Banknotes of the Treasury: origins, creations and emissions

Banknotes of the Treasury: what is it?

The Banknote of the treasure is the object of many covetousnesses on behalf of some billetophiles and numismatists. At which period and in which context these Banknotes were issued? What represents the Banknotes of the Treasury exactly? Attention, those should not be confused with the Treasury bills, the titles of loan emitted by the State.

Banknotes of the treasure: origins and context

To understand what is a Banknote of the Treasury, it is necessary to go back to the year 1941. At this period, France is divided into two: whereas north is the west of the country are under German occupation, the south and the east correspond to the free zones. Thus the French National committee is created in September 1941 thanks to an ordinance signed by the general de Gaulle: it is about a government-in-exile whose buildings are installed in London. In December 1941, it is with the tower of the central Case of free France to come out in the buildings of the bank of England. One year before, France had obtained financial facilities near this institution to create this funds (these sums were refunded with the Release of France). It is André Diethelm, resisting and tax inspector which takes over the leadership of the central Case of free France in 1941.

Creation, emission and putting into circulation of the Banknotes of the Treasury

The central Case of free France fulfills two roles: that of the Treasury and that of transmitter of the French currency in the free territories. Thus starting from 1943, the Banknotes of the Treasury replace the official cuts emitted by Banque de France and enter in circulation the free zones. The cuts of Banque de France are withdrawn and the inhabitants must exchange them against these new banknotes. The Banknotes of the Treasury constitute a fiduciary currency, namely a currency which understands at the same time coins and banknotes. They are emitted in London between 1943 to 1944. It is De La Rue, a British printer, which is charged to engrave and print these Banknotes. As for their design, she is entrusted to Edmond Dulac, a French illustrator who obtained British nationality in 1921. It is him who imagined Marianne Dulac, also called Marianne of London, which is present on many Banknotes.

Examples of Banknotes of the Treasury

The 100 francs Free Corsica Marianne is a Banknote which circulated in Corsica of 1943 to 1946. Of blue color and measuring 156mm X 99mm, it replaced the Banknotes of 100 francs emitted by Banque de France: to obtain these new Banknotes, the populations were to go in the post offices. The inscription “Treasure central” is present on the recto, under the mention “French Republic”. Among the other Banknotes of the Treasury, one finds the 500 francs maroon Marianne as well as the 1000 francs green Marianne.