TREASURY EMERGENCY CURRENCY CERTIFICATES
From February 20-22, 1942 a Conference of Provincial Treasurers convened by President Quezon was held at Bacolod, Negros Occidental. Concern was expressed that the multiplicity of emergency currency was creating confusion and distrust. A Resolution was adopted which called for creation of a single Currency Board to print emergency currency for all the provinces of the Visayan islands and Mindanao.
As a result of this Resolution, the Cebu Emergency Currency Board was created by President Quezon in a telegram dated March 1, which designated Acting Provincial Auditor Roman T, del Bando as Chairman, with Acting Provincial Treasurer Pedro Elizalde and Cebu City Treasurer Rosalio D, Macrohon as Members. Twenty million pesos was authorized instructions specified that all notes were to be countersigned by each Board Member.
Printing of 20 Pesos notes got underway as soon as plates could be prepared, followed by the 10, 5 and 2 Pesos denominations. Centavo notes were planned but never got past the design stage. Some of the first 20 Pesos notes were issued countersigned in pen, but the enormous amount of work involved necessitated use of facsimile signature stamps which could be applied by each Member's representative.
Printing was brought to a halt with the Japanese invasion of Cebu during the early morning hours of April 10, 1942. Until then no 2 Pesos notes had been completely printed. None of the 5 Pesos notes had been countersigned, and many of the 10 and 20 Pesos also lacked countersignatures. Of the 3,850,000 pesos printed, only 865,000 pesos were issued.
That same morning as the Japanese rapidly approached, the Currency Board began destroying the unissued currency. Notes were piled behind the capital building, gasoline poured over them. and they were then set afire.
At the last minute, however, 19,500 pesos were set aside for use by the Cebu Provincial Government. This consisted of 500 notes each of the 5, 10 and 20 Pesos denominations, each serially numbered 1-500, plus 200 10 Pesos notes serially numbered 30,601 to 30,800.
The 5 and 10 Pesos notes numbered 1-500 had not been countersigned, and thus became the only notes officially issued without countersignatures.
As soon as the fire was blazing, the Board Members hastily departed, leaving behind the Constabulary soldiers guarding the burning notes. As soon as the officials left, the soldiers followed suit. Before the Japanese arrived, spectators to the scene scattered the fire and retrieved bundles of currency which were not burned at all. or had only the outer edges singed, Thousands of pesos thus reached circulation illegally.
1942 SERIES - OFFICIAL ISSUE
# S221-222 no countersign. on back
(S 221 - S224)
1942 ILLEGAL ISSUE
(S226 -S228)
From: Catalogue
As a result of this Resolution, the Cebu Emergency Currency Board was created by President Quezon in a telegram dated March 1, which designated Acting Provincial Auditor Roman T, del Bando as Chairman, with Acting Provincial Treasurer Pedro Elizalde and Cebu City Treasurer Rosalio D, Macrohon as Members. Twenty million pesos was authorized instructions specified that all notes were to be countersigned by each Board Member.
Printing of 20 Pesos notes got underway as soon as plates could be prepared, followed by the 10, 5 and 2 Pesos denominations. Centavo notes were planned but never got past the design stage. Some of the first 20 Pesos notes were issued countersigned in pen, but the enormous amount of work involved necessitated use of facsimile signature stamps which could be applied by each Member's representative.
Printing was brought to a halt with the Japanese invasion of Cebu during the early morning hours of April 10, 1942. Until then no 2 Pesos notes had been completely printed. None of the 5 Pesos notes had been countersigned, and many of the 10 and 20 Pesos also lacked countersignatures. Of the 3,850,000 pesos printed, only 865,000 pesos were issued.
That same morning as the Japanese rapidly approached, the Currency Board began destroying the unissued currency. Notes were piled behind the capital building, gasoline poured over them. and they were then set afire.
At the last minute, however, 19,500 pesos were set aside for use by the Cebu Provincial Government. This consisted of 500 notes each of the 5, 10 and 20 Pesos denominations, each serially numbered 1-500, plus 200 10 Pesos notes serially numbered 30,601 to 30,800.
The 5 and 10 Pesos notes numbered 1-500 had not been countersigned, and thus became the only notes officially issued without countersignatures.
As soon as the fire was blazing, the Board Members hastily departed, leaving behind the Constabulary soldiers guarding the burning notes. As soon as the officials left, the soldiers followed suit. Before the Japanese arrived, spectators to the scene scattered the fire and retrieved bundles of currency which were not burned at all. or had only the outer edges singed, Thousands of pesos thus reached circulation illegally.
1942 SERIES - OFFICIAL ISSUE
# S221-222 no countersign. on back
(S 221 - S224)
1942 ILLEGAL ISSUE
(S226 -S228)
From: Catalogue
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