Since Thailand could not easily import banknotes from abroad when banknotes were first used in 1902 and could not order banknotes during the late part of WWII (1941-1945). Banknotes had to be printed by Royal Thai Survey Department or Naval Hydrographic Department, etc. which was not only inefficient but also resulted in low quality banknotes. The scarcity of banknotes had affected all economic sectors of the country during that period. The Bank of Thailand was authorised by the Thai Cabinet on September 5, 1961 to establish the Note Printing Works. The Note Printing Works offically commenced operation when H.M. King Rama 9 graciously presided over the inauguration ceremony on June 24, 1969. Commemorative banknotes of 5 Baht and 10 Baht were issued to mark this occasion.
After the establishment of Note Printing Works, Series 11 consisting of five denominations namely 5 Baht, 10 Baht, 20 Baht, 100 Baht and 500 Baht were printed here. They were issued from the lowest to the highest denomination starting in 1969. In 1975, 500 Baht banknotes were printed for the first time ever, and the issue of this note first enabled the Note Printing Works to manage the whole production process, including the designing and engraving.
In Nov 1971, Field Marshal Thanom Kittikachorn staged a military coup, dissolved Parliament and appointed himself Chairman of the National Executive Council, and served as a caretaker government from 18 Nov 1971 to 17 Dec 1972. No Finance Minister was appointed during this time and the 100 Baht banknotes of type 1 (which were issued in Oct 1972) were signed by Boonma Wongsawan who was the Permanent Secretary to Ministry of Finance. This is the only banknote of Thailand ever signed by a Permanent Secretary. Boonma Wongsawan later became a Finance Minister between 16 Oct 1973 and 29 May 1974 and signed 10, 20 and 100 Baht banknotes issued during this period. See all above checklists for signature details.
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