NUMBER ONE MONEY MAN
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PHILIPPINES
2 Piso
Pope's Visit - OVERPRINT
1981
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9 or less 10 - 99 100 +
US$ 5.00 US$ 2.00 US$ 1.50
HEROES OF WORLD WAR II - GENERAL DOUGLAS MACARTHUR ON BANKNOTES OF ILOILO, THE PHILIPPINES

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HEROES OF WORLD WAR II - AMERICAN PRESIDENT FRANKLIN DELANO ROOSEVELT ON BANKNOTES OF ILOILO, THE PHILIPPINES
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HEROES OF WORLD WAR II
GENERAL DOUGLAS MACARTHUR &
PRESIDENT FRANKLIN DELANO ROOSEVELT
ON BANKNOTES OF ILOILO, THE PHILIPPINES
GENUINE GENERAL DOUGLAS MACARTHUR

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9 or less 10 - 99 100 +
US$ 10.00 US$ 7.00 US$ 6.00
GENUINE GENERAL  ROOSEVELT 

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9 or less 10 - 99 100 +
US$ 15.00 US$ 9.00 US$ 7.50
 ROOSAVELT COUNTERFEIT MADE BY JAPANESE 

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9 or less 10 - 99 100 +
US$ 25.00 US$ 15.00 US$ 13.00

DON'T MISS
WWII EMERGENCY & GUERILLA CURRENCY COLLECTION
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WWII EMERGENCY & GUERILLA CURRENCY COLLECTION
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FIRST NON-PROVISIONAL POST WWII BANKNOTES
HEROES OF THE REVOLUTION

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1 Peso US$ 6.00 US $3.00 US$ 2.75
2 Pesos US$ 10.00 US$ 5.00 US$ 4.00
5 Pesos US$ 7.00 US$ 3.50 US$ 2.75
10 Pesos US$ 9.00 US$ 4.50 US$ 3.50
20 Pesos US$ 12.00 US$ 5.00 US$ -.--
50 Pesos US$ 13.00 US$ 6.00 US$ -.--
PHILIPPINE GUERILLA NOTE LIST - CLICK HERE

Information:
When the Philippines were attacked by the Japanese on December 8, 1941 (same day as Pearl Harbor, December 7) one of the immediate results was an enormous increase in government expenditures and thus a massive shortage of paper money.

Everyone was dependent on the capital (Manila) for their currency supplies, but with the city under Japanese rule, there was nothing forthcoming. Even President Quezon fled to MacArthur's headquarters on Corregidor and from there (and later from Washington D.C.) created Currency Committees which were authorized to print emergency money.

All emergency currencies issued under this authority was legal tender no matter of where it was printed. The official exchange rate was pegged at 2 Philippine Pesos to One US Dollar. Although this money was outlawed by the Japanese invaders, it none the less circulated. This post-surrender paper money is referred to as 'guerilla' currency (the guerilla movement was led by mostly middle class Filipino officers who were enthusiastically pro - American).

The use of emergency notes was in direct conflict with the Japanese and their attempt to have everyone (in all of the conquered territories) use their issues of currency, commonly referred to as JIM.