Mickey Mouse Money

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At the outbreak of World War II, the Philippines faced serious monetary problems, specifically, the devaluation of peso. During the Japanese occupation, the government issued fiat money known as the Japanese government-issued Philippine fiat peso or Japanese peso. The currencies were released in surplus. These were practically worthless that the people called these Mickey Mouse Money (similar to play money). Since the money were almost invaluable, the people can be seen carrying suitcases or bayong overflowing with the Japanese peso -it entailed one to pay bags of money for a piece of bread. <ref name="test1">"Money Matters." (accessed on 18 January 2008)</ref>

Contents

Two Notes Released

Two kinds of notes were issued in the country during the first period of Japanese occupation – first, the war notes released by the Japanese forces; and second, the guerilla notes or resistance currencies issued by different provinces and municipalities. Then President Jose P. Laurel outlawed the possession of guerilla notes, and those found having one were sanctioned by the Philippine government in-exile, and were later freed after WWII.

Gallery of Japanese-Occupation Denominations

1000 Peso Bill

500 Peso Bill

100 Peso Bill

10 Peso Bill

5 Peso Bill

1 Peso Bill

50 Centavo Bill

10 Centavo Bill

5 Centavo Bill

1 Centavo Bill

References

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Citation

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