Act No. 1737




[ Act No. 1737, October 02, 1907 ] AN ACT TO AMEND SECTION ONE OF ACT NUMBERED FOURTEEN AMENDING NIL. HUNDRED AND ELEVEN, ENTITLED "AN ACT FOR THE PURPOSE OF MAINTAINING THE PARITY OF THE PHILIPPINE CURRENCY IN ACCORDANCE WITH THE PROVISIONS OF SECTIONS ONE AND SIX OF THE ACT OF CONGRESS APPROVED MARCH SECOND, NINETEEN HUNDRED AND THREE, BY PROHIBITING THE EXPORTATION FROM THE PHILIPPINE ISLANDS OF PHILIPPINE SILVER COINS, AND FOR OTHER PURPOSES," BY PROVIDING THAT THE PROHIBITION THEREIN CONTAINED SHALL NOT APPLY TO SUMS OF TWENTY-FIVE PESOS OR LESS OF THE NEW COINS AUTHORIZED BY ACT NUMBERED FIFTEEN HUNDRED AND SIXTY-FOUR AND CARRIED BY PASSENGERS LEAVING THE PHILIPPINE ISLANDS. By authority of the United States, be it enacted by the Philippine Commission, that: Section 1. Section one of Act Numbered Fourteen hundred and eleven, entitled "An Act for the purpose of maintaining the parity of the Philippine currency in accordance with the provisions of sections one and six of the Act of Congress approved March second, nineteen hundred and three, by prohibiting the exportation from the Philippine Islands of Philippine silver coins, and for other purposes," is hereby amended to read as follows: "Section 1. The exportation from the Philippine Islands of Philippine silver coins, coined by authority of the Act of Congress approved March second, nineteen hundred and three, or of bullion made by melting or otherwise mutilating such coins, is hereby prohibited, and any of the aforementioned silver coins or bullion which is exported, or of which the exportation is attempted subsequent to the passage of this Act, and contrary to its provisions, shall be liable to forfeiture under due process of law, and one-third of the sum or value of bullion so forfeited shall be payable to the person upon whose information, given to the proper authorities, the seizure of the money or bullion so forfeited is made, and the oilier two-thirds shall be payable to the Philippine Government, and accrue to the gold-standard fund: Provided, That the prohibition herein contained shall not apply to sums of twenty-five pesos or less of the new coins authorized by Act Numbered Fifteen hundred and sixty-four and carried by passengers leaving the Philippine Islands." Section 2. 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.ℒαwρhi৷ Section 3. This Act shall take effect on its passage. Enacted, October 2, 1907. The Lawphil Project - Arellano Law Foundation