CONGRESS. (THE PHILIPPINE ISLANDS.) 



177 



I 



deemed guilty of an offense, and shall be pun- 

 ished by a fine of not less than $10,000. 



" SEC. 75. That no corporation shall be author- 

 ized to conduct the business of buying and selling 

 real estate or be permitted to hold or own real 

 estate except such as may be reasonably neces- 

 sary to enable it to carry out the purposes for 

 which it is created, and every corporation au- 

 thorized to engage in agriculture shall by its 

 charter be restricted to the ownership and con- 

 trol of not to exceed 1,024 hectares of land; and 

 it shall be unlawful for any member of a corpora- 

 tion engaged in agriculture or mining and for 

 any corporation organized for any purpose except 

 irrigation to be in any wise interested in any 

 other corporation engaged in agriculture or in 

 mining. Corporations, however, may loan funds 

 upon real-estate security and purchase real estate 

 when necessary for the collection of loans, but 

 they shall dispose of real estate so obtained with- 

 in five years after receiving the title. Corpora- 

 tions not organized in the Philippine Islands, and 

 doing business therein, shall be bound by the 

 provisions of this section so far as they are ap- 

 plicable. 



" COINAGE. 



" SEC. 76. That the government of the Philip- 

 pine Islands is hereby authorized to establish a 

 mint at the city of Manila, in said islands, for 

 coinage purposes, and the coins hereinafter au- 

 thorized may be coined at said mint. And the 

 said government is hereby authorized to enact 

 laws necessary for such establishment: Provided, 

 That the laws of the United States relating to 

 mints and coinage, so far as applicable, are here- 

 by extended to the coinage of said islands. 



" SEC. 77. That the government of the Philip- 

 pine Islands is authorized to coin, for use in said 

 islands, a coin of the denomination of 50 centavos 

 and of the weight of 192^,% grains, a coin of the 

 denomination of 20 centavos and of the weight of 

 77^s grains, and a coin of the denomination of 

 10 centavos and of the weight of 38 -^ - grains, 

 and the standard of said silver coins shall be such 

 that of 1,000 parts by weight 900 shall be of pure 

 metal and 100 of alloy, and the alloy shall be of 

 copper. 



" SEC. 78. That the subsidiary silver coins au- 

 thorized by the preceding section shall be coined 

 under the authority of the government of the 

 Philippine Islands in such amounts as it may 

 determine, with the approval of the Secretary of 

 War of the United States, from silver bullion pur- 

 chased by said government, with the approval of 

 thexSecretary of War of the United States: Pro- 

 vided, That said government may in addition and 

 in its discretion recoin the Spanish Filipino dol- 

 lars and subsidiary silver coins issued under the 

 authority of the Spanish Government for use in 

 said islands into the subsidiary coins provided 

 for in the preceding section at such rate and 

 under such regulations as it may prescribe, and 

 the subsidiary silver coins authorized by this 

 section shall be legal tender in said islands to the 

 amount of $10. 



" SEC. 79. That the government of the Philip- 

 pine Islands is also authorized to issue minor 

 coins of the denominations of i centavo, 1 centavo, 

 and 5 centavos, and such minor coins shall be 

 legal tender in said islands for amounts not ex- 

 ceeding $1. The alloy of the 5-centavo piece shall 

 be of copper and nickel, to be composed of | cop- 

 per and i nickel. The alloy of the 1-centavo and 

 4-centavo pieces shall be 95. per centum of copper 

 and 5 per centum of tin and zinc, in such propor- 

 tions as shall be determined by said government. 

 "Tie weight of the 5-centavo piece shall be 77-i^fo 

 VOL. XLII. 12 A 



grains troy, and of the 1-centavo piece 80 grains 

 troy, and of the i-centavo piece 40 grains troy. 



" SEC. 80. That for the purchase of metal for 

 the subsidiary and minor coinage, authorized by 

 the preceding sections, an appropriation may be 

 made by the government of the Philippine Islands 

 from its current funds, which shall be reimbursed 

 from the coinage under said sections; and the 

 gain or seigniorage arising therefrom shall be 

 paid into the treasury of said islands. 



" SEC. 81. That the subsidiary and minor coin- 

 age hereinbefore authorized may be coined at the 

 mint of the government of the Philippine Islands 

 at Manila, or arrangements may be made by the 

 said government with the Secretary of the Treas- 

 ury of the United States for their coinage at any 

 of the mints of the United States, at a charge 

 covering the reasonable cost of the work. 



"SEC. 82. That the subsidiary and minor coin- 

 age hereinbefore authorized shall bear devices 

 and -inscriptions to be prescribed by the govern- 

 ment of the Philippine Islands and such devices 

 and inscriptions shall express the sovereignty of 

 the United States, that it is a coin of the Philip- 

 pine Islands, the denomination of the coin, and 

 the year of the coinage. 



"SEC. 83. That the government of the Philip- 

 pine Islands shall have the power to make all 

 necessary appropriations and all proper regula- 

 tions for the redemption and reissue of worn or 

 defective coins and for carrying out all other pro- 

 visions of this act relating to coinage. 



" SEC. 84. That the laws relating to entry, 

 clearance, and manifests of steamships and other 

 vessels arriving from or going to foreign ports 

 shall apply to voyages each way between the 

 Philippine Islands and the United States and 

 the possessions thereof, and all laws relating to 

 the collection and protection of customs duties 

 not inconsistent with the act of Congress of 

 March 8, 1902, ' temporarily to provide revenue 

 for the Philippine Islands,' shall apply in the case 

 of vessels and goods arriving from said islands in 

 the United States and its aforesaid possessions. 



" The laws relating to seamen on foreign voy- 

 ages shall apply to seamen on vessels going from 

 the United States and its possessions aforesaid to 

 said islands, the customs officers there being for 

 this purpose substituted for consular officers in 

 foreign ports. 



" The provisions of chapters vi and vii, title 

 48, Revised Statutes, so far as now in force, and 

 any amendments thereof, shall apply to vessels 

 making voyages either way between ports of the 

 United States or its aforesaid possessions and 

 ports in said islands; and the provisions of law 

 relating to the public health and quarantine shall 

 apply in the case of all vessels entering a port 

 of the United States or its aforesaid possessions 

 from said islands, where the customs officers at 

 the port of departure shall perform the duties 

 required by such law of consular officers in for- 

 eign ports. 



" Section 3005. Revised Statutes, as amended, 

 and other existing laws concerning the transit 

 of merchandise through the United States, shall 

 apply to merchandise arriving at any port of the 

 United States destined for any of its insular and 

 continental possessions, or destined from any of 

 them to foreign countries. 



" Nothing in this act shall be held to repeal 

 or alter any part of the act of March 8, 1902, 

 aforesaid, or to apply to Guam, Tutuila, or 

 Manna, except that section 8 of an act entitled 

 ' An Act to revise and amend the tariff laws of 

 the Philippine Archipelago.' enacted by the Phil- 

 ippine Commission on the 17th of September, 1901, 



