Chapter 3

PREPARING FOR THE INTRODUCTION
OF THE NEW CURRENCY

          The preparations for the introduction of the new currency began in 1926, and were carried out in two stages:

  • establishment of the Palestine Currency Board, through the appointment of members by the Secretary of State for the Colonies, setting up of orders to create a formal, legal context for work, and definition of responsibilities, goals and objectives;
     
  • preparation of the Board for the actual issue of the new currency, together with preparations in the banking system and the public in Palestine; and legalising the use of the new currency in Trans-Jordan.

The official stamp of the Palestine Currency Board was actually a drawing of the royal arms with an inscription of the Board’s title.

It was usual for a body of this nature to use the royal arms in conjunction with its own title; it can also be found in other currency boards.

The official stamp was printed or embossed as headed notepaper and probably also produced as a rubber stamp, to give its correspondence and documents a distinctive and official appearance.

Between 13-15 October, the government published announcements in the post offices around the country depicting for the first time the currency notes and the coins, with a notice specifying the values, sizes and colours.
(Size 498x549 mm).


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