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| 正面描述 | Blue and multicolor Treasury Certificate with oval portrait vignettes of President William McKinley at left and Admiral George Dewey at right, framing the central text panel. The inscription reads 'THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES' above the large bold legend 'PHILIPPINES / FIVE PESOS', with the clause 'PAYABLE TO THE BEARER ON DEMAND / IN SILVER PESOS OR IN LEGAL TENDER CURRENCY OF THE UNITED STATES OF EQUIVALENT VALUE' below. A circular Commonwealth of the Philippines seal in red is positioned at center-right, with 'Manila, Philippines' at lower left and the serial number in red at upper right and lower left. |
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| 正面铭文 | TREASURY CERTIFICATE THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES FIVE PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN LEGAL TENDER CURRENCY OF THE UNITED STATES OF EQUIVALENT VALUE MANILA, PHILIPPINES SERIES OF 1941 MCKINLEY DEWEY |
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The Commonwealth-era Treasury Certificate series, of which this is a part, was authorized under the Philippine Commonwealth government ahead of what everyone in Manila understood was coming. The Japanese invasion in December 1941 cut the series short; large quantities of unissued notes were destroyed or hidden to prevent capture, and the Bureau of the Treasury reportedly burned stocks in the final chaotic days before the fall of Corregidor.
Notes that did circulate were frequently hoarded once the Japanese occupation peso was imposed. Survivors from this series tend to show either very heavy use or almost none at all — middling wear is the exception.