PROHIBITING CIRCULATION OF YEN PAPER
MONEY AND
FOREIGN CURRENCIES
The currencies which shall be sanctioned by the authorities of the
Japanese Army to circulate in the Philippine Islands shall be the Peso
military notes which are issued by the Imperial Japanese Government, and the
Philippine Peso currency, which is already in circulation.
The circulation of the Yen paper money (paper money issued by the
Japanese Imperial Government, Yen notes issued by the Bank of Japan, Yen
notes issued by the Bank of Chosen, Yen notes issued by the Bank of
Taiwan, and the military notes), piastre currency (notes issued by the Bank
of Indo-China), and all other currencies of foreign countries shall be
prohibited.
However, as for the U. S. dollar currency, the circulation shall be
approved at the rate of two pesos (₱2) per one dollar ($1), for the time
being.
Not only the paper of the above-mentioned currencies, which are
prohibited to circulate as the means of payment of all transactions, but
also the receiver of such currencies shall be punished in accordance with
the provisions of the martial law.
As to the treatment of the possession in the market of the
above-mentioned currencies and the U. S. dollar currency which are
prohibited to circulate shall be regulated later on.
COMMANDER-IN-CHIEF
THE IMPERIAL JAPANESE FORCES
January 10, 1942.