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The Malayan dollar ( Malay: ''ringgit'', Jawi: رڠڬيت) was the currency of the British colonies and protectorates in Malaya and
Brunei Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by th ...
until 1953. It was introduced in 1939, replacing the
Straits dollar The Straits dollar was the currency of the Straits Settlements from 1898 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Kingdom of Sarawak, Brunei, and British North Borneo. H ...
at par, with 1 dollar = two
shilling The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence ...
s four
pence A penny is a coin ( pennies) or a unit of currency (pl. pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. Presently, it is t ...
sterling (60 dollars = 7 pounds).


History


Board of Commissioners of Currency, Malaya formed

The Malayan dollar was issued by the Board of Commissioners of Currency, Malaya, with a hiatus during the Japanese occupation (1942–1945). The Board of Commissioners of Currency, Malaya, came into being in October 1938 following the Blackett Report which recommended that the sole power of issuing currency for the various
Malay States The monarchies of Malaysia refer to the constitutional monarchy system as practised in Malaysia. The political system of Malaysia is based on the Westminster parliamentary system in combination with features of a federation. Nine of the state ...
, including
Brunei Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by th ...
, and the
Straits Settlements The Straits Settlements were a group of British territories located in Southeast Asia. Headquartered in Singapore for more than a century, it was originally established in 1826 as part of the territories controlled by the British East India Com ...
should be entrusted to a pan-Malayan Currency Commission. Sir
Basil Phillott Blackett Sir Basil Phillott Blackett (8 January 1882 – 15 August 1935) was a British civil servant and expert on international finance. Biography Blackett was the eldest son of Rev. William Blackett, a missionary and educationalist in India and hi ...
was appointed in 1933 by the
Secretary of State for the Colonies The secretary of state for the colonies or colonial secretary was the British Cabinet minister in charge of managing the United Kingdom's various colonial dependencies. History The position was first created in 1768 to deal with the increas ...
to lead a commission to consider the participation of the various
Malay States The monarchies of Malaysia refer to the constitutional monarchy system as practised in Malaysia. The political system of Malaysia is based on the Westminster parliamentary system in combination with features of a federation. Nine of the state ...
, including
Brunei Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by th ...
, in the profits and liabilities of the
Straits Settlements The Straits Settlements were a group of British territories located in Southeast Asia. Headquartered in Singapore for more than a century, it was originally established in 1826 as part of the territories controlled by the British East India Com ...
currency. The Blackett Report was adopted by the Government of the
Straits Settlements The Straits Settlements were a group of British territories located in Southeast Asia. Headquartered in Singapore for more than a century, it was originally established in 1826 as part of the territories controlled by the British East India Com ...
, the
Federated Malay States )Under God's Protection , capital = Kuala Lumpur1 , religion = Islam , legislature = Federal Legislative Council , type_house1 = State level , common_languages = , title_leader = Monarch , leader1 ...
,
Unfederated Malay States The term Unfederated Malay States () was the collective name given to five British protected states in the Malay peninsula in the first half of the twentieth century. These states were Johor, Kedah, Kelantan, Perlis, and Terengganu. In contras ...
and
Brunei Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by th ...
. Legislation was enacted by the Straits Settlements Currency Ordinance (No. 23) of 1938, and ratified by the various states during 1939. The board started to issue currency in 1939. In 1952 the board was renamed the Board of Commissioners of Currency, Malaya and British Borneo. See
Malaya and British Borneo dollar The Malaya and British Borneo dollar ( ms, ringgit; ms, رڠڬيت, label= Jawi, script=arab, italic=unset) was the currency of Malaya, Singapore, Sarawak, North Borneo, Brunei and the Riau archipelago from 1953 to 1967 and was the successo ...
.


Currencies issued

Banknotes in denominations of 1, 5 and 10-dollar notes were printed in the UK for circulation in Malaya in 1940. However, out of 27,000,000 one dollar notes and 5,600,000 five-dollar notes of the same series despatched to Malaya before the Japanese invasion; 25,800,000 one dollar notes and 5,000,000 five-dollar notes arrived. Of the remainder, 700,000 one dollar notes and 500,000 five-dollar notes were lost when the SS ''Automedon'' was captured and then scuttled on 11 November 1940, by the German raider ''Atlantis'' in the Indian Ocean approach to the Malacca Straits; and further 500,000 one dollar notes and 100,000 five-dollar notes were lost when the carrying ship, the SS ''Eumanes'', was sunk. None of these notes were ever put into circulation by the Straits Settlements Government. Only the 10-dollar notes were issued for use in Malaya in March 1941.


