Special Currency Issues:
Contingencies for War

During World War II, the U.S. Treasury replaced all American currency in Hawaii with special issue notes as a precautionary measure in the event of a Japanese victory. Had the Japanese conquered Hawaii, the distinctively marked currency would have been withdrawn from circulation.

The major Allied powers issued Allied Military Currency to troops during and after World War II in newly liberated or defeated countries such as France, Italy, and Japan. After World War II, the United States issued Military Payment Certificates to its troops overseas. Unlike Allied Military Currency, these notes were denominated in U.S. dollars rather than in foreign currencies and were controlled by the occupying U.S. military authorities.