Two Greek Drachmai Half Banknotes,50 & 100 Drachmai With Folder & Story

Description

Two Greek Drachmai Half Banknotes,50 & 100 Drachmai With Folder & Story.
Half off!
These banknote halves are tangible proof of one of the more creative ways a sovereign nation has ever raised revenue. At the time, Greece was at war, and needed to fund the war effort.
As the uneasy state of the Greek economy continues to make headlines around the world, with the country teetering toward default, it’s worth noting that almost a century ago, Greece found itself in a similar financial pickle—and escaped in a brilliant fashion worthy of Socrates, Plato, and Aristotle. In March of 1922, mired in a war with Turkey, Greece found itself in a tight spot—caught, if you will, between the Scylla and Charybdis. Unable to raise funds in more conventional ways, and desperately in need of revenue for the war effort, the finance minister, Petros Protopapadakis, had a “eureka” moment. All drachma banknotes in Greece, he said, were to be cut in two. One half would remain in possession of the bearer, and be worth half as much; the other half would be surrendered to the state in exchange for a 20-year bond note. The state’s half, of course, went to the war effort. The bold move worked to perfection, adding revenue and not adversely impacting the overall economy—so much so that they tried the gambit again in 1926. Things did not end so happily for Protopapadakis, however. He was executed for treason in November of 1922, just nine months later, after the Greek defeat in Asia Minor.
The Notes: Greece P61, 100 drachmai │P80 (66), 50 drachmai These are two genuine Greek half-notes. The first, P-61, is the left half of a 100 drachmai note originally issued in 1905-17, and torn in half in 1922. The portrait is of the famed revolutionary Georgios Stavros, founder of the National Bank of Greece; on the back, the denomination is given as “100 francs.” The second, the 50 drachm ai P-80, is a subsequent issue; the word NEON on the front means new .
You may return anything you get from me for a complete refund including shipping both ways except on international orders.
Over 22,000 positive feedbacks
ANA
Platinum  Member # 3163853
On Jan-04-19 at 11:18:58 PST, seller added the following information: