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1 Peso
| Issuer | Philippine National Bank / Iloilo Currency Committee |
|---|---|
| Year | 1942 |
| Type | Local banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1942 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND ONE PESO IN LAWFUL CURRENCY OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE SERIES OF 1942 |
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| Reverse lettering | PHILIPPINE NATIONAL BANK ILOILO CITY PHILIPPINES DEC 30, 1942 ONE PESO EMERGENCY CIRCULATING NOTE 1942 |
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| Comments |
The Iloilo Currency Committee was one of several provincial emergency currency bodies that formed across the Philippine islands in late 1941 and early 1942, after the Japanese invasion severed normal banking operations and the supply of official Philippine Commonwealth currency dried up. These committees operated under improvised authority, issuing notes to keep local commerce functioning in the absence of any centrally managed monetary system.
The Philippine National Bank's name appears on this note not because the bank directed its production, but because PNB branch personnel were typically involved in the administrative machinery of these local committees. Actual printing was done with whatever materials were available in Iloilo at the time — quality and consistency vary considerably across the series.