Catalog
1 Peso
| Issuer | Philippine National Bank, Lanao Agency |
|---|---|
| Year | 1942 |
| Type | Log in to see details |
| Value | 1 Peso |
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|---|---|
| Obverse lettering | PE 1 SO THE LANAO AGENCY OF THE PHILIPPINE NATIONAL BANK WILL PAY TO THE BEARER ON DEMAND THE AMOUNT OF THIS PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF ONE PESO SERIES OF 1942 ISSUED BY LANAO CURRENCY COMMITTEE PROV'L. TREASURER CHAIRMAN ACT-G. PROV'L. FISCAL MEMBER PROV'L. AUDITOR MEMBER |
| Reverse description | Plain letterpress reverse printed in black, enclosed within a simple decorative border composed of repeated leaf and dash ornamental units running along all four sides. The centre carries the denomination «ONE PESO» in large bold type, followed by «Philippine National Bank Emergency Circulating Note» and «Series of 1942», with «ONE PESO» repeated below in the same bold lettering. |
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| Comments |
The Philippine National Bank's wartime emergency branches are among the more obscure chapters in Philippine monetary history. When Japanese forces invaded in late 1941 and early 1942, the Commonwealth government authorized provincial and regional agencies to issue their own emergency currency to keep local economies functioning as the central banking network collapsed. Lanao, a predominantly Maranao Muslim province in Mindanao, was among the agencies that acted on this authority.
S377 is a guerrilla-period issue, produced under severe material and logistical constraints. Survival rates for Lanao Agency notes are low — the province saw prolonged and difficult fighting throughout the occupation.