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| 正面铭文 | EMERGENCY CIRCULATING NOTE OF 1941 THE PHILIPPINE NATIONAL BANK WILL PAY THE BEARER ON DEMAND FIFTY CENTAVOS IN LAWFUL CURRENCY OF THE PHILIPPINES ILOILO CURRENCY COMMITTEE PROV. AUDITOR MANAGER PNB ILOILO PROVINCIAL FISCAL |
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| 背面铭文 | PHILIPPINE NATIONAL BANK FIFTY CENTAVOS EMERGENCY CIRCULATING NOTE OF 1941 ISSUED BY THE ILOILO CURRENCY COMMITTEE UPON THE AUTHORITY OF THE PRESIDENT OF THE PHILIPPINES ILOILO CITY PHILIPPINES DECEMBER 30, 1941 |
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The Iloilo Currency Committee was one of several provincial emergency currency authorities that scrambled to issue their own notes after the Japanese invasion of the Philippines in December 1941. With Manila banks cut off and the official Philippine Commonwealth currency rapidly disappearing from circulation through hoarding, local governments across the Visayas and Mindanao printed their own scrip to keep commerce moving — Iloilo being among the earliest and most organized of these efforts.
Iloilo City fell to Japanese forces in April 1942, at which point this scrip was officially worthless. The short window of legitimate use means genuinely circulated examples are scarce; unissued remainders account for most survivors.