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5 Pesos Philippines Islands, Treasury certificate
| Issuer | Treasury of the Philippine Islands |
|---|---|
| Year | 1929 |
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| Currency | Peso (1857-1967) |
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|---|---|
| Obverse lettering | TREASURY CERTIFICATE BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922 THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINE ISLANDS FIVE PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN GOLD COIN OF THE UNITED STATES OF EQUIVALENT VALUE MANILA PHILIPPINE ISLANDS MCKINLEY DEWEY GOVERNOR GENERAL TREASURER SERIES OF 1929 |
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| Signature(s) | Dwight F. Davis and A.P. Fitzsimmons |
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| Comments |
Treasury certificates were introduced in the Philippines in 1918 to replace the older silver certificates, backed initially by a peso-for-peso silver reserve held in Manila. By 1929, the Philippine economy was deeply enmeshed with the U.S. dollar system, and these notes circulated alongside American currency at a fixed two-to-one rate. Dwight F. Davis — whose signature appears here as Secretary of War — is better known as the donor of the Davis Cup tennis trophy, a biographical detail that still surprises collectors.
The BEP-produced plates gave the series a visual authority that local printing could not have matched, though all engraving costs were charged back to the insular government in Manila.