Coins and Banknotes of Vietnam and French Indochina
ANNAM AND ITS MINOR CURRENCY
PAPER-MONEY IN ANNAM.
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The Government made great efforts to ensure the circulation of this paper-money, and impose it on the people. To that end it was ordered that all copper coins in circulation should be taken to the Treasuries, where the value of one string and two tien of paper-money was given for one string of cash. The forgery of paper-money was punished with death by decapitation, and there were also severe penalties imposed on those who had copper coins in their possession.
But in spite of those orders and restrictions, paper-money soon fell into discredit and the old copper coins circulated freely. In fact the very General HO QUI-LY ordered copper cash to be cast when he rebelled and usurped the Royal autliority.