Decree No. 51/SL in 1947 stipulates that one Vietnamese piastre is equivalent to twenty copper cash coins of Minh Mạng and Thiệu Trị circulating in northern and central provinces. This document aims to stabilize the single currency system.
Scope of application
Citizens and businesses in northern and central provinces of Vietnam
Key points
- Citizens, businesses → must comply with the valuation that one Vietnamese piastre is equivalent to twenty copper cash coins of Minh Mạng and Thiệu Trị (Article 1)
- The Minister of Finance and the Minister of Justice → are responsible for implementing this decree (Article 5)
- Persons violating regulations on exchange or transactions using non-compliant currency rates → shall be prosecuted by military courts and confiscated assets will be seized (Article 4)
- Copper cash coins circulating in northern and central provinces → must be round with a square hole bearing the reign titles of Minh Mạng and Thiệu Trị (Article 2)
- All transactions using copper cash coins → shall be valued according to the rate of one Vietnamese piastre equivalent to twenty copper cash coins (Article 3)
🌐 Social impact of this document
- Positive impact: Citizens and businesses can stabilize their transactions, exchange goods, and services at the prescribed rates.
- Negative impact: Those violating currency regulations will face severe penalties.
❓ Frequently asked questions
How many copper cash coins is one Vietnamese piastre equivalent to?
According to the Decree, one Vietnamese piastre is equivalent to twenty copper cash coins of Minh Mạng and Thiệu Trị.
What is the shape of the circulating copper cash coins in northern and central provinces?
Copper cash coins must be round with a square hole bearing the reign titles of Minh Mạng and Thiệu Trị.
Full text
DECREE-LAW
OF THE CHAIRMAN OF THE GOVERNMENT OF THE DEMOCRATIC REPUBLIC OF VIETNAM
NUMBER 51 DATED JUNE 1, 1947
THE CHAIRMAN OF THE GOVERNMENT
WHEREAS it is necessary to have a single monetary system;
WHEREAS the circulation of coins bearing the reign titles Minh Mạng and Thiệu Trị in northern and central provinces is one of the reasons for rising costs of living;
UPON THE PROPOSAL OF THE MINISTER OF FINANCE;
AFTER CONSULTATION WITH THE STANDING COMMITTEE OF THE NATIONAL ASSEMBLY AND THE COUNCIL OF GOVERNMENT;
DECREE-LAW:
Article 1
Pending the issuance by the Ministry of Finance of an appropriate currency to replace the existing coins, a Vietnamese piaster shall be valued at twenty coins.
Article 2
The coin referred to in Article 1 is circular with a square edge and bears the reign titles Minh Mạng, Thiệu Trị ... and continues to circulate in northern and central provinces.
Article 3
Transactions conducted using coins shall be valued according to the ratio specified in Article 1.
Article 4
Persons violating Article 3 above shall be prosecuted before a military court, and confiscated property will be seized.
Article 5
The Minister of Justice and the Minister of Finance are hereby authorized to implement this Decree-Law.
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