During World War II, the Japanese issued Military Gumpyo Pesos (PHJ) at par with the Philippine Peso which continued to circulate; however, Philippine forces had withdrawn into the jungle, and issued their own Guerilla Pesos (PHG), redeemable in paper Pesos after the war was over. The Japanese made use of the Guerilla Pesos punishable by death, but since this would have led to the collapse of the Philippine economy, local Japanese authorities acquiesced and often allowed the Guerilla Pesos to circulate. During the war, the Japanese Military peso depreciated relative to the Commonwealth Peso with the conversion rate declining from 1.25 PHJ = 1 PHP by May 15, 1943 to 1.44:1 in June 1943, 20:1 in July 1944 and 120:1 in January 1945. The Ballantyne Scale was adopted by the Congress of the Philippines in 1945 to calculate these conversion rates.
After World War II, the Philippines gained its independence and adopted the Peso after gaining independence. The Piso replaced the Peso in 1962, and is divisible into 100 Sentimos (Centavos).
The occupying Japanese government issued Fiat currencyin several denominations known as Japanese government-issued Philippine fiat peso. The Japanese-sponsored Second Philippine Republicunder Jose P. Laureloutlawed possession of guerrilla currency and declared a monopolyon the issuance of money and anyone found to possess guerrilla notes could be arrested.
Due to the fiat nature of the currency, the Philippine economy felt the effects of hyperinflation. The Filipinos called the fiat peso, "Mickey Mouse" money, due to the fact that it was similar to play money and next to worthless. Many survivors of the war tell stories of going to the market laden with suitcases or "bayong" (native bags made of woven bamboo strips) overflowing with the Japanese-issued bills. 75 Mickey Mousepesos, or about 35 U.S. dollars at that time, could buy one duck egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos
During World War II, the Japanese issued Military Gumpyo Pesos (PHJ) at par with the Philippine Peso which continued to circulate; however, Philippine forces had withdrawn into the jungle, and issued their own Guerilla Pesos (PHG), redeemable in paper Pesos after the war was over. The Japanese made use of the Guerilla Pesos punishable by death, but since this would have led to the collapse of the Philippine economy, local Japanese authorities acquiesced and often allowed the Guerilla Pesos to circulate. During the war, the Japanese Military peso depreciated relative to the Commonwealth Peso with the conversion rate declining from 1.25 PHJ = 1 PHP by May 15, 1943 to 1.44:1 in June 1943, 20:1 in July 1944 and 120:1 in January 1945. The Ballantyne Scale was adopted by the Congress of the Philippines in 1945 to calculate these conversion rates.
After World War II, the Philippines gained its independence and adopted the Peso after gaining independence. The Piso replaced the Peso in 1962, and is divisible into 100 Sentimos (Centavos).
The occupying Japanese government issued fiat currencyin several denominations known as Japanese government-issued Philippine fiat peso. The Japanese-sponsored Second Philippine Republicunder Jose P. Laureloutlawed possession of guerrilla currency and declared a monopolyon the issuance of money and anyone found to possess guerrilla notes could be arrested.
Due to the fiat nature of the currency, the Philippine economy felt the effects of hyperinflation. The Filipinos called the fiat peso, "Mickey Mouse" money, due to the fact that it was similar to play money and next to worthless. Many survivors of the war tell stories of going to the market laden with suitcases or "bayong" (native bags made of woven bamboo strips) overflowing with the Japanese-issued bills. 75 Mickey Mousepesos, or about 35 U.S. dollars at that time, could buy one duck egg. In 1944, a box of matches cost more than 100 Mickey Mouse pesos
Around 1 Million People from the Philippines during World War 2 were killed, 57,000 being Military deaths and 950,000 being Civilian Deaths.
: They occupied the Phillippines After the Spanish-American War the US required Spain to sell the islands to the US for $20,000,000. There followed a local war called the Philippine-Ameircan War in the Philippines and the Philippine insurrection in the US, in which Filipinos tried to obtain complete independence. The US prevailed and governed the Philippines (except during the Japanese occupation during World War 2) until 1946 when full independence was granted.
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Germany's currency during World War 2 was the Reichmark .
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During the Spanish-American war Philippine freedom fighters were allied with the US. After that war, during the Philippine-American War (Philippine Insurrection) they wer at war with the US government. During World War2, Philippine freedom fighters were guerrillas against the Japanese occupation and supported by the US.
The French used the franc during World War II.
The Reichsmark.
Australian
Lira for Italy
the currency that was printed during the revolutionay war was the commodity money
the German currency Deuchmarks
The Philippine Insurrection 1899-1902. As of the 21st Century, the name has been changed to "Philippine-American War." This war was bloodier than the Spanish-American War of 1898 which had spawned it.
Around 1 Million People from the Philippines during World War 2 were killed, 57,000 being Military deaths and 950,000 being Civilian Deaths.
: They occupied the Phillippines After the Spanish-American War the US required Spain to sell the islands to the US for $20,000,000. There followed a local war called the Philippine-Ameircan War in the Philippines and the Philippine insurrection in the US, in which Filipinos tried to obtain complete independence. The US prevailed and governed the Philippines (except during the Japanese occupation during World War 2) until 1946 when full independence was granted.