50 Centimes – Martinique

In 1897, Martinique, as a French colony, operated under the established franc currency system of metropolitan France. The official legal tender was the French franc, issued by the Banque de France, which had fully replaced older colonial and foreign currencies earlier in the century. This integration meant that Martinique's monetary policy was entirely directed from Paris, with no local issuing authority, firmly tying the island's economic fortunes to the financial decisions and stability of the mainland.

The local economy in 1897, heavily dependent on sugar cane and rum exports, experienced a currency environment that was stable in terms of exchange but could be restrictive. While the franc provided reliable parity for trade with France, the money supply was largely dictated by the needs of the metropole rather than the specific seasonal cycles of Caribbean agriculture. This sometimes led to liquidity constraints, particularly for planters and merchants who required capital for harvest and export operations. Consequently, commercial credit and banking relationships, often with branches of French banks, were crucial for facilitating day-to-day business beyond physical cash.

Despite this formal system, some practical complexities persisted. Alongside French coinage, it was not uncommon for older Spanish and Portuguese gold coins, or even British sovereigns, to circulate informally in port areas and commerce due to the island's historical and ongoing trade connections within the region. However, these were transacted at negotiated values relative to the franc. Thus, the currency situation in 1897 was one of formal colonial uniformity overlayering a more pragmatic, if minor, pluralism in actual circulation, all set against the backdrop of an agricultural export economy fully integrated into the French imperial market.