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5 Pesos
| Issuer | Mindanao Emergency Currency Board |
|---|---|
| Year | 1944 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | FIVE PESOS Treasury Emergency Currency Certificate BY AUTHORITY OF THE PRESIDENT OF THE COMMONWEALTH OF THE PHILIPPINES This certifies that the Commonwealth Government of the Philippines will redeem this Certificate at face value upon termination of Emergency FIVE PESOS MINDANAO EMERGENCY CURRENCY BOARD T8 SERIES 1944 D. PALANA MEMBER FLORENTINO SAGON CHAIRMAN R. BARBASA MEMBER |
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| Signature(s) | D. Palana, Florentino Sagon and R. Barbasa |
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| Comments |
The Mindanao Emergency Currency Board was one of several provincial emergency authorities that issued guerrilla currency during the Japanese occupation of the Philippines. These notes functioned as a parallel economy — a deliberate act of administrative resistance, allowing civilian and military transactions to continue outside the puppet government's currency system. The Japanese military administration actively suppressed such issues, and possession of guerrilla notes carried real risk.
Mindanao's geography — mountainous interior, fragmented coastline — made it one of the more sustainable holdout zones, and its emergency currency accordingly saw genuine circulation rather than symbolic issue. The three-signature format, with Palana, Sagon, and Barbasa all signing, reflects the board structure common to these provincial authorities.