{"id":276805,"date":"2022-04-03T09:47:46","date_gmt":"2022-04-02T23:47:46","guid":{"rendered":"https:\/\/arabcollector.com\/?p=276805"},"modified":"2023-05-02T18:17:33","modified_gmt":"2023-05-02T08:17:33","slug":"the-first-issue-of-egyptian-paper-currency","status":"publish","type":"post","link":"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/","title":{"rendered":"The first issue of Egyptian paper currency"},"content":{"rendered":"<p dir=\"rtl\">When was the first issue of Egyptian paper currency put into circulation? And was it actually put into circulation from the first moment of its issuance?<\/p>\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D9%85%D9%82%D8%AF%D9%85%D8%A9_%D8%B9%D9%86_%D8%A7%D9%84%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1_%D8%A7%D9%84%D8%A3%D9%88%D9%84_%D9%85%D9%86_%D8%A7%D9%84%D9%86%D9%82%D8%AF_%D8%A7%D9%84%D9%88%D8%B1%D9%82%D9%8A_%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A\" >Introduction to the first issue of Egyptian paper currency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9_%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85_1899\" >Al-Ahram Newspaper 1899<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%AA%D9%82%D8%B1%D9%8A%D8%B1_%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9_1899-1900\" >Financial Report 1899-1900<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%AA%D9%82%D8%B1%D9%8A%D8%B1_%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9_1900-1901\" >Financial Report 1900-1901<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9_%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85_1900-1901\" >Al-Ahram Newspaper 1900-1901<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1_%D9%85%D8%AA%D9%86%D9%88%D8%B9%D8%A9\" >Various news<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%AA%D8%B2%D9%8A%D9%8A%D9%81_%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9\" >Currency counterfeiting<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/arabcollector.com\/en\/%d8%a7%d9%84%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d8%a7%d9%84%d8%a3%d9%88%d9%84-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d9%88%d8%b1%d9%82%d9%8a-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a\/#%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%AF%D8%B1\" >Sources:<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-right\" id=\"0-%D9%85%D9%82%D8%AF%D9%85%D8%A9\"><span class=\"ez-toc-section\" id=\"%D9%85%D9%82%D8%AF%D9%85%D8%A9_%D8%B9%D9%86_%D8%A7%D9%84%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1_%D8%A7%D9%84%D8%A3%D9%88%D9%84_%D9%85%D9%86_%D8%A7%D9%84%D9%86%D9%82%D8%AF_%D8%A7%D9%84%D9%88%D8%B1%D9%82%D9%8A_%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A\"><\/span>Introduction to the first issue of Egyptian paper currency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<p dir=\"rtl\"><img decoding=\"async\" class=\"wp-image-278825 alignleft\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2022\/12\/277590941_355332503316413_3397108415618317916_n-Small.jpg\" alt=\"277590941_355332503316413_3397108415618317916_n-Small\" width=\"217\" height=\"304\">While reading the new part of Engineer Magdi Hafi\u2019s book, Encyclopedia and Catalog of Egyptian Currencies - Egyptian Banknotes, I was struck by the details in Chapter Five regarding the circulation of the first issue of Egyptian banknotes, which is a distinctive addition for Egyptian banknote enthusiasts as it chronicles a period whose features were not clear.<\/p>\n<p dir=\"rtl\">This topic was addressed in this part of the book in a distinctive way, and it was clarified that the first monetary issue was circulated from the first year of its issuance, as an article published in Al-Muqtataf magazine issued in August 1899 was presented, in which there was a description of a ten-pound note in circulation. A model of a five-pound note dated 1\/10\/1899 was also presented, as well as models of other pieces that were circulated and others that were counterfeited.<\/p>\n<p dir=\"rtl\">Also displayed was a bank document issued in 1906 showing sums of money of various denominations (5, 10, 50 and 100 pounds), as well as a document from Lord Cromer documenting the circulation of paper currency of all denominations (50 piasters up to 100 pounds).<\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\"><\/p>\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"480\" height=\"705\" data-id=\"279569\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/277319778_514013320244298_5402835038169650849_n-Small.jpg\" alt=\"\" class=\"wp-image-279569\"><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"480\" height=\"658\" data-id=\"279567\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/277466767_778504633553180_4653990337877731675_n-Small.jpg\" alt=\"\" class=\"wp-image-279567\"><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"480\" height=\"660\" data-id=\"279568\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/277575289_1106529803258402_4956648481075524722_n-Small.jpg\" alt=\"277575289_1106529803258402_4956648481075524722_n-Small\" class=\"wp-image-279568\"\/><\/figure>\n<\/figure>\n\n\n<p dir=\"rtl\">Therefore, I wanted to add to this wonderful work by Engineer Magdi Hanafi some other evidence and proofs that prove the circulation of the first issue of Egyptian paper currency since its first year, and on the other hand, to clarify the mechanism by which the currency was circulated in the markets, and we will try to mention it in a chronological sequence starting from the issuance of the papers.