Philippine Declaration of Independence
Following the end of World War II, the United States granted independence to the Philippines on 4 July 1946 via the Treaty of Manila. July 4 was observed in the Philippines as "Independence Day" until August 4, 1964 when, upon the advice of historians and the urging of nationalists, President Diosdado Macapagal signed into law Republic Act No. 4166 designating June 12 as the country's "Independence Day". June 12 had previously been observed as "Flag Day" and many government buildings are urged to display the Philippine Flag in their offices.
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.