» 1 156 l TITLE 48;———TERRI1'ORIE§ . of Said civil governor, when such, coins shall cease to be so receivable. The public ofnccs of the government of ‘" said — islands shall ·give a preference for all public dues to the silver pesos and tlxc silver certiilcatcs authorized by this _`chapter,· and only at any time refuse to rccefyo such ·.Mexican dollars "" · and Spanish coins as may appear to bccounterfeit or defective. (Mar. 2; 1903, c. 980, 5 .7,132 Stat. 954.)* j __ ‘*`· 1158. Redemption r§osue .01* worn or defective coins.-- The government of thef Phillipine Islands shall have the power -to° make all necessary approprlations and "all proper regulations for the redemption and reissue of worn or defective coins and for- carrying out all. other provisions of this chapter re4 lating to coinage. (Jnly.1; IQQ2, c. 1369, $.83, -32· Stat. 711.) j__ » rnanomsns _ _ 1171. Franchises; compensation for éproperty takenor dame aged.-The government ot the Philippine Islands may grant. tranclrises and rights,. including the authority .t0’ exercise the right of eminent domain, for the construction and operation. » ofworks of public utility and `servlce, and may authorize said works to be constructed and {maintained over and across the public property of the, United States, including streets, high· - ways, squares, and reservations, and over similar property ot the government of amid _ islands, ·and` may adopt rules and regulations} under which the provincial and municipal governments _ of the islands may grant the right to use and occupy such public property belonging to said Provluces or municipalities.: .Proo£dcd, Tlnat no »_pnv¤ee‘ property shall be damaged or taken for any pnrpose under this section vvithout just. compensation, and that such A authority to take and occupy land shall not authorize the taking; use, or occupation `ot any land except such as is required for the actual- necessary porposen for which the franchise is granted, and that no frauchise or right shall be granted to any individual`: ¤r1n,· or corporation except under the conditions that lt sha11` be .·sub· ’ ject to ninendment,,¤lt;¤cration, or repeal by the (`Jongress of the United States, and that lands or right ot use and occupation cyl lands thus granted anal;} revert to the governments by wlilch /tl1ey were respectirel; ggnted npon the termination of the / franchises and rights under which they were granted or upon _ their revocation or repeal. All franchises or rlshtn Stanted under this section shall forbid _ the leaner of _ stock or Zbonda except in exchange for actual cash or for property at a fair valnation equal to` the par value of the stock or bonds no tuned; shall forth the declaring of stock or bond dividends, and, in the ence of publlescrrice corporations, shall provide . tor. the enectlve regulation ot the charges thereof, for o the om•::ial‘—m on and regulation of the books and acconnta ot anon corporations, and ·i’or the payment ot a reasonable per-n ccntage of gw eIarninga‘lnto- the trmanry of the Philippine Islands or of the Province or municipality within L which auch franchises are granted. and exercised. (Ang. W, 1918, c. Qld, $·%,39Sta_t.5&5.) Q _ _ " · _ - jj _· 3 1172. Employmmt of peraons ,_ as involuntary servitude; 'P@Bltya········It shall be unlawful for any corporation orgnnlgcd nndcr this chapter, or for any person, company, or corporation- _ receiving any grant, franchise. or concession front the government of the Philippine Islands, to noe, ~ employ, or contract for the labor ot persons held in lnyolnntary servitnde.` Any - person, commny, or corporation ao ivlolating the provisions · ot this chapter shall tortcit all charters, grants, or franchisee tor doing business ln sold islands, in an action or proceeding brought for that purpose in any` court of competmt jurisdiction by any omcer of the Pnillpplne government or on the complaint lo! any citizen of ¤the Phlllpplnw ·under· anclx regulations and rules as the Philippine Legislature shall, prescribe and in addition shall be deemed guilty. of an ottenso andsnall
