Catalog
10 Pesos Treasury certificate, Blue seal
| Issuer | Treasury of the Philippine Islands |
|---|---|
| Year | 1924 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | TEN PESOS TEN PESOS BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922 THIS CERTIFIES THAT THERE HAS BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINE ISLANDS TEN PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER OR IN GOLD COIN OF THE UNITED STATES OR EQUIVALENT VALUE TREASURY CERTIFICATE TREASURY CERTIFICATE |
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| Reverse lettering | TREASURY CERTIFICATE TEN PESOS TEN PESOS PHILIPPINE ISLANDS TEN PESOS 10 X |
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| Comments |
Treasury certificates were the backbone of Philippine day-to-day commerce under American administration, replacing the earlier Silver Certificate series and backed by a peso-for-peso reserve held in Manila. The 1924 date places this note squarely in the relative monetary stability of the Leonard Wood governorship, before the Depression-era pressures forced significant policy changes in the early 1930s.
The blue seal distinguishes this from the red-seal issues of the same series. Bureau of Engraving and Printing production meant consistent intaglio quality, and notes from this series are frequently found with faded or toned paper — the Philippine climate was unforgiving to paper currency in active circulation.