Japanese government–issued Philippine peso: Difference between revisions

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	During ] in the ], the occupying Japanese government-issued ] in several denominations; this is known as the '''Japanese government-issued Philippine fiat peso''' (see also ]). The ] under President ] outlawed possession of ], and declared a ] on the issuance of money, so that anyone found to possess guerrilla notes could be arrested or even executed.		During ] in the ], the occupying Japanese government-issued ] in several denominations; this is known as the '''Japanese government-issued Philippine fiat peso''' (see also ]).<ref>{{cite book\|author=Potet, Jean-Paul G. \|title=Numbers and Units in Old Tagalog\|url=https://books.google.com/books?id=afOjDAAAQBAJ&pg=PA102\|date=25 June 2016 \|publisher=Lulu.com\|isbn=978-1-326-61380-8\|page=102}}</ref> The ] under President ] outlawed possession of ], and declared a ] on the issuance of money, so that anyone found to possess guerrilla notes could be arrested or even executed.

	Some Filipinos called the fiat peso "] money". Many survivors of the war ~~{{Who\|date=July 2011}}~~ tell stories of going to the market laden with suitcases or "''bayóng''" (native bags made of woven coconut or '']'' leaf strips) overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one duck egg.<ref name="LATimes.com">{{cite news\|publisher=] \|title=A Return to Wartime Philippines \|author=Barbara A. Noe \|url=http://www.latimes.com/news/local/valley/la-tr-philippines7aug07,0,648886,full.story?coll=la-editions-valley \|date=August 7, 2005 \|accessdate=2006-11-16 \|url-status=dead \|archiveurl=https://web.archive.org/web/20090217145642/http://www.latimes.com/news/local/valley/la-tr-philippines7aug07%2C0%2C648886%2Cfull.story?coll=la-editions-valley \|archivedate=February 17, 2009 }}</ref> In 1944, a box of matches cost more than 100 ''Mickey Mouse'' pesos.<ref>] & Guerrero, Milagros C., ''History of the Filipino People'', 1986, R.P. Garcia Publishing Company, ], ]</ref>		Some Filipinos called the fiat peso "] money". Many survivors of the war tell stories of going to the market laden with suitcases or "''bayóng''" (native bags made of woven coconut or '']'' leaf strips) overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one duck egg.<ref name="LATimes.com">{{cite news\|publisher=] \|title=A Return to Wartime Philippines \|author=Barbara A. Noe \|url=http://www.latimes.com/news/local/valley/la-tr-philippines7aug07,0,648886,full.story?coll=la-editions-valley \|date=August 7, 2005 \|accessdate=2006-11-16 \|url-status=dead \|archiveurl=https://web.archive.org/web/20090217145642/http://www.latimes.com/news/local/valley/la-tr-philippines7aug07%2C0%2C648886%2Cfull.story?coll=la-editions-valley \|archivedate=February 17, 2009 }}</ref> In 1944, a box of matches cost more than 100 ''Mickey Mouse'' pesos.<ref>] & Guerrero, Milagros C., ''History of the Filipino People'', 1986, R.P. Garcia Publishing Company, ], ]</ref>

	These bills were often used by American ] personnel as propaganda leaflets. Japanese occupation banknotes were overprinted with the words "The Co-prosperity Sphere: What is it worth?", in an attempt to discredit the ], and dropped from Allied aircraft over the occupied territories.<ref>{{cite web \| last =Friedman \| first =Herbert A. \| title =WWII Allied Propaganda Banknotes \| url=http://www.psywarrior.com/WWIIAlliedBanknotes.html \| accessdate = 2010-04-17}}</ref>		These bills were often used by American ] personnel as propaganda leaflets. Japanese occupation banknotes were overprinted with the words "The Co-prosperity Sphere: What is it worth?", in an attempt to discredit the ], and dropped from Allied aircraft over the occupied territories.<ref>{{cite web \| last =Friedman \| first =Herbert A. \| title =WWII Allied Propaganda Banknotes \| url=http://www.psywarrior.com/WWIIAlliedBanknotes.html \| accessdate = 2010-04-17}}</ref>

Revision as of 11:21, 30 November 2019

"Mickey Mouse money" redirects here. For the scrip used in many Disney-owned locations, see Disney dollar.

Japanese government–issued Philippine peso
Peso Template:Language icon and Template:Language icon, Piso Template:Language icon
Obverse and reverse of the 500 pesos note, 1944-1945
Unit
Plural	pesos
Symbol	₱‎
Denominations
Subunit
1/100	Cent Centavo or Céntimo (Spanish) Sentimo (Filipino)
Banknotes	₱1, ₱5, ₱10, ₱100, ₱500, ₱1000
Demographics
User(s)	Second Philippine Republic
Issuance
Central bank	Japanese government

During World War II in the Philippines, the occupying Japanese government-issued fiat currency in several denominations; this is known as the Japanese government-issued Philippine fiat peso (see also Japanese invasion money). The Second Philippine Republic under President José P. Laurel outlawed possession of guerrilla currency, and declared a monopoly on the issuance of money, so that anyone found to possess guerrilla notes could be arrested or even executed.

Some Filipinos called the fiat peso "Mickey Mouse money". Many survivors of the war tell stories of going to the market laden with suitcases or "bayóng" (native bags made of woven coconut or buri leaf strips) overflowing with the Japanese-issued bills. According to one witness, 75 "Mickey Mouse" pesos, or about 35 U.S. dollars at that time, could buy one duck egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos.

These bills were often used by American psychological warfare personnel as propaganda leaflets. Japanese occupation banknotes were overprinted with the words "The Co-prosperity Sphere: What is it worth?", in an attempt to discredit the Greater East Asia Co-Prosperity Sphere, and dropped from Allied aircraft over the occupied territories.

Denominations

1942 series

1942 issue of the Japanese government-issued Philippine peso
Value	Issue date	Series
1 centavo	1942	First
5 centavos	1942	First
10 centavos	1942	First
50 centavos	1942	First
1 peso	1942	First
5 pesos	1942	First
10 pesos	1942	First

1943–45 series

A new series of notes in denominations of 1, 5 and 10 pesos were issued in 1943. Hyperinflation had also forced the Japanese to issue notes for 100, 500 and 1000 pesos in 1944.

1943–45 issue of the Japanese government-issued Philippine peso
Value	Issue date	Series
1 peso	1943	Second
5 pesos	1943	Second
10 pesos	1943	Second
100 pesos	1944	Second
500 pesos	1944	Second
1,000 pesos	1945	Second

References

Potet, Jean-Paul G. (25 June 2016). Numbers and Units in Old Tagalog. Lulu.com. p. 102. ISBN 978-1-326-61380-8.
Barbara A. Noe (August 7, 2005). "A Return to Wartime Philippines". Los Angeles Times. Archived from the original on February 17, 2009. Retrieved 2006-11-16.
Agoncillo, Teodoro A. & Guerrero, Milagros C., History of the Filipino People, 1986, R.P. Garcia Publishing Company, Quezon City, Philippines
Friedman, Herbert A. "WWII Allied Propaganda Banknotes". Retrieved 2010-04-17.