<\/p>\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"700\" height=\"368\" data-id=\"279585\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Egypt-1-pound-1899-Camel.jpg\" alt=\"The first issue of the Egyptian pound banknote\" class=\"wp-image-279585\"\/><figcaption class=\"wp-element-caption\">The first issue of the Egyptian pound banknote<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"540\" height=\"293\" data-id=\"279584\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/egypt-50-piastres-1899.jpg\" alt=\"The first issue of the fifty-piaster Egyptian paper currency\" class=\"wp-image-279584\"\/><figcaption class=\"wp-element-caption\">The first issue of the fifty-piaster Egyptian paper currency<\/figcaption><\/figure>\n<\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-right\" id=\"1-%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9-%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85-1899\"><span class=\"ez-toc-section\" id=\"%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9_%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85_1899\"><\/span>Al-Ahram Newspaper 1899<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<p dir=\"rtl\">It published a news item in its issue dated April 11, in the interest of the Post Office, announcing to the public the circulation of Egyptian paper currency (banknotes) and that they should not send them by the Post Office except in registered and insured letters. It should be noted that the announcement was made when the circulation of banknotes began.<\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279570 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645_-1899.04.11-Small.jpg\" alt=\"Al-Ahram - 1899.04.11 - Small\" width=\"499\" height=\"480\"><\/p>\n<p><\/p>\n\n\n<h2 class=\"wp-block-heading has-text-align-right\" id=\"2-%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-1899-1900\"><span class=\"ez-toc-section\" id=\"%D8%AA%D9%82%D8%B1%D9%8A%D8%B1_%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9_1899-1900\"><\/span>Financial Report 1899-1900<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<p dir=\"rtl\">The report on Egypt\u2019s finances, administration, and condition, issued in June 1900 in Arabic for the fiscal year (1899), clarified the point of using Egyptian paper money, stating that it was issued in May and that the amount in circulation up to October of the same year was equivalent to 125,000 Egyptian pounds. However, a large part of it was returned to it shortly afterward because the government collected it from the people when paying taxes, and the value of the papers in circulation reached 60,000 Egyptian pounds on December 31, 1899. However, it clarified that the people must get used to using these papers.<\/p>\n<p dir=\"rtl\">On the other hand, the report explained that Egypt had established a national bank in 1899 and granted the privilege of issuing securities payable on demand, which are not mandatory to accept, but the government collects them when taxes are paid. This explains another aspect of the mechanism of circulation, as the government was instilling confidence in paper money by finding a way to circulate it among the public, which was dependent on metal currency and rejected the idea of paper money, by making it a means of dispensing when collecting taxes. It is clear that the people returned most of it to the Egyptian government treasury at the first opportunity.&nbsp;<\/p>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full td-caption-align-center\"><img decoding=\"async\" width=\"439\" height=\"655\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/\u0645\u0627\u0644\u064a\u0629_\u0645\u0635\u0631_1899-Small-e1648808684234.jpg\" alt=\"\" class=\"wp-image-279571\"><figcaption class=\"wp-element-caption\">Report on the Finances, Administration, and Condition of Egypt, issued in June 1900 in Arabic<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading has-text-align-right\" id=\"3-%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-1900-1901\"><span class=\"ez-toc-section\" id=\"%D8%AA%D9%82%D8%B1%D9%8A%D8%B1_%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9_1900-1901\"><\/span>Financial Report 1900-1901<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<p dir=\"rtl\">The financial report issued in 1901 in English indicated an increase in the need for Egyptian paper currency issued by an increase of 20,000 pounds over the previous year, but it was also reported that some time must be given to the public to become familiar with the banknotes.<\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279581 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Reports-by-His-Majestys-Agent-and-Consul.-General-on-the-Finances-Administration-and-Condition-of-Egypt-and-the-Soudan-in-1901-Egypt.-No-1-Small.jpg\" alt=\"Reports-by-His-Majestys-Agent-and-Consul.-General-on-the-Finances-Administration-and-Condition-of-Egypt-and-the-Sudan-in-1901-Egypt.-No-1-Small\" width=\"854\" height=\"171\" srcset=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Reports-by-His-Majestys-Agent-and-Consul.-General-on-the-Finances-Administration-and-Condition-of-Egypt-and-the-Soudan-in-1901-Egypt.