An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two
Act No. 1195, enacted on July 18, 1904, authorizes the Secretary of War to issue up to three million dollars in certificates of indebtedness for the Philippine Islands, in line with earlier congressional acts. These certificates will bear an interest rate of no more than four percent and are redeemable in U.S. gold coin, with proceeds deposited in the Guaranty Trust Company of New York. An additional appropriation of three million thirty thousand dollars is allocated from the gold-standard fund to cover the principal and interest of previously issued certificates. The act aims to expedite the issuance process for the public good and takes effect immediately upon passage.
Quick Answers
- What is An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two about?
- Act No. 1195, enacted on July 18, 1904, authorizes the Secretary of War to issue up to three million dollars in certificates of indebtedness for the Philippine Islands, in line with earlier congressional acts. These certificates will bear an interest rate of no more than four percent and are redeemable in U.S. gold coin, with proceeds deposited in the Guaranty Trust Company of New York. An additional appropriation of three million thirty thousand dollars is allocated from the gold-standard fund to cover the principal and interest of previously issued certificates. The act aims to expedite the issuance process for the public good and takes effect immediately upon passage.
- What type of law is Act No. 1195?
- An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two (Act No. 1195) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two enacted?
- An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two (Act No. 1195) was enacted on Jul 18, 1904.
- What is the citation for An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two?
- An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two, Act No. 1195, Jul 18, 1904 (Philippines)
Law Information
- Reference Number
- Act No. 1195
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 18, 1904
ACT NO. 1195
AN ACT TO AUTHORIZE THE ISSUE OF THREE MILLION DOLLARS OF CERTIFICATES OF INDEBTEDNESS UNDER AND BY AUTHORITY OF SECTION SIX OF THE ACT OF CONGRESS, ENTITLED "AN ACT TO ESTABLISH A STANDARD OF VALUE AND TO PROVIDE FOR A COINAGE SYSTEM IN THE PHILIPPINE ISLANDS," APPROVED MARCH SECOND, NINETEEN HUNDRED AND THREE, IN ADDITION TO THE NINE MILLIONS OF DOLLARS OF CERTIFICATES OF THE SAME CHARACTER ALREADY AUTHORIZED BY ACTS NUMBERED SIX HUNDRED AND NINETY-SIX, SEVEN HUNDRED AND NINETY-TWO, AND ONE THOUSAND AND FIFTY, AND APPROPRIATING THE SUM OF THREE MILLION AND THIRTY THOUSAND DOLLARS, IN GOLD COIN OF THE UNITED STATES, FROM THE GOLD-STANDARD FUND FOR THE PURPOSE OF PAYING THE PRINCIPAL AND THE LAST QUARTERLY INTEREST OF THE SECOND SERIES OF CERTIFICATES OF INDEBTEDNESS ISSUED PURSUANT TO THE PROVISIONS OF SAID ACT NUMBERED SEVEN HUNDRED AND NINETY-TWO
SECTION 1. The Secretary of War is hereby authorized, on behalf of the Government of the Philippine Islands, temporarily to issue certificates of indebtedness to the extent of three million dollars, in money of the United States, bearing interest at a rate not to exceed four per centum annually, payable at periods of three months or more, but not later than one year from the date of issue, in denominations of one thousand dollars, in currency of the United States, and redeemable in gold coin of the United States, which certificates of indebtedness shall be disposed of by the Secretary of War at such favorable rate of interest or premium as he may be able to secure, the proceeds thereof to be deposited with the Guaranty Trust Company of New York, the authorized depository of the Government of the Philippine Islands, to the credit of the Treasury of the Philippine Islands. These certificates are authorized by and shall be issued in accordance with section six of an Act of Congress, approved March second, nineteen hundred and three, entitled "An Act to establish a standard of value and to provide for a coinage system in the Philippine Islands," and the proceeds thereof are to be used as provided in said Act. The certificates issued hereunder shall state upon their face that they have been issued in accordance with the terms of said section and by authority of this Act of the Philippine Commission, and that they are in addition to the issue of nine millions of dollars of similar certificates issued under Acts Numbered Six hundred and ninety-six, Seven hundred and ninety-two, and One thousand and fifty, of the Philippine Commission, enacted March twenty-third, nineteen hundred and three, June thirtieth, nineteen hundred and three, and February twelfth, nineteen hundred and four, respectively.
SECTION 2. The Secretary of War shall report to the Auditor and the Treasurer of the Philippine Islands the amount of the certificates of indebtedness the issue of which is authorized in the previous section, which he shall issue under the authority thereof, the numbers and denominations thereof, the rate of interest to be paid thereon, the time when payable, the premium, if any, at which they were issued, and the total proceeds therefrom; and such facts shall be made a matter of record in the offices of the Auditor and the Treasurer of the Philippine Islands. The certificates to be issued under this Act shall be numbered consecutively, the first certificate thereof bearing the number next after that of the last numbered certificate issued under Act Numbered One thousand and fifty.
