Set Description:
The French involvement in India began with the establishment of the French East India Company and reached its peak in the 1750-1770's when the french played a dominant role in South Indian Politics. Subsequent wars with England and the Revolution in France saw the decline in French influence in India.After successive closures and re-openings,the French Settlements in India,right from 1817 until 1954 were made up of various isolated territories with a combined area of 510 square kilometers.In the post-Napoleonic years,French colonial possessions in India were reduced tot he coastal settlements of Chandernagor (in bengal),Yanaon (Andhra Pradesh),Mahe (Kerala) and Karaikkal and Pondichery (Tamilnadu).Pondichery was the most important settlement.The French granted independence to the colonies in a gradual manner during 1952-1956.
The Banknote-issue for those colonies was managed by the Banque de l'Indochine,which operated from Paris and controlled the currency affairs of all French colonies in the Orient.
It was agreed between Le Comptoir D'Escompte d'Escompte de Paris and Credit Industriel et Commercial to set up a bank that would operate in both Cochinchina and French India.The decree authorizing the foundation of the Banque de I'Indochine was signed on 21st January 1875 by the President of the Freanch Republic,Marshal de Mac-Mahon.The statutes of the Bank stipulated that it was a liability company founded for a period of twenty years with two branches at Saigon and Pondichery but could open other offices in those parts of the Fra East where French commercial interets existed.On 8th January 1877 the Branch office at Pondichery was opened in the Oriental Bank Building with Messers Gauthier and Stanislas Simon (who would later become the Bank's President in Paris) respectively Manager and cashier/Accountant.
Almost all the banknotes issued by the Banque de L'Indochine between 1876 and the Second World War were printed by the Bank of France. During the war the banknotes were printed in Hanoi by the Imprimerie d'Extreme Orient (I.D.E.O) and in Japan.
The Pondichery branch was responsible for issue of its notes in india. First note were issued in 1876 and were of a denomination of Ten Roupies. Subsequently,notes of one,Five and fifty Roupies were also issued.The monetary system had always been different from that in France.It was similar to that used in India and based on a silver coinage,the Rupee.Banknotes issued by the Banque de I'Indochine ceased on 1st November 1954 after the incorporation into the Republic of India of the French territories in in India.
{The contents of the above information was Copied from India Paper Money-2012 with the permission of its Author Sir Mr.Rezwan Razack.}
|