military currency was first issued in 1942 by the Japanese government
and used by countries under their rule at that time. The Japanese were
not the first to issue military currency though.
During and after World War II, the United States issued military
payment certificates to be legal tender for military and civilian
personnel overseas. Unlike allied military currency, these notes
were backed by the U.S. dollar. One of the reasons for issuing MPC was
that it helped to combat black market activities. When it was felt that
too much MPC was in the local economy it would be demonitized and
another series would take its place.
Some of the countries the produced military money are Austria,
Germany, Italy, Japan, China, France, Great Britian, the Philippines and
the United States of America.