Japanese Occupation

During the Japanese Occupation, the Japanese government-issue dollar replaced the Malayan dollar as legal tender. At the time of Japanese invasion, stocks of dollar notes were still held in treasury vaults in Singapore and
Penang Penang ( ms, Pulau Pinang, is a Malaysian state located on the northwest coast of Peninsular Malaysia, by the Malacca Strait. It has two parts: Penang Island, where the capital city, George Town, is located, and Seberang Perai on the M ...
. When Penang was evacuated in December 1941, 600,000 one-dollar notes and 100,000 five-dollar notes were abandoned in the treasury, where they fell into the hands of the Japanese. In Singapore, 4,200,000 one-dollar and 1,000,000 five-dollar notes were destroyed, and 21,000,000 one-dollar notes and 3,900,000 five-dollar notes shipped to
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
for safety. When British forces reoccupied Singapore in September 1945, they found all the abandoned notes of this series, except for a bundle of one thousand dollar notes captured in
Penang Penang ( ms, Pulau Pinang, is a Malaysian state located on the northwest coast of Peninsular Malaysia, by the Malacca Strait. It has two parts: Penang Island, where the capital city, George Town, is located, and Seberang Perai on the M ...
, in the vaults of the Japanese sub-treasury. Nevertheless, all stocks were destroyed in 1946, as it was feared that the notes from the captured ship might have been handed over by the Germans to their Japanese allies, and were being hoarded in bulk, ready to be passed into circulation when the notes became current. There is no evidence that these notes ever reaching Malaya. All the notes were signed by L. G. Corney, the chairman of the board of the Commissioners of Currency.


British Military Administration

British forces landed at
Penang Penang ( ms, Pulau Pinang, is a Malaysian state located on the northwest coast of Peninsular Malaysia, by the Malacca Strait. It has two parts: Penang Island, where the capital city, George Town, is located, and Seberang Perai on the M ...
on 3 September 1945 and at Singapore on 5 September 1945 and gradually reoccupied the whole Malaya. Until 1 April 1946, the country's finances were administrated by the department of the Controller of Finance and Accounts of the Army Pay Corps, and currency was put into circulation against payment in sterling by the
War Office The War Office was a department of the British Government responsible for the administration of the British Army between 1857 and 1964, when its functions were transferred to the new Ministry of Defence (MoD). This article contains text from ...
to the account of the Board of Commissioners of Currency, Malaya. It was decided that no value whatever should be accorded the Japanese
banana money The Japanese government-issued dollar was a form of currency issued for use within the Imperial Japan-occupied territories of Singapore, Malaya, North Borneo, Sarawak and Brunei between 1942 and 1945. The currency was also referred to informa ...
then in circulation, as it had been estimated that during the three and a half years occupation the Japanese had issued a minimum of 4,000 million dollars' worth of currency against a normal 1941 circulation of about 220 million (Donnison p. 223). The pay service made available currency notes from 1 cent to 10,000 dollars which had been printed in Britain either before, or during, the occupation but had not previously been sent to Malaya. In addition, the 1940 ten-dollar note issued by the Board of Commissioners of Currency Malaya and the old
Straits Settlements The Straits Settlements were a group of British territories located in Southeast Asia. Headquartered in Singapore for more than a century, it was originally established in 1826 as part of the territories controlled by the British East India Com ...
notes, with the exception of denominations of 1,000 or 10,000 dollars and 10 and 25 cents, were declared a legal tender. These old notes were gradually withdrawn, however, as the new issue became adequate for the country's needs. The notes of this series from 1 cent to 10 dollars were dated 1 July 1941, those of 50, 100 and 1,000 dollars 1 January 1942, while the 10,000-dollar notes were signed and dated on the day of their issue. The chairman of the Currency Board was H. Weisberg. The emergency issues of 10 cents with
King George VI George VI (Albert Frederick Arthur George; 14 December 1895 – 6 February 1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until his death in 1952. He was also the last Emperor of In ...
as the portrait was issued on 15 August 1940, designed and printed by the
Survey Department Survey may refer to: Statistics and human research * Statistical survey, a method for collecting quantitative information about items in a population * Survey (human research), including opinion polls Spatial measurement * Surveying, the techni ...
(F.M.S.) in Kuala Lumpur with the controlled serial number. On 1 September 1940, also an emergency issues of 25 cents was designed and printed by the
Survey Department Survey may refer to: Statistics and human research * Statistical survey, a method for collecting quantitative information about items in a population * Survey (human research), including opinion polls Spatial measurement * Surveying, the techni ...
with
King George VI George VI (Albert Frederick Arthur George; 14 December 1895 – 6 February 1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until his death in 1952. He was also the last Emperor of In ...
as the portrait. On 1 July 1941, a set of new regular issues, with the denomination of 1, 5, 10, 20 and 50 cents was printed by Thomas de la Rue & Co. Ltd., London with the portrait of
King George VI George VI (Albert Frederick Arthur George; 14 December 1895 – 6 February 1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until his death in 1952. He was also the last Emperor of In ...
. Also on the same date of 1 July 1941, the 1, 5 and 10-dollar notes were engraved and printed by Waterlow & Sons Ltd., London, and the higher denomination of 50, 100, 1000 and 10,000-dollar notes were printed by Bradbury, Wilkinson & Co. Ltd., Surrey, London.


