Amidst the complex and turbulent historical context of twentieth century Vietnam, currency design played a crucial role in conveying cultural, historical, and national messages. Behind these designs were great efforts to harmonise art and historical awareness, producing currency notes that symbolised independence, resistance, and nation-building. Since the establishment of the Democratic Republic of Vietnam, the history of currency in our country has undergone many improvements, clearly reflected in six series of banknotes. The first series was issued prior to the formation of the State Bank of Vietnam and is thus referred to as the financial series, used from 1946 to 1951. This article focuses on an overview of three different versions of financial series of banknotes of the Democratic Republic of Vietnam, highlighting the role of the artists in depicting the nation’s image during a challenging historical period.

On 2 September 1945, President Ho Chi Minh read the Declaration of Independence, establishing the Democratic Republic of Vietnam at the historic Ba Dinh Square. Shortly after, in October, the provisional government of the Democratic Republic of Vietnam and President Ho Chi Minh entrusted Finance Minister Pham Van Dong with the task of printing and issuing Vietnamese banknotes. At that time, due to the significant financial needs of the revolution and the limited supply of Indochinese currency in the former National Treasury Department, Pham Van Dong urgently formed a group of individuals, mostly young artists who had graduated from the Indochina School of Fine Arts, along with employees from the former Cartography and Architecture Departments, to undertake a secret mission: designing banknotes for Vietnam.

The first series of the initial financial banknotes was issued by the Ministry of Finance on 31 January 1946, in Quang Ngai, after approximately four months of preparation. This series included financial notes, Southern Vietnam notes, and Central Vietnam bonds, with denominations of 1 dong, 5 dong, 20 dong, 50 dong, and 100 dong. The group of artists and individuals responsible for the design at that time included Nguyen Do Cung, Mai Van Hien, Le Pha, Nguyen Sang, Nguyen Huyen, Luong Van Tuat, and Bui Trang Chuoc etc. Those artists worked in a corridor adjacent to Pham Van Dong’s office at the Treasury Department. Each artist sketched a design, which, upon approval, would be finalised. This work required meticulous precision on small scales from about 5×10 cm to 8×15 cm.

Throughout the nation’s ups and downs, the currency designs from this period were decorated on both sides. The front featured a direct portrait of President Ho Chi Minh, based on a photograph taken at Hong Thai Communal House in Tan Trao, Tuyen Quang province, where the Party’s National Congress was held in August 1945, as well as the national title “Democratic Republic of Vietnam”. The reverse emphasised three key themes: fighting hunger, illiteracy, and foreign invaders, mainly depicted through images of workers, farmers, and soldiers. Thus, Vietnamese banknotes at the time served not just as a medium of transaction, but also a means of political propaganda. An example is the 100 dong banknote, the highest denomination of the first financial series, designed by artist Nguyen Huyen. This denomination was printed by the Ministry of Finance at Chi Ne, Lac Thuy District, Hoa Binh Province. On the front, artist Nguyen Huyen depicted President Ho Chi Minh’s portrait at the centre, framed by images of rice stalks, with a warm family scene on the left and people enthusiastically working on the right. Additionally, the border decorations were carefully arranged by artist Nguyen Van Tuat, featuring motifs of twin dragons. On the back, Nguyen Huyen illustrated a blue buffalo alongside hard working farmers, symbolising the efforts to eradicate hunger through increased production. The 100 dong note, as a whole, is a detailed portrayal of life, reflecting the simplicity, resilience, and industrious spirit of Vietnamese people.

After the first financial series, two more were issued before the State Bank was established in 1951. The second included denominations of 20 xu, 50 xu, 5 dong, 10 dong, 50 dong, and 100 dong. The third series included 20 dong, 100 dong, 200 dong, and 500 dong. These were the first two series of paper currency printed at Khanh Thi Printing House (Chiem Hoa, Tuyen Quang) in 1947, along with several other locations in Viet Bac after French forces bombed Chi Ne on 22 February 1947, causing some damage to the money printing operations. Artists Le Pha and Nguyen Sang played leading roles in the design of these series.

Compared to the first series, the second and third underwent certain changes. The front design depicted a portrait of the leader, Ho Chi Minh, with a diagonal gaze to the left. His portrait was mostly positioned on the right or in the centre. Only two notes, the 50 dong note from the second financial series and the 20 dong note from the third, featured Ho Chi Minh’s portrait on the left side of the front. The reverse side of these notes depicted scenes of labour and resistance, with images of Vietnamese people, soldiers, guerrillas, and national defence forces appearing strong and determined. Overall, the design of banknotes during this period conveyed a spirit of motivation both in building the nation and in the fight for independence. 

“Overall, the design of banknotes during this period conveyed a spirit of motivation both in building the nation and in the fight for independence.”

On 6 May 1951, President Ho Chi Minh signed decree No 15-SL, establishing the State Bank of Vietnam and issuing new currency to stabilise the monetary system. As a result, three versions of the financial series were recalled from 1 June 1951 to 1 December 1952 in exchange for the new series. Although those three series were no longer in circulation afterward, they still embodied the spirit and sentiments of the entire nation during the long, arduous struggle against French colonial forces. Through every stroke, the artists imbued these notes with faith and hope for a brighter future where people could live in peace and prosperity. Each banknote remains a heroic memory for the country, a reminder of resilience, patriotism, and unity during the nation’s early days of independence.

Words: Tâm Phạm
Translation: Tâm Phạm