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| 正面铭文 | TEN PESOS Treasury Emergency Currency Certificate BY AUTHORITY OF THE PRESIDENT OF THE COMMONWEALTH OF THE PHILIPPINES This certifies that the Commonwealth Government of the Philippines will redeem this Certificate at face value upon termination of Emergency TEN PESOS MINDANAO EMERGENCY CURRENCY BOARD SERIES 1945 |
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| 背面铭文 | TEN PESOS ISSUED BY THE MINDANAO EMERGENCY CURRENCY BOARD PHILIPPINES TEN PESOS This note is redeemable at face value after the emergency and will not be devaluated or discriminated against Kining sapi-a kailisan sumala sa vyang bili tapus ang kagbut ug dili kakubsan ni kaayran Counterfeiting of this note will be severely punished Mabusrat nga silot ipahantang sa mga kawat peg sundog ning sapia 10 PESOS |
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The Mindanao Emergency Currency Board was one of several guerrilla-backed fiscal authorities operating in the Philippine provinces during the Japanese occupation. These boards were explicitly authorized — and in some cases supplied — through channels connected to MacArthur's forces and the Commonwealth government-in-exile, giving the notes a quasi-official status that pure guerrilla scrip lacked. Japanese forces treated possession of such notes as evidence of resistance activity, making circulation genuinely dangerous for ordinary Filipinos.
Three signatories on a single guerrilla note is unusual and likely reflects a deliberate accountability structure imposed to deter forgery from within.