Prohibiting Export of Philippine Silver Coins

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Act No. 1411: Prohibiting Export of Philippine Silver Coins

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Title Supreme Court: Prohibiting Export of Philippine Silver Coins

Law: Act No. 1411

Decision Date: Nov 17, 1905

In order to maintain the parity of the Philippine currency, Act No. 1411 prohibits the exportation of Philippine silver coins and bullion, with violators facing forfeiture, fines, and imprisonment.

exportation prohibition

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Criminal Offense and Penalties for Illegal Exportation

Exportation or attempted exportation of Philippine silver coins or bullion against the law is a criminal offense.
Penalties include fines up to 10,000 pesos, imprisonment up to one year, or both, imposed at the court's discretion.
This is in addition to the forfeiture of the illegal coins or bullion.

Enforcement and Handling of Seized Coins and Bullion

Collectors of customs for the Philippine Islands are tasked with enforcing the law.
Enforcement aligns with provisions of Acts Nos. 355 (as amended), 864 (as amended), and 1405.
Unlike other cases, seized coins or bullion under this act are not auctioned.
Instead, seized items are credited to the Philippine Treasury's gold-standard fund.
Informants' rewards are paid from the gold-standard fund by the Treasurer.

Expedited Legislative Process

The Act recognizes the public interest in rapid implementation.
Consequently, its passage was expedited under section two of an earlier procedural Act (passed September 26, 1900).

Effectivity of the Act

The law takes effect immediately upon its passage on November 17, 1905.

END