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| 正面描述 | Portrait vignette of General Douglas MacArthur at left within a decorative border, with the Philippine National Bank seal at right and ornamental guilloche framework surrounding the text field. The note bears three manuscript signatures below the principal legend, with a circular Iloilo City validation stamp at right. Repeated value tablets reading FIVE PESOS appear at the vertical margins. |
|---|---|
| 正面铭文 | FIVE PESOS PHILIPPINE NATIONAL BANK EMERGENCY CIRCULATING NOTE OF 1942 ISSUED BY AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES SERIES OF 1942 THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIVE PESOS IN LAWFUL CURRENCY OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE PROV. AUDITOR MEMBER ACTG. MGR. P.N.B. ILOILO CHAIRMAN PROV. FISCAL MEMBER MacArthur |
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The Iloilo Currency Committee was one of several provincial emergency currency bodies that sprang up across the Philippine islands in the wake of the Japanese invasion, when the retreating Commonwealth government and disrupted banking infrastructure left local economies starved of circulating money. The Philippine National Bank lent its name and authority to these provincial issues, but production was entirely local — improvised printing on whatever paper and equipment was available in Iloilo City at the time.
Notes from this series are frequently encountered with uneven inking and registration problems, not as damage but as manufactured conditions. The wartime guerrilla currency connection also means many survivors were hidden for months or years, affecting paper quality in characteristic ways — foxing and fold-set are common, brittleness less so.