-No-1-Small-768x154.jpg.webp 768w, https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Reports-by-His-Majestys-Agent-and-Consul.-General-on-the-Finances-Administration-and-Condition-of-Egypt-and-the-Soudan-in-1901-Egypt.-No-1-Small.jpg.webp 854w\" sizes=\"(max-width: 854px) 100vw, 854px\" \/><\/p>\n\n\n<h2 class=\"wp-block-heading has-text-align-right\" id=\"4-%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9-%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85-1900-1901\"><span class=\"ez-toc-section\" id=\"%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9_%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85_1900-1901\"><\/span>Al-Ahram Newspaper 1900-1901<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<p dir=\"rtl\">The National Bank began publishing advertisements directed to the public to facilitate the sending of Egyptian banknotes within Egypt to the bank\u2019s customers in Cairo, Alexandria, and Mansoura, with a fee of 0.5 per thousand of the banknote\u2019s value to be collected as postal fees, commission, and insurance. Along with presenting the facilities, it listed the advantages of using Egyptian banknotes, as they are used in government departments when paying money, fees, and returns, and government cashiers are ordered to help in disbursing their value in gold and silver, and vice versa. Through these advertisements, the bank\u2019s management targeted the segment of landowners and capitalists.<\/p>\n<p dir=\"rtl\">It is worth mentioning that during that period, farmers still relied heavily on silver and nickel coins to sell their cotton crop, which were issued to them by the Ministry of Finance. The Ministry of Finance tasked the directorates\u2019 treasuries with giving them the aforementioned coins in exchange for gold coins without taking commissions. Therefore, the bank expanded the scope of the loans it gives to farmers in the Lower Egypt centers starting from October 15, 1900, in order to attract other segments, and offered to appoint bank agents to facilitate loans to farmers with a commission of 1% on the value of the loans given by each of them in his district.<\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"wp-image-279572 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1901.06.28-Small.jpg\" alt=\"Al-Ahram - Al-Ahram - 1901.06.28 - Small\" width=\"293\" height=\"802\"><\/p>\n\n\n<h2 class=\"wp-block-heading has-text-align-right\" id=\"5-%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1-%D9%85%D8%AA%D9%86%D9%88%D8%B9%D8%A9\"><span class=\"ez-toc-section\" id=\"%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1_%D9%85%D8%AA%D9%86%D9%88%D8%B9%D8%A9\"><\/span>Various news<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<p dir=\"rtl\">When we browse through the archives of Egyptian newspapers, we find many scattered incidents that prove the circulation of the first issue of Egyptian banknotes. We will review some of them as shown in chronological order.<\/p>\n<p dir=\"rtl\"><strong>Al-Ahram, August 24, 1901: 1000 Egyptian pounds stolen from the National Bank<\/strong><\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279573 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645_-1901.08.24-Small.jpg\" alt=\"Al-Ahram - 1901.08.24 - Small\" width=\"527\" height=\"480\"><\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\"><strong>Al-Ahram, June 21, 1901: Letter of thanks for finding a lost 100-pound note<\/strong><\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279574 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1902.06.21-Small.jpg\" alt=\"Al-Ahram - Al-Ahram - 1902.06.21 - Small\" width=\"480\" height=\"524\"><\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\"><strong>Al-Ahram, January 12, 1903: Postal Authority announces the need to secure correspondence containing banknotes.<\/strong><\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279575 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/1LXXUYhT-Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1903.01.12-Small-400x403-1.jpg\" alt=\"1LXXUYhT-Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1903.01.12-Small-400x403\" width=\"400\" height=\"403\"><\/p>\n<h3 dir=\"rtl\"><span class=\"ez-toc-section\" id=\"%D8%AA%D8%B2%D9%8A%D9%8A%D9%81_%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9\"><\/span>Currency counterfeiting<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"rtl\">The counterfeiting of Egyptian banknotes began after the Egyptian government issued a circular in December 1903 to all its departments to accept banknotes, which strengthened its position in exchange operations and made it a target for unscrupulous people.<\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"wp-image-279576 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1903.12.19-Small.jpg\" alt=\"Al-Ahram - Al-Ahram - 1903.12.19 - Small\" width=\"471\" height=\"344\"><\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\">As a result, the Ministry of Justice amended the National Penal Code and added to Chapter Sixteen a law that punishes the forgery of bank financial documents that were legally authorized to be issued.