General MacArthur Signs Japanese Occupation Currency, 1945
The Japanese flooded the Philippines Islands with their worthless occupation currency during WWII. At the end of the war, many Filipinos had thousands of pesos that were worthless. During the Japanese occupation of the Philippines, General Douglas MacArthur ordered the circulation of several hundred million counterfeit Japanese war notes to be used by Allied Forces to support U.S. intelligence agents and by the Filipino resistance movement. MacArthur signed this bill, probably as a souvenir for one of his officers.
