10 Pesos

The Mindanao Emergency Currency Board was one of several provincial and municipal emergency currency authorities that sprang up across the Philippine islands after the Japanese occupation cut off normal banking channels. These notes were produced under guerrilla administration conditions — scarce materials, improvised presses, and real urgency — as a means of sustaining local commerce and, critically, paying guerrilla forces loyal to the Commonwealth government-in-exile.

Pacana, Saguin, and Barbasa signing together places this firmly within a specific administrative chain operating in Mindanao, where Filipino resistance remained organized enough to maintain rudimentary fiscal infrastructure through 1944. Liberation came to the island late — full American control wasn't secured until mid-1945 — so these notes were in active use longer than many comparable guerrilla issues elsewhere in the archipelago.