Bearer's check of 1,000,000 Taiwan Dollars (TW$1,000,000) issued by the Bank of Taiwan. Hyperinflation led authorities to issue bearer's checks denominated at one million dollars in 1948.
Taiwan was under Japanese rule from 1895 to 1945 and the colonial government of Taiwan issued Taiwanese yen during this period through the Bank of Taiwan. In 1945, after the Japanese Empire was defeated in World War II, Taiwan was handed over to the Republic of China (ROC). Within a year, the Nationalist government assumed control of the Bank of Taiwan and issued Taiwan dollars (also known as Taiwan Nationalist yuan or TWN) as a "provisional" replacement for the Taiwan yen at the rate of one to one. The new banknotes were initially printed in Shanghai, and were shipped to Taipei. After the Nationalists consolidated their control over Taiwan the banknotes were printed in Taipei. The currency was not subdivided (no cents), and no coins were issued.
Due to the Chinese Civil War in the late 1940s, Taiwan, like China, suffered from hyperinflation.[citation needed] As inflation worsened, the government issued banknotes at higher and higher denominations, up to one million yuan. Because the inflation of the Taiwan dollar was only a side effect of the inflation of the then Chinese yuan of mainland China, it depreciated at a slower rate than the currency used on the mainland.
The Taiwan dollar was replaced by the New Taiwan dollar on 15 June 1949, at the rate of 1 new dollar to 40,000 old dollars. The Nationalists were defeated by the Communists in December of the same year and retreated to Taiwan. The government then declared in the Temporary Provisions Effective During the Period of Communist Rebellion that dollars issued by the Bank of Taiwan would become the new currency in circulation.[1]
Banknotesedit
The denominations of the Old Taiwan dollar in circulation were:
^Chuang, Chi-ting (February 17, 2001). "Legislator pans new bank notes". Taipei Times. p. 4. from the original on June 15, 2018. Retrieved January 17, 2006.
Currency of Taiwan Province, Republic of China 1946 – 1949 Note: Taiwan dollar was initially intended to be a temporary and local currency
Succeeded by: New Taiwan dollar Reason: inflation Ratio: 1 new dollar = 40,000 old dollars
April 09, 2024
taiwan, dollar, from, 1946, 1949, beginning, shortly, after, taiwan, handover, from, japan, republic, china, currency, issued, bank, taiwan, hyperinflation, prompted, introduction, taiwan, dollar, june, 1949, shortly, before, nationalist, evacuation, from, mai. The Old Taiwan dollar was in use from 1946 to 1949 beginning shortly after Taiwan s handover from Japan to the Republic of China The currency was issued by the Bank of Taiwan Hyperinflation prompted the introduction of the New Taiwan dollar in June 1949 shortly before the Nationalist evacuation from mainland China in December Old Taiwan dollar舊臺幣 Chinese UnitSymbolTW DenominationsBanknotes1 5 10 50 100 500 1000 5000 10 000 100 000 dollarsDemographicsDate of introduction1946ReplacedTaiwanese yenDate of withdrawal1949Replaced byNew Taiwan dollarUser s Taiwan Province Republic of ChinaIssuanceCentral bankBank of Taiwan Websitewww wbr bot wbr com wbr twPrinterChina Engraving and Printing Works Websitewww wbr cepp wbr gov wbr twValuationValueTW 40 000 NT 1This infobox shows the latest status before this currency was rendered obsolete Old Taiwan dollarTraditional Chinese舊臺幣Simplified Chinese旧台币TranscriptionsStandard MandarinHanyu PinyinJiutaibiHakkaPha k fa sṳKhiu thoi piSouthern MinHokkien POJKu tai peTai loKu tai pe Contents 1 History 2 Banknotes 3 See also 4 References 5 External linksHistory edit nbsp Bearer s check of 1 000 000 Taiwan Dollars TW 1 000 000 issued by the Bank of Taiwan Hyperinflation led authorities to issue bearer s checks denominated at one million dollars in 1948 Taiwan was under Japanese rule from 1895 to 1945 and the colonial government of Taiwan issued Taiwanese yen during this period through the Bank of Taiwan In 1945 after the Japanese Empire was defeated in World War II Taiwan was handed over to the Republic of China ROC Within a year the Nationalist government assumed control of the Bank of Taiwan and issued Taiwan dollars also known as Taiwan Nationalist yuan or TWN as a provisional replacement for the Taiwan yen at the rate of one to one The new banknotes were initially printed in Shanghai and were shipped to Taipei After the Nationalists consolidated their control over Taiwan the banknotes were printed in Taipei The currency was not subdivided no cents and no coins were issued Due to the Chinese Civil War in the late 1940s Taiwan like China suffered from hyperinflation citation needed As inflation worsened the government issued banknotes at higher and higher denominations up to one million yuan Because the inflation of the Taiwan dollar was only a side effect of the inflation of the then Chinese yuan of mainland China it depreciated at a slower rate than the currency used on the mainland The Taiwan dollar was replaced by the New Taiwan dollar on 15 June 1949 at the rate of 1 new dollar to 40 000 old dollars The Nationalists were defeated by the Communists in December of the same year and retreated to Taiwan The government then declared in the Temporary Provisions Effective During the Period of Communist Rebellion that dollars issued by the Bank of Taiwan would become the new currency in circulation 1 Banknotes editThe denominations of the Old Taiwan dollar in circulation were Orientation Value Dimensions Main Color Description Date ofObverse Reverse printing issueHorizontal Style Banknotes 1 dollar 130 70 mm Blue Sun Yat sen Bank of Taiwan map of Taiwan Naval Battle Against the Dutch 1946 22 May 19465 dollars 135 73 mm Red10 dollars 141 77 mm Green Gray50 dollars 144 77 mm Brown 1 September 1946100 dollars 154 82 mm Green500 dollars 158 84 mm Red 17 May 1948100 dollars 154 81 mm Green 1947 1 February 19481000 dollars 158 86 mm Blue Gray 1948 17 May 19481000 dollars Sun Yat sen Bank of Taiwan map of Taiwan Sugarcane 17 August 194810 000 dollars 160 86 mm Dark Green 11 December 194810 000 dollars 143 67 mm Red Sun Yat sen map of Taiwan Bank of Taiwan 1949 17 May 1949100 000 dollars 146 63 mm Red NeverVertical Style Bearer s Checks 5000 dollars 60 147 mm Orange Bank of Taiwan None unifaced None 3 May 194810 000 dollars 61 150 mm Blue 1 June 1948100 000 dollars Red 3 September 19481 000 000 dollars Red Brown December 1948See also edit nbsp Money portal nbsp Numismatics portal nbsp Taiwan portalEconomy of Taiwan History of Taiwan History of the Republic of China Political status of Taiwan New Taiwan dollarReferences edit Chuang Chi ting February 17 2001 Legislator pans new bank notes Taipei Times p 4 Archived from the original on June 15 2018 Retrieved January 17 2006 External links editPreceded by Taiwan yenReason Administration of Taiwan transferred to Republic of ChinaRatio at par Currency of Taiwan Province Republic of China 1946 1949Note Taiwan dollar was initially intended to be a temporary and local currency Succeeded by New Taiwan dollarReason inflationRatio 1 new dollar 40 000 old dollars Retrieved from https en wikipedia org w index php title Old Taiwan dollar amp oldid 1205983072, wikipedia, wiki, book, books, library,
