The first multicoloured banknote was put into circulation in 1910. After 15 years of research to perfect a printing technique capable of reproducing a four-colour design, banknotes became veritable works of art. The shift marked the advent of a “French school of banknote design”, where aesthetic considerations were skillfully combined with a desire to prevent counterfeiting.
For its first multicoloured banknote, the Banque de France called on the artist Luc-Olivier Merson, who gave his name to the 1906-type 100-franc note: the “Four colours – Luc-Olivier Merson”.
Set within a blue and gold frame bearing the Banque de France’s cartouche, two allegories surround a central stele inscribed with the banknote’s value. On the left, Agriculture stands in front of a tree laden with fruit and is accompanied by a child leading a sheep. On the right, Commerce stands behind a child carrying a bundle of goods for shipment.
The reverse side features an allegory of Labour and Fortune, a new interpretation of the Banque de France's motto.
Designed in the Academic style that was still characteristic of the early 20th century, the allegories have lost their hieratic nature and become more and more human. This was also a response to the increasingly widespread use of banknotes: by depicting a peasant woman and labourer, the message was understandable to all, whereas the ancient allegories were reserved for the elite.
The denomination represented a genuine revolution in “banknote art” and was heavily criticised on its release. However, it remained in circulation until 1945.
Updated on the 29th of August 2025