50 Pesos Negros Philippine 1943 Treasury Emergency Currency Certificate Issue   

  Guaranteed to be authentic.  Complete the set, I have posted the other values separately

Island of Negros- Negros Emergency Currency Board 
#S661 – #S664 

At the time of the USAFFE surrender, Negros island was divided into five military sectors, each garrisoned by an  infantry battalion, Two battalion commander, Major Salvador Abcede and Ernesto S Mata, flatly refused to obey the surrender orders. Instead they withdrew in to the mountains and disbanded their units.  The other three battalion commanders obeyed orders and surrendered, but the majority of their men didn’t. They became an army of small guerilla bands desperately in search of leadership.

In southern Negros Occidental the guerilla groups united under command of Maj. Slavador Abcede, while those in the north united under Maj. Ernesto S Malta. They made contact with Col. Peralta in Panay and affiliated with his IV Philippine Corps.  Peralta designated the combined units as the 72^nd Division with Abcede as Commanding Officer and Mata as Chief if Staff. Both were promoted to Lt. Colonel Rank.

Siliman University Professor Henry Roy Bell suddenly found himself leader of a guerilla movement. His former ROTC students had even posted notices in the lowland towns, report immediately to Mr. Bell in the mountains. Bell finally located the unsurrendered officer, Maj. Placido A. Ausejo, to take over the military command while he devoted his efforts to organization, supply and civil affairs. As this area was dependent upon Mindanao for a large part of its food supply they affiliated with the Mindanao – Sulu Command of Col. Fertig, who promptly sent 10,000 pesos in Mindanao currency to aid in their finance.

In northern Negros Oriental Lt. Col. Gabriel Gador proclaimed himself supreme commander of all Negros with the assumed rank of Major General.

On the night of Jan 14, 1943, the submarine USS GUDGEON surfaced off Catmon Point and landed the first Penetration Party under the command of Maj. Jesus Villamor whose mission was to set up an intelligence network in the Philippines.

Villamor’s next step was to establish a civil government by appointing Alfredo Montelibano, former mayor of Bacolod as Governor of Free Negros. This appointment was confirmed by Prs. Quezon on June 9, 1943 when he designated Montelibano Governor of the Province of Negros, consisting of Negros Occidental, Negros Oriental and the sub-province of Sequijor.

To finance the new government, Governor Montelibano borrowed 700,000 pesos from wealthy plantation owners until permission could be obtained from Pres. Quezon to print emergency currency.

Since the members of the pre-surrender currency committees were all in Japanese controlled cities, President Quezon on July 11, 1943 created the Negros Emergency Currency Board composed of the following officials of the newly organized government: Governor Alfredo Montelibano as Chairman, Acting Provincial Treasures Pedro Elizalde and Provincial Auditor Alfredo Benedicto as member.

The Currency Board had not been authorized to print currency, but Montelibano recommended: One hundred thousand monthly needs of Civil Government, Fifty thousand monthly to be used for redemption of mutilated notes, and one million pesos for revolving funds, army is asking one million monthly.

Quezon immediately approved the recommendations but stipulated the amount for the army as being subject to Gen. MacArthur’s approval. Despite numerous request MacArthur would not commit any specified amount.  And after liberation MacArthur would deny any responsibility for redemption of currency on the grounds that he has not given his approval.

Printing got underway on September 18, 1943 in a secret location near Pagnatangan, Expect for signatures cuts and seals, all printing was done from standard metal type. On May 31, 1944 a second press  was setup at Tolong. This press printed only 1 Pesos notes (#S668-S671).  Also, on June 1, 1944 Acting Provincial Auditior Nicasio Villarin replaced Benedicto as a Member  of the Currency Board, but for the balance of 1944 all notes continued to be printed with Benedicto’s signature. The 1945 series has Villarin’s signature.

Almost any type of paper available was used for printing. The greater portion of it was derived from commercially manufactured brown paper bags. The white paper used at Tolong was brought in by a submarine.

Printing operations ended on May 8, 1945.  By that time the astounding total of 40,128,539 pesos had been printed, of which all but 8,346,00 had been issued. Unissued notes were ordered destroyed.

There are several varieties of seals, used indiscriminately. These are also variation in the type set-up for dates. Numerous different clerks were employed in the task of initiating each note after it was printed. In giving serial numbers only those reported as having been issued are included, with mention where necessary of those reported destroyed. (taken from Krause World Paper Money Catalogue )

ON GRADING

The grade I gave is just my opinion and may differ from others. Grading is subjective and not an exact science. Please take a look at the photo and grade it accordingly. Several subjective factors of personal preference may be considered different by others. These include paper texture, quality, color, folds, markings, stains and overall eye appeal.

ABOUT US PHILIPPINES BANKNOTES

I noticed that the catalogue value of the US Philippine notes have increased dramatically over the past 4 years. With the high demand for US Philippines Banknote, the supply in our county is getting scarcer even for the common ones. Even in our local and international auctions good bank notes seldom appear. Unlike coins which is easy to keep and preserve, paper money are demonetized and destroyed by the banks and with our humid climate these notes have deteriorated in time. Start buying now !!! These notes are good investment that I guarantee.  

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