border: none; } .save-page-form-1 input.save-page-form[type="text"] { width: 100%; height: 3rem; box-sizing: border-box; border: 1px solid #999; border-radius: .5rem; color: #222; font-size: inherit; } .save-page-form-1 input.save-page-form[type="submit"] { -webkit-appearance: none; -moz-appearance: none; appearance: none; padding: .4rem .8rem; font: normal 1.3rem 'Helvetica Neue', Helvetica, Arial, sans-serif; text-transform: uppercase; color: #fff; border: none; border-radius: 16px; background: #222; cursor: pointer; } .save-page-form-1 .error.save-page-form { display: none; margin-top: .5rem; font-weight: bold; color: #ffcd27; } .save-page-form-1 .visible.save-page-form { display: block; } @media (min-width: 890px) { .save-page-form-1 h3.save-page-form { margin-top: 0; font: normal 100 1.6rem 'Helvetica Neue', Helvetica, Arial, sans-serif; } }</style><style scope="wayback-slider-1">.wayback-slider-1 h4.wayback-slider { font-size: 1.6rem; } .wayback-slider-1 a.wayback-slider { text-decoration: none; color: #fff; } .wayback-slider-1 ul.wayback-slider { padding: 0; margin: 0; list-style: none; } .wayback-slider-1 li.wayback-slider + li.wayback-slider { padding-top: 1.5rem; } @media (min-width: 890px) { .wayback-slider-1 h4.wayback-slider { margin: 0 0 1rem 0; font-weight: 100; } .wayback-slider-1 ul.wayback-slider { font-size: 1.3rem; } .wayback-slider-1 li.wayback-slider { padding-bottom: .5rem; } .wayback-slider-1 li.wayback-slider + li.wayback-slider { padding-top: 0; } .wayback-slider-1 li.wayback-slider a.wayback-slider { display: block; overflow: hidden; white-space: nowrap; text-overflow: ellipsis; } } @media (min-width: 890px) { .wayback-slider-1 { display: block; grid-column: 1 / 4; padding: 0 1.5rem; } .wayback-slider-1 h4.wayback-slider { margin-top: 0; font: normal 100 1.6rem 'Helvetica Neue', Helvetica, Arial, sans-serif; } .wayback-slider-1 .grid.wayback-slider { display: grid; grid-template-columns: minmax(auto, 260px) 1fr minmax(auto, 260px); grid-column-gap: 2.5rem; } .wayback-slider-1 .link-lists.wayback-slider { display: grid; grid-template-columns: calc(50% - 1.25rem) calc(50% - 1.25rem); grid-column-gap: 2.5rem; } }</style><style scope="more-slider-1">.more-slider-1 ul.more-slider { padding: 0; margin: -1rem 0 0 0; list-style: none; } .more-slider-1 a.more-slider { display: block; padding: 1rem 0; text-decoration: none; color: #fff; }</style><style scope="media-subnav-1">.media-subnav-1 h4.media-subnav { font-size: 1.6rem; } .media-subnav-1 a.media-subnav { text-decoration: none; color: #fff; } .media-subnav-1 ul.media-subnav { padding: 0; margin: 0; list-style: none; } .media-subnav-1 li.media-subnav + li.media-subnav { padding-top: 1.5rem; } @media (min-width: 890px) { .media-subnav-1 h4.media-subnav { margin: 0 0 1rem 0; font-weight: 100; } .media-subnav-1 ul.media-subnav { font-size: 1.3rem; } .media-subnav-1 li.media-subnav { padding-bottom: .5rem; } .media-subnav-1 li.media-subnav + li.media-subnav { padding-top: 0; } .media-subnav-1 li.media-subnav a.media-subnav { display: block; overflow: hidden; white-space: nowrap; text-overflow: ellipsis; } } .media-subnav-1 img.media-subnav { display: block; width: 90px; height: 90px; margin: 0 auto 1rem auto; border-radius: 45px; } .media-subnav-1 h3.media-subnav { margin-top: 0; font-size: 1.8rem; } .media-subnav-1 .icon-links.media-subnav { display: -webkit-box; display: -ms-flexbox; display: flex; -webkit-box-pack: space-evenly; -ms-flex-pack: space-evenly; justify-content: space-evenly; text-align: center; } .media-subnav-1 .icon-links.media-subnav a.media-subnav { display: inline-block; width: 12rem; margin-bottom: 1.5rem; overflow: hidden; white-space: nowrap; text-align: center; text-overflow: ellipsis; } .media-subnav-1 .icon-links.media-subnav a.media-subnav + a.media-subnav { margin-left: 2rem; } .media-subnav-1 .featured.media-subnav h4.media-subnav { display: none; } @media (min-width: 890px) { .media-subnav-1 { display: -ms-grid; display: grid; -ms-grid-columns: 40% 20% 40%; grid-template-columns: 40% 20% 40%; } .media-subnav-1 .wayback-search.media-subnav { -ms-grid-column: 1; -ms-grid-column-span: 3; grid-column: 1 / 4; } .media-subnav-1 h3.media-subnav { display: none; } .media-subnav-1 .icon-links.media-subnav { -ms-grid-column: 1; } .media-subnav-1 .icon-links.media-subnav a.media-subnav { padding-top: 3.5rem; max-width: 16rem; } .media-subnav-1 .links.media-subnav { padding: 0 1.5rem; } .media-subnav-1 .featured.media-subnav { -ms-grid-column: 2; } .media-subnav-1 .featured.media-subnav h4.media-subnav { display: block; } .media-subnav-1 .top.media-subnav { -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav { display: -ms-grid; display: grid; -ms-grid-columns: 50% 3rem 50%; grid-template-columns: 50% 50%; -ms-grid-rows: (auto)[7]; grid-template-rows: repeat(7, auto); grid-column-gap: 3rem; grid-auto-flow: column; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(1) { -ms-grid-row: 1; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(2) { -ms-grid-row: 2; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(3) { -ms-grid-row: 3; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(4) { -ms-grid-row: 4; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(5) { -ms-grid-row: 5; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(6) { -ms-grid-row: 6; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(7) { -ms-grid-row: 7; -ms-grid-column: 1; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(8) { -ms-grid-row: 1; -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(9) { -ms-grid-row: 2; -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(10) { -ms-grid-row: 3; -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(11) { -ms-grid-row: 4; -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(12) { -ms-grid-row: 5; -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(13) { -ms-grid-row: 6; -ms-grid-column: 3; } .media-subnav-1 .top.media-subnav ul.media-subnav > *.media-subnav:nth-child(14) { -ms-grid-row: 7; -ms-grid-column: 3; } }</style><style scope="media-slider-1">.media-slider-1 .media-slider-container.media-slider { position: relative; } .media-slider-1 .overflow-clip.media-slider { display: none; position: absolute; top: 3rem; right: 0; left: 0; height: 0; overflow: hidden; transition: height 0.2s ease; } .media-slider-1 .information-menu.media-slider { position: absolute; top: 0; right: 0; left: 0; padding: 0; height: 31.9rem; overflow-x: hidden; font-size: 1.4rem; background: #333; } .media-slider-1 .open.media-slider { display: block; } .media-slider-1 .hidden.media-slider { display: none; } .media-slider-1 .info-box.media-slider { padding: 1rem; } @media (max-width: 889px) { .media-slider-1 .overflow-clip.open.media-slider { display: block; height: 35.8rem; left: 4rem; top: 0; } } @media (min-width: 890px) { .media-slider-1 .overflow-clip.media-slider { display: block; } .media-slider-1 .information-menu.media-slider { left: 0; z-index: 3; height: auto; min-height: 21rem; background: #474747; transform: translate(0, -100%); transition: transform 0.2s ease; } .media-slider-1 .overflow-clip.open.media-slider { height: 22rem; } .media-slider-1 .information-menu.open.media-slider { transform: translate(0, 0); } .media-slider-1 .info-box.media-slider { max-width: 100rem; padding: 1.5rem 0; margin: 0 auto; } }</style><style scope="desktop-subnav-1">.desktop-subnav-1 ul.desktop-subnav { position: relative; z-index: 3; padding: .8rem 0; margin: 0; font-size: 1.2rem; text-transform: uppercase; text-align: center; background: #333; } .desktop-subnav-1 li.desktop-subnav { display: inline-block; padding: 0 15px; } .desktop-subnav-1 a.desktop-subnav { text-decoration: none; color: #aaa; } .desktop-subnav-1 a.desktop-subnav:hover,.desktop-subnav-1 a.desktop-subnav:active,.desktop-subnav-1 a.desktop-subnav:focus { color: #fff; } .desktop-subnav-1 .donate.desktop-subnav svg.desktop-subnav { width: 1.6rem; height: 1.6rem; vertical-align: top; fill: #f00; }</style><style scope="signed-out-dropdown-1">.signed-out-dropdown-1 .nav-container.signed-out-dropdown { position: relative; } .signed-out-dropdown-1 nav.signed-out-dropdown { position: absolute; right: 0; z-index: 4; overflow: hidden; font-size: 1.6rem; background-color: #333; transition-property: top; transition-duration: 0.2s; transition-timing-function: ease; } .signed-out-dropdown-1 .initial.signed-out-dropdown,.signed-out-dropdown-1 .closed.signed-out-dropdown { top: -1500px; } .signed-out-dropdown-1 .closed.signed-out-dropdown { transition-duration: 0.5s; } .signed-out-dropdown-1 .open.signed-out-dropdown { max-width: 100vw; overflow: auto; } .signed-out-dropdown-1 h3.signed-out-dropdown { padding: 0.6rem 2rem; margin: 0; font-size: inherit; overflow: hidden; text-overflow: ellipsis; } .signed-out-dropdown-1 ul.signed-out-dropdown { padding: 0.4rem 0 0.7rem 0; margin: 0; list-style: none; max-height: calc(100vh - 7.2rem + 1px); overflow: auto; box-sizing: border-box; } .signed-out-dropdown-1 .divider.signed-out-dropdown { margin: 0.5rem 0; border-bottom: 1px solid #666; } .signed-out-dropdown-1 a.signed-out-dropdown,.signed-out-dropdown-1 .info-item.signed-out-dropdown { display: block; color: #fff; text-decoration: none; padding: 1rem 2rem; } .signed-out-dropdown-1 .info-item.signed-out-dropdown { font-size: 0.8em; color: #999; } .signed-out-dropdown-1 .callout.signed-out-dropdown { position: absolute; margin-left: 10px; padding: 0 5px; border-radius: 2px; background: #fee257; color: #2c2c2c; font-size: 1.4rem; font-weight: bold; } .signed-out-dropdown-1 a.mobile-upload.signed-out-dropdown { display: flex; justify-content: left; align-items: center; } .signed-out-dropdown-1 a.mobile-upload.signed-out-dropdown svg.signed-out-dropdown { fill: #fff; margin-right: 1rem; height: 1.4rem; width: 1.4rem; } @media (min-width: 890px) { .signed-out-dropdown-1 nav.signed-out-dropdown { display: flex; overflow: visible; top: 0; left: auto; z-index: 5; transition: opacity 0.2s ease-in-out; font-size: 1.4rem; border-radius: 2px; background: #fff; box-shadow: 0 1px 2px 1px rgba(0, 0, 0, 0.15); } .signed-out-dropdown-1 nav.signed-out-dropdown:after { position: absolute; right: 7px; top: -7px; width: 12px; height: 7px; box-sizing: border-box; color: #fff; content: ''; border-bottom: 7px solid currentColor; border-left: 6px solid transparent; border-right: 6px solid transparent; } .signed-out-dropdown-1 h3.signed-out-dropdown { display: none; } .signed-out-dropdown-1 ul.signed-out-dropdown { max-height: calc(100vh - 8.5rem + 1px); } .signed-out-dropdown-1 .divider.signed-out-dropdown { border-bottom-color: #666; } .signed-out-dropdown-1 a.signed-out-dropdown { padding: 0.5rem 2rem; color: #333; transition: background 0.1s ease-out, color 0.1s ease-out; } .signed-out-dropdown-1 .info-item.signed-out-dropdown { padding: 0.5rem 2rem; font-size: 0.8em; } .signed-out-dropdown-1 a.signed-out-dropdown:hover,.signed-out-dropdown-1 a.signed-out-dropdown:active,.signed-out-dropdown-1 a.signed-out-dropdown:focus { color: #fff; background: #428bca; outline: none; } .signed-out-dropdown-1 .initial.signed-out-dropdown,.signed-out-dropdown-1 .closed.signed-out-dropdown { opacity: 0; transition-duration: 0.2s; } .signed-out-dropdown-1 .open.signed-out-dropdown { opacity: 1; overflow: visible; } .signed-out-dropdown-1 a.mobile-upload.signed-out-dropdown { display: none; } } @media (min-width: 890px) { .signed-out-dropdown-1 .initial.signed-out-dropdown,.signed-out-dropdown-1 .closed.signed-out-dropdown,.signed-out-dropdown-1 .open.signed-out-dropdown { right: 33.5rem; } .signed-out-dropdown-1 .search-hidden.initial.signed-out-dropdown,.signed-out-dropdown-1 .search-hidden.closed.signed-out-dropdown,.signed-out-dropdown-1 .search-hidden.open.signed-out-dropdown { right: 18.5rem; } } @media (min-width: 990px) { .signed-out-dropdown-1 .initial.signed-out-dropdown,.signed-out-dropdown-1 .closed.signed-out-dropdown,.signed-out-dropdown-1 .open.signed-out-dropdown { right: 40rem; } .signed-out-dropdown-1 .search-hidden.initial.signed-out-dropdown,.signed-out-dropdown-1 .search-hidden.closed.signed-out-dropdown,.signed-out-dropdown-1 .search-hidden.open.signed-out-dropdown { right: 26rem; } }</style><style scope="ia-topnav-1">.ia-topnav-1 { ; color: #fff; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; } .ia-topnav-1 primary-nav.ia-topnav:focus { outline: none !important; } .ia-topnav-1 #close-layer.ia-topnav { display: none; position: fixed; top: 0; right: 0; bottom: 0; left: 0; z-index: 3; } .ia-topnav-1 #close-layer.visible.ia-topnav { display: block; } .ia-topnav-1 .topnav.ia-topnav { position: relative; z-index: 4; } @media (max-width: 889px) { .ia-topnav-1 desktop-subnav.ia-topnav { display: none; } }</style><style>body {transition: opacity ease-in 0.2s; } body[unresolved] {opacity: 0; display: block; overflow: hidden; position: relative; } </style> <ia-topnav locallinks="true" waybackpagesarchived="916 billion" class="x-scope ia-topnav-1"> <div class="topnav style-scope ia-topnav"> <primary-nav class="style-scope ia-topnav x-scope primary-nav-1"> <nav class="style-scope primary-nav"> <button class="hamburger style-scope primary-nav" title="Open main menu" data-event-click-tracking="TopNav|NavHamburger"> <icon-hamburger class="style-scope primary-nav x-scope icon-hamburger-1"> <svg viewBox="0 0 40 40" xmlns="http://www.w3.org/2000/svg" aria-labelledby="hamburgerTitleID hamburgerDescID" class="style-scope icon-hamburger"> <title id="hamburgerTitleID" class="style-scope icon-hamburger">Hamburger icon</title> <desc id="hamburgerDescID" class="style-scope icon-hamburger">An icon used to represent a menu that can be toggled by interacting with this icon.</desc> <path d="m30.5 26.5c.8284271 0 1.5.6715729 1.5 1.5s-.6715729 1.5-1.5 1.5h-21c-.82842712 0-1.5-.6715729-1.5-1.5s.67157288-1.5 1.5-1.5zm0-8c.8284271 0 1.5.6715729 1.5 1.5s-.6715729 1.5-1.5 1.5h-21c-.82842712 0-1.5-.6715729-1.5-1.5s.67157288-1.5 1.5-1.5zm0-8c.8284271 0 1.5.6715729 1.5 1.5s-.6715729 1.5-1.5 1.5h-21c-.82842712 0-1.5-.6715729-1.5-1.5s.67157288-1.5 1.5-1.5z" fill="#999" fill-rule="evenodd" class="style-scope icon-hamburger"></path> </svg> </icon-hamburger> </button> <div class="branding style-scope primary-nav"> <a title="Go home" class="link-home style-scope primary-nav" href="/" data-event-click-tracking="TopNav|NavHome"> <svg class="ia-logo style-scope primary-nav" viewBox="0 0 27 30" xmlns="http://www.w3.org/2000/svg" aria-labelledby="logoTitleID logoDescID"> <title id="logoTitleID" class="style-scope primary-nav">Internet Archive logo</title> <desc id="logoDescID" class="style-scope primary-nav">A line drawing of the Internet Archive headquarters building façade.</desc> <g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd" class="style-scope primary-nav"> <mask id="mask-2" fill="white" class="style-scope primary-nav"> <path d="M26.6666667,28.6046512 L26.6666667,30 L0,30 L0.000283687943,28.6046512 L26.6666667,28.6046512 Z M25.6140351,26.5116279 L25.6140351,28.255814 L1.05263158,28.255814 L1.05263158,26.5116279 L25.6140351,26.5116279 Z M3.62469203,7.6744186 L3.91746909,7.82153285 L4.0639977,10.1739544 L4.21052632,13.9963932 L4.21052632,17.6725617 L4.0639977,22.255044 L4.03962296,25.3421929 L3.62469203,25.4651163 L2.16024641,25.4651163 L1.72094074,25.3421929 L1.55031755,22.255044 L1.40350877,17.6970339 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<div id="close-layer" class="style-scope ia-topnav"></div> </ia-topnav> </div> <input class="js-tvsearch" type="hidden" value='{"ands":[],"minday":"06/04/2009","maxday":"12/02/2024"}'/>  <main id="maincontent"> <div class="container container-ia"> <h1> Full text of "<a href="/details/IBNS_Journal_45_1">International Bank Note Society Journal (Issue 1, 2006)</a>" </h1> <h2 class="pull-right"> <small><a href="/details/IBNS_Journal_45_1">See other formats</a></small> </h2> <br class="clearfix" clear="right"/> <pre> The Bank Notes of Somalia — Part I Volume 45, No. 1,2006 Z/s /Js/, us/rr/- r yj- ^ c 0 \AY4& /' />"// //s ,y OnnTlnntsal Z93S /5 *y#/u/cvi /5 1 lx>t 260, Bank of England, £1000, 15 October 1935, Sold for £32,21 >0 /') \ (<Z ' / /»A i. v* t SK* tv- * \7l 7///.U '&!/*///t SB > />/ ^ ' y - uAfLVl • '-» K i Lot 5, Bank of England, £10, 13 March 1790, Sold for £25,300 Zc/ti/y z/s /JmrrX z/u zjjitm Z.'J/Z .^Z/tf/r/ J7- %'/&rb<-//Z/s J7 v CO I jc>t 38, Bank of England, £100, 27 March 1912, Sold for £43,700 aSjp m SPINK FOUNDED 1666 — THE COLLECTOR'S CHOICE FOR BUYING AND SELLING BANKNOTES The Adil Karouni Collection sold in three parts throughout 2004-2005 Realised: £1,092,900 Now accepting consignments for forthcoming auctions. Please contact Barnaby Faull or Caroline Weiner with any enquiries: tel: +44 (0)20 7563 4084 fax: +44 (0)20 7563 4085 email: cweiner@spink.com 69 Southampton Row, Bloomsbury, London, WC1B 4ET tel: +44 (0)20 7563 4000 fax: +44 (0)20 7563 4066 email: info@spink.com www.spink.com The l.B.N.S. Journal is published quarterly by the International Bank Note Society; a non-profit educational society, and is distributed free of charge to its members. Founded in 1961, the Society now has a member¬ ship of approximately 2200, with representation in over KM) countries. Membership Dues & Fees The current annual dues, in U. S. dol¬ lars, U, K, pounds, and Australian dollars are: Regular membership $33.00 £18 00 AS44H) Family Membership 4 TOO 23-00 55-00 Junior Membership 16.50 9,00 22,00 Life Membership 650.00 360,00 865.00 Applications for all categories of membership may be obtained from the general secretary or an assistant general secretary. Changes of address may be sent to the general secretary, Clive Rice (ad¬ dress next page). Advertisement Rates Size 1 Issue 4 Issues Back cover $450/025 Inside cover $300/£ 165 Full page $250.00/040.00 Half page $140,00/£75-0O Quarter page $75.00/£40,00 Eighth page m00/£25,0ti $1,750/075 $UOO/£fiOO S905.00/£500.00 $475.00/£265,00 S250.00/G40.00 S15G.OO/B5.O0 Classified 50c / .27p per word Minimum $15/£8 Special Position $45,00/£25,00 No agency commissions granted. A 10% discount is allowed provided payment is received with the adver¬ tising copy Lists must arrive camera ready. Special positions: $45 or £25.00 extra, per insertion. Outside backeover (color) $125 (£85) surcharge per insertion. Accounts are due and payable within thirty- days. Classified ads are also accepted- The rate is 50c or 27p per word, minimum 30 words ($15,00 or £8.00). No discounts are allowed for classified advertisements; payment is required in advance. All correspondence relating to ads, including payments and copy, should be addressed to: Joseph E. Boling P.O.Box 4718 Federal Wav, WA 98063^718 (253) 839-5199 FAX (253) 839-5185 E-Mail: joeboling@aolcom Ad deadlines; 1st of January, April, July and Odoba l.B.N.S. Journal Volume 45, No. 1,2006 Editor, Steve Feller Contents President's Message..,..... Editor's Column .........2 Society Officers .......2 Letters to the Editor...,„.,„„4 The Bank Notes of Somalia — Part I.6 by Peter Symes China's Counterfeit Currency and Why It Is Rising ......,,.30 by Masahiw Tomita Occupied Jersey and Guernsey.34 by Steve Feller Rachel Notes Sir Henry Parkes: Father of Federation...39 by Rachel Feller Classified Ads...................42 Articles published in this Journal a re copyrighted and may not be reproduced in any form without written consent of the l.B.N.S. and/or the author. President's Message Dear Members, 'Isolation' is a word that has frequently occurred to me as I undertook my career in bank note collecting. While I have been fortunate to have been involved in nu¬ merous activities with members of the Sydney, Melbourne and Perth chapters of the l.B.N.S, over many years, I have largely put my collection together and taken an interest in paper money while physically isolated from other collectors. 1 know of many instances where bank note collectors have had very little opportunity to meet other bank note collectors, due to their physical isolation. Collectors who are in regular and frequent contact with other collectors should consider themselves fortunate, as isolation is a handicap faced by many collectors throughout the world. While modem communication has increased the opportunity to make contact with collectors of similar interests, there is nothing quite like meeting another collector with similar interests and talking face to face, 1 have been fortunate enough to recently attend the Paper Money Show at Maastricht and there I met a number of collectors with whom I had never met, but with whom I have communicated for some years. Other collectors that l met 1 had encountered only once or twice before. However, for many collectors, the opportunity to meet other collectors remains limited and, in many instances, if they do meet another collector they rarely find someone w ho has the same specific collecting interest as themselves. In our ever-changing world, the I.B.N.5. remains a means whereby collectors can discover other collectors with similar interests and establish long-term relationships, even If they never get to meet their correspon¬ dents. Isolation remains a burden for many collectors and those who regularly meet other collectors should never forget how lucky they are to meet other collectors. For those collectors who suffer isola¬ tion, you are not alone and 1 trust that the LBJSJS, continues to offer sendees that en¬ hance your collecting interests and that the Society remains of significant assistance as your collection grows. Peter Symes President 1 l.B.N.S. JOURNAL J- Editor's Column East Midlands LB.N.S. Meeting, January 2006 I had the pleasure of meeting with the East Mid¬ lands LB.N.S. group for one of their bimonthly club meetings. It was marvellous. Lawrence Pope gave a splendid bank notes overview from his "cruise senes." There were about a dozen of us enjoying banknotes. See the group photo below. I shortly return to the United States after four months abroad* Science by its very nature is international and this has been reconfirmed once again for me as I visited four English Universi¬ ties and a Greek Research institute. I would submit that bank note collect¬ ing is also of a similar character* We have much to learn from one another. On a brief one week visit to the states in late February l made a point of meeting Rachel at the MPCFEST in Port Clinton, Ohio* This is a weekend of total immersion into banknotes just for the fun of it. More than 60 attended. The poker fest, held in fest money of course, had two Fellers in the top spots with Ray winning first place and a $7000 bond in fest money I look forward to my annual trek to the midsouth; namely the Memphis show* This year it will be held from June 16-18 and 1 highly recommend it to you* I guarantee you will enjoy your hobby more* Please greet me there. My picture is with this column so you will know what I look like. Best Regards, Stew Feller Editor Society Officers President Peter S vines P. O. Box 279 Curtin ACT 2605 AUSTRALIA peter@p jsvmes. com .a u Asst* General Secretary for the Western Hemisphere Brian Giese F.0 Box 081643 Racine, WI53408 USA 24 Hour Fax: ++1-262-638-1954 briang@core.com Journal Editor 1 Steven A. Feller Physics Dept. Coe College 1220 1st Ave, N*E, Cedar Rapids, fA 52402 USA. ++1 -319-393-7052 (home) ++i-319U994l633 (office) Fax: ++1-319-399-8748 sfelIer@coe.edu Chair YN Committee' 1 Joel Shafer PO* Box 170985 Milwaukee, W153217 USA, grba vpa©aol .com European Librarian* Evzen Sknouril Vadavske Nam. 17,1/604 110 00 Praha 1 CZECH REPUBLIC sknou ril@volny,cz ibnscz@volny.cz Newsletter Editor* Muarrav Hanewich PO Box 594 Oyen AB TOJ 2]0 CANADA -H-1403-664-2334 (also fax) iska nd ar@td uspla net, net Society Directors Thomas Augustsson SWEDEN Brian Giese U,S*A. Cem Barlok TURKEY Murray Hanewich CANADA Simon Briddlestone UX Clive Rice UX Roberta Cacdamani ITALY Frank Schneider GERMANY Donald R. Cleveland AUSTRALIA Joel Shafer U.S.A. George Cuhaj U.S.A. Clyde Reedy U.S*A. Rachel S. Feller U.S.A. Hans P Van Weeren NETHERLANDS Steven A. Feller U.S.A. Dr. Ludek Vostal CZECH REPUBLIC 1 Additional Appointed Positions General Advertising Manager/Archivist: Joseph E. Boling* U.S.A. Awards Program Manager Milt Blackburn* Canada Assistant Awards Program Manager: George Conrad* U.S.A* Legal Counsel: James Downey* U.S.A* Secretary Emeritus: Milan Alusic U.S.A* Webmaster: Vacant * Ex-Officio Member of the Board of Directors First Vice President David Carew Loxley, Lutton Gowts button, Spalding lines. PE129LQ England UX d avid care w@tiscali .co.uk General Secretary/ Assistant Treasurer* Clu e Rice 25 Copse Side Binscomhe, Godaiming Surrey GU7 3RU UK IBNSu k@onetel com Asst. General Secretary/ Asst Treasurer for Australasia* Donald R. Cleveland 4 Burdoo Wav ML Martha, VIC 3934 AUSTRALIA oregon@pac.com au US. librarian American Numismatic Assn. Attn: Librarian Si8 North Cascade Ave, Colorado Springs, CO 80903-3279 U.S.A. ++1-719482-9859 800-367-9723 {within U*S.) US Auctioneer* Vacant Second Vice President Paul D. Walters 502 Rutherford Stret Landrum, SC 29356 U.S.A. Pau 13149@charter.net Treasurer* Joseph E. Boling PO Box 4718 Federal Way WA 980634718 USA. ++1-253-839-5199 £ax++l -253-839-5185 joebol ing@aol .com Chair, Education Programs Manager* Marcus Turner PO. Box 191 Avon, Indiana 46123 U.S.A. matumer@indv.rr.com Assistant Treasurer Steve Cox PO Box 31532 Seattle WA 98103 USA. ++1-206-789-9321 hobie333@juno.com Chair, Grievances and Discipline Program Manager* David Carew Loxlev, Lutton Gowts Lutton, Spalding Lines. PEI2 9LQ England UX da v idcare w@tiscali.co*uk UX Auctioneer* David Hunt P.O.Box 412 Halifax, HX3 5YD West Yorkshire U.K. ++44-1422-351646 2 VOLUME 45, NO. 1 What is it! What is it worth! Where can you find it! Find it All in Bank Note Reporter Banknote Reporter is brimming with the facts you need to make the most of your collecting opportu¬ nities. You’ll get informative features, up-to-the minute news, reports on new discoveries and wide-rang¬ ing coverage of U.S. and world bank notes, Nationals, Obsoletes, Confederate notes, uncut sheets and stocks, bonds, checks and more. Find out where prices are moving through accurate auction reports and browse through the world's largest paper money marketplace, where you can buy and sell from advertisers of the highest integrity. And best of a If when you subscribe, you get Bank Note Reporter delivered direct to your mailbox. Don’t miss our NEW value guide for large-size-and-small- size U.S, notes, The Paper Money Market that’s conveniently bound into each monthly issue. Simply detach it and take it with you when you go to shops or shows. Take advantage of our Introductory Subscription Special now! □ Yes I want to sign up for your Introductory Subscription Special/ 4 Issues for $9.95 Name._ Address. □ Check or money order (to Bank Note Reporter) J MasterCard J Discover/Novus City State __Zip Phone number -- —^ --——- Email address ____ _ ___ □ VISA □ American Express Credit Card No.