PHILIPPINE NATIONAL BANK CIRCULATING
NOTE
THE PHILIPPINE NATIONAL BANK
WILL PAY THE BEARER ON DEMAND
FIFTY PESOS
IN LAWFUL CURRENCY OF THE PHILIPPINE ISLANDS
ISSUE UNDER THE PROVISIONS OF ACT NUMBER 2612 OF THE PHILIPPINE
LEGISTATURE AS AMENDED BY ACT 2747
Reverse lettering
FIFTY PESOS
PHILIPPINE NATIONAL BANK
THIS NOTE IS RECEIVABLE BY THE PHILIPPINE GOVERMENT IN PAYMENT OF
ALL TAXES DUES OR OTHER CLAIMS DUE OR OWING TO SAID GOVERNMENT AND
IS EXEMPT FROM ALL TAXES
CIRCULATING NOTE
FIFTY PESOS