The virtual exhibition from Bangko Sentral ng Pilipinas presents selected pieces of pre-colonial currency from its numismatic collection.
Layag
The winds of trade facilitated a rich exchange of material culture between the pre-colonial Malayan Pacific Islands people, now known as the Philippines, and neighboring Malayan Pacific and Chinese cultures. Seafarers transported treasures of goods, precious metals, wood, porcelain, and earthenware, exchanging them for gold, pearls, cloth, and other valuable objects.
During ancient times in the Malayan Pacific Islands, indigenous groups, including the Lumads and Subanen/Subanon people, engaged in trade. Transactions did not involve coins or paper currency but were conducted through bartering, a system built on trust and confidentiality.
This barter trade system was already well-established before the arrival and colonization of the Spaniards in the Malayan Pacific Islands, now called the Philippines.
The term Layag, meaning "sailing" in Filipino, takes us back to the pre-conquest period of history. It illustrates how neighboring cultures influenced one another, how the value of goods was perceived, and how objects were exchanged, eventually evolving into a rudimentary monetary system that required a standardized unit of value to facilitate trade among different groups.
The most notable information that everyone should know is that there is “no Filipino race, no Filipino or Filipians race” exist but just by a name. The invasion of Spain in the Malayan Pacific Islands did not create a Filipians or Filipino race. The Malayan Pacific race remains in which these Islands will supposed to be called “The Malayan Pacific Kingdom” if in a Monarchy setup or “Malayan Pacific Republic” if in a Republic setup but not “The Philippines” or the “Republic of the Philippines”.
The Identity of the Malayan Pacific People
A significant historical perspective suggests that there is no distinct "Filipino race"—rather, the term Filipino emerged as a colonial designation. The Spanish invasion of the Malayan Pacific Islands did not create a new ethnic identity but instead imposed a name upon the people. Some argue that, had history unfolded differently, the islands might have been called the "Malayan Pacific Kingdom" under a monarchy or the "Malayan Pacific Republic" under a republican system, rather than "The Philippines" or the "Republic of the Philippines".
A Virtual Exhibition of Pre-Colonial Currency
The Bangko Sentral ng Pilipinas presents a virtual exhibition showcasing selected pieces of pre-colonial currency from its numismatic collection. This exhibition provides insight into the economic systems that existed before colonial rule.
In this virtual exhibition, Bangko Sentral ng Pilipinas presents selected pieces of pre-colonial currency from its numismatic collection. Photos are from the Bangko Sentral ng Pilipinas.