- Expires: Mo. Yr. LI Yes Q No Send me die free. Wants main Newsletter electronic coin and paper money collecting newsletter every two weeks, also! Return with payment to Bank Note Report* t, Circulation Dept., ABBU3A 700 State St., Ida, W1 5499CWMKH Visit us online at www.banknotereporter.com Signature:. Credit card cusomcrs dial toil-free 8011-2i>8- 0929, offer ABBU3A 7 am- 8pm. Mom-Fii and 8 am-2 pm. Sat. CST Non-U.S. addresses, please write for current subscription rales. 3 I.B.N.S. JOURNAL Letters to the Editor Dear Editor, I refer to the excellent and well-wri t- ten articles by Rachel Feller, but feel one point could justify a little expand- inging in her article "A Souvenir from France/' She wrote "After a short while, the Supplementary French Franc Currrency was protested by General Charles de Gaulle, who felt that France was not consulted fully in the making of the money/' She is being more than a little polite to de Gaulle! He was not consulted period, it was not "a short while" it was about 2 seconds after he saw one of the notes. He went into a rage and declared that no one but a Frenchman had the right to use the Tricolor Flag and that the notes were a lie because they were not "Emis is France" (issued in France) but in England to U.S.A., British, Canadian and other forces More importantly, he threatened to order the citizens of France not to ac¬ cept these notes at all. While the Supreme Commander of Allied Forces, Eisenhower, responded with a terse "Tell him to go to hell" and is¬ sued the notes, his political master in the U.S.A. decided on a more diplo¬ matic response by agreeing to delete the flag from the next issue of notes. Churchill was very sympathetic to the Americans over the matter as de Gaulle had been a thorn in his side throughout the war and he once said of de Gaulle "He's my Cross of Lorraine!" Colin Narbeth , LB.N.S . #? 6 Hnl Place Gardens St Albans, Herts AL13SP United Kingdom e-mail: colin.narbeth@btiniemet.am Dear Editor, I would like to report a new date for the British Honduras $10 (Pick 31a), this dated 1.1.1958 with serial #F/1- 1400L It is perhaps the earliest re¬ corded British Honduras $10 of Queen Elizabeth II. Up until now the earliest date in my collection was the $10 of 1.10.1958, serial #F/l-025707. There is an early QEII $20 dated 1.12.1952 (Pick 32a). Mine is #E/1- 007111 and in awful condition. That is followed by an Issue dated 1.10,1958, mine #E/1-010407. You can see the very low numbers printed for the early dates of QEII $10 and $20 in British Honduras. It is likely that an even earlier date for the $10 QEII Pick-31 a exists, be¬ tween 1952 and 1958.1 would welcome information from members which will help fill in these early B.H. issues. Kind regards Milt Blackburn, I.B.N.S. LM-18 Box 33888, Station "D" Vancouver, B.C., Canada V6J 4L6 Dear Editor, 50 dinara Serbian banknote forgery Sometimes there is doubt about whether or not a bank note is a government-sponsored forgery For instance, there is the case of the alleged United States government forgery of the Serbia 50 dinara Serbian National bank note of 1 May 1942.1 first ran across a brick of about 100 of these bank notes about 1990. The seller was the wife of a deceased WWII airman who claimed that the bank notes were government forgeries issued to her husband when he flew over Yugosla¬ via. He was to use them to bribe the locals and pay for supplies if he was shot down. There was no proof of such an operation so J never quite believed the story. Recently another such note was offered for sale, once again from the estate of a deceased airman, but from another part of the country The back¬ ground story was exactly the same. So, although we cannot say for sure that these bank notes were prepared by the OSS or some other clandestine agency to be used by downed pilots, we can say that there is some interesting cir¬ cumstantial evidence. The alleged forgeries are of excel¬ lent quality. In the initial offering the bank notes had the red serial numbers M.0234 / 101 to M.0234 / 200. The more recent bank note had the serial number M.0234 / 499, which indicates that it is from the same general print¬ ing, One of the very minor differences I noted between the genuine and forged bank notes are in the issue date on the face, "MAJ 1942," in which the crossbar in the "A" is slanted in the genuine and perfectly horizontal in the forgery and the number "9" which is broken slightly in the genuine and perfectly smooth in the forgery. There is a small box at the bottom of the back of the note and in it the first cyrillic letter has a break at the bottom left of the letter "ehf," — whereas the letter is perfect in the genuine. Herb Friedman, 7.RNS. #4374 734 Sunrise avenue Bellmore, NY 11710 US. A 4 VOLUME 45, NO. 1 Application for Membership of the International Bank Note Society Family name: _ Given name(s): Street: City:__ Province or State:____ Post or ZIP Code:_ Country:______ Phone: Fax: __ Email: _ Web site:__ Do you want your postal address published in the 1BNS Membership Directory? Yes / No Do you want your email address published in the IBNS Membership Directory? Yes / No Do you want your name, country and email address to be listed on the IBNS web site (for access by other members only)? Yes / No If you are a member of an IBNS Chapter, please identify the Chapter: _ Are you a bank note dealer: Yes / No Please list your collecting interests: Please nominate the type of membership required: □ Individual: $33.00/£18.00/ AS44.O0 O Junior (ages 11-17): SI6.50/ £9 / AS22 Date of Birth: ___ O Family (includes children under 18): S4L0G / £23.00/AS55.00 Names and dates of birth of family members: The membership renewal date will be the anniversary of acceptance of the application. Please send your completed application to one of lire following (who can also answer any queries regarding payment or your application): General Secretary Asst. General Secretary for Australasia Asst. General Secretary' for the Clive Rice Donald R. Cleveland Western Hemisphere 25 Copse Side, Binscombe 4 Burdoo Way Brian Giese Godaiming, Surrey GU7 3RU UK Mt Martha, VIC 3934, AUSTRALIA P. O. Box 081643 IBNSiik@onetel.com oregon@pac.com.au Racine, Wl 53408 USA 24 hour fax: -*+262-638-1954 briang@core.com The IBNS will use contact details provided by members to deliver membership benefits and, where a member has chosen to publish their contact details, to inform other members of a member's name, contact details and collecting interests. The IBNS will not knowingly divulge contact details of a member to an entity w r ho is not a member of the IBNS, unless legally required. (The IBNS Privacy Policy can be found at http://www.thelBNS.org/ or obtained from an IBNS Secretary .) Payment can be made by cash, check or money order (payable to LB.N.S.) in US Dollars, Great British Pounds, or Australian Dollars. Payments can be processed by PayPal by sending payment in US Dollars to ibnstreasfd'aoLcom Payment by credit card will be processed in US Dollars. If paying by credit card please complete the following: □ AMEX □ Optima □ VISA □ MasterCard Billing address for the card (if different from above): Card No.:_ _ V-code (being the last three digits printed on the back of VISA or MasterCard cards) or Security Code (being the four digits printed [not embossed] on the front of AMEX or Optima cards): Expiry date: __ Signature of authorized card user: Name embossed on the card: Date: 5 I.B.N.S. JOURNAL The Bank Notes of Somalia — Part I by Peter Syrnes, I.B.N.S. #4245 This is a study of the bank notes is¬ sued in Somalia from colonial times to the fractured period after 1991. Principally, this study describes the bank notes and provides as much of the historical background to the issue of the bank notes as is possible. Records on the issue of currency in Somalia, in its various forms, is not plentiful. However, sufficient detail has been located to tell of the ordi¬ nary and extraordinary facts sur¬ rounding the various issues. The his¬ tory of Somalia and its note issuing authorities is not simple, therefore it is wise to know a little of Somalia's history prior to describing the bank note issues. A Short History Somali people have inhabited the Horn of Africa for thousands of years and the areas of their occu¬ pation, with several exceptions, is today known as Somalia. Despite the great length of time in which the Somali people have inhabited the Horn of Africa, there have been significant migratory patterns that have displaced and rearranged the clan structures within the area. Prior to the modem era, Somalia had a history of rule by various Somali clans, although there were times when other powers pressed their influence. The Ethiopians and Egyptians at time held sway in areas of Somalia and the Sultans of Muscat and Zanzibar also held significant control of the coastal ports for many years. Ultimately, European influ¬ ence exerted itself in this region, with the two dominant powers being Great Britain and Italy. The British government's first interest in Somalia was the Somali coast opposite Aden. The colony of Aden had been acquired in 1839 and, following the opening of the Suez canal in 1869, Aden became Britain's principal entrepdt between Europe and the Far East. Although Aden was attractive for its port facilities, it lacked a reliable meat supply. There¬ fore, trade was established with the coastal tribes of Somalia to provide meat and, ultimately/ in 1887 Britain formalized its influence in this area by creating the Somaliland Protec¬ torate. The creation of the protec¬ torate not only secured a supply of food for Aden, it also thwarted the aspirations of the Egyptians and the French who had shown interest in the region. A British trading company, the British East Africa Company, had earlier established agreements with Somali people on the eastern coast of Somalia in 1827. Later, Italian influ¬ ence resulted in numerous spheres of influence being established along the Benadir Coast. The Italians took over concessions from the British East Africa Company and leased ports through the Sultan of Zanzibar. Over time their influence was consoli¬ dated and finally Italian Somaliland became an Italian colony in 1905. Italian Somaliland came under British control during World War II, but in 1950 it was handed back to the Italians as a Untied Nations Trust Territory. Under the arrangements by which Italy ran the Trust Territory, the former colony was to become independent in ten years. In July 1960 not only did the Trust Territory become independent, it was uni¬ fied with British Somaliland, which had become independent only days earlier. This unification was seen by many as the first stage of a completely unified Somali nation. Most African nations are an amalgamation of a number of tribal and ethnic mixes. This occurs primarily because the boundaries of each nation are based on former spheres of influence of European colonial powers, rather than on tribal allegiances and racial mixes. Somalia is distinct in that only Somalis live in Somalia. However, prior to independence, the entire Somali people lived in five differ¬ ent areas: Italian Somaliland, British Somaliland, Djibouti (known at times as French Somaliland or Afars and Issas), Ogaden (a region of Ethiopia), and the Northern Frontier District of Kenya. A significant Somali emblem is a five-pointed star that appears on the Somali flag. The five-pointed star is the symbol of unity for Somalis from all five areas in which Somalis were divided and it was the aim of many Somalis that, one day, all So¬ malis would be united as one nation. Independent Somalia's future as a democratic nation was unsteady for some years, although much prog¬ ress was achieved by the fledgling nation. In 1969 the army took control through a coup led by Major General Siad Barre. The country was then led by the Somali Revolutionary Council, of which Siad Barre was the chair¬ man, and the council duly elected Siad Barre as President. Introducing 'Scientific Socialism,' the country adopted a socialist platform and stumbled forward. Following the overthrow of Ethio¬ pia's Haile Selassie in 1974, a number of Somali opposition political parties, that were agitating for the reclama¬ tion of the Ogaden from Ethiopia, became more active. After Djibouti became independent from France in June 1977, the nationalist elements in Somalia launched attacks on Ethio¬ pia and thus commenced a war for the Ogaden. The war was fought by elements not directly associated with the Somali government, but the gov¬ ernment gave support to the insur¬ gents. Ultimately the war was lost, as Somalia had gained no friends in the international community; indeed 6 VOLUME 45, NO. 1 This 50-1 ire note was part of the emission for Africa Orientate I tali ana, which consisted of Somalia, Ethiopia and Eritrea, The back of the 50-lire note of Africa Orientale Italiana, they lost the significant support of the Soviet Union which transferred their patronage to Ethiopia* Failure to win the Ogaden war led to the splintering of support for Siad Barre and, over the next ten years, backing for the president in a num¬ ber of regions was corroded by clan- based political parties* Despite rec¬ onciliation between the Somali and Ethiopian governments, the internal status of Somalia was growing grim. The clans that Siad Barre supported during the Ogaden war now turned against him and ultimately forced him to flee Mogadishu in 1991* Following the fall of Siad Barre, Somalia fell into a maelstrom of struggles for influence, both politi¬ cal and economic. No single clan or group of clans could gain control and attempts by the United Nations to intervene during the 1990s proved fruitless, A civil war based around Mogadishu saw thousands die and tens of thousands of Somalis flee the country and seek refuge over¬ seas* The former British Protectorate broke away and established itself as a separate country called 'Somalil¬ and/ but it has not been recognized by any country. A number of other administrations have established themselves within Somalia, notably the administration in Puntland, but they have not declared themselves as a state separate from Somalia* Although the civil strife that wracked the country in the early 1990s has dissipated, and while there have been numerous attempts to bring the factions of the country together, no initiatives have yet seen the likely re-establishment of Soma¬ lia as a sovereign nation* However, efforts are continuing with the aim of uniting Somalia as a single entity or as a federation* Perhaps, in time, it will find stability and regain nation¬ hood. The Currency of Somalia Prior to Independence Early Currency in Somalia Prior to the arrival of European traders, most trade in the interior of Somalia was by barter or by the use of Maria Theresa thalers* On the coast, the influence of the Sultans of Muscat and Zanzibar had seen the Indian silver rupee become the domi¬ nant unit of currency. However, baisa bronze coins of Muscat, Mombasa and Zanzibar also circulated. These later coins were necessary because of the high value of the rupee and the requirement for coins of smaller value to complement the rupee. The first known currency specific to Italian Somaliland was an 1893 issue of 5 rupees by "V. Filonardi & Company*' In 1889, Vincenzo Filo¬ nardi, the Italian Consul at Zanzibar, concluded treaties with the Ma- jerteyn Sultans of Obbia and Aula in favour of the Italian government and later acquired control of other ports by sub-letting them from the Impe¬ rial British East Africa Company or renting them from the Sultan of Zan¬ zibar* The last agreement was signed in 1892, hut by this time Filonardi had forgone his consul's post to establish his own trading company. Having arranged the various trea¬ ties and acquisitions for the Italian government, the government had entrusted their holdings on the Bena- dir coast to Filonadi, who opened his first establishment at Adale (Itala) in 1891. However, trade from Soma¬ lia was not enough to support the former consul's enterprise and V. Filonadi & Company was wound up in 1896* From this point, the Italian government ran their possessions through Italian Residents at four ports on the coast. The notes issued by V. Filonardi & Company carried the follow¬ ing text: V. Filonardi & C* Buono per Rupie Cinque pagabili al porta tore. Itala 15 luglio 1893; i.e. 'V. Filonardi and Company, Good for five rupees. 7 I.B.N.S. JOURNAL (10304 TEN SHILLINGS 110304 m micm (ton nxnat a m nmnot mwm V/tinbt. _ s I'lSertrmbrrm* SS.'Ss! A 10-shDling note issued by the East Af¬ rican Currency Board. Notes from this series were used in British Somaliland for many years and in Italian Somaliland during and after WWII, payable to the bearer. I tala (Adale) 15 July 1893/ Above the signature of Vincenzo Filonardi are the words Ugerenle (The Manager). The text was repeated on the back of the note in Arabic To the left of the note is a blind stamp which embosses text in Latin and Arabic characters. The notes were printed by Litografica Salomone - Roma . It is believed that Filonardi & Company issued only the 5-rupee note. The notes of V. Filonardi & Company were promissory notes that were never meant to replace the currencies circulating in Ital¬ ian Somaliland. The Maria Theresa thaler, the Indian rupee, and smaller baisa coins continued to circulate during and after the Filonardi issue. However, due to a shortage in smalt coins, in April 1905 the Italian gov¬ ernment introduced one centesimo coins (at a rate of 150 to the Maria Theresa thaler) and, from May 1905, 25-centesimi coins were introduced. However, this measure did not prove successful and neither was an attempt to introduce Italian baisa coins in denominations of 1, 2 and 4 baisa under a decree dated 29 Janu¬ ary 1909. Ultimately, on 8 December 1909 the Italian silver rupee was introduced, being available in one-, half- and quarter-rupee coins. Bank of Italy Cash Certificates While successful as a coin, problems arose when the silver content of the Italian silver rupees became more valuable than the coins themselves. This led to a drain of coins from the Italian colony. Under Decree No,6O0 of 13 May 1920 the Bank of Italy began issuing cash certificates (huoni di cassa) in Italian rupees. The cash certificates were given the status of legal tender and could pay any debt with the Italian government According to the decree authorizing their issue, certificates in the denominations of one, five, ten, twenty and fifty rupees were to be issued, but as it transpired, only one-, five- and ten- rupee certificates were issued. The certificates were to be fully convert¬ ible, but by the time that they were introduced, the convertibility was suspended. The certificates were a resounding success and anecdotal evidence suggests they were pre¬ ferred to silver coin. Although up to two million rupees were allowed to be issued in cash certificates, the amount in circulation never exceed one and a half million rupees, which was reached in 1924. The three certificates, or notes, issued by the Bank of Italy have common text, differing only for the value of the certificates. The text is: Banco D'Italia Somalia Italiana Buorto di Cassa <Denomimtwn> Emessa Contra Deposito Corrispon- dente di Valute de Argento Esistenti Nelk Casse Della Banca This text can be translated as: Bank of Italy Italian Somalia Cash certificate <Denomination> Issued against a deposit correspond¬ ing to a value of silver held in the vault of the Bank The certificates are signed by 'Stringher/ as the Director General (11 Direttore Generate) and 'Sacchi' as the Cashier 17/ Cassiere). The back The pattern for this 5-somati note was also used for the unissued 1-somalo note. This is one of three designs used for notes of the Casa per ta Circolazione Monetaria della Somalia. The back of the 5-soma lo note, designed with classical simplicity. 