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| 正面描述 | Black letterpress printing on cream paper, with a decorative border of repetitive ornamental devices enclosing a largely plain central field. The denomination "CINCO PESOS $5$" appears in large bold type at center right, below the issuer title "REPÚBLICA FILIPINA" and the legend "PAPEL MONEDA DE" in italic script. The law dates "Ley 30 Noviembre 1898 – 21 Abril 1899" are inscribed below, accompanied by a manuscript signature of El Delegado del Gobierno; serial numbers are printed in red at top, left margin, and bottom. |
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| 正面铭文 | REPÚBLICA FILIPINA PAPEL MONEDA DE CINCO PESOS $5$ Ley 30 Noviembre 1898. - 21 Abril 1899. El Delegado del Gobierno, 5 PESOS Emisión de cinco pesos Série Núm. (Translation: Republic of the Philippines / Paper currency / of / Five Pesos $5$ / Law 30 November 1898 – 21 April 1899 / The Government Delegate / 5 Pesos / Emission of five pesos / Series / Number) |
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The República Filipina — the short-lived Malolos Republic under Emilio Aguinaldo — issued these notes during the Philippine-American War, when the revolutionary government was already losing ground militarily. Pedro A. Paterno, who signed as El Delegado del Gobierno, was the same man who had brokered the Pact of Biak-na-Bato in 1897, the agreement by which Aguinaldo accepted exile to Hong Kong. His return to prominence as a signatory on government paper reflects how quickly alliances shifted in that period.
Two decree dates appear on the note — November 30, 1898, and April 24, 1899 — because the second law amended and authorized the physical emission of currency already legislated by the first. The Malolos Republic's entire paper currency program was brief; American military advances effectively ended the functioning government by mid-1899.