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| 正面描述 | Printed in red-brown letterpress on plain paper, the obverse carries the issuing authority's name in bold type at centre, with the arched legend "WILL PAY THE BEARER ON DEMAND" beneath it. The denomination TEN PESOS is set in large gothic lettering across the mid-field, flanked by numeral 10 cornerpieces, above the bilingual authority legend citing presidential issue and lawful Philippine currency. Multiple manuscript signatures of the Iloilo Currency Committee members appear along the lower margin, with series designation and serial number in red at the lateral margins. |
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| 正面铭文 | PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1941 WILL PAY THE BEARER ON DEMAND TEN PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE SERIES OF 1941 |
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The Philippine National Bank operated regional emergency currency programs through its provincial branches in the months following the Japanese invasion of December 1941. The Iloilo Branch issues are among the more regionally distinct emergency notes of the Pacific War period — produced locally as the Manila-based banking system collapsed under occupation and the PNB's central operations were effectively severed from the provinces.
Pick S308 is a guerrilla-era provincial issue, printed under duress with whatever materials were available in Iloilo City. Paper quality and ink consistency vary considerably across surviving examples, a direct consequence of wartime supply conditions rather than manufacturing negligence.