An Act Appropriating One Million Five Hundred Thousand Dollars, in Money of the United States, for the Purchase of Silver Bullion for the Further Coinage of Philippine Pesos
Act No. 796, enacted on July 9, 1903, appropriates $1.5 million from the Insular Treasury for the purchase of silver bullion to facilitate the further coinage of Philippine pesos. The funds will cover not only the purchase of silver but also reimbursements for prior advances made by the United States mint, as well as expenses related to coining and transporting the new coins to the Philippines. The Act emphasizes the urgency of its enactment for the public good, allowing for expedited processing in accordance with previous legislative procedures. It takes effect immediately upon passage.
Law Information
- Reference Number
- Act No. 796
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 9, 1903
ACT NO. 796
AN ACT APPROPRIATING ONE MILLION FIVE HUNDRED THOUSAND DOLLARS, IN MONEY OF THE UNITED STATES, FOR THE PURCHASE OF SILVER BULLION FOR THE FURTHER COINAGE OF PHILIPPINE PESOS
SECTION 1. There is hereby appropriated, out of any funds in the Insular Treasury not otherwise appropriated, one million five hundred dollars, in money of the United States, to be expended for the purchase of silver bullion for the coinage of the Philippine silver pesos authorized by the Act of Congress entitled "An Act relating to the currency of the Philippine Islands," approved March second, nineteen hundred and three.
SECTION 2. The money appropriated hereunder shall be also available for the payment of any advances already made by the United States mint for purchases of silver bullion for such coinage for which the mint has not been reimbursed; also for the expenses of coining such pesos, for the transportation of the new coins from the mint of the United States to the Philippine Islands, and for all other incidental expenses of putting such coins into circulation.
SECTION 3. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twenty-sixth, nineteen hundred.
SECTION 4. This Act shall take effect on its passage.
ENACTED, July 9, 1903.
Cite This Law
An Act Appropriating One Million Five Hundred Thousand Dollars, in Money of the United States, for the Purchase of Silver Bullion for the Further Coinage of Philippine Pesos, Act No. 796, Jul 9, 1903 (Philippines)
An Act Appropriating One Million Five Hundred Thousand Dollars, in Money of the United States, for the Purchase of Silver Bullion for the Further Coinage of Philippine Pesos, Act No. 796 (Phil. 1903)
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