1 Peso Emergency Script of the Philippines

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正面铭文	ONE PESO EMERGENCY SCRIPT OF THE PHILIPPINES ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES TO MEET PRESCRIBED BUDGET ONE PESO
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背面铭文	ONE PESO THIS CERTIFIES THAT ONE PESO WILL BE PAYABLE TO THE BEARER ON DEMAND IN SILVER CURRENCY OR IN LEGAL TENDER CURRENCY OF THE UNITED STATES OF EQUIVALENT VALUE ONE PESO SERIAL NO. SERIES
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备注	Apayao's wartime scrip was authorized under the Philippine Commonwealth's emergency currency program, which allowed provincial and municipal governments to issue their own notes after Japanese forces disrupted the established banking system following the December 1941 invasion. Apayao was among the more remote issuers — a sub-province of Cagayan in the mountainous Cordillera region — and its notes circulated within a guerrilla-controlled economy largely cut off from Japanese-occupied lowland supply lines. Survival rates for Apayao scrip are low even by Philippine emergency issue standards, partly due to the region's humidity and the thin, often locally sourced paper used. Pick S124 is one of the scarcer sub-provincial entries in the Philippine emergency series.

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