This currency Committee was created by President Quezon and Composed of Jose V Buenaventura, Manger of the Bacolod branch of the Philippine National Bank (PNB) as Chairman, with Acting Provisional Auditor Ceferino Ramos and Provincial Fiscal Francisco Arellano as Members.
Two issues of Emergency currency printed by this Committee were turned over to the PNB for distribution.
First Issue: the telegram creating his Committee authorized 100,000 pesos to be printed in denominations of 1, 5 and 10 Pesos. In a telegram sent the next day, Pres. Quezon increased the authorization to 500,000 pesos. Of the authorized amount 450,000 pesos were issued. The some reason 250,000 in 5 Pesos notes (serial# 35,001-40,000) were never printed.
Second Issue: Acting on a petition of the Committee, president Quezon authorized an additional 1,000,000 pesos. The next day he visited Bacolod, met the committee and increased the amount to 7,000,000 pesos. Two days later he authorized a total of 14,500,000 pesos in emergency currency be printed for Negros Occidental. As this included 6,448,771 pesos allocated to the Negros Occidental Provincial Currency Committee, the final authorization amounted to 8,051,229 pesos.
Of the authorized amount, 1,425,000 had been printed. These were 19,456.30 pesos in uninsured currency remaining in the vault when Bacolod was occupied by Japanese forces. (taken from Krause World Paper Money Catalogue ). (taken from Krause World Paper Money Catalogue)
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