8 VOLUME 45, NO, 1 This design for the 20-somal* note was also adapted for the first 5'somali note and the 10-somali note issued by Somalia during the Italian mandate. The classical pattern of this design is given an African theme by including the head of an elephant as the watermark in the center of the note. of each note has Arabic text that is similar to the Italian text on the face of the notes, while in a panel at the bottom on the back is the decree under which the notes were issued. This reads (in Italian): Reggio Divert: to 13 Maggio 1 920 N.6QQ . The design of each note is distinct but each note has its design created with engine work and filigree pat¬ terns. Details of the individual notes are: 1 Rupee Size: Colors: Watermark: 5 Rupees Size: Colors: Watermark: 10 Rupees Size: Colors: Watermark: 110 x 65 mm Red and crimson '1 Rupia' 142 x 90 mm Brown and beige The head of the goddess Minerva 160 x 98 mm Maroon and brown The head of the god Mercury Such was the success of the cash certificates, that the Italian govern¬ ment decided to introduce the Italian lira into the colony. Decree No. 1143 of 18 June 1925 authorized the in¬ troduction of the lira as legal tender, replacing the Italian rupee, (How¬ ever, the Indian rupee continued to circulate as non-Iegal tender.) In or¬ der to introduce the lira, a period of exchange commenced on 1 July 1925 and ended on 30 June 1926. Dur¬ ing this period, the Bank of Italy at Mogadishu exchanged the rupees for lire at a rate of eight lire per rupee. The lira proved to be an acceptable and reliable currency for the colony, but there developed an opinion in Italy, that it might be wiser to have a separate currency for its colonies (including Eritrea), which would be linked to the lira, rather than allow¬ ing the Italian lira to circulate in its colonies. The Italian East African Issues In 1936 Italy set up the adminis¬ trative area of Africa Orientate Italiana (Italian East Africa), which consisted of Italian Somaliland, Ethiopia (in¬ vaded in 1935) and Eritrea (an Italian colony since 1890). From 1938 a new currency was issued by the Bank of Italy for 'Italian East Africa/ which consisted of notes denominated in 50,100, 500 and 1000 lire. These notes were similar to the notes then circulating in Italy, but their colors were modified and they had two red overprints. In the top margin of the notes was written: Serie Specials Africa Orient ale Italiana which translates as: Special Series for Italian East Africa and in the bottom margin was the following text: E Viet at a la Circolaziane Fuori dei Terri tori del!'Africa Orientate Hal ia tin which translates as: It is prohibited to circulate outside the territory of Italian East Africa. It is understood, but not con¬ firmed, that the notes prepared for Italian East Africa were placed into circulation in late 1938 by an authorization dated 12 September 1938. A further authorization dated 14 January 1939 is believed to have placed further notes into circulation. It is understood that the number of notes authorized for each issue was as shown in Chart 1. (Only 2,970,000 of the 50-lire notes of the 1939 issue were actually produced, even though an even three million notes were ordered.) Prior to the British occupation of Italian East Africa in May 1942, all notes prepared for Italian East Africa were repatriated and stored in the vaults of the Bank of Italy in Rome. When a shortage of currency oc¬ curred in Italy later that year, it was decided to release the Italian East African notes into circulation. This commenced on 26 November 1942. Chart 1 50 lire 100 lire 500 lire 1000 lire 12 September 1938 8 r 000 r 000 4,000,000 1,000,000 500,000 14 January 1939 3,000,000 1,500,00 200,000 100,000 9 LBisLS. JOURNAL The East African Shilling In the Somaliland Protectorate, the Indian rupee, which circulated prior to the arrival of the British, contin¬ ued to circulate after the British took control. Ultimately the Indian rupee became the official currency and was declared legal tender in the pro¬ tectorate. Following the creation of the East African Currency Board in 1919, the East African shilling began to circulate in the Protectorate and some years later 'Somaliland Ordi¬ nance No. 25 of 1937' empowered 'the Governor [of Somaliland] by proclamation to ''admit" East African Currency' into Somaliland. While the Indian Rupee remained the principal currency, and official currency for accounting purposes, the shilling of the East African Currency Board was given official circulating status under the ordinance. For many years both currencies circulated in apparent harmony. Following the outbreak of World War II and the capture of Mogadishu by Lieutenant General Cunning¬ ham on 26 February 1941, there was an unprecedented demand in the former Italian colony for currency issued by the East African Currency Board. In the initial period of occu¬ pation, Italian lire circulated freely alongside East African shillings, although a permit from the British military authorities was required for payments in lire for debts valued at forty East African shillings or more. Proclamations Nos. 3 & 4 of the Brit¬ ish Military Administration, dated 2 and 21 March respectively, allowed for numerous currencies to circu¬ late in Italian Somalia; these being the East African shilling, the Indian rupee, the Egyptian pound and the Maria Therese thaler* Under Order No, 1 of 24 March 1941, the exchange rates were set at the following: 20 East African Shillings - 480 Lire 492 Lire = 1 Egyptian pound 1 Indian rupee - 36 Lire 1 Maria Therese thaler — 45 Lire 11 Maria Therese thalers - 1 Egyptian pound 1.50 Indian rupees = 1 East African shilling Under the British military admin¬ istration, all accounts were kept in East African shillings and thus the shilling became the default currency for the occupied territory. Proclama¬ tion No.20 of 1 July 1942 allowed people to use Italian lire to pay for any debt, so long as payment was in coins and notes that did not exceed 50 lire. Similarly Egyptian pounds and Maria Therese thalers were accepted for official payments* The exchange rate for such transactions was 24 lire to the East African shil¬ ling, one Egyptian pound to twenty East African shillings, and one Maria Therese thaler to 1.8 7 l h East African shillings. Where debts were incurred in East Afican shillings, only that currency could be used to pay for that debt, whereas debts incurred by other currencies could be paid by that currency or in East African shil¬ lings. The proclamation specifically excluded the use of the lira issued by Italian East Africa as valid currency for the payment of debts* Through these regulations, the East African shilling became the dominant cur¬ rency in the occupied territory* The Somalo and the Cassa per la Circo lazio ne Mo net aria della Somalia After World War II the United Nations placed former Italian Somaliland under the administra¬ tion of an Italian Trusteeship* While officially titled the 'United Nations Trust Territory of Somalia' the area continued to be referred to as Italian Somaliland/ The United Nations ap¬ proved passing control of the Trust Territory to Italy in November 1949 and on 27 January 1950, Italy was given financial administration of the Territory, As early as 1948 Italy had been considering the options for currencies in Somalia, in anticipation that the territory would be returned to its control. After rejecting the idea of re-introducing the Italian lira, or a currency linked to the lira, it was decided to introduce a new currency. The new currency was denominated the 'somalo' and it was authorized by the Trusteeship Administration's Ordinance No* 14 of 16 May 1950* The somalo was valued at 0,124414 grammes of fine gold and was, significantly, the same value as the East African shilling. By making the somalo equivalent to the East Afri¬ can shilling, it was anticipated that the transition to the new currency would be as painless as possible* In adopting the value of the East African shilling, it was also decided to utilize the same denominations in which the East African shillings were issued, although not all denomina¬ tions issued by the East African Currency Board were adopt¬ ed for the new currency. Notes were prepared in the denominations of 1,5,10, 20 and 100 somali. ('somali' being the plural of 'somalo/) Coins were prepared in denominations of 1 somalo, 50,10, 5 and 1 centesimi. The designs for the notes and coins were detailed in Ordinances No* 15 of 18 May 1950 and No. 44 of 22 July 1950. The 1-somalo note of this issue is an enigma for two reasons. Firstly, the denomination is written as T so¬ mali' on the face of the note, whereas it should have read T somalo/ In fact, the denomination Is expressed as '1 somalo' on the back of the note and the coin issued for the same value is denominated as '1 somalo/ This suggests that the use of the word 'somali' on the face of this note was a mistake. Secondly, this note is a mystery because it was never placed into circulation* Evidently, the coin of the same value was declared to be preferable to the note, but one can't help wondering if the reason for non-issue may have been linked to the incorrect value written on the note. According to records 1 issued after the redemption of this series of notes, only two hundred and twenty five of the T-somali' notes were outstanding. It appears 10 VOLUME 45, NO. 1 Likely that these were distributed as souvenirs at the time of issue, or provided as samples to various au¬ thorities* Officiai presentation folders that included all notes in this series, including the '1-somaLi' note, were prepared and it is likely that most of the outstanding 1-somali notes were placed in these folders* Shortly after the release of the notes prepared for the Trusteeship, a new 5-somali note was introduced. Decree No. 7 of 22 March 1951 detailed the design of the second 5-somali note and Decree No* 61 of 22 May 1951 authorized the introduc¬ tion of the new note. The original 5-somali note did not prove popular when first introduced and, in fact, fewer notes than the authorized issue were printed. In addition, the 5-somali notes were the most widely used notes in circulation and were subject to significant wear and tear. This led to the need to replace these note more often than the higher denomination notes and more notes could be produced when a smaller sized format was adopted. The choice of a smaller sized note may also have been due to the similarity of the first 5-somali note to the 10- and 20-somali notes. When the sec¬ ond 5-somali note was introduced it used a similar design to the unissued '1-somali' note. (The decision to in¬ troduce a reduced-size note may also have been influenced by the non-is¬ sue of the 'l-somali' note*) Both types of 5-somali note circulated for the next ten years without any attempt to withdraw the first variety of the note. All notes issued by the Cassa per la Circolazione Monetaria della Somalia were printed by the Istituto Poltgraf tco dello Stata. Officana Carte Valori- Roma (be, the State Printing Office* Banknote Works Rome) and their imprint LP.S. Off. Carte- Valori-Rotm appears in the bottom margin of each note. The notes were prepared in three different designs. The first design (Type 1) was used for the '1- somali' note and the second 5-somali note, while the second design (Type 2) was used for the first 5-somali note and the 10- and 20-somali notes, and the 100-somali note had its own de¬ sign (Type 3)* Details of each design are as follows: Type 1 (T soma I i' and the second 5 somal i) Size: 126 x 73 mm Face of the note: The head of a leop¬ ard is in the centre of the note, with the watermark in a panel to the right and the denomination of the note written in Arabic and Latin text in a panel to the left, which also contains the signatures. (The head of the leopard carries the imprint 'Canforini Inc*') Above the title of the issuing au¬ thority, in a panel at the lower centre, is the Somali star and two crescent moons. Back of the note: A classically de¬ signed panel contains the value of the note with the appropriate numeral being repeated in Arabic and western numerals. At the left is the area for viewing the watermark and at the right is written '1950 Roma' in Arabic and Latin text. The series and serial numbers are repeated twice in the comers of the note. Watermark: The head of a leopard. 1 Somalo Colors: Brown and beige. Signatories: Spinelli as the President (U Presidente) and Giannini as the Controller (II Controllore) 5 Somali (second issue) Colors: Maroon and grey Signatories: Ciancimino as the Presi¬ dent (II Presidente) and Giannini as the Controller (II Controllore) Type 2 (The first 5 somali, the 10 somali and the 20 somali) Size: 158 x 98 mm Face of the note: To either side of the note are ornamental panels contain¬ ing designs representing a Somali fireplace, surmounted by the Somali star and two crescent moons. In the centre of the note is the panel for the watermark and to either side of the panel is written the denomination of the note in Arabic and Latin text and the signatures. The name of the issu¬ ing authority is in a panel at the top centre. Back of the note: An omate design based on classic Roman elements has the watermark in its centre, the word Somali' above the watermark and the denomination in western numerals at the far left and right. At the bottom of the note is written '1950 Roma' in Arabic and Latin text. The series and serial numbers are repeated twice in the corners of the note. Watermark: The head of an elephant, 5 Somali (first issue) Colors: Blue and green* Signatories: Spinelli as the President (1/ Presidente) and Giannini as the Controller (// Controllore) 10 Somali Colors: Dark and light green Signatories: (1) Spinelli as the Presi¬ dent (// Presidente) and Giannini as the Controller (II Controllore) (2) Ciancimino as the President and Giannini as the Controller (3) Ciancimino as the President and Inserra as the Controller 20 Somali Colors: Brown and beige Signatories: (1) Spinelli as the President (// Presi¬ dente) and Giannini as the Controller (11 Controllore) (2) Ciancimino as the President and Giannini as the Controller (3) Ciancimino as the President and Inserra as the Controller Type 3 (100 somali) Size: 165 x 100 mm Colors: Dark brown, light brown and beige Face of the note: There are two identi¬ cal panels at the left and right, with classical ornamentation* The panel at the left contains an illustration of the head of a lion in its centre, while tire corresponding panel to the right contains the watermark. The centre of the note is divided horizontally into three parts. The top panel contains the word 'Somali' in Arabic, the bottom panel contains the same word in Latin script, and the central panel contains the name of the issuing authority and the signatures. Back of the note: Against a fine orna¬ mental background, which vacates an area at the left for viewing the watermark, is a frame constructed with classic Roman elements. In a cartouche at the top of the frame is the 11 l.B.N.S. JOURNAL word 'Somali' and to either side, in the comers of the frame, is written the number '100' in western and Arabic numerals. In the centre of the frame is the Palazzo del Governo of Somalia. At the bottom of the note is written '1950 Roma' in Arabic and Latin text. The series and serial numbers are repeated twice in the comers of the note. Watermark: The head of a lion. Signatories: (1) Spinelli as the President (11 Presi- dente) and Giannini as the Controller (// Controllore) (2) Ciancimino as the President and Giannini as the Controller While each note in this series has its own watermark, there is a com¬ mon watermark that covers the pa¬ per for each denomination. The com¬ mon watermark consists of wavy lines between which is repeated the word 'SOMALO.' The number of notes to be pre¬ pared for the initial issue was fixed by Ordinance No.16 of 16 May 1950. The following chart shows the au¬ thorized issue for the initial release, the actual amount issued, the total issued over the period in which they circulated, and the amounts out¬ standing in May 1963. The amounts are expressed in somali (and not the total number of notes). (See Table 1.) The issue of the somalo notes was supervised by the Cassa per la Circo- lazione Monetaria della Somalia , in es¬ sence a currency board, which came into existence on 18 April 1950. The authority was based in Rome and was under joint control of the Italian Ministry for Foreign Affairs and the Ministry of the Treasury. However, the authority was established in the form of a company limited by shares. The paid up capital of the author¬ ity was 87.5 million lire and this was issued in one thousand shares of 87,500 lire each. The Ministry for Italian Africa held 995 shares and the Societa Fimnziamenti Esteri (Foreign Financing Company) held 5 shares. The Cassa per la Circolazione Mon¬ etaria della Somalia was responsible for controlling the backing for, and issue of, the notes and coins issued in Somalia. The notes were fully backed by foreign currency, funds available at sight or short notice in foreign banks, and foreign Treasury bills maturing in less than one year. Al¬ though a legal entity in its own right, the Cassa per la Circolazione Monetaria della Somalia did not partake in the day-to-day activities of the issue of currency. While a controller was appointed in Mogadishu, to super¬ vise the activities of the board in Somalia and to provide a signature for the notes, the management of the authority was taken over at an early stage, i.e. on 9 May 1950, by the Bank of Italy. Thus the 'Banking Depart¬ ment' of the monetary authority was run by the Mogadishu branch of the Bank of Italy. The introduction of the somalo to Somalia commenced on 22 May 1950. Ordinance No.17 of 18 May 1950 authorized the Bank of Italy to supervise the introduction of the new currency and to exchange it with the old currency. The exchange in Mogadishu took place through the auspices of the three Italian Banks - the Bank of Italy, the Banco di Roma and the Banco di Napoli. Six mobile offices—in the Commissari¬ ats of Benadir, Lower Juba, Upper Juba, Lower Webi Shebeli, Mudugh and Migiurtinia—undertook the exchange in areas outside Mogadi¬ shu. The exchange took place from 22 May to 22 July 1950, but by July it was deemed necessary to extend the ability to exchange currency at the Bank of Italy in Mogadishu by one month. It was intended that the somalo was to become the only legal tender in the Trust Territory after the period of exchange, on 23 July 1950, but the date was amended to 22 Au¬ gust 3 to coincide with the extended period of exchange in Mogadishu. The total amount of the new cur¬ rency issued at the end of the exchange period was 17,635,112.10 somali and it was exchanged for 17,454,641.24 East African shillings and 15,791,892.30 Italian lire. (Of the East African shillings accounted for in the exchange, some five million had been held by the Bank of Italy in Mogadishu and had not been in circulation.) The notes issued by the Cassa per la Circolazione Monetaria della Somalia circulated for ten years, to the end of Italian control of the Trust Territory. Apart from the initial change to the 5-somali note and some changes in signatories, there were no further changes to the notes during the period they were issued. Following independence on 1 July 1960, these Table 1. Somali bank notes issued, produced, destroyed and outstanding as at 31 May 1963. 2 Denomination Authorized for issue in 1950 Printed in 1950 Total Produced Withdrawn and Destroyed by 31 May 1963 In reserve on 31 May 1963 In circulation on 31 May 1963 100 6,500,000 6,500,000 21,500,000 18,300,400 1,672,300 1,527,300 20 16,000,000 16,000,000 68,000,000 54,672,020 6,209,560 7,118,420 10 9,000,000 9,000,000 36,000,000 31,740,910 1,879,730 1,879,730 5 (l* type) 7,500,000 5,000,000 5,210,000 5,164,925 5,000 40,075 5 (2 nd type) — — 8,000,000 7,169,695 453,995 376,310 1 1,500,000 1,500,000 1,500,000 1,499,775 — 225 Total 40,500,000 38,000,000 140,210,000 118,547,725 10,220,585 11,441,690 12 VOLUME 45, NO. 1 notes continued to circulate under the authority of the National Bank of Somalia, As the Italian Trusteeship of Somalia neared its end, a decision was taken to convert the Cassa per la Circolazione Monet aria della Somalia into a central bank, as it was deemed that such an entity would be needed by independent Somalia, Conse¬ quently, the President of the Italian Republic's Decree No, 1131 of 2 De- cember 1958 authorized the changes necessary to convert the authority to a central bank, A Directorate General of the Cassa per la Circolazione Mon- eiarta della Somalia was established at Mogadishu on 6 April 1959 and an office was established to take over the responsibilities previously undertaken by the Bank of Italy, The United Nations Trust Terri¬ tory of Somalia became independent on 1 July 1960. However, prior to independence, the protectorate of British Somaliland and the Trust Ter¬ ritory of Somalia had agreed to unify as one nation. To enable this to occur, British Somaliland became indepen¬ dent on 26 June 1960, So, on the day that the Trust Territory of Somaliland achieved its independence, the unifi¬ cation of Somalia was accomplished. The National Bank of Somalia The First Issue Following the unification of Ital¬ ian Somaliland and British Somalil¬ and, the Banca Nazionale Somala or the 'National Bank of Somalia' opened for business on 1 July I960, While the newly established Bank was part of the move to indepen¬ dence, in reality the Bank continued to operate as it had under Italian administration as the Gissfl per la Circolazione Monetaria della Somalia , The bank had simply changed its name. The National Bank initially had one office in Mogadishu staffed by fourteen people, but by 1965 the Bank had established nine branches and an administrative staff of one hundred and thirty Somalis and eleven foreign nationals. The Bank operated as a commercial bank and as the centra] bank. At the time of unification, the East African shilling was circulating in the former British Protectorate of Somaliland and the somalo was cir¬ culating in the former Trust Territory, During 1961 a number of measures were taken to rationalize the curren¬ cy circulating in the unified country. Firstly, the Monetary Ordinance of 6 March 1961 established the somalo as the currency for the unified na¬ tion, after which Presidential Decree No.93 of 10 April 1961 authorized the exchange of East African shil¬ lings with somali in the Northern Re¬ gion (formerly the British Protector¬ ate), This exchange commenced on 22 April 1961, Subsequently, under Presidential Decree No,113 of 15 June 1961, the East African shilling lost its legal tender status in Somalia on 31 July 1961, Following the withdrawal of the East African shilling, steps were taken to introduce a new currency under the authority of the National Bank of Somalia. Consequently, Presidential Decree No.86 of 5 March 1962 specified the denominations and the characteristics of the bank notes to be introduced for the new nation. The bank notes consisted of four denominations in the values of 5, 10,20 and 100 scellini r or 'shil¬ lings/ Presidential Decree No.87 of 5 March 1962 specified the number of notes to be printed. The origi¬ nal printing was for the following number of notes: 5 shillings — two million; 10 shillings — two million; 20 shillings — four million; and 100- shillings — one million. Each note carried a series number commencing at A001, which incremented every one hundred thousand notes. The Finance Minister's Decree No.294 of 20 November 1962 made the new bank notes full legal tender and the notes were placed into circulation on 15 December 1962. Due to the lack of an effective banking system in Somalia, the exchange of currency was accomplished through