Face:

woman head in helmet; denomination;

Text:

BANQUE DE L'INDO-CHINE = Bank of Indochina;
UNE PIASTRE = One piastre;
PAYABLES EN ESPÈCES AU PORTEUR = Payable to bearer in cash;
UN ADMINISTRATEUR = Administrator
[signature: Albert de Monplanet (on P-48a) or Stanislas Simon (on P-48b)];
LE DIRECTEUR = Director
[signature: René Thion de la Chaume];
L'ARTICLE 139 DU CODE PÉNAL PUNIT DES TRAVAUX FORCÉS CEUX QUI AURONT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUES AUTORISÉES PAR LA LOI
= Article 139 of Penal Code punishes with the forced labour those who counterfeits or falsifies the bills of the banks authorized by the Law;
CH. WALHAIN. FEC. [designer: Charles Albert Walhain]; E. DELOCHE. SC. [engraver: Emile Deloche];

Back:

denomination;

Text:

BANQUE DE L'INDO-CHINE = Bank of Indochina;
GIẤY BẠC MỘT ĐỒNG = Banknote (silver paper) one piastre;
១ រៀល = 1 piastre;
銀壹元 = Silver 1 piastre;

Watermark:

Vietnamese male head