Question & AnswerQ&A (EXECUTIVE ORDER NO. 4)
The main purpose of Act No. 1411 is to maintain the parity of the Philippine currency by prohibiting the exportation of Philippine silver coins, or bullion made from them, to uphold the provisions of sections one and six of the Act of Congress approved March 2, 1903.
Act No. 1411 specifically prohibits the exportation of Philippine silver coins coined by authority of the Act of Congress approved March 2, 1903, or bullion made by melting or mutilating such coins.
The penalty includes forfeiture of the coins or bullion, a fine not exceeding ten thousand pesos, imprisonment for a period not exceeding one year, or both, at the discretion of the court.
Yes, the prohibition does not apply to sums of twenty-five pesos or less carried by passengers leaving the Philippine Islands.
The collectors of customs for the Philippine Islands are responsible for enforcing the provisions of this Act.
The forfeited coins or bullion are not sold at auction but are paid into the Treasury of the Philippine Islands to the credit of the gold-standard fund.
One-third of the sum or value of bullion forfeited is payable to the informer upon whose information the seizure was made.
Two-thirds of the sum or value of the bullion forfeited shall be payable to the Philippine Government and shall accrue to the gold-standard fund.
The forfeiture of the silver coins or bullion must be done under due process of law.
Act No. 1411 took effect immediately upon its passage on November 17, 1905.