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5 Pesos Philippines Islands, Treasury certificate
| Issuer | Treasury of the Philippine Islands |
|---|---|
| Year | 1929 |
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| Currency | Peso (1857-1967) |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse lettering | FIVE PESOS FIVE PESOS PHILIPPINE ISLANDS FIVE FIVE PESOS FIVE 5 |
| Signature(s) | Dwight F. Davis and A.P. Fitzsimmons |
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| Comments |
Treasury certificates were introduced in the Philippines in 1918 to replace the older silver certificates, backed initially by a peso-for-peso silver reserve held in Manila. By 1929, the Philippine economy was deeply enmeshed with the U.S. dollar system, and these notes circulated alongside American currency at a fixed two-to-one rate. Dwight F. Davis — whose signature appears here as Secretary of War — is better known as the donor of the Davis Cup tennis trophy, a biographical detail that still surprises collectors.
The BEP-produced plates gave the series a visual authority that local printing could not have matched, though all engraving costs were charged back to the insular government in Manila.