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| 正面描述 | Intaglio-printed in black on pale underprint, with an oval portrait vignette of José Rizal at left, his name inscribed below in small lettering, flanked by decorative guilloche scrollwork and corner numeral "2" tablets. The large bold legend "PHILIPPINES" arches across the upper centre above "TWO PESOS" in heavy block lettering, with the payability clause in smaller text below. At right, a large red circular seal inscribed "COMMONWEALTH OF THE PHILIPPINES / UNITED STATES OF AMERICA" with "Manila, Philippines" in script at centre, accompanied by two manuscript signatures of the President and Treasurer below. |
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| 背面铭文 | TWO PESOS TWO PESOS PHILIPPINES TWO PESOS 2 |
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The Treasury Certificate series was introduced under the Commonwealth of the Philippines, established in 1935 as the transitional government preceding full independence. These notes replaced the earlier Silver Certificate issues and were backed by a peso-for-peso silver reserve held in Manila — a requirement written into the 1903 Coinage Act framework that the Commonwealth inherited and maintained.
The Bureau of Engraving and Printing in Washington produced the full series, a arrangement that would be abruptly interrupted when Japanese forces occupied Manila in January 1942 and remaining stocks were either destroyed or captured.