Civil Administration

Civil administration was restored on 1 April 1946 and from the same date the Board of Commissioners of Currency Malaya was reconstituted by the authority or Ordinance No.4 of 1946 in Singapore and Ordinance No.5 of 1946 in the
Malayan Union The Malayan Union was a union of the Malay states and the Straits Settlements of Penang and Malacca. It was the successor to British Malaya and was conceived to unify the Malay Peninsula under a single government to simplify administration. ...
. The Board continued to operate in the same way as before the Japanese occupation. All notes bearing dates prior to 1 July 1941, were de-monetised on 31 August 1948.


Coins

Coins were issued between 1939 and 1950 in denominations of square shaped and 1 cent in bronze, and round 5, 10 and 20 cents (silver until 1945, and cupro-nickel from 1948). These all had the same designs and appearance of previous Straits Settlements coinage, which they replaced. The 1 cent coins were reduced in size in 1943 due to cost and wartime materials shortages while the cents were discontinued after 1940, even though they continued to be legal tender. All coins of this series depict
King George VI George VI (Albert Frederick Arthur George; 14 December 1895 – 6 February 1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until his death in 1952. He was also the last Emperor of In ...
. Older Straits coinage also continued to circulate alongside though silver pieces of both types quickly began to disappear.


Banknotes

Banknotes in denominations of 1, 5 and 10-dollar were printed in the UK for circulation in Malaya in 1940. However, because a shipload of 1 and 5-dollar notes were captured by German forces, only the 10 dollars were issued (see
History History (derived ) is the systematic study and the documentation of the human activity. The time period of event before the invention of writing systems is considered prehistory. "History" is an umbrella term comprising past events as well ...
section above). Because of the war in Europe, the Survey Department printed 10 and 25 cents for circulation. These were replaced in 1941 by notes printed by
Thomas de la Rue Thomas de la Rue (24 March 1793 – 7 June 1866) was a printer from Guernsey who founded De La Rue plc, a printing company which is now the world's largest commercial security printer and papermaker. Biography Born on Le Bourg, Forest, Guernsey to ...
in denominations of 1, 5, 10, 20 and 50 cents. When the British regained control of Malaya after World War II, notes were issued in 1945 (dated 1941), in denominations of 1, 5, 10, 50, 100, 1,000 and 10,000 dollars.


See also

*
British North Borneo dollar The British North Borneo dollar was the currency of British North Borneo from 1882 to 1953. It was subdivided into 100 ''cents''. The dollar had remained at par with the Straits dollar (and its successor the Malayan dollar), the currency of Mal ...
*
Malaya and British Borneo dollar The Malaya and British Borneo dollar ( ms, ringgit; ms, رڠڬيت, label= Jawi, script=arab, italic=unset) was the currency of Malaya, Singapore, Sarawak, North Borneo, Brunei and the Riau archipelago from 1953 to 1967 and was the successo ...
*
Sarawak dollar The dollar was the currency of the Raj of Sarawak from 1858 to 1953. It was subdivided into 100 ''cents''. The dollar remained at par with the Straits dollar and its successor the Malayan dollar, the currency of Malaya and Singapore, from its ...
*
Straits dollar The Straits dollar was the currency of the Straits Settlements from 1898 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Kingdom of Sarawak, Brunei, and British North Borneo. H ...


References


Further reading

* *


External links

{{dollar, state=collapsed Dollar 1939 establishments in British Malaya 1953 disestablishments Currencies of the British Empire Modern obsolete currencies Obsolete currencies in Malaysian history British Malaya British rule in Singapore Currencies of Brunei Currencies of Malaysia Currencies of Singapore Federated Malay States