the post offices. However, because of the sparse population and the nomadic life of some inhabitants, the process of exchanging the notes was slow. By 31 May, some five months after the introduction of the new cur¬ rency, just over 14% of the money in circulation was still in somali, while the rest was in the new shilling. The somalo notes issued by the former Cassa per la Circolazione Monetaria della Somalia ceased to be legal tender on 31 December 1963. The new notes were of an equiva¬ lent value to the somalo notes they replaced and, in essence, the first issue of the National Bank simply represented the change in issuing The first 5-shilling note issued by the National Bank of Somalia, printed in Italy, depicts a kudu at the left. 13 The back of the first 5-shilling note, showing a traditional trading craft. l.B.N.S. JOURNAL The first 10-shilling note issued by the National Bank of Somalia, depicting the flower of a cotton plant at the left and the head of a leopard as the watermark. The tranquil Juba River is depicted on the back of this 10-shilling note. authority. Denominated as scellini 4 on the face of the notes, they are also identified as 'Somali shillings' in English and 'shilin Somali' in Arabic in alternate comers on the face of the notes. The English and Arabic text occur once on the back of the notes. Each note shares a similar design, while possessing individual charac¬ teristics. Common to each note is the layout on the face of the notes, the watermark, the text, and the signato¬ ries. The layout for each note con¬ sists of a patterned border 5 , which provides expanded comers that contain the value of the note in Eng¬ lish and Somali. Each note contains an ornamental design in the centre of the note, linking the vignette at the left with an oval containing the watermark at the right. The border pattern and the ornamental design are the same for the 5- and 10-shil- ling notes (which are also the same size), while similarly the border pattern and ornamental design are the same for the 20- and 100-shilling notes (which are, in turn, the same size). The watermark for all notes is the head of a leopard. The text is very simple, containing no promissory clause. The name of the issuing authority appears boldly across the top of the note, below which is the denomination of the note in dominant lettering, under which are the titles of the signatories and their signatures. Below the sig¬ natures is 'Mogadiscio 1962/ being the place and date of issue, and the left-hand margin contains the decree under which the notes were issued: 'Decreto P. R. 5 Marzo 1962 N.87/ b The significance of the date that appears on the notes under 'Moga¬ discio' is not understood. The decree suggests that the date of '1962' that appears below 'Mogadiscio' re¬ flects the date of authorization, but it might also be the date when the notes were placed into circulation. As this date is not always, on sub¬ sequent issues, the same year as the date of the decree, it suggests that it is intended to be the year when the notes were placed into circulation. Finally, in the lower margin is the printer's imprint: 7.P.S. Off. Carte Valori-Roma". The signatories for this series are Dr. Abdi Aden Mohamed 8 , sign¬ ing as II Presidente (i.e. President of the Board of Directors), and Ahmed Shire Addawe, signing as // Presiden¬ te del Collegio dei Revisori (i.e. Presi¬ dent of the Board of Auditors). The role of the Board of Auditors was to audit the accounts of the Bank and ensure that the figures reported in the balance sheet were correct. The Board was in effect an internal audit committee, conducting a role that was later taken on by external audi¬ tors. The differences for each note in this issue are simple but effective, the differences are: the size, the colors, the vignettes on the face of the notes and the illustrations on the back of each note. The details of the The face of 20-shilling note shares common design features of the other notes issued by the National Bank in their first series. The vignette is of bananas. 14 The headquarters of the National Bank of Somalia appear on the back of the 20-shilling note. VOLUME 45, NO. 1 Traditional domestic handicrafts of Somalia arc illustrated on the face of the 100-shilling note. The former National Assembly building is depicted on the back of all 100-shilling notes of the first four issues by the National Bank of Somalia. individual notes are: 5 shillings Size: 152 x 72 mm Vignette: The head of a kudu. Illustration on back: A dhow under sail. Dominant color: Red. 10 shillings Size: 152 x 72 mm Vignette: The flower of a cotton plant. Illustration on back: A scene of the Juba River. Dominant color: Green. 20 shillings Size: 164 x 81 mm Vignette: A bunch of bananas. 0lustration on back: The headquarters of the National Bank of Somalia. Dominant color: Burgundy, 100 shillings Size: 164 x 81 mm Vignette: Traditional domestic handi- crafts of Somalia. Illustration on back: The former Na¬ tional Assembly building in Mogadishu. Dominant color: Blue. It should be noted that while the illustration on the back of each note is different, the design on the back of each note is also different. This is un¬ like the face of each note where there are many similar design elements, particularly for the 5- and 10-shilling notes and again for the 20- and 100- shilling notes. The vignette on the 5-shilling note is the head of a greater kudu, which is a type of antelope inhabit¬ ing East Africa. The head of a kudu had been used for many years on the official badge of British Somaliland and its use on a bank note issued for united Somalia is in deference to the Northern Region. 9 The 10-shilling note displays a flower from a cotton plant and the 20-shilling note carries an illustration of a bunch of bananas. Both crops were introduced to So¬ malia by the Italians. Bananas were introduced as an experimental crop by the Duke of Abruzzi, a pioneer of agriculture in Somalia. Cotton had been introduced quite early in the development of Somalia and for many years it was the principal ex¬ port from Somalia. However, in 1932 banana exports overtook cotton as the highest earner of revenue for the colony, although the export of cotton continued to grow over the ensu¬ ing years and both products earned significant revenue. The illustration on the face of the 100-shilling note is of traditional handicrafts, including a 'hero' (a small bowl), a figurine, a tall vessel and a musical instrument (possibly of the type called a 'sha- reero'). The illustration on the back of the 5-shilling note shows a traditional vessel under sail. This type of vessel was used for trading up and down the coast. The back of the 10-shil- ling note shows a riverine scene of the Juba River, in southern Somalia. The area between and around the Juba and Shebelle rivers is the most fertile in Somalia and it provides the principal areas of cultivation in the Southern Region of Somalia. Printed by De La Rue, the notes of the National Bank's second issue were redesigned, while maintaining the basic character of their prede¬ cessors. (Compare this image with the earlier 5-shtlHng noted 15 While very similar to the back of the previous 5-shilling note, the oval pattern around the watermark has been replaced with a circle for the De La Rue note. l.B.N.S. JOURNAL The De La Rue notes of this pattern were issued in 1966,1968 and 1971* This issue of 1968 shows the additional colors added to the background of the note, an enhancement over the Italian notes of the first issue* Color is also added to the back of the notes. I*erhaps enhancing the security of the note, the extra color does not necessarily enhance the design. The back of the 20-shilltng note shows the headquarters of National Bank in Mogadishu. An unimpos¬ ing structure, it says much for the buildings in Mogadishu at the time of independence* A second building appears on the back of the 10G-shil- ling note, this being the National Assembly building in Mogadishu, A symbol of the democratic union of Somalia in the early 1960s, the build¬ ing became the headquarters of the local government authority after the military regime took over in 1969. It has also been used as a courthouse at various times* The notes of the first issue were authorized under the "Decree of the President of the Republic No*86 of 5 th March, 1962" and this decree includ¬ ed draft specifications for the issue of notes in Somalia* The specification can be considered a "draft/ as there were certain aspects of the issued notes that differ from the published decree. Firstly, the size of the notes in the decree are given as 142 x 62 mm for the 5- and 10-shilling notes and 155 x 70 mm for the 20- and 100- shilfing notes, but all issued notes were in a Larger format. Secondly, the vignette on the 5-shilling note was originally intended to be "the head of an ostrich/ whereas the head of a greater kudu has been used on the is¬ sued note* The adoption of the kudu was almost certainly due to pres¬ sure from elements of the Northern Region (i.e. former Somaliland) to retain their former symbol on one of the notes. The Second Issue The second issue of bank notes by the National Bank is similar to the notes of the first issue, but significant changes occurred in this issue* The changes are due to Thomas De La Rue and Company of Great Britain taking over the production of notes for the National Bank of Somalia* The notes, while similar to their predecessors, have been redesigned, with some of the more obvious changes being: the borders on the face and back have been redrawn; the circle holding the watermark re¬ places the oval found in the previous issue; the illustrations and ornamen¬ tal patterns have been redrawn; and the ornamental patterns have been printed with bolder colors* Signifi¬ cantly, a background color has been introduced for each note, both on the face and the back* There is also a change to the font used for the serial numbers. The notes of the second issue carry the date of emission as "Moga¬ discio 1966" and the decree autho¬ rizing their issue appears in the left-hand margin as: *Decreto P RA4 SettembreI966 NA96 *' The signatories for this issue are Sheik Abdi Haji Abicar JL1 , signing as // Presidents, and Haji Yahya Haji Abdullahi 11 , signing as II Presidents del Collegia dei Revisori. An innovation was brought to this series with the introduction of two fluorescent features, being the use of a fluorescing security thread and the ( The 5-shilting note of the National Bank's fourth issue is the only note in these series to change its color. Originally red, this denomination is brown in the fourth issue. The change in color is continued on the back of this 5-shilling note. 16 VOLUME 45, NO. 1 This 100-shilling of the fourth issue by the National Bank utilizes the same pattern for all notes prepared by De La Rue between 1966 and 1971, ft is based on the Italian design issued in 1962. De La Rue's version of the National Assembly as depleted on the back of the 100-shilling notes issued in the second, third and fourth issue by the National Bank, use of fluorescing ink The security thread can be detected running just to the right of centre. When a clean note is held to the light, a light brown thread can be seen. When the note is subjected to ultra-violet light the thread will fluoresce as a blue color. Over the watermark, the denomination of the note is repeated eight times in ink that is invisible in normal light, but which becomes vis¬ ible in ultra-violet light. The denomi¬ nation is written four times in Arabic numerals and four times in western numerals. Each repetition of the number in fluorescent ink is written in a different font, making it difficult for counterfeiters to copy the feature. The Third Issue The notes of the third issue by the National Bank of Somalia are identical to those of the second issue, except for the date of issue, the title of one signatory, and the signatories. The date of issue is given as '1968' at the bottom of the note and the refer¬ ence to the authorizing decree in the left-hand margin reads: 'Decreto P. R. 5 Dicembre 1968 N.276/The signato¬ ries for this issue are Dr. Abdullahi Ahmed Addow 12 , signing as II Cov¬ er natori (Governor), and Maslah Ali Mohamed, signing as II Presidente del Collegia dei RevisorL The change in title of the first signatory from 11 Presidente to II Governatori is a precursor to changes wrought in the Somali banking system during 1968. Under Decree- Law No,6 of 19 October 1968 the Somali National Bank was to absorb the Somali Credit Bank and, within a maximum period of one year, the National Bank was to separate its functions as a commercial bank and central bank. The new law also dictated that the bank was to be headed by a Governor rather than by a President, as well as reforming the composition of the board {limiting it to five members). This issue of bank notes sees a re¬ duction in fluorescent features. The light brown security thread that fluo¬ resces remains, but there is no longer any fluorescing numbers placed over the watermark. The Fourth Issue In October 1969 a revolution saw the overthrow of the elected government and the assumption of rule by the Supreme Revolutionary Council. The Council was manned by members of Somalia's military' and was led by General Muhammad Siad Barre. The immediate effect on the National Bank of Somalia was significant, with the Bank's Board of Directors and the Board of Auditors dismissed and not replaced. Howev¬ er, the effect on the Bank's note issue was negligible, as the fourth issue of notes was almost identical to the preceding issues. The changes introduced in this series primarily concern the date of issue, the form of the decree, and the signatories. The date of issue is '197V and the decree in the left- hand margin, which reflects a subtle change in Somalia's political struc¬ ture by the authority under which it is issued, now reads : # Decreto PCRS 20 Luglio 1971 N.175.' 13 ; i.e. the decree is issued under authority of the President of the Supreme Revo¬ lutionary Council as opposed to the President of the Republic. Following the removal of the Board of Auditors a second signatory was required to replace the signature of the President of the Board of Auditors. The officers of the Bank decided to follow the examples of the Banca dTtalia, whose notes carried the signatures of the Governor and the Cashier, and the Bank of England, whose notes carry only the signature of the Cashier. Therefore, the signatories for this is¬ sue are Dr. Abdurahman Nur Herzi l4 , signing as // Governatori , and Mo¬ hamed Dalmar, signing as // Cassiere (Cashier). The only other change concerns the 5-shilling note. For an unknown reason the color of this denomina¬ tion was changed, while the design remained unaltered. Forgoing the red color that had been used on the previous three issues, the 5-shilling note became chocolate brown and the colors in the centre of the note became darker. This note is printed entirely by the lithographic process and the change in color may be due to the discontinuation of the intaglio process that was used on all previ¬ ous issues. This is one of few Somali issues where it is known when the notes were released into circulation. The 17 I.B.N.S. JOURNAL 100- and 20-shilling notes of this issue went into circulation on 10 March 1972, with the 10- and 5-shil¬ ling notes introduced a couple of months later* H As the date in the decree authorizing these bank notes and the date below 'Mogadiscio' are both 1971, the belief that the second date refers to the year when notes were placed into circulation is not supported by this issue; unless the notes were planned for release in 1971 and were delayed. Notes in this issue carry a fluorescent secu¬ rity thread, but no other fluorescent feature. The Fifth Issue In 1970 the new regime of Mo¬ hammed Siad Barre launched its pro¬ gram of 'Scientific Socialism. 1 One of the immediate effects of the intro¬ duction of socialism was the nation¬ alization of the four foreign banks then operating in Somalia - Banco di Roma , Banco di Napoli, National and Grind lays Bank and Banque de Port Said> In place of the four foreign banks the government established the Somali Commercial Bank and the Somali Savings and Credit Bank. In late 1974 a new series of bank notes was prepared and at this time the opportunity was taken to 'So- malize' the bank notes, resulting in the issue of dramatically new bank notes. Although the notes introduced completely new designs, the most significant aspect of the notes is the text on the face of the notes, which is written in Somali. While this may be seen as an act of shedding the rem¬ The fifth issue by the National Bank of Somalia saw a dramatic change to the design of the notes. The use of wildebeest and zebra on the face of this note was later discovered to be a mistake! Again printed by Thomas De La Rue and Company of Great Britain, the first aspect of the new notes that is apparent to the casual observer, is that there is no white margin on any of the bank notes. The notes are full of color, with varied designs and de¬ tailed illustrations on the face of each note. Keeping with the tradition of the earlier issues, the 5- and 10-shil- ling notes are of a common size and have a common design on the face of the notes, although the illustrations are different. Similarly, the 20- and 100-shiiling notes are the same size and share a common design, while also bearing different illustrations. Unlike the earlier issues, the two pairs of notes use common designs on the back. Sharing similar colors to their predecessors, the 5-shitlmg note is burgundy, the 10-shilling note is green, the 20-shilling note is brown, and the 100-sliilling note is blue. Common to all notes are the Somali coat of arms (to the left), the text, and the watermark. The coat of arms consists of two leopards supporting a shield that contains the Somali five-pointed star lh , below which are crossed palm leaves, crossed spears and a scroll that bears no text. The text on each note is the same, save for the denomination. The text on the 5-shilling note reads (from the top): 'Bankiga Qaranka Soomaaliyeed' (National Bank of So¬ malia) in bold letters, 'XEER MGSK 11KH DISEEMBAR1974 LR134' 17 in small text at the upper left, '5 Shilin Soomaali' in the upper centre, and Bananas, a staple export of Somalia, are represented on the back of the 5-shilling note. nants of Italian colonialism, which had been retained through the use of Italian text on the previous issues, the use of Somali text is of greater significance than displaying a post- colonial nationalism. Somali is a rich language that was used to record a long oral tradition of its peoples, but for many years it was not a written language. Due to the contact of Somalis with the Islamic world, Arabic script was adopted to write the language, but the foreign script was not well suited to writing the spoken word. In 1920 Isman Yusuf Kenadid created a script for Somali which came to be called the Osmaniya script. While this gained reasonably wide acceptance in some areas of Somalia, it was not universally adopted and it was difficult to spread amongst a largely illiterate population. As Somali nationalism grew, the adoption of a universally recognized script for Somalia became a significant point of discussion. After independence was gained, no progress was made on the issue, as opinion was divided over whether Arabic or Latin script should be used. (By this time argu¬ ment in favour of the Osmaniya script had lost support.) Ultimately, on 21 October 1971, Siad Barre's gov¬ ernment unilaterally decided to use the Latin script for writing Somali and the government launched a mas¬ sive education program, designed to educate the people and to ensure the Latin script was adopted. This is why, for the fifth issue, Somali text was introduced to the bank notes. 18 VOLUME 45, NO. 1 Sometimes mistaken as a 'lighthouse', the minaret of the ruined Ab- Traditional shipbuilding is depicted on the back of the 10-shiliing note. dul Aziz Mosque in Mogadishu is depicted on the notes of the new design. 'Muqdisho 1975' at the bottom. The denomination is written twice in So¬ mali ("5 shiMn' in top left and bottom right) and twice in English ('5 shil¬ lings' in bottom left and top right). The signatories on the notes are now Taliyaha' (Governor) and 'La- caghayaha' (Cashier). The Taliyaha is Dr. Omar Ahmed Omar and the Lacaghayaha is Mohamed Dalmar. All notes of this issue carry a series number and a serial number* The se¬ ries number always commences with 'J/ (See the section on 'Series Num¬ bers' toward the end of this study.) The watermark is the turbaned head of Sayyid Mohammed Abdul¬ lah Hassan (or Sayyid Maxamed Cabdulle Xasan). Hassan was a religious and nationalist leader who led opposition to the British in So¬ maliland from 1900 to 1920* Known by the British as the 'Mad Mullah/ he tried to unite Somalis into a na¬ tion that transcended clan divisions. Hassan was an orator and poet of renown, with many of his poems being regarded as classics of Somali literature. With his vision and his powers as an orator he developed a strong band of followers; known as dervishes, and in 1899 he declared jihad against the colonial powers and their supporters. Although he had some success over the ensuing years, he was usually under the control of the colonial powers that he was chal¬ lenging* Following a rising in 1920 he was defeated and fled to Ogaden, where he died in the same year from influenza. Hassan is today revered in Somalia as a freedom fighter as well as a poet. The text on the back of the notes is in mixed languages* Across the top is 'Somali National Bank' in Arabic, fol¬ lowed by the same phrase in English. The Arabic numeral for five is in the top left and the bottom right, wiiile '5 shilin soomaali/ i*e. in Somali text, appears in the bottom left and top right. This series sees the use of two fluorescent security features. The brown security thread is again used and it continues to fluoresce under ultra-violet light. In addition, the fluorescent feature of eight repeti¬ tions of the note's value, previously used in the National Bank's second issue, is re-introduced in this series. However, instead of being over the watermark, as it was found in the second issue, the feature is now in the centre of the note. The details of the individual notes are: 5 shillings Size: 153 x 72 mm Illustration on face: Three wildebeest and two zebras on an open plain. Ba¬ nana leaves are at the left and right Illustration on back: Men harvesting bananas in a plantation. Dominant color: Burgundy. 10 shillings Size: 153 x 72 mm Illustration on face: The minaret of the ruined Abdul Aziz Mosque, located in Mogadishu. It was Mogadi¬ shu's first mosque and is now revered as a holy memorial to Abdul Aziz, the man responsible for building the mosque. Illustration on back: Men building boats in the traditional manner. The headquarters of the National Bank of Somalia are depicted on the face of the new 20-shilling note. 19 Cattle, walking along a river bed, are illustrated on the back of the 20-shilling note. I.B.N.S. JOURNAL The new design for the 100-shilling note depicts an allegorical figure of a woman brandishing a gun in one hand, a shovel and an adze in the other, whilst still managing to carry a child, A symbol for liberty, the woman is adjacent to an illustration of the Stone-thrower's monument. The back of the 100-shilling note carries an illustration of women working in a food processing plant. (Note, for later comparison, the woman at the right with the wheelbarrow.) Dominant color: Green. 