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200 Pesos

Issuer Province of Cagayan
Year 1942
Type Standard circulation banknote
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Obverse lettering EMERGENCY TREASURY CERTIFICATE THE COMMONWEALTH OF THE PHILIPPINES PROVINCE OF CAGAYAN TUAO, CAG. JAN. 1, 1942 THIS IS TO CERTIFY THAT THE ISSUANCE OF THIS EMERGENCY CERTIFICATE FOR THE AMOUNT OF TWO HUNDRED PESOS HAS BEEN DULY AUTHORIZED BY THE PRESIDENT OF THE PHILIPPINES AND THE PROVINCIAL BOARD OF CAGAYAN AND IS REDEEMABLE BY THIS PROVINCE AFTER THE WAR. For the Prov. Treasurer For the Prov. Auditor Provincial Governor TWO HUNDRED PESOS
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Protection type Internal Revenue Stamp
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Comments

The guerrilla and provincial emergency issues of the Philippine Commonwealth during the Japanese occupation (1942–1945) are among the most varied emergency currencies of the Pacific War. Cagayan Province, in the far north of Luzon, issued its own scrip as Japanese military currency rendered pre-war Philippine notes increasingly unreliable. P#S172 sits at the high end of the Cagayan denomination range, which itself signals how quickly inflation was eroding purchasing power even in 1942.

The internal revenue stamp used as a security device is a practical improvisation — provincial authorities had no access to specialized banknote security printing, so existing fiscal materials were pressed into service to discourage counterfeiting.

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