[ Act No. 456, September 09, 1902 ]
AN ACT AMENDING RULE FIFTY OF SECTION ONE OF ACT NUMBERED NINETY, RELATIVE TO THE MANNER IN WHICH THE TREASURER OF THE ARCHIPELAGO SHALL KEEP HIS ACCOUNTS AND RENDER THE SAME TO THE SECRETARY OF WAR; AND REPEALING THAT PART OF SECTION THREE OF ACT NUMBERED FOUR HUNDRED AND THIRTY WHICH PROHIBITS THE MAKING OF CONTRACTS PAYABLE ONLY IN UNITED STATES CURRENCY.
By authority of the United States, be it enacted by the Philippine Commission, that:
Section 1. Rule fifty of section one of Act Numbered Ninety, entitled "An Act reciting an executive order of the President of the United States, amending the executive order of May eighth, eighteen hundred and ninety-nine, creating the offices of Auditor for the Islands and thief clerk of the Auditor for the Islands of the Philippine Archipelago, and enacting, with the concurrence and approval of the Secretary of War first had, the rules and instructions relative to the accounting system of the Military Government of the United States in the Islands of the Philippine Archipelago," is hereby amended, by authority of the Secretary of War, by striking out said rule fifty of section one and substituting therefor the following:
" Rule 50. The accounts of the Treasurer shall be kept in the moneys in which actually received and withdrawn, but in all reports made to the Secretary of War the aggregate amount therein shall be converted into money of the United States at the authorized rule of conversion at the close of the month for which the account is rendered. The Treasurer shall also show in said report the distribution of his balance in local currency and United States currency respectively. "
Section 2. That part of section three of Act Numbered Pour hundred and thirty which provides that "no contract or obligation of the Insular Government entered into by the head of any Department, Bureau, or Office shall hereafter be made payable only in United States currency, but may be made payable in United States currency or its equivalent in local currency, at the ratio authorized by the Civil Governor at the time of payment, at the option of the Government," is hereby repealed.
Section 3. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with sect inn two of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twenty-sixth, nineteen hundred.1aшphi1
Section 4. This Act shall take effect on its passage.
Enacted, September 9, 1902.
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