20 shillings Size: 165 x 80 mm Illustration on face: The headquarters of the National Bank of Somalia. Illustration on back: A herd of cows walking along the dry bed of a river (with just a Little water apparent). Dominant colon Brown. 100 shillings Size: 165 x 80 mm Illustrations on face: a) The 'Dagahtur' (alternatively ' Dagax Tur ')/ or 'stone-throwers/ Monument. This monument cel¬ ebrates a famous incident, wherein members of the Somali Youth League engaged their colonial overlords in a battle of stones against guns. Several members of Youth League died in the incident and it became a watershed in the movement of Somalia towards independence. b) An allegorical figure of a woman, carrying her baby but brandishing a gun in one hand and agricultural implements in the other. Beneath her are laurel leaves of victory and be¬ hind her is the rising sun. (The evoca¬ tive image is part of the propaganda spread by the socialist government running Somalia at this time.) Illustration on back: Women working in a fruit processing plant, of the type used to process mangoes and papaya. Dominant color: Blue. The Central Bank of Somalia The First Issue In 1975 there was a change to the structure of banking in Somalia. The two commercial banks, created in 1970, were amalgamated into the Commercial and Savings Bank of So¬ malia. At the same time, the Nation¬ al Bank of Somalia was renamed the Central Bank of Somalia. This event occurred around the same time that the last notes issued by the National Bank were being prepared for intro¬ duction, so it was inappropriate for a new issue under the authority of the Central Bank to be prepared imme¬ diately. However, a new issue was ultimately prepared and released into circulation, roughly three years after the changes to the banking system. This issue is the same in most aspects to the previous issue, with the differences primarily appearing in the text on the notes. The changes to the text are: * The title of the issuing author¬ ity is changed to 'Bankiga Dhexe Ee Soomaaliya' (Central Bank of Somalia) * The decree reads 'XEER MJDS 6D11 DISEMBAR 1977 LR74' 1 * * The date at the bottom of the note now reads T978' * The series identifier changes to T' In addition, the signatory for the Lacaghayaha is All Sheikh Hussein, while Dr. Omar Ahmed Omar con¬ tinues to sign as Taliyaha. The only other differences, between the notes of the last issue by the National Bank and the initial issue of the Central Bank, were to the 5- and 100-shilling notes. The il¬ lustration on the back of the original 100-shilling note shows a group of women sorting fruit in a processing plant, with one women standing to the right holding a wheelbarrow. On the notes of the new issue, the wom¬ an on the right and her wheelbarrow have been removed and they remain absent in all future issues where this illustration is used. For the 5-shil- ling note, the color of the note has become brighter and may now be called red (although it has a touch of crimson). Minor as the change of color may have been, a more sig¬ nificant change occurred during the period of this issue when a second variety of the 5-shitling note was introduced. The second variety saw the removal of the illustration of the three wildebeest and two zebras and the introduction of an illustration of a herd of water buffalo. The illustration of the wildebeest and zebras was introduced on the last issue of the National Bank and retained on the first issue of the Central Bank. However, wildebeest inhabit southern and eastern Africa, as far north as the acacia savannas of Kenya, but they do not inhabit So¬ malia. Zebras, while not common in Somalia, do range into Somalia and Ethiopia from northern Kenya, but it is doubtful whether they can re¬ ally be regarded as an animal native to Somalia. White the depiction of zebras on Somali bank notes might just be acceptable, the inclusion of f f 20 VOLUME 45, NO. 1 This note is almost the same as the note of the previous issue, but the Again, very similar to the note it replaces, it is simply the change in issuing Authority is now 'Bankiga Dhexe ee Soomaaliya', which is the issuing authority that distinguishes this note. The Central Bank of Somalia', as opposed to the previous title of the 'National Bank of Somalia'. wildebeest on this and the previous issue appears to have been a mistake by the bank note designer; a mistake which was not picked up during the design and approval processes. It is strange that the error persisted from the last issue of the National Bank to this issue before the correction was made, but it was corrected with the introduction of the second variety of the 5-shilling note. A further issue of the 10-, 20-, and 100-shilling notes was made in 1980 and this mav be referred to as the "X' series or the 1980 issue. All details of the previous issue are maintained except for the date of issue, the serial numbers, a change in title of a signa¬ tory and the actual signatories. The decree authorizing this issue reads XEER MJDS 5TII ABRIL 1980 LR52 and the inscription at the bottom of the note complements the decree by reading MUQDISHO 1980. There are two changes to the serial numbers. Firstly, the series number is now 'X' and, secondly, the series number and Having discovered that wildebeest do not wander in Somalia, the animals on the previous 5- shilling notes were replaced with the drawings of water buffalo. serial number are printed in red ink, whereas for all previous issues these numbers were printed in black ink. The title given to the head of the Bank changes in this issue from Taliyaha' to 'Guddoomiyaha' and the actual signatories for this series are Mohamud Jama Ahmed, signing as Guddoomiyaha, and Barre Haji Omar, signing as Lacaghayaha. In identifying a Somali word that could be used to mean 'Governor/ the word Taliyaha' was originally cho¬ sen. However, Taliyaha also has a meaning of 'Commander' and it was felt that this meaning of the word was inappropriate for the Governor of the Bank. Therefore the word 'Guddoomiyaha' was chosen as an alternative. Guddoomiyaha may be translated as 'Chairman/ 'Mayor' or 'Governor/ In 1981 the 'KH' series was intro¬ duced. This series consists of just two denominations, 20 and 100 shillings. They are identical in all respects to their predecessors, save for refer¬ ence to the dates on the notes and the series number. The series number is now 'KH/ while the decree reads XEER MJDS 9KII DI1SAMBAR 1981 LR66 and the inscription at the bot¬ tom of the note reads MUQDISHO 1981. SOOMAALI RANK IGA DHEXE 035027 ic.. i BANKICjA DHEXE EE SOOMAAT !YA 102142 SOOMAALI The 10-shilling note of the Central Bank of Somalia is the same design as that of the previous issue, with the exception of the change in issuing authority. 21 The 20-shilling note of the first issue of the Central Bank of Somalia, in the pattern of the last 20-shiUing note issued by the National Bank. I.B.N.S. JOURNAL The face of the first 100-shilling note of the Central Bank of Somalia, The back of the lOO-shilling note issued by the Central Bank is simi- The Second Issue In late 1982 preparations were put in place for tire introduction of a new series of bank notes. The pertinent decree was enacted in December 1982 and in 1983 the notes were released into circulation. The notes of this series are similar to the notes of the preceding series, but they are reduced in size and this reduc¬ tion meant that each note had to be redrawn. Even though the notes have been completely redesigned it often requires a second look to identify the differences between the new notes and the notes they replaced—so similar are the designs. The excep¬ tion is the 5-shilling note, which is immediately identifiable as a dif¬ ferent design. However, the 10-, 20- and 100-shilling notes have very similar characteristics to the notes they replaced. In addition to the four traditional denominations released in Somalia over the previous thirty years, this issue sees the introduction of a new denomination of 50 shil- lings. Jar to the previous note issued by the National Bank. The title of the issuing authority has changed, as expected, but the woman with the wheelbarrow that was depicted in the illustration on the previous issue is now missing. The notes of this series have sev¬ eral features common to each note, with the exception of the 5-shilling note. Firstly, the Somali star appears as a perfect registration device, at the bottom on the face of each note, registering perfectly with a comple¬ mentary image on the back of the note. Secondly, a new fluorescent device consisting of a solid disc of ink, in which the Somali coat of arms is depicted, is centred on the face of each note. To the left of the fluorescent disc is the value of the note in western numerals and to the right is the value in Arabic numerals. Thirdly, the light brown, fluorescing security thread appears to the left of each denomination and, finally, the watermark of Sayyid Mohammed Abdullah Hassan appears in a pale area to the right. The 5-shilling note lacks all these features except the fluorescent fea¬ ture, which appears at the right on the face of the note. It has no per¬ fect registration device, no security thread, and no watermark. In addi¬ tion, it has only one serial number whereas all other denominations have two. The simplicity of these notes is undoubtedly due to the low value of the note. The decree on the notes of this is¬ sue reads XEER MJDS 30KII D1SEM- BER 1982 LR 67 19 and the date and place of issue reads: MUQDISHG 1983. This is the third time that the date at the bottom of the note has differed to the date in the decree 20 and, as such, reinforces the sugges¬ tion that the second date was intend¬ ed to indicate when the notes were expected to be placed into circula¬ tion (although this objective was not always achieved). The signatories for this issue are Mohamud Jama Ahmed, signing as Guddoomiyaha, and Hassan Elmi Barkhadle, signing as Lacaghayaha. The series identifier for these notes always commences with 'D/ The details of each note in The 5-shilling note of the second series issued by the Central Bank. Reduced in size, the Lowest denomination note is dramatically different to its predecessor. 22 The back of the reduced-size 5-shilling note VOLUME 45, NO. 1 VKIGADHEXE SOOMAALn A IHJ i f/m *KtTn*fc5 IU SHI LIN SOOMAALI The redesigned 10-shilling note has the illustration of the minaret The smaller 10-shilling note is very similar to its predecessor, apart of the Abdul Aziz Mosque at the left and the Somali star as a perfect from the perfect registration device, but a comparison will show that registration device. the border patterns have been re-drawn. this new series are: 5 shillings Size: 120 x 60 mm Illustration on face: A herd of water buffalo. Illustration on back: Men harvesting bananas in a plantation. Dominant color: Burgundy, 10 shillings Size: 133 x 68 mm Illustration on face: The minaret of the remains of the Abdul Aziz Mosque, located in Mogadishu. Illustration on back: Men building boats in the traditional manner. Dominant color: Green. 20 shillings Size: 137 x 70 mm Illustration on face: The headquarters of the Central Bank of Somalia. Illustration on back: A herd of cows walking along the dry bed of a river (with just a little water apparent). Dominant color: Brown. 50 shillings Size: 142 x 72 mm Illustration on face: The ruins of an old mosque, located in the older part of Mogadishu known as Hamar weyn. (Also spelt 'Xamar Weyne/) Hamar weyn was one of the two original quarters, or districts, of Mogadishu. The mosque was built by Sultan Said Barkash, who was a representative of the Sultan of Oman at the time the Sultans of Oman ruled the coast of Somalia. Illustration on back: A gathering of camels, sheep, cattle and farmers at a feeding trough, representing the agricultural wealth of Somalia, Dominant color: Orange. 100 shillings Size: 148 x 74 mm Illustrations on face: a) The 'Dagahtur/ or "stone-throwers, 1 Monument. b) A female allegorical figure, carrying her baby but brandishing a gun in one hand and agricultural implements in the other. Illustration on back: Women work¬ ing in a fruit or vegetable processing plant Dominant color: Blue, This series of notes was subsequently re-issued over a number of years. The face of the reduced size 20- shilling note, with modifications similar to other notes in this series. although each issue did not necessar¬ ily include each denomination. Each time that the notes were re-issued, the only elements on the note that changed were the signatories and the date of issue. {The decree authorizing the notes remains unchanged,) The various issues are: Date: 1986 Signatories: Dr. Omar Ahmed Omar and Hassan Elmi Barkhadle. Denominations: 5,10,20,50 and 100 shillings. Date: 1987 Signatories: Dr. Omar Ahmed Omar and Hassan Elmi Barkhadle. Denominations: 5,10, 20, 50 and 100 shillings. Date: 1987 Signatories: Dr Mahmud Muhom- mad Nur and Hassan Elmi Barkhadle. Denominations: 50 and 100 shillings. Date: 1988 Signatories: Dr Mahmud Muhom- mad Nur and Hassan Elmi Barkhadle. Denominations: 50 and 100 shillings. As the Somali economy began to collapse in the late 1980s, inflation rose and it was necessary to issue a higher denomination note. So, in 1989, when a new release of the 20, 50- and 100-shilling notes was made, the existing denominations, which were unchanged from the preced¬ ing series except for the date, were joined bv a 500-shilling note. The new note carries many similarities to the other notes in this series. It has 23 I.B.N.S. JOURNAL BANKJQA DHEXE R SOOMWI iy\D t r - SMtfl - ^ 425452 SHILN^C^bOMAALI The 50-shilling note was introduced for the first time in this series. The face of the note depicts the mins of an old mosque. Located in Hamarweyn (a district of Mogadishu). The back of the 50-shilling note displays the agricultural wealth of Somalia. the same series number, the same watermark, the same security thread and the same fluorescent feature as the other notes issued in the previ¬ ous six years. The signatories remain as for the preceding issue, being Dr. Mahmud Muhommad Nur and Has- san Elmi Barkhadle. There are how¬ ever, two differences. Firstly, the 500- shiliing note carries a new decree, with the text on the note reading XEER MJDS IDA JANNAAYO 1989 LR7, Secondly, the series numbers and the serial numbers of the high- denomination note fluoresce when submitted to ultra-violet light. By 1989 the Somali economy was weakening daily and, as the situa¬ tion worsened, a further supply of notes was ordered. As there was a diminishing requirement for small denomination notes, only the new 500-shilling note was ordered. The single feature that identifies the later issue of 1989 is the change in sig¬ nature of the Guddoomiyaha. The later notes carry the signature of Dr, Omar Ahmed Omar. As the situation spiralled out of control, a further issue of the 500-shilling note was made and a 1000-sh i 11 ing n o te wa s in t rod uc e d, The 500-shilling is in all respects the same as the second issue of 1989, except that the date of issue is 1990. The new 1000-shilling note is in a number of vcays similar to the notes that preceded it, but there are some subtle changes. The design of the note is similar to the 500-shilling note and the fluorescent security thread and watermark used on this note are the same as for previous issues in this series. However, the placing of the perfect registration de¬ vice changes (being split between the top and bottom of the note), the font used for the serial numbers changes (although they still fluoresce), and the fluorescent feature is changed. In place of the disc containing the coat of arms, a simple fluorescent device of the denomination, i.e. '1000/ is superimposed on the signatures. In addition, the yellow ink on the back of the note fluoresces under ultra¬ violet light. (This is the first time that fluorescent ink has been used on the back of a Somali note.) Not surprisingly, a new decree authorized the issue of the 1000- shilling note. The text on the bank note that refers to the decree The 1 Oft-shilling note of this series displays similar changes to the other notes in this series. reads: XEER MJDS IDA JANNAAYO 1990 LR.10 and the date of issue is 1990. The signatories for the 500- and 1000-shilling notes continue to he Dr. Onaar Ahmed Omar and Hassan Elmi Barkhadle. Details of the two high denomination notes issued in 1989 and 1990 are. 500 shillings Size: 148 x 74 mm Illustrations on face: At the left, a seated fisherman is mending a fishing net, while just to the right of centre is a standing man propelling a tradi¬ tional boat. Illustration on back: The 'Masaagidka Isbaheysiga' or "Solidarity Mosque' in Mogadishu. It is sometimes referred to as the 'Saudi Mosque/ as it was built with assistance from Saudi Arabia. The mosque is not built in the traditional style of Somali mosques, which typically ha%^e cupolas over the roof. Dominant color: Green, 1000 shillings Size: 154 x 76 mm Illustration on face: Somali women weaving baskets. Illustrations on back: An aerial view of the old port of Mogadishu at the top of the note and a panorama of the foreshore of old Mogadishu at the bottom of the note. Located one third from the left of the panorama is the Said Barkash Museum, Many of the buildings in this panorama are be¬ lieved to have been destroyed during the civil war and disturbances that have wracked Somalia since 1991, Dominant color: Orange. By 1990, the economic crisis called f } 24 VOLUME 45, NO. 1 The 500-shilling note was introduced into this series as inflation took hold. The face of the note shows fishermen and aspects of Somalia's marine life. The back of the 500-shilling note depicts the 'Solidarity Mosque', which was built in Mogadishu with assistance from Saudi Arabia for change in currency. The govern¬ ment acted to reform the currency by creating the New Somali Shilling, with one New Shilling being equal to one hundred old Somali Shillings, Notes in the denominations of 20 and 50 new shillings were ordered by the Central Bank, The notes are smaller in size than the notes of the previous series, but their design is reminiscent of the 500- and 1000- shilling notes of the preceding issue. The two 'onion-domed' arches, the panel at the left, and the horizon¬ tal lines in the left- and right-hand margins are similar to the 500- and 1000-shilling notes and the split per¬ fect registration device of the Somali Star is the same as for the 1000-shil¬ ling note. The decree authorizing their issue is referred to by the following text on the notes: XEER MJDS LR.46 18.09.1990. The date and place of issue are MUQDISHO 1991 and the signatories remain unchanged from the last notes of the previous issue. being Dr. Omar Ahmed Omar and Hassan Elmi Barkhadle. The denom¬ ination of each note is written in the four comers on the face and the four comers on the back of the note. On the face the denomination is written twice in Somali and twice in English, while on the back it is written twice in Arabic, once in English and once in Somali. The serial numbers change their format on these notes. Instead of the series number and the serial number of the previous issues, these notes carry a serial number with a prefix. The prefix for each note commences at'AA/ The serial numbers fluoresce and a new fluorescent device is used on the notes. The device is a solid block of ink, in which the denomina¬ tion, i.e. 'N20' or 'N5Q/ is represent¬ ed by the absence of ink. 20 new shillings Size: 134 x 68 mm Illustrations on face: A Somali man with a camel. Illustration on back: Women harvest¬ ing cotton. Dominant colors: Red, purple and green 50 new shillings Size: 138 x 71 mm Illustrations on face: A man weaving doth at a hand loom. Illustration on back: A woman with three children on a donkey. Dominant colors: Light brown, dark brown and green. By late 1990 Somalia was in an un¬ stable situation. On 27 January 1991 Siad Barre was thrown from office and forced to flee Mogadishu. The United Somali Congress (USC) then declared Ali Mahdi Mohamed as the interim President on 29 January, However, the USC was only one of a number of rebel movements that had been formed in opposition to Siad Bar re's government and none of the other organizations were particularly pleased with the unilateral move of the USC. On 18 May the Somali Somali women weaving baskets are depicted on the 1000-shilling bank note. This note soon became the workhorse of the Somali economy, only to become small change in a matter of ten years. Two views of Mogadishu adorn the hack of the 1000-shilling note. Many of the buildings depicted in the panorama have been destroyed during the civil war. 25 I.B.N.S. JOURNAL 309942 1 628610] 7S555S’ 5229521 566616 Five serial numbers from 1000-shilling notes, all with differing fonts or number of characters. The top example is from an original issue and the bottom is from an issue from Puntland. National Movement (SNM) pro¬ claimed independence for Somalil¬ and, which is the Northern Region of Somalia that was formerly British Somaliland. While the secession of Somaliland was not recognized inter¬ nationally, it was not immediately challenged to any great degree from within Somalia (although it was later engaged in struggles with southern forces). In November 1991 a civil war broke out in Mogadishu between the supporters of Ali Mahdi and General Mohamed Farah Aideed. The civil war saw an estimated 14,000 killed, 27,000 wounded, and no victor. In addition, many Somalis fled Somalia, establishing a diaspora throughout the world. It was into the madness that was Somalia in 1991 that the New Somali Shillings were delivered from the manufacturer. With no ef¬ fective central government and no functioning central bank, these notes were seized by Ali Mahdi, whose army and supporters were referred to as the "Mogadishu northern forces/ These notes have continued to circulate in the areas under the control of the northern forces. As fighting escalated and central control of the country evaporated, control of the currency reserves also disappeared, in a very short period of time, the Somali shilling depreci¬ ated to the point where it was worth very little. Other currencies began circulating in lieu of a stable Somali currency. American dollars, Ethiopi¬ an birr, Saudi riyals and the dirhams of the United Arab Emirates have all found a place in the Somali economy. However, the Somali shilling found a niche as small change to the foreign currencies and they remained a significant medium of exchange for small businesses, market traders and the poorer sections of the commu¬ nity. From 1992 the international com¬ munity, through the auspices of the United Nations, attempted to bring stability to Somalia, but to no avail. Somalia became more fragmented with warlords fighting to establish small areas of influence and inde¬ pendence. As the warlords fought over relief supplies and the struggle for control of specific political and economic areas, drought, famine and disease hit Somalia. An estimated 300,000 people died in this period, either directly, due to the fighting, or indirectly from starvation or disease. Realizing that their efforts had been inadequate, the United Nations sent a multi-national force, led by the United States, to Somalia in Decem¬ ber 1993. After a period of unsuc¬ cessful engagement, the American troops were withdrawn by 31 March 1994 and the remaining United Nations forces struggled on until