Philippine–American War
In 1902, the United States Congress passed the Philippine Organic Act, which provided for the creation of the Philippine Assembly, with members to be elected by Filipino males. (Women did not have suffrage in the US or the Philippines.) This act was superseded by the 1916 Philippine Autonomy Act, which contained the first formal and official declaration of the United States government's commitment to eventually grant independence to the Philippines. The 1934 Philippine Independence Act created the Commonwealth of the Philippines the following year, a limited form of independence, and established a process ending in Philippine independence (originally scheduled for 1944, but interrupted and delayed by World War II). The United States granted independence in 1946, following World War II and the Japanese occupation of the Philippines, through the Treaty of Manila.
History of Philippine money
Asserting its independence after the Philippine Declaration of Independence on June 12, 1898, the "República Filipina" (Philippine Republic) under General Emilio Aguinaldo issued its own coins and paper currency backed by the country’s natural resources. The coins were the first to use the name "centavo" for the subdivision of the peso. The island of Panay also issued revolutionary coinage. After Aguinaldo's capture by American forces in Palanan, Isabela on March 23, 1901, the revolutionary peso ceased to exist.