5 Pesos

发行方	Philippine National Bank, Iloilo City
年份	1944
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面值	5 Pesos
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背面描述	The reverse is printed in rose on plain paper with a large guilloché numeral "5" at center within an ornate oval frame, flanked by decorative floral and geometric border elements. The inscriptions "Iloilo City" and "Philippines" appear to the left of the numeral, with the date "May 1, 1944" to the right. The lower margin carries the legend "Emergency Circulating Note of 1944" with small ornamental devices on either side, and FIVE PESOS in the bottom border.
背面铭文	PHILIPPINE NATIONAL BANK Iloilo City Philippines May 1 1944 Emergency Circulating Note of 1944 FIVE PESOS
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备注	The Philippine National Bank's wartime emergency notes, issued from regional branches rather than Manila, were a direct response to the Japanese occupation cutting off central banking functions. The Iloilo branch series was authorized under guerrilla government authority in the Visayas, where provincial officials maintained a fragile civilian administration outside Japanese control. These locally printed notes are notoriously crude by any production standard — the printing equipment available in Iloilo in 1944 was whatever could be sourced under occupation conditions. Ink bleed and misaligned impressions are the norm, not signs of damage.

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