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1 Peso
| Issuer | Province of Ilocos Norte, Emergency Treasury |
|---|---|
| Year | 1942 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | EMERGENCY TREASURY CERTIFICATE THE COMMONWEALTH OF THE PHILIPPINES PROVINCE OF ILOCOS NORTE Ilocos Norte, April 15, 1942 THIS IS TO CERTIFY THAT THE ISSUANCE of this emergency certificate for the amount of ONE PESOS has been duly authorized by the President of the Philippines and the Provincial Board of Ilocos Norte and is redeemed after the war. (THIRD SERIES) Prov. Treas. Prov. Auditor Provincial Board ONE PESO |
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| Reverse lettering | EMERGENCY TREASURY CERTIFICATE No. By authority of the President of the Commonwealth of the Philippines and the Provincial Board of Ilocos Norte, I hereby order the issuance of this emergency certificates which for all intents and purposes is hereby declared legal tender. This certificate will be redeemed by the Province from its deposit of P500,000 in the Treasury of the Philippines. Refusal to accept this certificate is punishable by law. (THIRD SERIES) Governor REGISTERED |
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| Comments |
One of dozens of guerrilla and provincial emergency currencies issued across the Philippine archipelago during the Japanese occupation, this Ilocos Norte peso was produced locally under wartime conditions after the Japanese military administration introduced its own occupation currency — the so-called "Mickey Mouse money" — which Filipinos widely distrusted and refused to use at par. Provincial treasuries across Luzon filled the gap with their own notes, backed by nothing more than local government authority and whatever printing equipment hadn't been destroyed or seized.
Ilocos Norte, in the far northwest of Luzon, remained a contested zone. Notes from this treasury were practical instruments of resistance-era commerce, not formal banking documents. Paper quality and printing consistency vary considerably across surviving examples, a direct consequence of wartime supply constraints rather than carelessness.