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50 Pesos Victory
| Issuer | Philippine Treasury |
|---|---|
| Year | 1944 |
| Type | Standard circulation banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BY AUTHORITY OF AN ACT OF THE PHILIPPINE LEGISLATURE APPROVED BY THE PRESIDENT OF THE UNITED STATES JUNE 13, 1922 THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE PHILIPPINES FIFTY PESOS PAYABLE TO THE BEARER ON DEMAND IN SILVER PESOS OR IN LEGAL TENDER CURRENCY OF THE UNITED STATES OF EQUIVALENT VALUE VICTORY SERIES NO. 66 TREASURY CERTIFICATE LAWTON |
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| Variants | P#99a - lower signature title: "Auditor General" P#99b - lower signature title: "Treasurer" |
| Comments |
The Victory series was prepared in the United States while the Philippines remained under Japanese occupation, held in readiness for the liberation that MacArthur's forces began delivering in late 1944. These notes were airdropped and distributed alongside advancing troops as a deliberate instrument of economic restoration — the overprinting of "VICTORY" was a political signal as much as a monetary one, differentiating legitimate Commonwealth currency from the Japanese-issued "Mickey Mouse" money the occupation had forced into circulation.
Extensive counterfeiting of the Japanese-era pesos had so thoroughly poisoned public confidence that the Victory series faced real skepticism on the ground, even though it was genuine and U.S.-backed.