British North Borneo (the name for Sabah when under British rule)

The sourcs of this information are from the book " Malaysia Brunei & Singapore banknotes & coins 7th Edition 2014 by KN Boon "

In 1865, the United States Consul to Brunei, Claude Lee Moses obtained a 10-year lease for the territory of North Borneo from the Sultan of Brunei. However, the post-Civil War United States wanted nothing to do with Asian colonies, so Moses sold his rights to the Hong Kong-based America Trading Company owned by Joseph W. Torry, Thomas B. Harris, and some Chinese merchant. Torrey began a settlement at the Kimanis River mouth, which he named 'Ellena'. Attempt to find financial backing for the settlement was futile, and disease, death and desertion by the immigrant labours led to the abandonment of the settlement towards the end of 1866.

With the imminent termination of the land lease in January 1875, Torrey manages to sell his right to Baron Von Overbeck, Consul of the Austro-Hungarian Empire in Hong Kong. Von Overbeck manages to get a 10-years renewal of the land lease from the Temenggong of Brunei, and a similar treaty from the Sultan of Sulu on January 22, 1878. To finance his plans for North Borneo, he found financial backing from the Dent brothers (Alfred and Edward). However, he was unable to interest his government on the territory. He withdrew in 1880, leaving Alfred Dent in control.

In July 1881, Alfred Dent and his brother formed the British North Borneo Provisional Association Limited and obtained the official Royal Charter on November 1, the same year. In May 1882, the British North Borneo Chartered Company replaced the Provisional Association. Sir Rutherford Alcock became the first President, and Alfred Dent became the Managing Director. In spite of some diplomatic protest by the Dutch, Spanish and Sarawak government, the British North Borneo Company proceeded to organize settlement and administration of the territory. The company subsequently acquired further sovereign and territorial right from the Sultan of Brunei, expanding the territory to the Putatan river(May 1884), the Padas district (November 1884), the Kawang river(February 1885), the Mantanani island(April 1885), and the minor Padas territories (March 1898).

The company established a foundation for economic growth in North Borneo by restoring peace where piracy and tribal feuds were rampant, It abolished slavery and set up transport, health, and education services for the people. Chinese immigrants were wooed to boost the small population of less than 100,000. Programmers were made through the combined effort of the locals and immigrants. Soon towns, farms, timber industry, tobacco, and rubber plantations began to thrive.

In 1888, North Borneo became a protectorate of Great Britain, but it's administration remain entirely in the hands of the British North Borneo Company, with the crown reserving the control of foreign relations. The Company's rule in North Borneo had a great impact on the development of the region. Although development was generally peaceful, the local population occasionally resented the imposition of taxes and the loss of land to European plantations. The most serious resistance came from Mat Salleh(Mahomet Saleh) from 1894-1900.

The British North Borneo Company effectively ruled until January 1, 1942. Japanese forces occupied Sabah from 1942-1945. The North Borneo Armed Constabulary with only 650 men hardly provided any resistance to slow down the Japanese invasion. During Japanese military occupation, the Europeans were interned, public services ceased to exist and there was widespread poverty, disease and malnutrition. In June 1945 the 9th Australian Division landed in Brunei and liberated much of North Borneo before the end of the war. North Borneo was placed under the British Military Administration until the restoration of civil government on July 15, 1946.

The British North Borneo Company did not have the financial resources to reconstruct North Borneo after the destruction of World War 2. The Major town had been razed to the ground by Allied bombing, and the infrastructure of North Borneo was in total devastation. The British North Borneo Company decided to sell its interests to the British Government. The territory was placed under the control of the colonial office and became a British Crown Colony on July 15, 1946. British North Borneo was granted self=government on 31 August 1963. Two weeks later, on 16 September 1963, it became a state of Malaysia together with Malaya, Sarawak and Singapore.

Shortly after the British North Borneo Company was chartered in 1881, the company adopted the monetary units of straits settlement, and later, the silver Dollars from the straits settlement were declared as the legal tender, up to limits of Ten Dollars. The Chartered Company launched copper coin of 1, 2.5 and 5 cents, and later in between 1903 to 1904, issued the Cupro Nickel of the same face value. In 1929, the 25 cent silver coin was minted. These coins continued till 1941, and were minted by Ralph and Sons Limited (In 1879 the mint changed the name to The Mint Birmingham Limited). Thus different limit existed for Copper, Cupro Nickel, and Silver coinage