Group Members:Balde, JonelCastillo, AraCruz, KarlLacson, FrancisMiraflor, JamelRegio, Revin Carlo
Topic: Pre-Hispanic EraTrade among the early Filipinos and with traders from the neighboring islands was conducted through barter. It was the chief means of trading.Barter- Exchange of goods without involving money.
At least 2000 years before the arrival of Spaniards, the Philippines is home to small seafaring communities. These communities traded with neighboring countries such as: Malaysia Vietnam ChinaTrading was done through barter.
Chinese Ming Dynasty: Ming- is one of the greatest eras of orderly government and social stability in human history.Porcelain and metalware have been unearthed in various parts of the Philippines Unearthed- the means of recovering through digging.
A short history: Gold barter rings Ornaments and and Piloncitos beads
From gold barter rings and piloncitos, to ornaments and beads used by ancient Filipinos as medium of exchange during pre- Hispanic period, up to the present banknotes and coins. Some of the coins that circulated during the three centuries of Spanish rule are: Toston or four reales coins brought by Magellan and his men to the Philippines in 1521.
Toston or Four Reales Coins:Brought by Magellan:
An array of counterstamped coins with Ferdinand VII and Isabel II symbolized the authority of Spain over the Philippines. Ferdinand VII Isabel II
When Casa De Moneda De Manila began minting coins in 1861, the name “Filipinas” appeared for the first time on its coins.Casa De Moneda De Manila- was a branch of the United States Mint.
Young Alfonso XIII was the last Spanish monarch to grace the obverse of Philippine coins.The Spanish-Philippine peso coins bearing his bust, which were minted solely for use in the islands were last minted in 1877 and last circulated in 1904.
The establishment of El Banco Espanol Filipino de Isabel II marked a significant chapter in the development of Philippine numismatics.It was the country’s first commercial bank and in 1852, it issued the pesos fuertes- the first banknotes used in the country.The bank is known today as the Bank of the Philippine Islands (BPI).
In 1899- the 2-centavo copper coin was issued by the first Philippine Republic.In 1916- the Philippine National Bank (PNB) opened to the public.BPI and PNB notes circulated along with silver and treasury certificates issued by the US authorities in Manila.
In 1941- World War II broke out. The Japanese Imperial Army occupied the Philippines. Japanese Invasion Money (JIM) were issued by the government.The Filipinos then issued their own guerilla notes or resistance currencies, which were valid only in certain localities.
In 1946- Independence was finally attained.The same victory notes were issued to announce the establishment of the Central Bank with the words, “Central Bank of the Philippines (CBP)”.On January 3, 1949- CBP was established.In 1951- it began circulating its own currency of English Series notes promoted by Thomas De La Rue in England.