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10 Pesos

Issuer Province of Cagayan
Year 1942
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Shape Rectangular
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Reverse lettering P 10.00 EMERGENCY TREASURY CERTIFICATE P 10.00 BY AUTHORITY OF THE PRESIDENT OF THE COMMONWEALTH AND THE PROVINCIAL BOARD OF CAGAYAN I HEREBY ORDER THE ISSUE OF THIS EMERGENCY CERTIFICATE WHICH FOR ALL INTENTS AND PURPOSES IS HEREBY DECLARED LEGAL TENDER FOR THE AMOUNT INDICATED IN SUM AND IN THE INTERNAL REVENUE STAMP ATTACHED ON THE LEFT HAND MARGIN OF THE FACE OF THIS CERTIFICATE WHICH IS DULY SIGNED BY THE GOVERNOR OF THE PROVINCE, AUDITOR AND PROVINCIAL TREASURER. THIS CERTIFICATE WILL BE REDEEMED BY THE GOVERNMENT OF THE PROVINCE OF CAGAYAN FROM ITS DEPOSIT OF P 500,000 IN THE TREASURY OF THE PHILIPPINES. REFUSAL TO ACCEPT THIS CERTIFICATE IS PUNISHABLE BY LAW. TEN PESOS
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Protection description A Philippine Islands Internal Revenue stamp affixed to the left margin of the obverse, bearing a serial number and the denomination of 10 Pesos, serving as an authenticating device.
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Comments

The wartime guerrilla and provincial emergency notes issued across the Philippines in 1942 were a direct consequence of the Japanese occupation disrupting the central banking system. Cagayan, in the far north of Luzon, was among the provincial governments that printed its own emergency currency to keep local commerce functioning — these notes circulated alongside whatever Philippine Commonwealth and Japanese Military Administration currency was available, in conditions of considerable uncertainty about which paper would ultimately be honored.

The Internal Revenue stamp used as a security feature was a practical improvisation rather than a designed element — pulling from existing government materials rather than purpose-made printing equipment.

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