The first banknotes of the Republic period were in the Ottoman Empire

The first banknotes of the Republic were printed in 1927, when the letter revolution was not yet realized. The inscriptions on the first banknotes were in Ottoman. However, the banknotes had French phrases on them. Turkey was first introduced paper money in 1840 during the reigns of Sultan. “Kaime-ı Nakdiye-ı Mutebere” was issued in the nature of an interest bearing debt or treasury bill rather than a paper money replacing money. These coins were not printed in the printing house, they were made by hand and each had an official seal. This led to the easy counterfeiting of paper money and created a distrust of paper money. In order to prevent counterfeit money, kaims began to be printed in printing houses since 1842 and were replaced with handmade ones. It continued to be used in 1927 until the first years of the Republic. The new preparation task of banknotes chaired by a representative of the Finance Acting Agriculture, Ottoman Dignity National, Business, with Akhisar tobacconist and Aksehir banks operating in Turkey was left to a commission formed of one representative from other banks. The commission headed by the Minister of Finance Abdülhalik Renda of the period decided to print banknotes consisting of denominations of 1, 5, 10, 50, 100, 500 and 1.000 lira, after a 9-month study. The printing job was given to Thomas De La Rue, a British company.  However, it took a long time to determine the figures of the banknotes to be printed and the printing of the banknotes was delayed until September 1927. Therefore, the first paper money to suppress the Republic of Turkey, but could enter into circulation on December 5, 1927. The documents in circulation began to be withdrawn from circulation on 4 December 1927 and were withdrawn on 4 September 1928.