DID YOU KNOW…
...that although the first bank in the Philippines, originally called El Banco Español Filipino de Isabel 2, had printed its first bank note as early as 1852, it was not until after the approval of its by-laws, confirmed in a royal decree from the Spanish central government in Madrid dated October 17, 1854, that the bank was able to formally exercise its privilege to issue paper money to the general public?
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…that the pesos fuertes, as the first bank notes in the Philippines were called, could be redeemed in Mexican coins in gold or silver?
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…that Mexican coins (brought in via the galleon trade between Manila and Acapulco in Mexico) had been in circulation, though on a limited scale, in the Philippine islands prior to the formal establishment of El Banco Español Filipino de Isabel 2 in 1851?