x `\ . . ~ AND INSULAIQ PO§SE8SION8 1634 . be punished by a nne of not more-- than $10,000. "(Aug, 29; t -1916, e. 410, 5 28, 39 Stat. 555.).- · _, _ " . ° 1173. Cnrpontiems not te engage in teal estate bhsiness; - · ownership of real esthte restricted.-—N<> corporation shan be , authorized- to conduct the business qt bnyig end. selling rea; estate or be permitted to hold or ewn tml e ate except such as may .. be reasonably necessary- to `enabie it te cntry bout the » · purposes for whiéh it is created, md every. wfpcmticu an.` _thorizei1 to `-engage in _ agriculture shall by _ its charter bg. ‘1'€StI°iCt€¢ to · the cyqnembip and control eg not to exceed eng thousand and twenty·io¤r hectara of land `; ·and— it shall, he unlawful for any membe; ot a corporation engaged in agriculture mj mining and for any cerp0m¤<m ofgnnixed for any . purp0se`exeept‘ irrigation to be in nnywine interuted in any other corporation engnged agriculture or in mining. ‘ Cor.- pmnong,. howeyer, may teen funds npen real-mate security end purchase teal estate when necew ter the polleetion et Q, loans, but they shaltdtspwe 0{real wtnte w ebtnimd within 0 _ y nve years afte1*"·receiying the, title, Ccrpmatiens mst- er-· gunlzed in the Philippine Islnndé, and doing bmi@ therein, yshall be bound by, the provisions, of thi; section no tar ne they ape applicable. . (July 1,1902, e. Bw, { 75, 32 Stat. 709.) . ~ _ ‘GOVEBNMEN'1‘,_ MUNICIPAL, AND RAILWAY BONDS 1191. Bond issues tc anticipate tue; had ymeme; limitaz tidns; government indebte@».eWbere necessary te antici- ’ pate taxes and _;•evenues,_ bonds and other ebligntiens may he Jenner} by the. Philippine governmnt er any previnciaf or . . `municipal government therein, ns may bé provided hy? law and " to protect the public credit: hmeeeer, That the entire`, indebtedness —ot· the Phitippine government created by the anthotity — conferred under this section, exclusive of t1fonc~eb1i· gnticns knpwn as i'rinr_ land bends, éhall not exceed` nt amy _· one time 10 pei eentmn of the ngmegatey tnx‘ ‘vn1¤ntlen~et its property, nor that of- the dty nt Manga 10 per centnm 4.·f._ the d§xregate_ tax Valuation of its preperty, nor that of nny · Province dr municipality, •. sum in excess of 7 centnm of- the aggregate tax ynlunticu of ·ita property at any one . time. In computing the indebtednm ot the Philippine geve:~·n·b ‘ ment,·b0uds_ not to exceed $10,000,000 in amount; mum by that gcyemment, secured by nn eqnivelmt amount ef. heme issued by the Eroyinéw or municimhdes.-theteotvehnkl net be counted. ·(A¤g. 29, 1916, cg 416, {11, 39 Stat. 548; July 21, 1921, c. 51,f `Q2 ·Stnt. .145; May 31, 1922, c. 208, 42 Stnti 5%.) _`; ` _1192..Same;`§sn¤e fer public h¤prey@tents.—-Fer the pm-. pose of prbyiding {nuns to construct port and harbor works, bridm roads, buildings for provincial ann mnnicimi wheels, _cem·thenses,` penal inetitutimikt and other public, improvements {br the development of the Philippine Islands by the gemrel government tbereef, the mid mvemwt je antherized from time to time to incur indebtednm, borrow money, and te issue and eel} there£br‘ (at not less than png- value-in gold bein. ef the United 8tates)‘1·égistered br eonpen bends et such dey nominations and myable at inch er times, net latex- than ' forty yam utter Febrnegy 8,1905, ns my be determined by "seld government, with intermt tbetecn not te excwd 459 WF c0¤tqm_ per annum: Premded, That the entire indebtedness et . said government by the `nntnerity conferred by this ¤ muon shall not ·e;ceM at any one time the sum et $5,000,000. And provided f••rtIwr,_1‘hnt the law ot said government creat— ing the infebtednew end authorizing the {mine of the bonds unklef this section shall bs. ammved by the President 0; the United States. _(Feb. 0, 1905, e. 453, { 2, % Stat. @9.) _ ' 1193. Govenment bends te be exempt from taxation.-—..\u bends issued by the government. et the Philippine Islnnde. or 0 by its authority, shell be exempt from taxntien by the Gm·ern— ment ez the United States, nr by the g·0vernment· ot_ the Philip- $"\·\
