5 Pesos

The Philippine National Bank's Bacolod branch issued this note under emergency authority in late 1941 as Japanese forces advanced through the archipelago. Provincial branches throughout the Philippines were authorized to produce their own emergency currency when the central supply chain from Manila collapsed — Negros Occidental's notes are among the better-documented of these regional issues, partly because the sugar-producing province had real economic activity to sustain and a functioning branch infrastructure to back it.

The S-prefix in the Pick reference denotes the wartime emergency series. Many provincial PNB issues from this period were hastily overprinted or hand-signed by local branch managers whose authority to issue had never been tested before December 1941.