March 1995. Their efforts achieved negligible results and Somalia was still a broken and disturbed nation when the United Nations forces were withdrawn. Somalia was now divided into several spheres of influence that remained reasonably static for a number of years. Ali Mahdi Mo¬ hamed controlled areas around and to the north of Mogadishu; Mo¬ hammed Farah Aideed controlled areas around and to the south of Mogadishu; Mohamed Ibrahim Egal controlled most of the former British protectorate, which had established itself as Somaliland; and Abdillahi Yusuf established a separate admin¬ istration in Puntland, the north¬ eastern area of Somalia. Several other areas fell under the control of competing warlords. . In 1996 Mohammed Farah Aid¬ eed, still the head of one of the major i forces in Somalia, placed an order for Somali shillings with the Brit¬ ish American Banknote Company, a Canadian company based in Ottawa, Despite condemnation in Canada for the transaction, the bank notes were printed and delivered to Somalia. The deal was evidently brokered by a Malaysian businessman on behalf of Aideed. However, Mohammed Farah Aideed never saw the money, as he died on 1 August 1996 from wounds received during a battle in Mogadishu. Ultimately, his son, Hussein Aideed, and other members of his clan received four shipments of the currency that was estimated at 165 billion Somali shillings. The notes printed for Aideed were probably in denominations of 500 and 1000 shillings, although this has not been confirmed, and they can be identified in a number of ways. Firstly, the notes carry the date '1996' at the bottom of the notes and they are signed by Ali Amalow a s G ud doo miy a h a. Am a low w as appointed Governor of the Central Bank of Somalia in October 1990, just prior to the fall of Siad Barre, and he did not sign any 'official' notes issued by the Central Bank of Somalia. Secondly, the use of the letter y D' as the series identifier for the 1000-shilling notes suggests that these were the notes introduced by Aideed, as it can be expected that he would use the existing identifier for this series. The only known 500- shilling note issued after the fall of Siad Barre uses the same font for the serial numbers as the 1000-shilling note with the 'D' series identifier, suggesting they were printed at the same time. However, the use of 'A' as the series identifier for the 500- shilling notes does not follow the use of "D' for the previously issued notes and therefore there is some 26 VOLUME 45, NO. 1 The face of the 20~new-shilling note depicts a man and a camel. The back of the 20-new-shilling note carries an Prepared prior to the fail of the central government, the notes were illustration of women harvesting cotton, seized by one of the warring factions. doubt as to whether these notes were printed for Aideed. The bold initiative by Aideed, of issuing his own notes, did not go unnoticed by other faction leaders in Somalia. In 1999 the Puntland administration contracted printers in Indonesia to produce Somali shil¬ lings for their own use. These notes can be recognized by the different color for the number '1000' that ap¬ pears in the centre of the notes. On these notes the number is purple, whereas for all other printings of this note it is green. In fact the differences are more varied, but this is the chief distinguishing point. On the origi¬ nal notes, there is a green, orange and purple intaglio print, but on the Indonesian-printed notes there is no intaglio printing. Instead the colors are printed by lithographic print¬ ing and areas that should have been green are printed in purple. Following the conclusion of the Somali National Peace Conference in Djibouti on 22 August 2000, a Transitional National Government was elected with Abdiqasim Salad Hassan chosen as president. As there had been a dozen different peace conferences over the previous ten years with no satisfactory outcome, this result looked promising. Relo¬ cating to Mogadishu, the govern¬ ment moved tentatively and soon the control of the government moved to businessmen who worked in concert with the politicians. One of the prod¬ ucts of this collaboration was that the Transitional National Government became involved in importing fake bank notes to help prop up the econ¬ omy. The Transitional Government imported Somali shillings from an unknown source but when it became apparent that almost anyone could have money printed and imported into the country, many business men did just that. In February 2001 Mogadishu busi¬ nessmen imported 60 billion Somali shillings into the country. In order to gain control of the economy, the Transitional Government was forced to purchase this money from the businessmen for the cost of printing and transportation. An undertaking was also elicited from the business¬ men that they would import no more money. However, later shipments of bank notes were brought into the country under the protection of the Transitional Government. 21 Around May 2000 it was reported that Mohamed Hasan Nur, the leader of the Rahaweyn Resistance Army, had visited Italy and had arranged to have 500- and 1000-sl\illing notes printed in Italy and shipped to Somalia, He evidently intended that the currency would circulate in the Bay and Bakool regions of Somali, which were under his control. 22 {it is not known whether these notes were actually printed and delivered.) The importation of fake currency was not limited to the old Somali shilling. It was only a matter of time before importations of fake new shil- mxs mctw) ii EjQESW ^smmmnA AA649B819 Many design elements of the 50-shilling note are similar to the 500- and 1000-shilling notes previously issued by the Central Bank of Somalia. A man weaving is depicted on the face of the note. The back of the 50-new-shilling note carries an illustration of a woman with children on a donkey. 27 I.B.N.S. JOURNAL lings began to appear and notes of this issue with a prefix commencing with 'X' are believed to be an 'un¬ authorized' importation. The new shillings were apparently imported by Mogadishu businessmen who probably found that there was more profit to be made in importing the higher value notes. It is not easy to follow all the trading, importing and printing of fake Somali bank notes. Certainly, the printing of notes by the British American Banknote Company for Mohammed Farah Aideed is one of the few well-documented cases of the printing of fake notes. However, many reports implicate Canada, In¬ donesia and Malaysia as sources of fake money without nominating the recipient or the printer. One report nominates the Indonesian company Ft Pura Baru Kudus, located in Java, as involved in printing US$4 mil¬ lion worth of Somali bank notes, but there is no indication whether they were the suppliers for the Puntland administration or for another au¬ thority. While most of the business¬ men importing currency are name¬ less, Mohamed Abdulle Daylaaf and Hussein Goley of Mogadishu are two businessmen who have been re¬ ported as importers of fake currency. (There is one interesting aspect to the factions circulating fake currency in Somalia. On 3 September 1998 Mohamed Said Hersi, known as 'General Morgan/ declared Jubaland independent. Jubaland is in south¬ ern Somalia, bordering on Kenya, and has as its capital Kismayo. Of all the reports concerning fake currency, none have been found in reference to the administration led by Hersi. However, his reign was short, sur¬ viving only until June 1999, and it is understood that he may not have had the finances to purchase a stock of bank notes.) In many ways it is surprising that the importation of fake Somali shillings continues to occur. When the importation of the fake notes first occurred, importers realized a huge windfall due to the seigniorage gained in the issuing of the currency. Seigniorage is the difference in the cost of producing the bank notes and the value of the note when placed into circulation. It was reported by some Somali businessmen that the cost of producing a 1000-shilling note was US$0,028, In 1991 1000 shil¬ lings was worth US$0.20 and so the seigniorage (excluding transport and storage) was US$0,172 per 1000-shil¬ ling note. The exchange rate fluctu¬ ated over the ensuing years, but towards the end of the 1990s the rate plunged dramatically to the extent that, by 2001, a 1000-shillmg note was equivalent to US$0.0416 and, if the cost of production remained steady, the seigniorage had dropped to US$0.0136. At some point in time, if inflation continues, it becomes unprofitable to print 1000-shilling notes. This is why 500-shilling notes are no longer printed. However, where 50-new-shilling notes are printed, it remains profitable for a much longer period. A significant aspect to consider in regard to the distribution of fake shillings is the social and economic effect on the market into which the currency is introduced. If fake currency floods the market, it im¬ mediately devalues the currency in circulation. In Somalia, where the poor are affected, this causes dis¬ tress amongst the majority of people who have lower incomes. The BBC News reported in June 1999 that two people were killed by market guards in Mogadishu after riots broke out following the importation of fak currency. 3 -' By this time the public of Somalia were all too aware of the economic impact of the importation of fake currency and in this instance the riot was the result of people venting their anger. The following table gives an estimate of currency acquired, or or¬ dered, by various parties from 1991 to 2001. (See Table 2). So, is it possible to identify the different notes prepared for the different administrations and the different businessmen? The answer is, not surprisingly, that it is in some cases and not in others. Firstly, of the notes prepared by various sources after 1991, it is known that there are four different 1000-shilling notes, one 500-shiliing note and one 50-new shilling note. It is suspected that there are more varieties. The only positive identifying feature for most of the notes is the serial number. The different issues appear to use differ¬ ent letters for the series number and many use a different font for the se¬ rial number. All but one of the notes issued in Somali shillings carries the signature of Ah Abdi Amalow as the Guddomiyaha. All Amalow was appointed Governor in October 1990, just prior to the fall of Si ad Barre and he did not sign any 'official' notes is¬ sued by the Central Bank of Somalia. These are the known issues and an opinion on who issued them where an estimate is possible. 500 Shillings Date: 1996 Signatories: Ali Abdi Amalow and Hassan Elmi Barkhadle Serial number: Font A. Known series: A Issuer: Unknown (possibly Aideed). 1000 Shillings Date: 1996 Signatories: Ali Abdi Amalow and Hassan Elmi Barkhadle Serial number: Font A Known series: D Issuer: Probably Mohammed Farah Aideed, as he presumably continued to use the 'D' series, the original series identifier for this issue. 1000 Shillings Date: 1996 Signatories: Ali Abdi Amalow and Hassan Elmi Barkhadle Serial number: Font B Known series: M; serial number has six numerals. Issuer: Unknown. 1000 Shillings Date: 1996 28 VOLUME 45, NO. 1 Signatories: AH Abdi Amalow and Hassan Elmi Barkhadle Serial number: Font B Known series: F, G, N, M; serial num¬ ber has seven numerals. Issuer: Unknown. 1000 Shillings Date: 1990 Signatories: Dn Omar Ahmed Omar and Flassan Elmi Barkhadle Serial number: Font C Known series: A Issuer: Issued by the Funtland admin¬ istration. Note: This variety has a different color for the denomination of '1000' that appears in the centre of the note. 50 New Shillings Date: 1991 Signatories: Dr. Omar Ahmed Omar and Hassan Elmi Barkhadle Known series: XA, XV Issuer: Mogadishu businessmen. The matter of identifying all the fake currency and who issued the notes will probably never be fully described. Without access to exam¬ ples of all notes, identifying the areas in which they circulated, and deter¬ mining the printers of each series, the story of these issues will never be documented in full. It is to be hoped that, over time, more aspects of the notes and their issue will become known to more and more people, resulting in a better explanation of their issue. Series Numbers The sequence of series letters used on Somali bank notes, from the initial issues of the National Bank of Somalia to the notes issued by the Central Bank of Somalia in 1990, is a little unusual but entirely logical. There is, however, one conundrum surrounding the sequence used. The series letters used for the notes is¬ sued on the various dates are: 1962 A 1966 B 1968 B Table 2. Currency Issued by Issuer 1991 to 2001 (in billions of Somali Shillings) 24 Issuing Party Currency Issued Ali Mahdi (including 24 billion in New Shillings) 104.0 North Mogadishu businessmen (New Shillings) 90.0 Aideed and businessmen 165.0 Transitional Government and businessmen 90.0 Funtland Administration and businessmen 86.0 Independent businessmen 60.0 Total 595.0 1971 B 1975 I 1978 T 1980 X 1981 KH 1983 D (This was used for all notes dated from 1983 to 1990) The sequence of letters used on the bank notes, of A, B, J, T, X, KH and D, is so very similar to the Somali alphabetical sequence of A, B, T, ], X, KH and D that it appears an aberration that the positions of T and J are reversed in the sequence on the bank notes. An explanation of how the actual sequence occurred is as follows. Firstly, the Latin alphabet was used for the notes issued while the bank was still under Italian influ¬ ence, This accounts for the letters "A and 'B/ with the 'A' used for the Ital¬ ian-printed notes and 'B' for the Brit¬ ish-printed notes. The letter 'J' was used in 1975 when the 'Somalized' notes were introduced. The letter *\ was probably introduced because the 'abjad/ or 'numerical/ sequence of the Arab alphabet was being invoked. (Arabic is widely spoken in Somalia.) Under this sequence, the first four letters of the Arab alphabet transliterate as A, B, J, D, However, it appears that those in authority at the new Central Bank of SomaHa de^ cided to use the Somali alphabet for future issues and, for an unknown reason, they decided to utilize the unused T' prior to continuing the sequence of the Somali alphabet. Endnotes T Somali National Bank - Report and Balance Sheet for year ending 31 December 1962, Table 77, page 196. - Data is from the Somali National Bank Report and Balance Sheet for year ending 31 December 1962, Table 67, page 151, and Table 77, page 196. I United Nations Official Records of the General Assembly, Fifth Session ~ Annexes, Volume 1 1950, New York, Agenda Hem 21 page 69, 4 The use of the denomination scrifrm tightens the link to the East African 'shilling. ' Not only are the notes of the same value, but they are issued in the same denominations, and denominated in the same unit of currency (although the Somali currency has the Italian name for 'shilling'). * According to the decree under which the notes were prepared 'Elements of Arab inspi¬ ration compose the border, the ornamentation of which is the "white line" type,' 6 In full this is Decreto Presidente della Repub- Ucca 5 Marzo 1962 Numero 87, which translates as 'Decree of the President of the Republic 5 March 1962 Number 87/ 7 In full this is tstituto Poligrajko dello Stato. Of- ficina Carte Valori-Roma. This can be translated as 'State Printing Office, Banknote Works- Rome/ 6 Dr, Abdi Aden Mohamcd was the first President of the National Bank, He completed his term of office on 28 February 1964, having completed 'three and a half years hard work' (Report and Accounts 1965). 9 The Kudu was also adopted as the emblem of the Somali Police Force. Ui Sheik Abdi Haji Abicar was appointed President of the Bank by President of the Republic's Decree No.75 of 29 February 1964, with the appointment taking effect from 1 March 1964 (Report and Accounts 1965). II Prime Minister's Decree No. 159 of 11 May 1964 appointed a new Board of Auditors with Haji Yahya Haji Abdullahi as President of the Board (Report and Accounts 1965). 12 Dr. Abdullahi Ahmed Addow was ap¬ pointed as President of the Bank by President of the Republic's Decree No. 133 of 1968. 29 l.B.N.S. JOURNAL China's Counterfeit Currency and Why It Is Rising by Masahiro Tomita, l.B.N.S. #LM37 13 In full, this is Decreta President? Consiglto Rival uzionario Supremo 20 Luglio 1971 Numero 175, which translates as 'Decree by the Presi¬ dent of the Supreme Revolutionary Council 20 July 1971 Number 175.' The title 'President of the Supreme Revolutionary Council J was used by Siad Barre until 1976. 14 Eh. Abdurahman Nur Herzi was appointed Governor of the National Bank in March 1970 (Annuo/ Report and Statement of Accounts 1970). 15 Q£R - Kenya, Uganda, Ethiopia, Somalia No.2- 1 972 1 The Economist Intelligence Unit Limited, page 23* The shield is normally colored blue and has a white, five-pointed star. The colors are the same as for the Somali flag, which is in turn based on the colors of the flag of the United Nations, under whose auspices Italian Somaliland was controlled as the Trust Terri¬ tory for so many years and ultimately gained independence, 17 In full, this is 'Xeer Madaxweynaha Golaha Sare Kacaanka llkii Diseembarl974 Lambar 134/ which translates as 'Decree by the Presi¬ dent of Supreme Revolutionary Council, 11 * December Number 134/ m In full this is, 'Xeer Madaxweynaha jam- huuriyadda Dimoqaradiga Soomaaliya 6dii Disembar 1977 Lambar 74/ which translates as: 'Decree by the President of the Democratic Republic of Somalia 6 th December 1977 Num¬ ber 74/ (This wording is used for aB future inscriptions, with only the date and number changing.) 19 Perspicacious readers will have noted that, of the decrees referred to on the bank notes to this point, four were published in December. However, in all four clauses on the bank notes, the Somali word for 'Decem¬ ber' is spelt differently. For the 1974 clause it is 'Diseembar,' for the 1977 clause it is 'Disembar/ for 1981 it is 'Diisambar' and for 1982 it is 'Disember.' The problem in spelling December is undoubtedly linked to the late adoption of the Latin script for Somali. 20 The other instances occur in the fifth issue of the National Bank and the first issue of the Central Bank. 31 www.somaIiawatch.org/archjve- febOl/[) K]215101.htm u www.banadir.com M Monetary and Exchange Rate Policies 1960- 2001 . The Experience of Somalia, page 45. 24 Monetary and Exchange Rate Policies 1960- 2001 f The Experience of Somalia, page 41, 25 This explanation of the sequence of letters is surmised and not definitive. To be continued in l.B.N.S. Journal Volume 45, No. 2 The production, circulation and sei¬ zure of counterfeit currency in China has increased sharply in recent years. The amount of seized counterfeit currency in China totaled 1.16 billion yuan (US$140 million) in 2004, which was far above the amount of coun¬ terfeit US dollars seized in the world. The special characteristic of China's currency counterfeiting phenomenon is that it is dispersed. Counterfeits are produced at several specific areas in the country and several counter¬ feiting groups produce large vol¬ umes of counterfeits for distribution all over China. On August 31, 2005, the People's Bank of China released a new ver¬ sion of currency into circulation to thwart the rising trend of counterfeit¬ ing. Some sophisticated counterfeit deterrent features, like an optically variable device, a magnetic security thread with a window, have been introduced in the new notes, espe¬ cially in 50 and 100 yuan notes. The designs remain unchanged except some minor alterations. International comparison The People's Bank of China an¬ nounced that the amount of seized counterfeits totaled 1160 million yuan in 2004, which was a 76.8 percent rise over 2003, Seizures and confiscations by police totaled 550 million yuan (US$ 66,51 million ), which was a 139 percent rise over 2003, and counterfeits discovered by banks totaled 610 million yuan (US$73.76 million), which was a 45 percent rise over 2003. According to the Bank, the amount of cash in circulation last year was 2 trillion yuan (US$241,8 billion), therefore the counterfeits ac¬ counted for 0.05 percent of the total currency. According to data from the US Secret Service, the amount of coun¬ terfeit dollar notes seized globally in 2003 totaled approximately US$ 63 million, while the amount of cash US dollars in circulation in the world was estimated at US$700 billion. Consequently counterfeit US cur¬ rency amounted to 0.009 percent of the total. Although the data under review are from slightly different time frames, it is clear that the vol¬ ume of counterfeit Chinese yuan was 2.2 times more than counterfeit US dollars and that the Chinese yuan's percentage of counterfeits was 5,6 times more than that of the US dol¬ lar, This is a surprising fact! The scale of counterfeiters activi¬ ties in Japan is much smaller. Ac¬ cording to the National Police Agen¬ cy of Japan, the amount of counter¬ feit banknotes and coins seized last year in Japan totaled 109.35 million yen (US$ 985 thousand), which was just equivalent to 1.29 percent of that of China and 1.56 percent of that of US. The average amount of cash in circulation in Japan last year was 76.6817 trillion yen (equivalent to 708.9 billion), so counterfeits ac¬ counted for only 0.00014 percent of the total. The scale of counterfeiters' activi¬ ties with regard to the euro is also smaller than that of Chinese yuan. The total amount of counterfeit euro notes seized in 2004 totaled 54.629 (equivalent US$ 67.827 million). The amount of euro cash in circulation in 2004 was 452.7 billion (equivalent to US$ 562.1 billion), therefore the counterfeits accounted for 0.012 per¬ cent of the total. The sharp increase in the produc¬ tion and circulation of counterfeit currency in China has long been realized by many people in their 30 r VOLUME 45, NO. 1 daily lives. According to research conducted recently in Guangzhou, China, more than 50% of the re¬ sponders indicated that they had received counterfeit money. Most major retail shops throughout China have installed counterfeit-note detec¬ tors, and cashiers routinely check 100 yuan bills as soon as they are received. Characteristics of China's currency counterfeiting Many large scale cases of cur¬ rency counterfeiting have occurred in China, In 2004, police prosecuted 28 cases in which the seized amount was over one million yuan (US$ 121,000) each. Nineteen currency counterfeiting points throughout the country were discovered by police in 2004, which was a 157 percent rise over the previous year. The amount of seized counterfeits at the largest was 6455 million yuan (US$ 7.81 million). Most currency counterfeiting cases are concentrated in Guangdong and Henang Provinces. Counterfeit currency producing sights are con¬ centrated in the Chaozhou and Swa- tow regions of Guangdong Province, while trafficking and sales points are concentrated in Henan Province, Among the above-mentioned twenty eight cases where seizure totaled over one million yuan each, nineteen cases were in Guangdong Province, which amounts to 68 percent of ail. in March 2004, police reportedly captured a truck in Henan Province based on a secret report and seized counterfeit bills of 11 million yuan (US$ 1.33 million) at once and ar¬ rested four criminals. The counterfeit currency pro¬ duced and sold in China is not only Chinese yuan. The amount of counterfeit foreign currencies seized in 2003 (mostly US dollar notes), totaled 5.03 million