Talk:Philippine peso
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[edit] Japanese pesos
Nothing about the pesos backed by the Japanese government during the occupation? --Error 00:16, 20 Jun 2005 (UTC)
[edit] Re: Japanese pesos
Nope. The "Mickey Mouse" money was never backed by the Japanese Occupational government. Exactly like the pesos used now, the Mickey Mouse banknotes are nothing more than IOUs by the government, to be paid in the future from the collection of taxes.
Example 1: I have no money, so I go to the store with an IOU of ten pesos for a can of sardines and the shopkeeper agrees. Now that just means that the shopkeeper can come back to me to collect. Also, that shopkeeper can exchange that IOU for something else. Let's say ten pesos worth of soap. Now the soap seller has the IOU. etc. This is all fine and good, but sooner or later someone out there is going to collect on that ten peso IOU, and if I don't have any money, then that IOU is worthless and gets "demonitised."
Sound exactly like what we have right now, right? Lots of debt. So the thing is we should just pay up, right? Nope. Unfortunately, due to interest, there is no physical way to pay off the debt.
Example 2: The Bangko Sentral prints fifty two one peso bills or coins, then divides the money into four bundles of thirteen. The BSP lend four people thirteen pesos and ask for one peso interest after one week. (Meaning each person should pay fourteen pesos after one week.) As collateral in case they cannot pay up, they give the BSP the titles to their houses.
Now it doesn't matter how they trade or work or what... there is in existence only fifty two pesos. That means if one person fulfills his obligation to pay the fourteen pesos, then at least one person has lost his house.
In short, total amount in existence: fifty two pesos. Amount that needs to be paid: fifty six pesos.
--El Caudillo 04:00, 17 July 2005 (UTC)
[edit] Copyright status
Just in case people want to know about the copyright status of Philippine currency, Philippine currency is in the public domain under Section 176 of the Intellectual Property Code of the Philippines since it qualifies as a work of the Philippine government.
For more information, please see the article on Philippine copyright law.
--Akira123323 13:02, 26 September 2005 (UTC)
[edit] "Very major" revisions
An anonymous user has deleted much of the history section of the article. I wonder why this was done and whether the material is worthy of reentry into this article.
The deleted information includes:
- Philippine currency in the pre-colonial era
- More information on Spanish pesos
- More information on the peso fuerte ("BPI pesos")
- Laws on the peso during the American era
- Philippine pesos during the American era
- World War II pesos
- The peso to 1960
Before the revisions, I was also going to add sections on the peso during the Marcos era and the peso today. Anyway, consensus would be very much appreciated.
--Akira123323 13:15, 12 January 2006 (UTC)
- Well, it's been reverted. Hopefully something like that (the deletions) don't happen again, but then again it can happen at any time. --Akira123323 08:41, 13 January 2006 (UTC)
[edit] Dollar Sign and Peso Sign
Before there were any so-called "dollars", the sign called in some countries the "dollar sign" ($) originally signified the Spanish peso. I read somewhere that the Filipinos used an S with one bar for their peso but with two bars for the US dollar. In any event, the use of the P as the symbol is recent and should be marked as such, with the date it became standard. --Sobolewski 16:41, 18 January 2006 (UTC)
[edit] P or PHP?
My high school teacher said that we should not use the peso sign we ordinarily used as it is the symbol for the Mexican peso, and most companies advertise their products using the PHP sign, which is more appropriate. Which is better, PHP or the old sign?
[edit] The Phillipine Peso
If the Phillipines were under the United States as a Territory since 1898,why would the United States give the Phillipines its own currency(The peso)in 1902,when they could have used the United States Dollar as their currency? For Example,Puerto Rico is a commonwealth that is part of the United States(although it is outside of the 50 states) and it uses the United States dollar. —The preceding unsigned comment was added by 12.226.245.131 (talk • contribs) 00:04, July 9, 2006 (UTC)
[edit] Japanese Yen in the Phillipines
If the Japanese annexed the phillipines into their empire as a Territory during WWII,why did they continue using the peso,instead of the Japanese Yen? —The preceding unsigned comment was added by 12.226.245.131 (talk • contribs) 00:08, July 9, 2006 (UTC)
- To answer both of your questions above: A territory that does not have the ultimate sovereignty or under occupation does not necessarily use the "motherland"'s or the occupier's currency. There are numerous example today and in the past.
- Today
- Bermuda, an overseas territory of the U.K. uses Bermuda dollar, which is actually pegged to US dollar at par
- Past
- During WWII, Japan issued many "currencies" that were supposed equal to occupiees' original currencies, such as Malayan dollar, and the same thing happened in Indonesia as well. In fact, these currencies depreciated very quickly against their respective original currencies.
- --Chochopk 01:16, 9 July 2006 (UTC)
