Wednesday, October 29, 2014
Mickey Mouse Money
Awhile back on this blog I posted some World War II era photos showing the bombing destruction of Manila after the war. These were given to my wife by one of her clients. Well the same client dropped by my wife's office again and this time brought her some World War II era money from the Philippines. I thought there were pretty cool so I scanned the front sides to post here in order from least worth to most worth.
The money issued by the Japanese after they routed the Americans and took over the island was called the fiat peso. They made the previous pesos illegal in an attempt to stop the guerrilla movement. As the title of the post suggests, the locals called it "Mickey Mouse money."
At the time, 75 Mickey Mouse pesos was equivalent to 35 U.S. dollars but due to inflation, locals were often seen carrying huge sacks of money to buy what they needed. Some examples that I found were that 75 pesos were needed to buy 1 duck egg or a box of matches cost about 100 pesos.
The Centavo shown at the top of the post, which is about the same size and quality as Monopoly money, was from the first issue of money in 1942. The 1, 5 and 10 were issued a year later in 1943 and due to rising hyperinflation, the 100 peso note was issued in 1944.
The monument promently displayed on all the fiat pesos is the Rizal monument which is a Filipino hero to many who was executed by a Filipino firing squad in the Spanish army in 1896 for conspiracy.
This final note is a 5 yen note which I'm pretty sure was also issued during the war by the Japanese for use in China and Hong Kong. I'm not sure what they called it there but it certainly is a little bit more complex than the Mickey Mouse money used in the Philippines.