p. 9 | In the Philippines.-

Pacific Press Publishing Company · Oakland, California · Mar 4, 1903

In the Philippines.—

The currency of the Philippines has never been satisfactory to the representatives of the American Government there, and the constantly decreasing value of the silver currency has made the conduct of business in the islands very precarious. Appeals have been made to the government at Washington for relief in this matter, and it is in answer to these appeals that a bill has been passed by both branches of Congress providing a currency for the islands. This bill has now gone to conference, and may be altered before its final passage; but as it stands now the “gold peso” is made the unit of value. This will be one-half the value of the American gold dollar. The Philippine Government will coin silver pesos to represent this gold peso, and these will be apparently the exact weight of the American silver dollar. By this arrangement the American dollar, tho of the same weight, will still be twice the value of the Philippine coin. This law goes into effect when the Philippine Government has coined 5,000,000 pesos. It also authorizes the Philippine Government to coin an additional 75,000,000 pesos, which shall be legal tender, except where provided by contract. The troublesome Moros of the Island of Mindanao have at last signed a treaty of peace, and the American flag is now flying over their stronghold, while the American officer in that vicinity has been made one of their “datos,” or priestly officers. The treaty was sworn to over a copy of the Koran. A band of rebels is again operating within a few miles of the city of Manila under the command of General San Miguel. They have captured a number of small bodies of native and American scouts, but most of these have been released. An effort is now being made to find and capture these ladrones.