dollars. Police re¬ portedly searched a hotel in Fuchou in February 2004, and seized coun¬ terfeit dollar bills of more than 10 million dollars. Moreover, seizures by police were not just paper money Two hundred and sixty thousand one-yuan coins were seized at a counterfeiter's workshop in Hunan Province last year. China's anti-counterfeit currency system It is remarkable in China that, apart from the police and the cen¬ tral bank authorities, a number of departments and organizations of the Central Committee of the Com¬ munist Party, the central govern¬ ment and the national congress also participate in the enforcement of the anti-counterfeit currency policy In 1994, the Chinese government drastically strengthened measures against counterfeit currency 'The Anti-counterfeit Currency Con¬ ference of the State Council' was established that year in order to wipe out and prevent counterfeit currency The conference then comprised nineteen departments and organiza¬ tions of the Central Committee of the Communist Party and the central government The background to the establishment of the conference was a sharp increase in currency counter¬ feiting. As stated below, 1994 was the year in which an enormous amount of counterfeit yuan notes were seized — these notes were mostly smuggled from Taiwan and Hong Kong due to the development of the Reform and Open-door Policy as well as the expansion of economic relations with Taiwan. In 2003, membership in the Con¬ ference increased and it is currently composed of twenty eight depart¬ ments and organizations of the party, government and the national council Tile Conference engages in a nation-wide campaign against counterfeit currency in May or June every year at the request of the State Council Reportedly the campaign priority is being moved to rural and boundary areas, which suggests that currency counterfeiting crimes have spread to agricultural and border 31 I.B.N.S. JOURNAL areas. The Conference designated 2005 as 'Anti-Counterfeit Currency Year' and has revealed a course of action to build a strong defense line against emerging counterfeit currency This year's anti-counterfeit task empha¬ sizes identifying the areas in which counterfeit currency crimes are concentrated and to concentrating power to crack down on such areas. According to the People's Bank of China, the Bank consulted with the Ministry of Public Security over the situation of spreading counterfeits and decided to take special anti¬ counterfeit action in Guangdong, Henan and Zhejiang Provinces, HISTORICAL BACKGROUND OF CURRENCY COUNTERFEITING CRIMES IN CHINA Reform and Open-door policy as pivotal points in increasing counterfeits It is said that the history of cur¬ rency counterfeiting is as long as that of currency itself. The history of currency counterfeiting traces back to 'huizi', the first paper money of the world issued by a government, which appeared in the Song Dynasty during the twelfth century The People's Bank of China was established in 1948 and began to release the national currency Renminbi, in circulation, one year before the foundation of the People's Republic of China, In the process of establishing a socialistic planned economic system in the 1950's, major manufacturing equipments and printing technology, including currency printing plants, were nationalized. However, sup¬ plies of most consumer commodities were insufficient and ration coupons were essential (besides cash) to ac¬ cess such goods. Moreover, at the time settlement of accounts in most transactions was done by regional coupons in most communities. Consequently in the 1950s people had little motivation and few means to counterfeit currency. The third series of Renminbi bank notes, with less sophisticated printing technol¬ ogy, remained in circulation for twenty eight years, from 1962 to 2000 and they were popular among the people. The facts verify that there were no pre-conditions to make mass production of counterfeit currency possible and, therefore, there was no threat of counterfeit currency crime that time. However, the Reform and Open- door Policy begun in 1979 complete¬ ly changed the situation. Along with the expansion of China's external economic relations, including those with Hong Kong and Taiwan, the largest cases of counterfeit Chinese yuan production in history were revealed in China and Hong Kong by media reports in 1982. Coun¬ terfeit Chinese yuan notes of over 1,25 million yuan (US$ 661,000), all in ten yuan notes, were reportedly seized. The total amount of coun¬ terfeits seized in that year was not announced and the full details are not known. In 1987, the People's Bank of Chi¬ na released the fourth series of bank notes into circulation, in keeping with the new era of the Reform and Open-door. The new series of bank notes were remarkable, as they were in the new denominations of fifty and one hundred yuan, and portraits of Mao Tsetung along with two other leaders appeared on the face of the hundred yuan note. However, more importantly, some new technical features were introduced in the new notes, with enhanced anti-counter¬ feiting properties, like watermarks and fine engravings. However, it became dear later that the new series of bank notes could not display their ability to prevent counterfeiting. According to the incomplete statistics made public by the authorities, counterfeit notes of one million yuan {US$ 269,000) were seized in 1989 and the amount of seizure increased ten times in 1990 to 13.68 million yuan (US$ million). 1994, the year in which the number of seized counterfeit yuan exceeded US dollars To cope with the increasing coun¬ terfeit currency, the People's Bank of China renewed the 50 and 100 yuan notes in 1992, which were main tar¬ get of counterfeiting. The design of those notes remain unchanged, but a security thread was newly embed¬ ded in the paper. Nevertheless, the amount of seized counterfeit currency con¬ tinued to increase and the areas involved also expanded. The For¬ eign Exchange Certificate, the de facto convertible yuan currency, was withdrawn from circulation and 32 VOLUME 45, NO. 1 the Renminbi yuan became the sole currency in China at the beginning of 1994. Consequently Renminbi yuan became more important and popular than ever, which resulted in further increase in counterfeits. Analysis of media reports indicate that as the re¬ sult of a sharp increase in the seizure of counterfeits in China, the number of seized counterfeit Renminbi notes was supposed to have exceeded that of US dollar in 1994. According to media reports, two large-scale Chinese yuan counterfeit¬ ing cases were discovered in Taiwan in 1994, and over 1.03 billion yuan {US$119.51 million) of counterfeit yuan notes, including incomplete ones, were seized. According to the incomplete statistics made public by Chinese authorities, the amount of counterfeit currency seized in 1994 in mainland China totaled 130 million yuan (US$15.08 million). The total amount of counterfeit currency from only the two cases mentioned above was 1.16 billion yuan (US$ 13459 million). The number of the counterfeit notes seized was supposed to be at least 1L6 million, assuming that all those seized were one hundred yuan notes. The data from the US Secret Service indicates that the total amount of counterfeit dollar notes seized in the world in 1994 was 287 million dollars, and that most were one hundred dollar notes. Although the amount of counterfeit yuan notes seized was far below that of dollar notes, it was supposed to be dear that the number of yuan notes seized in the year had exceeded that of the dollar notes seized globally. The People's Bank of China released the fifth series of bank notes into circulation in 1999 mark¬ ing the fiftieth anniversary of the foundation of the People's Republic of China. A significant feature was Mao Tsetung's portrait, which was printed on all the denominations of notes. However the issuance of the new series was reportedly aimed at introducing advanced technology to prevent counterfeiting and making the bank notes adaptable to cash processing machines. Twenty dif¬ ferent types of technical features to prevent counterfeits were introduced in the new series, while just over ten features were in the former series. It is difficult to say that even the fifth series of banknotes with ad¬ vanced technical features are able to deter counterfeiting. According to the data disclosed by the People's Bank, the total amount of counter¬ feits seized from 2000 to 2002 was 2.426 billion yuan (US$293 million dollars), the annual average of which was 800 million yuan (US$ 293 mil¬ lion). Although the amount seized fell to 656 million yuan ($79.32 million) in 2003, it rose again to 1.16 billion yuan (US$ 140 million dol¬ lars) in 2004 as mentioned above. In the first quarter of 2005, January to March, the amount of seizure totaled to 210 million yuan (US$ 25.39 mil¬ lion dollars) and the individual cases with the amount of seizure over one million yuan (US$ 120 million dol¬ lars ) numbered eight. China's counterfeit currency in the future Circulation of counterfeit currency has been a hot topic of people's con¬ versation and media coverage, and is worrisome. If currency counterfeit¬ ing crimes become critical again even after the new version come into wide use, it is feared that the national economy might suffer serious harm. The effectiveness of the renewal of the version and the anti-currency counterfeit drive by the authorities are matters of great concern. 33 l.B.N.S. JOURNAL Occupied Jersey and Guernsey by Steve Feller, l.B.N.S. #4195 A military parade (St. Peter Port). German troops march in St Peter Port, Guernsey. The British Channel Islands are excel¬ lent places to visit for the collector In¬ trigued with how history connects to bank notes. For years, l have wanted to visit these islands and recently I spent three days in the two Baili¬ wicks of jersey and Guernsey. For me the historical connection was the fact that German forces occupied these two bits of British territory during World War II. This occupation was not gentle and the islanders endured almost five years of it until their liberation occurred on VE day plus one: 9 May 1945. At least three issues of currency circulated side-by-side on the islands. I wanted to investigate these issues on the islands. Thus in early February of this year my wife and I made the journey. The occupation began at the very end of June 1940 after Britain real¬ ized that the islands could not be defended following the fall of France. Even though they were left open they did suffer some bombing. Geographi¬ cally, the islands are close to France {even as close as nine miles from Normandy). Thus, the Germans ar¬ rived without resistance. We began our numismatic ad¬ venture on Jersey the largest of the islands. The flight from Coventry, England (where I am living tempo¬ rarily) took but one hour. After an enjoyable '"Asian fusion" meal, my wife and 1 rested in our three-star ho¬ tel just off the city center of St. Helier, the capita] of Jersey, Next morning we walked to liberation plaza oppo¬ site the German command center, the four-star hotel Pont d'Or. Along the way, we walked by one of Jersey's occupation museums and noted that it would open at 10:00 A.M. Tourist information yielded the location of St. Helier's coin shop and after some shopping for pearls for my better half I easily found the shop — a won¬ derful eclectic place that mainly dealt with coins but had a considerable amount of bank notes and associated artifacts as well. After I mentioned my interests, the proprietor showed me a good selection of the Jersey oc¬ cupation notes. He then said that he thought he might have a complete set including the rare ten shilling and one pound notes and if I could stop back in a few hours he would look at home during lunch. Naturally I agreed to return. We next went to the occupation museum which, while interesting, did not care for it artifacts very well. Face and back of current one pound note from Jersey, 34 I.B.N.S. JOURNAL Face and back of current one pound note from Guernsey. Pre-WWII Note brought back to Jersey Two shilling note issued in occupied Jersey, by camp inmate at Wurzack, Germany. At one point original Canadian relief supply packages were being used to prop up a display! However, the museum did have a rather large collection of monetary issues includ¬ ing many ration books not previous¬ ly seen by me. Many digital photos later we left the museum and had J NN” 3559 f -W) ^ ' • W of • . . .-.v _ V ONE POUND VM-tCt A '1 <TASW«G« *i£ TUB wfisf of a nice lunch at a local Italian place. While walking after lunch I hailed a cab and asked the driver to take us around the island for an hour or so to see sites associated with the One pound note issued in occupied Jersey. 35 l.B.N.S. JOURNAL Six pence note from occupied Jersey. Note that when viewed from the side, the six pence can be seen to say "VE" — an allusion to victory in Europe. One shilling note from occupied Jersey. The back of the note is an allusion to the war-time saying *Toose lips lose wars," German occupation. The driver, a woman from England, knew the island well — it is but 45 square miles and we went to many bunkers and gun emplacements scattered among sites of splendid beauty as well. It really doesn't take much more than an hour to go all the way around. The islands are said to have been among the heaviest fortified places in Nazi-occupied Europe with many miles of underground tunnels as well. Dozens of pictures later the cab dropped my wife off for a well-earned nap at our hotel and the taxi continued on with me back to the coin shop. Of course, this is the optimal way to buy bank notes while married and soon the Feller collection had a complete set of the jersey occupation notes. Also purchased were common German occupation notes because they were brought into the shop at the same time as Jersey occupation notes by the locals — in other words, they were the actual German notes used on Jersey — however; the notes themselves cannot prove this. Still I paid just a few pounds for these. As a parting purchase, I obtained an original Jersey newspaper from the beginning of the occupation giving the rules for the civilian population — this was well worth an additional five pounds. Note that there were occupation marks (reichskreditkassen) as well as military marks (Verre- chnungsschein) in circulation. This was the usual pattern throughout occupied Europe. The exchange rate varied during the war and was typically between 9 and 10 marks to the pound. Small exchange rate booklets were produced. The local occupation currency was produced with the permission of the Germans and was denominated in British pence, shillings, and pounds. In the case of Guernsey an equivalent amount of British notes were with¬ drawn by order of the Germans and they were thus stamped that way so the Germans couldn't use them or exchange them. The next morning we took a flight to Guernsey—we were in the air for less than 15 minutes! After checking in to Moore's Central Hotel, also three stars, we walked around the atmospheric capital of St. Peter Port. 1 also used an ATM machine there to get some Guernsey money. Being a Sunday our options were limited but as luck would have it the main occupation mu¬ seum was open. This necessitated a cab ride of about 10 pounds—paid for in Guernsey currency for fun (they take British, Guernsey, or jersey equally). This museum was larger and better presented than its 36 VOLUME 45, NO. 1 JfonfJleidhismarfe aufiSrund > JD&rorrinurt^ lib^f & eich skin; cl vtaaQfch uptuffrxDaltung dst Lichahreditkafien Face and back of S mark occupation marks used in occupied Guernsey and Jersey, The Fellers in front of a German gun on Jersey, The guns litter the island. Six pence Guernsey occupation note from WWII. GUERNSEY counterpart on Jersey was. Again I saw many ration books and many examples of both Guernsey's and Jersey's occupation currency They had all sorts of artifacts in various states of disrepair and age. As 1 was about to leave I bought a Guernsey occupation stamp for 95 pence, I also bought some books that were first hand accounts of the occupation. The staff person was knowledgeable about the period. I mentioned that I collect bank notes and write about them at which point he became ani¬ mated and told me he would check the archives of the museum for du¬ plicates and he even indicated they might sell some! While my bride had tea, he rummaged. How British is it to have a tearoom in an occupation Guernsey stamp honoring the birth of Thomas de La Rue. museum? After a long while he said he needed more time and we ar¬ ranged for him to come to our hotel at 8:30 RM. As we were looking for the bus stop to go back to St, Peter Port we met his wife, an exuberant lay reader at a local church. After a brief chat we discovered that she had spent a summer in Iowa near Cedar Rapids! The bus brought us back to the capital and we had a nice lunch. Walking back to the hotel I did a double take when I saw the pub by the hotel was named the Thomas de la Rue! More snaps on the camera and an inquiry led to the story that this was the former home of the one and only founder of the great print¬ ing firm. When we bought Guernsey postage the stamps were de la Rue commeratives. A nap and a nice seafood dinner brought us near to the time of our meeting with the mu- 37 l.B.N.S. JOURNAL | Pence Pfennigs i.. 2 1 .4 11. 6 2 .8 2*.10 3.12 31.14 4.16 41.18 5 .20 51.22 b .23 61.25 7 .27 71.29 8 .31 81.33 9 .35 91.37 10 .39 101. 41 11 .43 11}.45 Shillings RM Pf 1 /-.0 47 2/-.0 94 3/-.1 40 4/-.1 87 5/-.2 34 6/-.2 81 7/-.3 28 8/-.3 74 9 - t .4 21 10 -.4 68 11/-.5 15 12/-.5 62 13/-.6 08 14/-.6 55 15/-.7 02 16/-.7 49 17/-.7 96 18/-...8 42 19/-.8 89 20 /-. r £ S D RM Pf £ H D RM Pf 1 10 U. rr. i4 04 6 0 O.T. .30 10 2 0 0. ...18 72 6 10 0... 60 84 2 10 0.. ...23 40 7 00... .65 52 3 0 0. ...28 08 7 10 0... .70 20 3 10 0. ...32 76 8 00... .74 88 4 0 0. ...37 44 8 10 0... .79 56 4 10 0 .42 12 9 00... 84 24 5 0 0., ...46 80 9 10 0... .88 92 5 10 0 ...51 48 1 to 00... 93 60 PFENNIGS. 10 60 1 31 20 . 70. 30 . .....7{d 80. .18} 40 90. 1 11 50 .... 1;0j 100 2 1) RIC1GHMARKS. £ ft. d. 1. . . 30... 3 4 1 2. . . . 4 3J 40 ... 4 5 5) 3... 50 ... 5 6 10 8 61 10 8 6 . 12,10 7. .14 11) 8. .17/1 9. .19 3 10- £1-1-41 20 _£ 2 - 2-9 60 70 80 90 100 200 300 400., 500., .. 6 .. 7 .. 8 .. 9 ..10 ..21 ..32 ..42 . .53 8 2 ) 9 7 10 II 12 3J 13 8 7 4 1 0 14 8 8 4 9£ f HANDY POCKET GERMAN EXCHANGE CARD. @ 9.36 RM. to the £1 (To the nearest halfpenny). fIVR OAKS PRESS. A.St.J. 30,43 Pound/mark exchange values from WWII for use in Jersey. seum chap and his wife. Promptly at 8:30 they arrived and he suddenly remembered that he had left the cru¬ cial envelope in the car. After a few minutes he showed me the museum duplicates: Guernsey and Jersey occupation notes, but alas, he was very knowledgeable about prices. Still we made a deal on a lovely blue paper six pence Guernsey note from 1942.1 should mention the Guern¬ sey occupation notes are rarer than Jersey ones. Then he showed me an interment camp note! It was from a German camp for Jerseymen sent to the mainland. I had never seen it before and it had a WW1 look but still since he told me he had obtained it from an inmate and had seen but a few 1 asked him to scan it for me. He then asked if 1 had seen the other one on exhibit from yet another camp. No, 1 had not! Again, a request for help to him went forth. I am eagerly awaiting his informa¬ tion. 1 also learned that the occupa¬ tion money from both islands could be used on both during the war. Next morning we did some shopping and at the post office I bought a 2005 Guernsey 5-pound coin that celebrated the 60 th anni¬ versary of the liberation. Then we were off to the Guernsey museum. To find it we stopped first at the tourist information building on the quay. There the head of the exchange bureau turned out to be a big time collector—I saw a complete set of Guernsey occupa¬ tion notes well framed and upon inquiring he opened his safe he showed me quite a few more—in unc but priced 300 pounds and up. He mentioned his friend who had "more than 40000 pounds worth of the occupation notes." We walked up to the Guernsey Museum—lovely and well done with much bank note material. But first I digress. The museum is on a bluff overlooking the harbor and the view includes two of the other The islands of Herm (left) and Sark (right), parts of the Baliwick of Guernsey. 38 I islands in the Guernsey Bailiwick: Henri and Sark. How I longed to go and investigate but I couldn't arrange it because of time and the fact that this was the off-season. Sark doesn't allow motorized vehicles and they sounded super but ...I did bring the book "War on Sark" with me, which is a first hand account of the occupation period with numer¬ ous mentions of the occupation and German currency as well. Back to the story. The museum had a good account of the occupation and the displays included a complete unc set of the Guernsey occupation notes and several other notes. The sig¬ nage was good too. They also had a marvelous set of exhibits on the evolution of the design and printing of recent Guernsey paper money This included original plates, proofs, artwork, etc. The museum allowed me to photograph all of this. Afterwards I arranged a cab to take us around the island again for a bit more than an hour. This was very well done and we ended up by de¬ sign at the Guernsey airport for our brief flight back to Jersey and then to Coventry. By this time I had 150 pictures from our trip. We arrived in Coventry around 9 PM. For me it was thrilling to be there to see it for myself and to learn new information. 1 also enjoyed calling Fred Schwan just to rub it in that I was there. VOLUME 45, NO. 1 Rachel Notes Sir Henry Parkes: Father of Federation by Rachel Feller, l.B.N.S. #8444 In graduate school, we've now reached a scary milestone: it's time to start working on dissertations. The theory is that, if we start early we won't have to be as anx¬ ious by the time the things are due. Unfortunately, particularly with a group of psychologists-in-training, it's not working. Everyone is get¬ ting nervous. Well, everyone but me. Going against the grain, as 1 some¬ times do, I am looking forward to my dissertation. Why? Because the dissertation 1 proposed is to study the positive psychological effects of collecting. In honor of proposing my dis¬ sertation (yesterday as of beginning this column) 1 have chosen to write about an Australian hero who is not exactly from Australia: Sir Henry Parkes. Parkes, featured on the Australian $5 notes, was himself a collector. Before delving into their stories, Fd like to mention that I would appreciate hearing more about collectors on banknotes. I like the idea of collecting collectors—a nice challenge while I work on my dis¬ sertation. I am aware that Freud was featured on the Austrian 50-schil- ling note from 1986 until the Euro arrived in 2002. Freud collected statues from places he had visited in the world. Much like myself, he was a sentimental collector. Anoth¬ er featured collector is Queen Eliza¬ beth II. She collects jewels. It's hard to imagine that she would have too much trouble getting hold of them, as she has money and considerable political sway but she is a collector nonetheless. Sir Henry Parkes, known as the "Father of Federation," was actually born in England on May 27,1815. Although he was British, Parkes considered himself Austra¬ lian, and is known for his political contributions in Australia. Parkes claimed that he was Australian, and that "Nativity is a mere ac¬ cident." Throughout his life, Parkes faced economic strains. Coming from what he called a "very limited and imperfect" education, Parkes made the most with his natural abilities and willingness to work hard. His first jobs were as a gardner and "odd-job man," shortly after he, his parents, and his six siblings moved to Birmingham. His next jobs were Australia $5 note with Sir Henry Parkes. 