Japanese Invasion Money - Aftermath

Aftermath

After World War II, an organization called "The Japanese War Notes Claimants Association of the Philippines, Inc." (JAPWANCAP) was founded on 8 January 1953. Its purpose was to pressure the Philippine and U.S. governments to redeem or to pay a fraction of the value of the Japanese military issues of currency for the Philippines. The Association held the notes, issued membership certificates, official ID cards and deposit pass books. These certificates were issued for a fee. The Filipino legislature was not interested in pursuing the matter and nothing came of it. In 1967, JAPWANCAP unsuccessfully sued the United States government for reciprocity and lost. Court battles against Japan have raged up until recently with cases going to Japan's highest courts. To date, no person issued Japanese Invasion money in place of their own money has been awarded compensation. Pursuant to the Treaty of San Francisco signed September 1951 Japan made restitution on a national, not individual, level. Large amounts of Japanese Invasion Money still exists and most issues can be purchased cheaply by collectors.