Question & AnswerQ&A (Act No. 573)
The main purpose of Act No. 573 is to direct the Insular Treasurer, custodian of silver and other metals seized from the steamer Don Juan by Spanish Government officers in July 1893, to deliver eighty percent of the metals to the respective claimants and owners as adjudged by Philippine courts.
The Insular Treasurer of the Philippine Islands is directed to deliver the silver and other metals.
Eighty percent (80%) of the seized silver and other metals is to be delivered to the claimants or their legal representatives.
The named claimants include Baltazar Marti (manager of Millat, Marti and Mitjans), Demetrio Inchausti, Jose Aristegui, Andres Abrisqueta, Santiago Blanco, Arturo Barra, and Domingo C. Orlac.
Francisco Escudero, the fiscal officer, is authorized to be paid from the remaining twenty percent (20%) of the silver now in the Treasury as adjudged due to him under the decree of the Intendencia.
The silver that has lost its character as circulating medium is to be weighed and appraised by the Insular Treasurer; the distributees must pay the 20% fine in current money, with agreement from all parties. Disputes on decree interpretations shall be finally resolved by the Secretary of Finance and Justice.
Because there is no mint in the Philippines to melt down and appraise the silver as originally decreed, the Act requires the distributees' agreement on the valuation, fine, and dispute resolution procedures to ensure proper payment and distribution.
The Secretary of Finance and Justice is given final authority to construe any disagreements on the proper interpretation of the decrees.
The Act took effect immediately upon its passage on January 2, 1903.
The public good requiring the speedy enactment of this bill led to its expedited passage in accordance with Section 2 of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September 26, 1900.