5 US Philippines WW2 ILOILO Notes Pres. Quezon, Roosevelt & Gen. MacArthur

Description

5 pcs. US Philippines WW2 Notes Pres. Quezon, Roosevelt & Gen. MacArthur USAFFE
Notes have the profiles of US  President Roosevelt, Pres. Manuel Quezon and Gen. Douglas MacArthur.
The 500 Peso w/ Roosevelt USAFFE note (Pink) at the bottom is counterfeit.
VF- EF condition. Including varieties.
Iloilo Currency Committee
The Japanese invasion of Panay on April 16, 1942 found USAFFE forces and the provincial government of Iloilo under Governor Tomas Confessor well prepared. The USAFFE withdrew to mountain redoubts, and the Iloilo provincial government evacuated to a previously designated area.
These carefully laid plans of the USAFFE came to naught with the unconditional surrender by Gen. Wainwright. Reluctantly Col. Christie obeyed the orders to surrender. But many of his officers, led by Lt. Col. Macario Peralta, refused, as did the greater portion of the USAFFE. Col. Peralta immediately set about organizing the unsurrendered soldiers into a guerrilla force.
As the provincial governments of both Antique and Capiz had become Japanese puppets, he suggested that Governor Confessor extend his jurisdiction over the free areas of those two provinces.
This was done by a Proclamation issued on August 13. Later, the province of Romblon was included, and thus was born the Government of Free Panay and Romblon. Col. Peralta also set out to bring under his own command the other Visayan Islands in what he called the IV Philippine Corps.
As both the civil government and the military command were in desperate need of funds, a conference was called on November 15. Auditor Fernandez, a Member of the now inoperative Iloilo Currency Committee called attention to President Quezon's final message to that committee, which was "to print all the currency needed by the Army in Panay."
As the situation was urgent, it was agreed that this was sufficient authority to resume printing of currency. As Chairman Cervantes was in Japanese hands, his Assistant manager, Juan Buenale, was appointed to replace him on this reconstituted Second Iloilo Currency Committee.
Two press sites in widely separated areas were set up - the DIALOSA press to print currency for the army, the VILLALON press for the civil government. Printing operations got underway January t. 1943. The Dialosa printing was in new designs while the Villalon printing retained those of the presurrender printing. Both were dated Series of 1942.
In December 1942 Col. Peralta established radio contact with Gen. MacArthur in Australia. In a message dated January 13. 1943 MacArthur authorized Peralta to "issue a reasonable amount of military script." This was the only time MacArthur authorized the printing of any type 01 currency, and he no doubt regretted it later. Since preparations were already well advanced lor printing notes on The Philippine National Bank, it was decided to continue with these, rather than change to a military Issue.
Through MacArthur, President Quezon was notified of the actions taken in regard to printing currency. Quezon granted approval, but specified that Peralta was to receive only such amount as was "specifically authorized by Gen. MacArthur."
On receipt of this authority, the Villalon printing was changed to Series of 1943 and extended to a wider range of denominations.
On February 28. 1943 the Dialosa press had been forced to shut down through lack of printing supplies, and Peralta's demands for currency from the Villalon press steadily increased. Confessor sent him everything not needed by the provincial government. It wasn't enough. Peralta demanded it all, and sent a company of soldiers to enforce the demand. Deputy Governor Juan Grino, commanding the Provincial Guard at the press Site, refused to be cowed. Bloodshed was narrowly averted. As tension increased Grino stopped printing, dismantled the press and told Peralta to "come and get it" While the army was moving it to a new location they were ambushed by the Japanese who captured the press.
On October 17, 1943 the Dialosa press resumed printing for the army. To increase production Peralta instituted two 12-hour shifts and added a 100 pesos denomination. The 1942 date continued In use and although both Auditor Fernandez and Fiscal Quisimbing had surrendered to the Japanese the currency continued to bear their signatures.
Relations between Governor Confessor and Col. Peralta had steadily worsened. Thus when Confessor appointed Abelardo Apartado and Eduardo Hibionada to replace the surrendered officials, Peralta substituted his own appointees in the radio message to President Quezon requesting confirmation. Unaware of the deception, Quezon approved Peralta's nominees designating Arucelo Belisario as Acting Provincial Fiscat and Demetrio G. Vinson as Acting Provincial Auditor. Confessor considered their appointments null and void. There thus came into being two sets of officials, one set loyal to Confessor, the other to Peralta.
To satisfy Peralta's demand for currency, the Dialosa press printed only peso denominations. The acute lack of small change caused' Governor Confessor to take affairs into his own hands. In an Executive Order dated March 2, 1944 he directed Deputy Governor Juan Grino, who was concurrently Acting Provincial Treasurer, to print small denomination notes of 10, 20 and 50 centavos. The notes were to be backed up by large denomination notes held in the Provincial Treasury. In addition to Grino's signature, these notes also have the signature of Eduardo Hibionada who was Confessor's appointee as Acting Provincial Auditor.
By then Peralta had come to consider the printing of currency 10 be his exclusive privilege, ignoring the fact that such denominations were badly needed, he ordered the army to confiscate the notes and to suppress their circulation. "While no 10 centavos notes were printed, there were over half a million 50 centavos and 20,000 20 centavos notes placed in circulation. Considering their scarcity today, Peralta's orders must have been effectively carried out.
In mid-September 1944 the Dialosa press began printing a new issue of currency, with small denominations. These notes are dated Series 01 1944 and have facsimile signatures of Peralta's best of officials.
Printing of currency ceased December 5, 1944 on orders of President Osmena. By then a total 43,511,033 pesos had been printed. Peralta alone had printed three times the amount authorized for his use by Gen. MacArthur.
An enormous amount of counterfeits reached circulation. The majority were of 20 and 100 pesos denominations. (taken from Krause World Paper Money Catalogue)
ON GRADING
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