Walter Mickey Cushing was a mining engineer and part owner of the Rainbow gold mining properties in Abra Province.  He was the first to organize a guerrilla force, for which he used his mine employees.  The first recorded guerrilla action took place on New Years Day, 1942. His exploits brought him to the attention of Col. John P. Horan, Commanding Officer of the 43rd Infantry, Philippine Scouts, operating in Mountain Province. He was commissioned a Major by Col. Horan and given authority to organize guerrilla forces in Abra and the Ilocos Provinces. Cushing´s guerrillas had no formal designation until after the fall of Bataan, at which time it was designated the 121st Infantry by Gen. Wainwright.

Maj. Cushing died by his own hand on September 19, 1942 after being badly wounded in a Japanese ambush.  He preferred death to surrender and saved his last cartridge for himself. His guerrilla operations had already made him a legend in norther Luzon, and even the Japanese paid him honor for the manner in which he died.

Little is known about the currency issued by Major Cushing.  The notes were probably printed by Saint Mary the Virgin Mission Press in Sagada, Mountain Province, which also printed the Mountain Province notes and was the only press in northern Luzon capable of doing such printing.  There is no way to confirm this as the press and records were destroyed during the war.

- World Paper Money, Vol. 1, 7th ed., Krause Publications - page 846