SECTION 3. Pursuant to the provisions of section one of Act Numbered Nine hundred and thirty-eight, which declares "That whenever the public interest permits, there may be withdrawn from the gold-standard fund such amount as the Philippine Government may deem proper to pay the principal and interest of all, or any part of, the certificates of indebtedness issued under section six of the said Act of Congress of March second, nineteen hundred and three," there is hereby appropriated from the gold-standard fund the sum of three million and thirty thousand dollars, gold coin of the United States, for the payment in New York, upon maturity, of the principal and last quarterly interest of the second series of certificates of indebtedness, maturing September first, nineteen hundred and four, and issued pursuant to the provisions of section six of said Act of Congress approved March second, nineteen hundred and three, and Act Numbered Seven hundred and ninety-two of the Philippine Commission.
SECTION 4. 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. AHDacC
SECTION 5. This Act shall take effect on its passage.
ENACTED, July 18, 1904.
Cite This Law
An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two, Act No. 1195, Jul 18, 1904 (Philippines)
An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress, Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Nine Millions of Dollars of Certificates of the Same Character Already Authorized By Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-two, and One Thousand and Fifty, and Appropriating the Sum of Three Million and Thirty Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for The Purpose Of Paying The Principal and the Last Quarterly Interest f The Second Series f Certificates f Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Seven Hundred and Ninety-Two, Act No. 1195 (Phil. 1904)
Related Laws
- An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act Of Congress Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Six Millions of Dollars of Certificates of the Same Character Already Authorized by Acts Numbered Six Hundred and Ninety-Six and Seven Hundred and Ninety-Two, and Appropriating the Sumo Three Million and Thirty Thousand Dollars, in Gold Coin of The United States, from the Gold-Standard Fund for the Purpose of Paying the Principal And The Last Quarterly Interest of the First Series of Certificates of Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Six Hundred and Ninety-SixAct No. 1050 • Feb 12, 1904 • Statutes
- An Act to Authorize the Issue of One Million Five Hundred Thousand Dollars of Certificates of Indebtedness under and by Authority of Section Six of the Act of Congress Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Twelve Millions of Dollars of Certificates of the Same Character Already Authorized by Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-Two, One Thousand and Fifty, and Eleven Hundred and Ninety-Five, All Except the Last of which Issues have Been Retired, and Appropriating the Sum of Three Million Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for the Purpose of Paying the Principal of the Fourth Series of Certificates of Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Eleven Hundred and Ninety-FiveAct No. 1377 • Jul 27, 1905 • Statutes
- An Act to Authorize the Issue of One Million Dollars of Certificates of Indebtedness Under and by Authority of Section Six of the Act of Congress Entitled "An Act to Establish a Standard of Value and to Provide for a Coinage System in the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Thirteen Million Five Hundred Thousand Dollars of Certificates of the Same Character Already Authorized by Acts Numbered Six Hundred and Ninety-Six, Seven Hundred and Ninety-Five, and Thirteen Hundred and Seventy-Seven, All Except the Last of Which Issues have been Retired, and Appropriating the Sum of One Million Five Hundred Thousand Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for the Purpose of Paying the Principal of the Fifth Series of Certificates of Indebtedness Issued Pursuant to the Provisions of Said Act Numbered Thirteen Hundred and Seventy-SevenAct No. 1513 • Jul 21, 1906 • Statutes
- An Act to Authorize the Issue of Three Million Dollars of Certificates of Indebtedness under and by Authority of Section Six of the Act of Congress Entitled "An Act Relating to Currency for the Philippine Islands," Approved March Second, Nineteen Hundred and Three, in Addition to the Three Millions of Dollars of Certificates of the Same Character Already Authorized by Act Numbered Six Hundred and Ninety-Six; and Amending Section Two of Act Numbered Six Hundred and Ninety-Six by Striking Out the Requirement that the Certificates of Indebtedness Already Issued shall State Upon their Face that they Were Issued for the Purpose of Purchasing Silver BullionAct No. 792 • Jun 30, 1903 • Statutes
- An Act Appropriating the Sum of Three Million Dollars, in Gold Coin of the United States, from the Gold-Standard Fund for the Purpose of Paying the Principal of the Third Series of Act Numbered One Thousand and FiftyAct No. 1315 • Apr 11, 1905 • Statutes
- An Act Appropriating Ninety Thousand Dollars, in Money of the United States, for the Payment of Interest on Certificates of Indebtedness Issued by the Government of the Philippine Islands under Act of Congress Approved March Second, Nineteen Hundred and ThreeAct No. 1017 • Dec 1, 1903 • Statutes
Browse More Statutes
Explore other laws in the Statutes category.
View All StatutesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law