The Decree permits the issuance of promissory notes in Southern Vietnam with denominations from 1 dong to 500 dongs, equivalent in value to Vietnamese banknotes. The total value of promissory notes shall not exceed 20 million dongs and shall circulate as cash.
Scope of application
Citizens and organizations in Southern Vietnam
Key points
- Southern Vietnam is permitted to issue promissory notes with denominations from 1 dong to 500 dongs (Article 1).
- Promissory notes have a value equivalent to Vietnamese banknotes and can be exchanged for banknotes at face value (Article 2).
- The total value of issued promissory notes shall not exceed 20 million dongs (Article 3).
- Promissory notes shall circulate as Vietnamese banknotes (Article 4).
- Individuals who destroy the value of promissory notes will be prosecuted before military courts (Article 5).
🌐 Social impact of this document
- To strengthen capital sources for economic activities in Southern Vietnam.
- It may cause inflation risks if not managed strictly.
- Citizens and businesses have additional means of payment.
❓ Frequently asked questions
What denominations are promissory notes allowed to be issued in?
Denominations from 1 dong to 500 dongs (Article 1).
What is the value of promissory notes equivalent to?
Equivalent to Vietnamese banknotes, exchangeable for banknotes at face value (Article 2).
What is the maximum total value of issued promissory notes?
Not exceeding 20 million dongs (Article 3).
Full text
DECREE
OF THE CHAIRMAN OF THE GOVERNMENT OF THE DEMOCRATIC REPUBLIC OF VIETNAM
NUMBER 102 DATE NOVEMBER 1, 1947
PRESIDENT OF THE VIETNAM DEMOCRATIC REPUBLICIC GOVERNMENT
Considering the current situation,
AT THE REQUEST OF THE MINISTER OF FINANCE,
After consultation between the Standing Committee of the National Assembly and the Council of Ministers;
ISSUES THE DECREE:
Article 1
IT IS HEREBY PERMITTED TO ISSUE IN THE SOUTH THE FOLLOWING "CREDIT NOTES" WHICH SHALL HAVE THE SAME VALUE AS VIETNAMESE BANKNOTES:
CREDIT NOTE OF ONE DONG,
- FIVE DONG,
- TEN DONG,
- TWENTY DONG,
- FIFTY DONG,
- ONE HUNDRED DONG,
- FIVE HUNDRED DONG,
Article 2
THE ABOVE MENTIONED "CREDIT NOTES" SHALL BE EXCHANGEABLE FOR VIETNAMESE BANKNOTES AT FACE VALUE.
Article 3
THE TOTAL VALUE OF THE "CREDIT NOTES" ISSUED PURSUANT TO ARTICLE 1 OF THIS DECREE SHALL NOT EXCEED TWENTY MILLION DONG (20,000,000 DONG).
Article 4
THESE "CREDIT NOTES" SHALL CIRCULATE LIKE VIETNAMESE BANKNOTES.
Article 5
ANYONE WHO ENGAGES IN ACTS THAT DESTROY THE VALUE OF THESE "CREDIT NOTES" SHALL BE PROSECUTED BEFORE THE MILITARY COURT.
Article 6
A DECREE OF THE SOUTH ADMINISTRATIVE COMMISSION SHALL ESTABLISH THE DETAILS FOR IMPLEMENTATION OF THIS DECREE.
, Clause 1, Clause 2 Article 7a of this Regulation.
THE MINISTERS OF FINANCE AND INTERIOR AND THE CHAIRMAN OF THE SOUTH ADMINISTRATIVE COMMISSION SHALL ENFORCE THIS DECREE.
Ho Chi Minh City
(Signed)
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