At the end of the 18th century, the first paper money appeared in the Netherlands Indies. The notes were issued by the Dutch East India Company (VOC) that represented the Dutch interests in the East. The Dutch East Indies, or Netherlands East Indies, (Dutch: Nederlands-India; Indonesian: Hindia-Belanda) was the Dutch colony that became modern Indonesia following World War II. It was formed from the nationalised colonies of the former Dutch East India Company that came under the administration of the Netherlands in 1800. During the 19th century, Dutch possessions and its hegemony were expanded, reaching their greatest extent in the early 20th century, defining the borders of modern-day Indonesia. The colony was based on rigid racial and social categorisations with a Dutch elite living separate from their native subjects.