Paper money

Footnote: FREE MASBATE Capt. Manuel P. Donato had organized a small guerrilla unit on Masbate in 1942. Relations with the Villaojada unit had been cordial (see KKKK) but in 1943 Capt. Donato went to Panay to seek backing from Col. Peralta. He returned to Masbate as Executive Officer under Maj. Tansiongco whom Peralta sent to liquidate the Villaojada guerrillas.
In July 1944, Capt. Donato led a revolt against the command of Maj. Tansiongco after which a conference of guerrilla officers was called on July 18. A Resolution was adopted severing all connections between Masbate and Col. Peralta's command in Panay.
A Free Masbate Provincial Government was organized and at the inaugural meeting on October 9, 1944, the Provincial Board adopted a Resolution creating a Currency Committee to print emergency notes.
The Currency Committee was composed of Acting Provincial Governor Severo Castillo as Chairman, with Acting Provincial Treasurer Francisco Dimatara an