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| 正面描述 | Portrait of President Manuel Quezon in an oval vignette at upper left, with large numeral '20' at both left and right margins. A circular red seal appears at right, alongside the serial number. Central text panel carries the Treasury Emergency Currency Certificate legend within decorative guilloche borders. Three manuscript signatures of board members appear across the lower portion of the note. |
|---|---|
| 正面铭文 | TWENTY PESOS TREASURY EMERGENCY CURRENCY CERTIFICATE BY AUTHORITY OF THE PRESIDENT OF THE COMMONWEALTH OF THE PHILIPPINES THIS CERTIFIES THAT THE PHILIPPINE GOVERNMENT WILL REDEEM THIS CERTIFICATE AT FACE VALUE UPON TERMINATION OF EMERGENCY TWENTY PESOS PAYABLE TO THE BEARER ON DEMAND IN LAWFUL CURRENCY OF THE PHILIPPINES MINDANAO EMERGENCY CURRENCY BOARD TWENTY PESOS TWENTY PESOS |
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The Mindanao Emergency Currency Board was one of several provincial bodies authorized to issue guerrilla currency following the Japanese occupation of the Philippines in 1942. These issues were a deliberate act of economic resistance — the intention was to keep a functioning peso system alive in areas outside Japanese control and to deny the occupiers a monetary vacuum they could fill with Military Pesos.
Mindanao's geography made sustained guerrilla activity more viable than elsewhere in the archipelago, and the Emergency Currency Board operated with at least tacit support from remaining USAFFE elements. Notes from this series are frequently found with significant wear or moisture damage, consistent with field use in tropical conditions.
Surviving examples in clean, unfolded condition are the exception rather than the rule for S474.