Introduction: Currencies, throughout history, have helped finance wars. They have also, often, been greatly affected by these wars, including World War Two [WWII] (Schwan & Boling, 1995). The Series of 1941 Treasury Certificates, printed by the United States [US] Bureau of Engraving and Printing [BEP] for the Commonwealth of the Philippines, were no exception. This series was only partially issued and delivered due to the coming of WWII to the Philippines on December 8, 1941. Some of the certificates not delivered to the Philippines were later used for two special issues requested by the US War and Navy Departments (Shafer, 1964; Treasury Department, 1964). The remaining certificates survived the war while stored at the BEP. However, these certificates were, ultimately, destroyed in 1949 (NARA, 1949).

Series of 1941 Treasury Certificates Naval Aviators’ Emergency Money Packets In August 1944, the Navy Department requested Philippine currency that could be supplied to the 35 US aircraft carriers operating in the Pacific Theater at that time. These certificates were to be provided to aircrews operating in vicinity of the Philippines (Treasury Department, 1964). The 5,000 sealed, watertight, Aviators’ Emergency Money Packets each consisted of 40 x 1 Peso, 4 x 5 Pesos and 4 x 10 Pesos certificates for a total of 100 Pesos (Shafer, 1964; Treasury Department, 1964). Again, existing stocks of finished Series of 1941 1, 5 and 10 Pesos were used, though this time they were issued as is. As with the BOS processed certificates, this operation was carried out in secret and no 2 Pesos certificates were issued (Treasury Department, 1964).

Naval Department Aviators’ Emergency Treasury Certificates: Denomination Serial Numbers Inclusive Dates of Shipment

1 Peso E6324001E-E6524000E October 4, 1944

5 Pesos E1328001E-E1348000E October 4, 1944

10 Pesos E870001E-E890000E October 4, 1944

Series of 1941 Treasury Certificates Destroyed at the BEP in August 1949 On July 5, 1949, almost four years after the end of WWII and almost exactly three years to the day since the establishment of the independent Republic of the Philippines, the US Treasury issued a memorandum signed by Acting Treasury Secretary Edward H. Foley, Jr. titled ‘Special Procedure for the Destruction of Obsolete Philippine Treasury Certificates, Series of 1941.’ This memorandum established procedures for, and called for a committee to oversee, the destruction of 4,342,000 remaining Treasury Certificates worth “$64,980,000” [Pesos, not US Dollars], as soon as possible (NARA, 1949). All banknotes were “paper strapped in units of 100 and made up in packages of 40 straps or 4,000 certificates which are steel-banded but unwrapped. The packages are packed in wooden boxes with 10 packages to a box” (NARA 1949). There were also 24,000 unpackaged 1 Peso notes that were “mutilated or spoiled,” which were left over from the 1943 BOS processing (NARA, 1949). These notes were incinerated on August 4 and 5 at the BEP in Washington, D.C. A U.S. Treasury memorandum dated August 18, 1949, and signed by four destruction committee members, reported that the three representatives of the Republic of the Philippines Embassy, who were present during the entire destruction process, “expressed satisfaction with the way the committee dispatched its assignment”

The above information is from a article written by Daniel McKone in the SPMC Nov/Dec 2022 Issue. Daniel is a Expert on all Philippine Treasury Certificates.

If you would Like the full Article written by Daniel Mckone  please email me and I will be happy to send it to you.

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