<\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"wp-image-279582 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/\u0634\u0623\u0646-\u0642\u0627\u0646\u0648\u0646-\u0627\u0644\u0639\u0642\u0648\u0628\u0627\u062a-\u0627\u0644\u0623\u0647\u0644\u064af.jpg\" alt=\"The issue of the national penal code\" width=\"639\" height=\"399\"><\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\">But this did not prevent the counterfeiting gangs, some of whom turned to counterfeiting National Bank papers, and the police began to arrest them, as in the news below (the news is from Al-Ahram newspaper, 19-8-1904).<\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279577 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1904.08.19-Small.jpg\" alt=\"Al-Ahram - 1904.08.19 - Small\" width=\"537\" height=\"480\"><\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\">Banknote theft was also active through letters, assaults, and robberies (News from Al-Ahram newspaper, 3-11-1906).<\/p>\n<p dir=\"rtl\"><img decoding=\"async\" class=\"size-full wp-image-279579 aligncenter\" src=\"https:\/\/pub-8c6367eeb78947fb9a67f9647334fc7f.r2.dev\/wp-content\/uploads\/2023\/01\/Al-Ahram-\u0627\u0644\u0623\u0647\u0631\u0627\u0645\u200e-1906.11.03-Small.jpg\" alt=\"Al-Ahram - 1906.11.03 - Small\" width=\"495\" height=\"480\"><\/p>\n<p dir=\"rtl\">\n<\/p><p dir=\"rtl\">The evidence above, in addition to the chapter mentioned in Engineer Magdi Hanafi\u2019s book, proves beyond any doubt that the first issue of Egyptian paper currency was circulated from the very first moment in the Egyptian markets in multiple stages and different time periods. It was explained that the circulation took place in multiple stages due to the public\u2019s initial refusal to rely on paper money and their preference for the coins they were familiar with in their business.<\/p>\n<p dir=\"rtl\">Initially, transactions were limited to tax collection and within government departments, and then paper money found its way to multiple segments of the population after the adoption of bank lending (loans) and the support of the paper position for use within other government departments.<\/p>\n<p dir=\"rtl\" style=\"text-align: left;\">Dr. Mazen Ibrahim<\/p>\n<h2 dir=\"rtl\"><span class=\"ez-toc-section\" id=\"%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%AF%D8%B1\"><\/span><strong>Sources:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"rtl\">Encyclopedia and Catalog of Egyptian Currencies \u2013 Egyptian Banknotes (M. Magdi Hanafi)<\/p>\n<p dir=\"rtl\"><a href=\"https:\/\/twitter.com\/eahram\" target=\"_blank\" rel=\"noopener\">Al-Ahram newspaper archive<\/a><\/p>\n<p dir=\"rtl\">Financial and General Conditions Reports for Egypt and Sudan 1899-1914<\/p>\n<p dir=\"rtl\">Library of Arabic Monetary Legislation \u2013 The Arab Collector<\/p>\n<p dir=\"rtl\"><a href=\"https:\/\/library.arabcollector.com\/\" target=\"_blank\" rel=\"noopener\" data-abc=\"true\">Arab Collector e-Library<\/a><\/p>\n<p dir=\"rtl\">For more similar topics, you can browse the Arab Collector website through <a href=\"https:\/\/arabcollector.com\/en\/bank-banknotes\/\" target=\"_blank\" rel=\"nofollow noopener\">the Link<\/a> the next:<\/p>\n<p><span class=\"uohWcFHYlVZNwGEqpJfx0mzv9SniA7OMk58jdrBLsXUgC2RPyTb13QeD46tIK\"><blockquote class=\"wp-embedded-content\" data-secret=\"G3w4p8PRxl\"><a href=\"https:\/\/arabcollector.com\/en\/bank-banknotes\/\">Bank banknotes<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u201cBanknotes\u201d \u2014 The Arab Collector\" src=\"https:\/\/arabcollector.com\/%d8%a3%d9%88%d8%b1%d8%a7%d9%82-%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d9%86%d9%82%d8%af%d9%8a%d8%a9\/embed\/#?secret=A65jV7VB7v#?secret=G3w4p8PRxl\" data-secret=\"G3w4p8PRxl\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>When was the first issue of Egyptian banknotes put into circulation? And were they actually in circulation from the moment they were issued? An introduction to the first issue of Egyptian banknotes: While reading the new volume of Engineer Magdi Hafiz&#039;s book, &quot;Encyclopedia and Catalog of Egyptian Currencies \u2013 Egyptian Banknotes,&quot; I came across Chapter Five, which details the circulation of the first issue of Egyptian banknotes, and which is considered\u2026<\/p>","protected":false},"author":1509,"featured_media":279578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wpupg_custom_link":[],"wpupg_custom_link_behaviour":[],"wpupg_custom_link_nofollow":[],"wpupg_custom_image":[],"wpupg_custom_image_id":[],"footnotes":""},"categories":[320],"tags":[322,309,1147,1150,1151,1148,1152,1149,323,304],"class_list":["post-276805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-paper-money","tag-banknote","tag-egypt","tag-egypt-banknote","tag-elwin-palmer","tag-lord-cromer","tag-1148","tag-1152","tag-1149","tag-323","tag-304"],"acf":[],"_links":{"self":[{"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/posts\/276805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/users\/1509"}],"replies":[{"embeddable":true,"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/comments?post=276805"}],"version-history":[{"count":0,"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/posts\/276805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/media\/279578"}],"wp:attachment":[{"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/media?parent=276805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/categories?post=276805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arabcollector.com\/en\/wp-json\/wp\/v2\/tags?post=276805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}