Certified / Graded Cargill Cotton $50 000 Pick 26 Zimbabwe 2004
Scarce Zimbabwe Cargill Cotton Bearer Cheque $50000 P-26
TYPE: Cargill Cotton Bearer Cheque / Inflation Money / Emergency
COMPANY: Standard Chartered and Cargill Cotton
Signatures: Priscilla P. Mutembwa Finance Director and Stephen J. Newton-Howes
Purpose: Issued issued due to a shortage of regular paper money
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Cargill Cotton cheques (bearer cheques) were honored by Standard Chartered Bank. This was the result of the acute cash shortage in Zimbabwe with Cargill Cotton instituting these fiscal emergency documents to pay the cotton farmers for their cotton produce. The Cargill Bearer cheques were the for runner of the Reserve Bank of Zimbabwe’s subsequently released bearer cheques to overcome a sluggish solution of the issue of locally valid traveler’s cheques; the latter requiring ID identification and a single-use only – bearer cheques overcame this predicament.
Standard Chartered series
The Standard Chartered series was a series of emergency bearer cheques issued by the Standard Chartered Bank (hence the title on the top of these cheques) and the Cargill Cotton Group. They were authorized by the Reserve Bank as legitimate issues and were valid for six months from the date of issue. This was the first currency notes of the Zimbabwean dollar to have a time limit. They carry the signature of the company’s finance director Priscilla Mutenbwa and operations director Stephen Newton-Howes.(Wikipedia).
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