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20 Pesos William Jones, Blue seal, Without rays
| Issuer | Philippine National Bank |
|---|---|
| Year | 1921 |
| Type | Standard circulation banknote |
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| Reverse description | Printed entirely in orange-gold tones, the reverse centres on the Philippine coat of arms within an elaborate scalloped guilloche border, itself surrounded by a wreath of tropical foliage and palm fronds. Denomination numerals "20" occupy all four corners, with vertical "TWENTY" inscriptions along each side panel. The issuer name and note designation are letterpress-printed along the lower margin. |
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| Signature(s) | S. Mercado and Ely Nillson |
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| Comments |
The Philippine National Bank was established in 1916 partly to break Filipino agriculture's dependence on foreign credit houses, and these early peso notes were a direct instrument of that policy — the PNB financed sugar and hemp crops in volumes no private bank had previously attempted. The blue seal variant without rays distinguishes it from earlier printings in the series; the ray and no-ray distinction within Pick 55 reflects successive design modifications at the BEP rather than any change in issuing authority or monetary function.
Nillson's signature as Treasurer is relatively short-lived in the series, making this signature combination one of the less common pairings.