Japanese government-issued Philippine fiat peso
During World War II in the Philippines, the occupying
Japanese government issued fiat currency in several denominations known as Japanese
government-issued Philippine fiat peso. The Japanese-sponsored Second Philippine
Republic under Jose P. Laurel outlawed possession of guerilla currency and
declared a monopoly on the issuance of money and anyone found to possess guerilla notes could
be arrested.
Due to the fiat nature of the currency, the Philippine economy felt the effects of hyperinflation. The Filipinos called the fiat peso, "Mickey Mouse" money, due to the fact that it was similar to play money and next to worthless. Many survivors of the war tell stories of going to the market laden with suitcases or "bayong" (native bags made of woven bamboo strips) overflowing with the Japanese-issued bills. 75 Mickey Mouse pesos, or about 35 U.S. dollars at that time, could buy one duck egg[1]. In 1944, a box of matches cost more than 100 Mickey Mouse pesos[2].
Denominations
1942 series
 1-centavo denomination |
 5-centavo denomination |
 10-centavo denomination |
 50-centavo denomination |
 10-peso denomination |
1943 series
The obverse side views of the 1, 5, 10, 100-peso denominations all depict the Jose Rizal monument in Rizal Park, Manila, Philippines.
 1-peso denomination |
 5-peso denomination |
 10-peso denomination |
 100-peso denomination |
1944-45 series
Inflation had forced the Japanese to issue 100, 500, and 1000 peso notes in between 1944 and 1945.
See also
External links
References
| Philippine peso and coinage | |
|---|---|
| Topics | Coins of the Philippine peso · Banknotes of the Philippine peso · Philippine peso |
| Currency | Spanish-Philippine currency · Philippine Revolutionary currency · Banco Español Filipino-Bank of the Philippine Islands note · Silver certificate · Treasury certificate · Philippine National Bank note · Japanese occupation note · Emergency circulating notes · Central Bank note · Bangko Sentral note |
| Coinage | Pre-Hispanic Philippine coinage · Spanish-Philippine coinage · Philippine revolutionary coinage · American Philippine coinage · Philippine Commonwealth coinage · Philippine Republic coinage |
| Currencies named peso or similar | |
|---|---|
| Circulating | Argentine peso · Chilean peso · Colombian peso · Cuban convertible peso · Cuban peso · Dominican peso (peso oro) · Macanese pataca (圓) · Mexican peso · Philippine peso (piso) · Uruguayan peso |
| Obsolete | Argentine peso argentino · Argentine peso ley · Argentine peso moneda corriente · Argentine peso moneda nacional · Bolivian peso · Catalan peseta (pesseta) · Costa Rican peso · Ecuadorian peso · Equatorial Guinean peseta · Guatemalan peso · Guinea Bissau peso · Honduran peso · Japanese government-issued Philippine fiat peso · Nicaraguan peso · Paraguayan peso · Peruvian peseta · Portuguese Timorese pataca · Puerto Rican peso · Salvadoran peso · Spanish peso · Spanish peseta (pesseta, pezeta) · Venezuelan peso |
| See also | Peso sign · Maltese pataca (coin) |
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