39 LB.N.S. JOURNAL in road labor, a brick pit, and a rope-walk. Eventually, he became an apprentice bone and ivory turner. During his life, Parkes married three times and was widowed twice. His first wife was named Clarinda Varney, and the two were married July 11,1836, when Clarinda was 23 and Parkes was 2L The next year, Parkes tried to begin his own busi¬ ness, but met with failure, so the young couple moved to London to find better work. At the time, they survived on the money Parkes made by selling his tools. Already very interested in politics, Parkes was struck with the contrast between how hard he was willing to work and how little success he had expe¬ rienced, Eventually, they decided to seek their fortunes elsewhere. Before leaving England, Parkes published a poem entitled "'A Poet's Farewell" in Hetherington's Charter. In it, he said that it was the injustice in England that meant men like he were "com¬ pelled to seek the means of existence in a foreign wilderness." The two boarded a ship for that wilderness. New South Wales, in 1839. At first, Parkes and his wife lived in the bush, but again they met with difficulties. Thus, the two moved to Sydney, Here, Parkes met William Duncan, a journalist and publisher, who proved to be a valuable friend. Duncan supported Parkes' inter¬ est in politics, as well as his poetry. Duncan began publishing Parkes' poems in his newspaper. Weekly Register of Politics, Facts , and General Literature. Parkes joined socially with the literary men. He also followed their tradition of working for Customs, a job which meant financial security while working short hours, so that artists could continue to pursue their creative ambitions. Thus, from 1840 to 1845, Parkes became ac¬ complished in two areas. First, he learned a considerable amount about the market economy in Australia, as he had spent five years aboard import/export ships. This exposed him to the intricacies of tariff re¬ gimes and border controls. Second, he was able to spend time writing and learning about the politics of Australia. These two together led to his passion toward turning Australia into a federation. In 1845, Parkes was suspended by the Customs House. Earlier, he had printed an anonymous letter in Duncan's newspaper, in which he made accusations against corruption in the Customs House. He argued that this was the only way to get the right people to pay attention to the problems, but this reasoning was not enough to save his job. However, Parkes said goodbye to the Cus¬ toms House with feelings of hope, especially because he had gained so much poll tica 1 a mb i t ion. In 1848, Parkes was an active and vital participant in a campaign for universal male suffrage. He also worked to prevent transportation of convicts bum England to New South Wales. By 1850, he had established a Opening of the First Parliament of the Commonwealth of Austrialia (1901 a painting by Tom Roberts. newspaper. The Empire , to promote democracy. He continued to push for many different reforms. Parkes' first political position was a seat in the Legislative Council, which he won by election in 1854. He was also part of the Legislative As¬ sembly, which served as Australia's first Parliament under self govern¬ ment. This was the start of a long politi¬ cal career. Parkes became the Pre¬ mier of New South Wales. By 1873, Australians knew he was going to become part of their legacy and his¬ tory. The town Bushman's renamed themselves Parkes as an honor to Parkes' continued support of impor¬ tant issues. Parkes also continued to be con¬ troversial. In particular, he aroused considerable debate over his Public Instruction Act in 1880. In 1887, he tried to have New South Wales renamed Australia, but was unsuc¬ cessful. The following year, Parkes opened Centennial Park, which was to be, according to Parkes, "emphati¬ cally the people's park." Although he was unable to fulfill all of his dreams for the park—the inclusion of an art gallery and mausoleum, for instance—he was able to establish a park that continues to be used and beloved by Australians today. The park is also shown on the $5 bank note. On the right-hand side is the Federation Pavillion, which was a pivotal place during Australia's 1901 celebration in which they declared that they were the Commonwealth of Australia, The final chapter in Parkes' political career began in 1889, when Parkes began to push for Federa¬ tion. His slogan was "One People, One Destiny," and he expressed the importance of having an indepen¬ dent federal parliament and federal government. This first speech was delivered at Ten ter field School of Arts, and was known as the Tenter- field Oration. The Tenter field School of Arts building is featured on the front of the $5. Parts of the Tenter- 40 VOLUME 45, NO. 1 Henry Parkes, esq., carried in triumph to the "empire" office (1854). field Oration also appear, in micro- printing, as a security feature on the note. In March, 1891, the first meeting of the National Australasian Conven¬ tion took place. 45 delegates were present, and they voted to appoint Parkes as president. Thus, under Parkes, the delegates drafted what would become a new constitution. Unfortunately, Parkes did not live to see his plans to fruition. He passed away in April, 1896, a year before the Australasian Federation Convention. Although Parkes wasn't able to see his dream of a federally governed Australia, it is in his honor that the Painting of Henry Parkes by JL H. Chirmer (National Library of Australia), Henry Parkes (standing with w T hite beard) with some founding fathers of Australia. Federal Parliament meets in a sub¬ urb in Canberra named Parkes. Also featured on the note is a painting of Australia's first Parlia¬ ment, a 1903 Tom Roberts painting entitlted Opening of the First Parlia¬ ment of the Commonwealth of Australia by HRH The Duke of Cornwall and York (Later King George V), May 9, 1901. Tom Roberts also created the painting that was the basis for the main image on the note—a portrait of Parkes himself, with his trade¬ mark beard and intensely ambitious eyes. The first Commonwealth Par¬ liament of Australia took place in the Royal Exhibition Building in Melbourne, which is also pictured on the $5 note. This was the site of Parliament meetings until the Parlia¬ ment House was opened in 1927 in Canberra. A.W. Martin wrote a brief biog¬ raphy of Parkes in the Australian Dictionary of Biography. In it, he dis¬ cussed Parkes' daunting presence, beard, and his interest in collecting: "Bearded after 1861, he was always physically impressive, though imposing rather than handsome. For studied oratory" he had few peers among colonial contempo¬ raries, despite his uncertainty about aspirates and a tendency towards affectation. He collected autographs, books and artistic bric-a brae, and his friends were always intrigued by his choice menagerie of native wild animals. Though temperate, he enjoyed champagne and had, as Wil¬ liam Walker had it, great faith in the virtue of gastronomy as a political force." 41 Classified Ads Bank Notes for Sale WEST AFRICAN NOTES (emphasis on GHANA PI TO P28). E.K. ABOAGYE, P.O. Box AH 384, Achimota, Accra, GHANA, e- mail: appia42@yahoo.com My World Paper Money list contains a variety of appropriately graded and priced notes. I also issue a wholesale list, available upon request. Richard AINSWORTH, Box 42279, Las Vegas, NV 89116 U.S.A. NOVA ONLINE, INC. WORLD AND U.S. ACTIVELY BUYING COLLECTIONS ON-LINE RETAIL AND WHOLESALE LISTINGS (sorry, no printed versions) www.novacoins.com info@novacoins.com P.O. Box 231028 Tigard, OR 97281 U.S.A. (503) 590-2441, ext. 8 LARGE COMPETITIVELY PRICED SELEC¬ TION of NEW releases and older notes. Brit¬ ish Commonwealth, African, Mexican, Latin American, Russian, Asian, etc. Frequent lists. Michael KNABE, PO Box 3648, Clovis, CA 93613 USA. Books For Sale Democratic Republic of Vietnam Coins and Currency. US $35 payable to Howard A. DANIEL III. The Southeast Asian Treasury, PO Box 989, Deltaville, VA 23043-0989 USA. E-mail: howard@seasiantreasury.com For Sale “WORLD MONEY 7 ' — Interesting hour docudrama synched to music. DVD~$11.11 postpaid global; VHS- NTSC, -PAL, -SECAM~$15, Purvis EVANS, Box 1111, Jacksonville FL 32201 USA (IBNS 3339). Check, m.o., PayPal: purvisllll@aol.com. www.art-one.us chttp: / / w ww.art-one.us> Send Classified Ads to: Joseph E. Boling P.O.Box 4718 Federal Way WA 98063-4718 Telephone: (253) 839-5199 FAX (253) 839- 5185 E-Mail: joeboIing@aol.com ad deadlines: 1st of January, April, July, and October. Classified ad rate is US 50e or £.2 7 per word—30 word minimum ($15.00 or £8.00), payment in advance. 42 PAPER MONEY Did you know? 1) London Coins holds four dedicated paper money auctions each year. 2) London Coins annual Irish sale in Dublin includes paper money. 3) Paper money listed in London Coins sales are graded and attributed by dedicated paper money experts. JAMAICA /E ,INGS MHBaaMaM SMTnaim SLEWS' .Ei ^ A * j niffi Bill If you have paper money to sell we have the market If you wish to buy we get the material Contact us now for a complimentary catalogue or send in this ad for a years free subscription If you are selling ask for our vendors pack >^j?o Oi^ BNTA London Coins * 4-6 Upper Street South New Ash Green * Longfield * Kent • DAB 8JJ * UK Tel: 01474 871464 Email: bids@londoncoinsxo.uk Website: www.londoncoins.co.uk 43 The most comprehensive and up-to- date price guide to England, Scotland, Isle of Man, Channel Islands & Ireland banknotes-all illustrated in full colour j $ Order on-line: www.tokenpublishing.com YES! I would like order the BANKNOTE YEARBOOK 4TH EDITION For £14.95 + £3.00 p&p Your Personal Details Your Payment Details .*.. We accept: Visa • Mastercard * JCB • Switch ....... Card noq ....... Expiry Issue no - (s*®*)_ Telephone...... By cheque: Make payable to Token Publishing Ltd, Signature....... Total j nc j p&p_ Please send to: Token Publishing Ltd., Orchard House, Duchy Road, Heath park, Honlton, Devon EX14 1YD www.tokenpublishing.com 44 NOT LFGA( Tt NUtK $ NB028494 •>r!{n'i4VWu ’ ’ ’S| % ; ' 0 lew t 4 *r j* «4c> fc'rA 1 Mil ft.' CcpruMf^p OWE MILLION EURO Not available to the general public. A rare opportunity for banknote collectors while supplies last! N B 0284 94 Finished full size Press Sheets of One Million Euro Commemorative Notes Sheet size is 26" x 24.75" / 28 notes per sheet. These are original press run sheets complete with color bars and invisible inks, printed front and back. The sheets were sent through an 8 color Heidelberg press 3 times for offset printing; a De la Rue Giori press once for intaglio printing; and a numbering press once. Sheets are consecutively numbered. These are true collectors items, and once they are sold out, they will be gone forever just like the Million Euro single notes. Unique features include: Limited Edition, Consecutive numbering-no two notes the same, Excellent art piece when framed, Special banknote paper with security thread, Contains over 30 security features (some of which have never been used in circulation). $49.95 per sheet FREE SHIPPING Quantity discounts for IBNS member-resellers will be considered on a one-on-one basis, depending on quantity ordered. SEND ORDER WITH PAYMENT IN FULL TO: '-THE rBA*A'K'AOTE3ToyiP.4*AT; X c/o APC Distribution Center 430 Feheley Drive King of Prussia, PA 19406 Inquiries: sales@banknotables.com 45 Colin Narbeth & Son Ltd. 20 CECIL COURT, LONDON WC2N 4HE TEL: 0207 379 6975 FAX: 01727 811244 e-mail: colin.narbeth@btinternet.com Web. www.colin-narbeth.com BUYING & SELLING OLD PAPER MONEY FOR LARGE STOCKLIST SEE WEB SITE BUYING AND SELLING WORLD PAPER MONEY FREE DISCOUNT SALES LISTS PERIODIC AUCTIONS FAST SERVICE WORLD WIDE NOTAPHILIC SERVICE P.0. BOX 5427 • I VALLEJO. CA 94591 U.S.A. PHONE: (707) 644-3146 FAX: (707) 643-3806 Cg ag e ' S C° inS an<f Cun *«ty. c WHOLESALE WORLD BANKNOTES Large Inventory Wholesale Prices Free Inventory Lists New Additions Monthly Page’s Coins and Currency 210 Bardvvell St Belchertown, MA 01007 USA EMAIL: Admin@pagescoinsandcurrency.com www.pagescoinsandcurrency.com IAN GRADON WORT H NOTES Banknotes bought and sold. Bulk lots, collections & single items wanted. Tel: 0191 3719 700 E-mail: ian@worldnotes.co.uk Website: wnvw.worldnotes.co.uk Up to date Urn available on request ~ All stocks banked ~ IBNS LM17 ANA LM1998 WILLIAM G. HENDERSON PO BOX 73037 PUYALLUP WA 98373-0037 USA World banknotes for the collector. Large selection of all countries. Many new issues. Sample list $1.00 (overseas $2.00) Phone: ++1-253-848-9194 FAX: ++1-253-770-0880 46 CH14Q MULE FRAKCS !^5mythe regularly offers a large selection of World Banknotes, for immediate sale, and in our auctions. Contact Bruce Smart at 602-400-5559 (cell), 302-992-9767 (office), or at bsmart@smytheonline.com Bruce Smart lfrfo Stephen Goldsmith Past President 2 Rector Street, 1 2th Floor, New York, NY 10006-1844 TEL: 212-943- 1880 TOLL free; 800-622- 1 880 FAX: 212-31 2-6370 E-MAIL: bsmart@smytheonline.com WEBSITE: smytheonline.com We buy, sell, and auction the very best in Banknotes, Antique Stocks an A Bands. Coins, Autographs, Historic Americana, and anything relating to Financial History 47 WORLD BANKNOTES Free Price Lists John Pettit Pty Ltd G.P.O. Box 4593 Sydney NSW 2001 Australia Tel: 61 2 9235 0888 Fax: 61 2 9235 0588 email: jpettit@accsaft.com.au website: wwwJohnpettit.com The Webs foremost resource for Paper Money & Currency of the World Related Books & Ephemera Ask Yasha online! Direct access to one of the world's leading authorities Free valuations, expert advice Kate's Paper Money ithrfifBanknotespast and present ... For a vast selection of 'World Banknotes Please request a free list from: www.katespapermoneyxom katespapermoney@btconnect.com Life Member of the IBNS Kate Gibson, PO Box 819, Camberley GU16 6ZU United Kingdom Tel: 00 44 (0)1252 548026 W07S£D V/tPSK Manen from £7^ fghnitis tan Shop on the Web’s most comprehensive online store All enquiries welcome: yasha@intercol.co.uk or call 00 4420 8349 2207 please visit us at www.intercol.co.uk /WIEL STBNBERG & SOM P.O. Box 752 San Anselmo, CA 94979 Telephone/FAX: (415) 897-1654 E-mail: melsteinberg@mindspring.com to MmbAPive W.RIBf, CH-8309 HAKAB, SWITZERLAND e -in aiI: wi irl d papenmon ey@fre esurf. ch Our price lists contain extensive listings of better world notes. Free on request 48 WORLD BANKNOTES BOUGHT AND SOLD—ANY QUANTITY LARGEST STOCK OF BANKNOTES IN THE WORLD OVER 50,000,000 PIECES AVAILABLE SEND FOR FREE WHOLESALE LIST EDUCATIONAL COIN COMPANY P.O. BOX 892 HIGHLAND, NY 12528 USA Phone (845) 691-6100 • FAX (845) 691-4974 E-Mail:order@educationalcoin.com www.educationalcoin.com B. FRANK & SON Three AUCTIONS each year in Spring, Summer & Winter 250 Lots of bank notes & Scripophily Over 1000 other Lots of coins, medals, tokens numismatic books & accessories B. FRANK & SON 3 South Ave., Ryton NE40 3LD, England Tel: 0191 413 8749 FAX: 0191 413 2957 e-mail: bfrankandson@aol.com Website: www.bfrankandson.com WHITE’S Buying and selling banknotes from around the world. Catalogue every 6-8 weeks. Please send for a free copy. Please contact Jane White PO Box 5936, Basildon. SS13 1WZ. United Kingdom, one: ++44(0)1268-550? email: janewhite21@hotmail.com Or visit our website www.banknotes4sale.com Are you interested in CHOICE WORLD COINS? You should be receiving our publications FOUR TO SIX AUCTION CATALOGUES ANNUALLY Featuring RARE and CHOICE gold and silver coins of the world as well as ancient coinage and world paper money. A sample catalogue is $25.00 postpaid, includes Prices Realized. An annual subscription is also available. The cost is $80 within the U S. and $100 outside the U S. Visit our web site at: www.ponterio.com Ponterio & Associates, Inc. RM.G. 1818 Robinson Ave. San Diego. CA 92103 1-800-854-2888 or 619-299-0400 Fax 619-299-6952 E-mail: coins@ponterio.com Licensed Auction Company A "TT p.\G. Richard H. Ponterio - President 49 WORLD PAPER MONEY specialized in Poland. Russia & E.Europe' ATS notes Free Price List www.atsnotes.com M atsfiatsnotes.com Tom Sluszkiewicz Michael Morris Quality World Curency • Visa/MasterCard welcome • Free Price Lists (print & online) PO Box 20046 Minneapolis, MN 55420 USA P.O.Box 54521, Middlegate Postal BURNABY, B.C., CANADA, V5E 4J6 E-mail: morris@sihope.com Tel: (952)881-9403 www.sihopc.com/~morris Fax: (952) 888-4874 INTERNATIONAL BOND & SHARE SOCIETY Founded 1978 for collectors of old stocks and bonds The Directory A Membership and Dealer directory, with full listings for the USA, U K . Germany and 40 other countries. Published annually. o,°Np $ cK * 0 ° Scripophily A quarterly magazine with 36 illustrated pages of U S , European & world news, research, auctions, and a diary of coming events. U.S.A. RichartT. Gregg, president 15Dyan Placae PO Box 430 Hackensack. NY 07601-6004 Tel: (+1)201 489 2440 Fax: (+1)201 592 0282 REST OF THE WORLD Peter Duppa-Miller, chairman Beechcroft Combe Hay Bath BA2 7EG, UK Tel: |+44)/(()) 1225 837271 Fax: (+44)/(0) 1225 840583 president@scripophily.org chairman@scripophily.org www.scripophily.org BUYING! BANKNOTES, ENGRAVINGS, STOCKS & BONDS, PRINTED DOCUMENTS, PROOFS, SPECIMENS, ORIGINAL ART, PRESENTATION FOLDERS, VIGNETTES, ALL POSTAGE & REVENUE & PRIVATE STAMP RELATED ITEMS, B&W, ABNC. SALE LOTS LARGE QUANTITIES & SINGLE ITEMS ARTHUR H. MOROWITZ PH 212 489-8130 FAX 212 581-8130 BANKNOTE DIVISION 432 WEST 54TH ST. NYC, NY 10019 SEND FOR YOUR FREE BANKNOTE SPECIMENS OF THE WORLD PRICE LIST P 50 LATIN AMERICA Argentina Chile Colombia Costa Rica Ecuador Guatemala Honduras Peru The Guyanas West Indies Rare Private Banks & Early Government Paper Money Proofs, Specimens, Models, and other Special Materials. Send wants lists or indicate interests William Barrett Numismatics Ltd. Box 9 Victoria Station Montreal, Quebec, CANADA H3Z 2V4 TEL: 514-937-4131 FAX: 514-481-5199 WORLD BANKNOTES MILITARY PAYMENT CERTIFICATES ALLIED MILITARY CURRENCY PLEASE SEND SASE FOR OUR FREE LISTS THINK OF OUR GENEROUS OFFER WHEN YOU SELL! P.O. BOX 222 CHINO HILLS, CA 91709 U.S.A. TELEPHONE FAX SERVING (909)627-2776 (909)627-3996 SINCE 1980 E-mail: quetzalcurrency@adelptiia.net www.essiekashani.com email: wbarrett@videotron.ca SPECIALIST IN WORLD BANKNOTES with emphasis On Straits Settlements. British and French Other better Malaya, Sarawak colonials I world notes Whether you ore selling or buying, do give us o call Phone (65J *312 6092 Fax [65) 6554 0231 email numri wotfd@pacjfi£, ne/.sg Numis 'WorCcf www, nvmtxwdffcLc&n RoOimar! Rood PQ Box 1605 Singapore (900205) I.B.N.S. ANA SPMC LANSA C®INCRAFT opposite the British Museum 44-45 Great Russell Street London WC1B3LU (020) 7636 1188 (020) 7637 8785 FAX (020) 7323 2860 (020) 7637 7635 EMAIL info@coincraft.com WEBSITE www.coincraft.com We buy & Sell British and World Banknotes Open Monday-Friday 9:30-5:30, Saturday 9:30-2:30 opposite the British Museum COINCRAFT “Nice people to do business with ” 51 Index to Advertisers E. K. Aboagye.42 Richard Ainsworth.42 Armen.52 William Barrett Numismatics LTD.51 Champion Stamp Co.50 Coincraft.51 Thomas Hoiland Auctions.Inside Back Cover Howard A. Daniel III.42 Dix Noonan Webb. Back Cover Educational Coin Company.49 B. Frank & Son.49 Ian Gradon.46 William G. Henderson.46 InterCol.48 International Bond and Share Society.50 Essie Kashani.51 Kate's Paper Money.48 Michael Knabe.42 Krause Publications.3 London Coins.43 Michael Morris.50 The Naples Bank Note Company.45 Colin Narbeth.46 Nova Online.42 Numis World.51 Page's Coins and Currency.46 John Petttit.48 Ponterio and Associates.49 Purvis.42 W. Ribi.48 Tom Sluszkiewicz.50 Smythe.47 Spink & Son, Ltd.Inside front cover Mel Steinberg.48 Token Publishing.44 Jane White.49 World Wide Notaphilic Service.46 We Three Kings of Orient Are... ... recommending that you contact Armen Hovsepian for his specialized. Free, Price List of Over 1000 Banknotes of the Middle East. Tell him, "The 3 Kings" introduced you; in order to get the special discount. Armen Hovsepian P. O. Box 15204 Lenexa, KS 66285-5204, U.S.A. Tel: (913)631-7909 E-mail: annentoMEBanknotes.com www.MEBanknotes.com 52 J^A* nrkvF-&FJ,.4SDi Trtrfc ^iwfrrg*. •Vt^te rcoj?ivr<). iSSM! AUCTION Coins and Bank Notes The JasperNwdsted P April 29th 2006 More than 1000 bank notes a 033862 a 033862 ijiirmtitr, fi> Jfwfuft 1$H 2 !- (D* Cfidte-j 7lit $obrniiurnt at Gibraltar ***** <kcU"* ** U U aftfv mU, af TWO SfULUHS w it U Uf*l fcwfar far «Aoi Aunt, «*rf **<UtUln b rtdm t ihr tmJ *JU •» ttariutf *-*»»> far 4* M* A*®* mIu «l a ^ tt *• /fcwrf AwwAar iv 9f» EaaalUacj a , g*** internal JrrMurtr. K}.-|hM«iU mmI nA> I A* jfWH ii M V W"*< >» *» ««. ** ,»J anmi hrmnm a/lit CHui «Bf! 00 BBo 6B8 DO s The of overnment «I IXm 10-12 international auctions a year Daily auctions at www.thauctions.com Complimentary sample catalogue on request The Largest Auctionhouse for Coins and Bank Notes in Scandinavia Thomas Holland Auctions Ltd. Stamps • Coins • Wine • Weapons • Jewelry Lygten 37 • DK-2400 Copenhagen NV • Denmark • Tel +45 3386 2424 Fax +45 3386 2425 • info@thauctions.com • www.thauctions.com Are you an active buyer of paper money? If so, you'll want to be on our mailing list - because our auctions frequently include a good selection of British, Colonial and world banknotes. Write, e-mail or fax us your details and we'll send you a complimentary copy of our next banknote catalogue. 7 October 2004. We welcome banknote consignments too! If you're thinking of selling, please contact Christopher Webb. Forthcoming auctions: 28-29 September 2005 25 November 2005 15 March 2006 Check out the content of these auctions on our website, updated daily! ^urrfiirnitfnimtssuni *■%£«) (CuuntoutnAirutii Ivi'ittltt ilita Water (CoDbluitr Ireland, Provincial Bank of Ireland, Ten Pounds, 2 October 1931, Brennan-Forde signatures (Pick 40b). Sold for £1,208 on 16 March 2005. South Africa, De Nationale Bank, Een Pond, 22 May 1891, no. A0001 (Pick 36a). Sold for £2,760 on DIX NOONAN WEBB 16 Bolton Street Piccadilly London W1J 8BQ England Telephone 44 (0) 20 7016 1700 Fax 44 (0) 20 7016 1799 E-mail coins@dnw.co.uk PM NOON 4 S Mill DNW www.dnw.co.uk </pre> </div> </main> </div>  <script nonce="**CSP_NONCE**" > if (typeof archive_analytics !== 'undefined') { archive_analytics.send_pageview_on_load(archive_analytics); archive_analytics.process_url_events(location); var vs = archive_analytics.get_data_packets(); for (var i in vs) { if (!vs[i]) { vs[i] = {}; } vs[i]['cache_bust']=Math.random(); vs[i]['server_ms']=61; vs[i]['server_name']="www19.us.archive.org"; } if (document.querySelectorAll('.more_search').length) { archive_analytics.send_scroll_fetch_base_event(); } } </script> <img src="//athena.archive.org/0.gif?kind=track_js&track_js_case=control&cache_bust=223065825" alt="" /> <noscript> <img src="//athena.archive.org/0.gif?kind=track_js&track_js_case=disabled&cache_bust=1735488965" /> </noscript> <script nonce="**CSP_NONCE**" > document.addEventListener('DOMContentLoaded', function() { if (typeof archive_analytics !== 'undefined') archive_analytics.create_tracking_image('in_page_executes'); }); </script> </div> </body> </html>