Catalog
10 Pesos
| Issuer | Philippine National Bank, Bacolod Branch (Negros Occidental) |
|---|---|
| Year | 1941 |
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| Shape | Rectangular |
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| Obverse description | Horizontally oriented emergency circulating note with the heading PHILIPPINE NATIONAL BANK / EMERGENCY CIRCULATING NOTE OF 1941 at top center, above the bold intaglio-style legend THE PHILIPPINE NATIONAL BANK / WILL PAY THE BEARER ON DEMAND / TEN PESOS in large display lettering. The note bears the inscription LAWFUL CURRENCY OF THE PHILIPPINES and ISSUED BY AUTHORITY OF THE FICFICAR OF THE COMMONWEALTH OF THE PHILIPPINES, with NEGROS OCCIDENTAL CURRENCY COMMITTEE and City of Bacolod date stamp at lower right; the denomination numeral 10 appears in each corner, series designation SERIES OF 1941 at upper right, and three manuscript signatures with titles Prov. Fiscal Member, Adg. Mgr. PNB Bacolod Branch Chairman, and Actg. Prov. Auditor Member at bottom. |
|---|---|
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| Reverse lettering | TEN PESOS PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE Issued by authority of the President of the Commonwealth of the Philippines |
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| Comments |
Philippine National Bank's Bacolod branch issued this note under emergency wartime authority in late 1941, as Japanese forces advanced and the established banking system collapsed. Several provincial branches — Cebu, Iloilo, Negros Occidental among them — produced their own emergency currency when regular supply lines from Manila were cut. These provincial PNB issues were authorized locally rather than through the central office, printed on whatever materials were available, and circulated alongside guerrilla currency and Japanese military pesos in a badly fractured monetary environment.
Negros Occidental's sugar economy made Bacolod a significant regional hub, which likely drove demand for a functioning medium of exchange well beyond what barter could sustain.