Page:United States Statutes at Large Volume 32 Part 1.djvu/1018

 FIFTY-SEVENTH CONGRESS. Sess. II. Ch. 980. 1903: 953 Sec.  That in addition to the coinage authorized for use in the fg5f' °‘¥§f· Philippine Islands by the Act of July first, nineteen hundred and two, `p° I ` entitled "An Act temporarily to provide for the administration of the aifa1rs of civil government in the Philippine Islands, and for other purposes," the government of the Philippine Islands is authorized to _ Silver peso author com to an amount not exceeding seventy-five million pesos, for use in md' said islands, a silver coin of the denomination of one peso and of the weight of four hundred and sixteen grains, and the standard of said silver coins shall be such that of one thousand parts, by weight, nine hundred shall be of pure metal and one hundred of alloy, and the alloy shall be of copper. Sec. 3. That the silver Philippine peso authorized by this Act shall To bwlezalwnder. be legal tender in the Philippine Islands for all debts, public and rivate, unless otherwise specifically provided by contract: Provieid, Prvvfw That debts contracted prior to the thirty-first day of December, Payment of debts nineteen hundred and three, may be paid in the legal-tender currency fi23T m D°°°mb" m` of said islands existing at the time of the making of said contracts, unless otherwise expressly provided by contract. Sec. 4. That section seventy-seven of the Act of July first, nineteen hundred and two, is hereby amended so that it shall read: . "‘ Sec. 77. That the government of the Philippine Islands is author- cO§1§_*’°*“¤’Y Sum ized to coin for use in said islands a coin of the denomination of fifty Aviée. p._v10. centavos and of the weight of two hundred and eight grains, a coin of W°1gh°"‘°’°”°°‘ the denomination of twenty oentavos and of the weight of eighty-three and ten one-hundredths grains, and a coin of the denomination of ten - centavos and of the weight of forty-one and fifty-five one-hundredths grains; and the standard of said silver coins shall be such that of one thousand parts, by weight, nine hundred shall be of pure metal and one hundred of alloy, and the alloy shall be of copper} _ Sec. 5. That the Philippine peso herein authorized and the sub- b,,*f§0l’,"pf,‘};‘§,‘f,‘§cf,‘t°m sidiary silver coins authorized by section seventy-seven of the Act of July first, nineteen hundred and two, as amended by the preceding section of this Act, shall be coined under the authority of the government of the Philip ine Islands in such amounts as it may determine, with the approval ot) the Secretary of War of the United States, except as limited in section two of this Act, from silver bullion purchased by said government, with the approval of the Secretary of Wvar of the United States: Provided, That said government may, in its discretion, £z·£·:· B mm in lieu of the purchase of bullion, recoin any of the silver coins now em. ug p in or hereafter received by the treasur of the government of the Philip ine Islands into the coins provideclv for in this Act or in the Act of J ully first, nineteen hundred and two, as herein amended, at such rate and under such re ulations as it may prescribe; and the subsidiary Legal tenderynlne Silver coins authorizedg by this Act and by the Act of July first, nine- “"“ Sm""' °`“"“‘ teen hundred and two, shall be legal tender in said islands to the amount of ten dollars. _ _ Sec. 6, That the coinage authorized by this Act shall be S\1bj€Ct to ,Ii‘,ll{{°;ll?{ff‘ °"" the conditions and limitations of the provisions of the Act of July first, nineteen hundred and two, entitled "An Act temporarily to provide for the administration of the affairs of civil government in the Philippine Islands, and for other purposes," except as herein otherwise pro- _ vided; and the government of the Philippine Islands may adopt such psig1Q);;];;;}`";,,,?; measures as it may deem proper, not inconsistent with said Act of July and com pesos. first, nineteen hundred and two, to maintain the value of the silver Philippine peso at the rate of one old peso, and in order to maintain such parity between said silver Philippine pesos and, the gold pesos herein provided for, and for no other purpose, may issue temporary C€§g$aQ;S fggfgg certificates of indebtedness, bearing interest at aiate not to exceed edness. four per centum annually, payable at periods of three months or more, but not later than one year from the date of issue, which shall be in