10 Pesos

Thomas De La Rue held the Philippine contract through most of this period, printing successive signature combinations for the same basic design as governors and treasurers rotated through office. P#136 encompasses a wide span of signatories — collectors typically pursue specific combinations, since some pairings had dramatically shorter print runs than others.

The Central Bank itself was only established in 1949, making this series among its earliest sustained note issues. By the mid-1960s, Filipino economic nationalism was generating real political pressure to localize currency production, a tension that would eventually push printing to the Security Printing Plant in Manila by the following decade.