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10 Pesos

Issuer Province of Cagayan
Year 1942
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Shape Rectangular
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Obverse lettering EMERGENCY TREASURY CERTIFICATE THE COMMONWEALTH OF THE PHILIPPINES PROVINCE OF CAGAYAN THIS IS TO CERTIFY THAT THE ISSUANCE OF THIS EMERGENCY CERTIFICATE FOR THE AMOUNT OF TEN PESOS HAS BEEN DULY AUTHORIZED BY THE PRESIDENT OF THE PHILIPPINES AND THE PROVINCIAL BOARD OF CAGAYAN AND IS REDEEMABLE BY THIS PROVINCE AFTER THE WAR.
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Protection description A Philippine Islands Internal Revenue stamp affixed to the left margin of the obverse, bearing a serial number and the denomination of 10 Pesos, serving as an authenticating device.
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Comments

The wartime guerrilla and provincial emergency notes issued across the Philippines in 1942 were a direct consequence of the Japanese occupation disrupting the central banking system. Cagayan, in the far north of Luzon, was among the provincial governments that printed its own emergency currency to keep local commerce functioning — these notes circulated alongside whatever Philippine Commonwealth and Japanese Military Administration currency was available, in conditions of considerable uncertainty about which paper would ultimately be honored.

The Internal Revenue stamp used as a security feature was a practical improvisation rather than a designed element — pulling from existing government materials rather than purpose-made printing equipment.

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