EXECUTIVE ORDER NO. 408

: Republic Act No. 509 is titled "An Act Declaring National Policy, Authorizing the President of the Philippines for a Limited Period to Fix Ceiling Prices of Commodities and to Promulgate Rules and Regulations Regarding Prices of Commodities to Effectuate Such Policy, and Authorizing the Appropriation of a Certain Sum for the Purpose."
: The Executive Order set new ceiling prices for Galvanized Plain Wire (imported construction material) and Shoe Materials (imported).
: Section 1 amends the ceiling prices for Galvanized Plain Wire in various sizes with specific wholesale and retail ceiling prices per 100-pound roll.
: Section 2 sets ceiling prices for finished upper leather in different types and colors, imitation suede ends, heeling board, sole leather bellies and butts, black full heels, shoe strings, and possaic cotton shoe thread.
: Section 3 provides that any commodity not included in previous Executive Orders fixing ceiling prices, but having the same size and specification as those listed, shall have the same ceiling price.
: Yes, Section 4 states that the ceiling prices fixed in the Order include the 7% Sales Tax and 1% Municipal Tax.
: Section 5 states that the Executive Order shall take effect five days from February 3, 1951.
: The purpose is to regulate prices of essential commodities to protect consumers and stabilize the economy by preventing price gouging and inflation during a specific period.