Chapter 51. To amend an Act entitled “An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved August 29, 1916; and to amend an Act entitled “An Act to esta
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CHAP. 51.— An Act To amend an Act entitled “An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved August 29, 1916; and to amend an Act entitled “An Act to establish a standard of value and to provide for a coinage system in the Philippine Islands,” approved March 2, 1903. July 21, 1921. [[H. R. 5756](/us/bill/67/hr/5756).] [[Public, No. 42](/us/pl/67/42).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the Act entitled “AnPhilippine Islands Government.
Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for these islands,” approved August 29, 1916, be amended, as follows: That the proviso of section 11 of said Act be, and the same is Bonds authorized. Allowed indebtedness increased. Vol. 39, p. 548, amended. *Post*, p. 599.hereby, amended to read as follows: “"*Provided, however*, That the entire indebtedness of the Philippine government created by the authority conferred herein shall not exceed at any one time the sum of $30,000,000, exclusive of those obligations known as friar land bonds, nor that of any Province or municipality, a sum in excess of 7 per centum of the aggregate tax valuation of its property at any one time.
In computing the indebtedness of the Philippine government,Secured by Provinces not counted. bonds not to exceed $10,000,000 in amount, issued by that govern-146ment, secured by an equivalent amount of bonds issued by the Provinces or municipalities thereof, shall not be counted,"” Silver certificates. Further issues allowed. Vol. 32, p. 954, amended,That for the purpose set forth in section 6 of the Act approved March 2, 1903, entitled “An Act to establish a standard of value and to provide for a coinage system in the Philippine Islands,” the government of the Philippine Islands may issue temporary certificates of indebtedness under the conditions therein provided, in addition to the amount therein fixed, to a further amount not exceeding $10,000,000.
Philippine legislative act applicable.The act of the Philippine Legislature providing for the issue of temporary certificates of indebtedness within the conditions of section 6 of the Act of March 2, 1903, entitled “An Act to establish a standard of value and to provide for a coinage system in the Philippine Islands,” shall apply to the issue of additional certificates authorized by this Act. Approved, July 21, 1921.