Items of Interest

A bill prepared by Secretary Taft has been passed by the House providing a civil form of government for the Philippines. It provides that all bonds issued by the Government of the United States or the Government of the Philippines shall be exempt from taxation either by the Government of the United States or the Government of the Philippines. Five per cent bonds to the amount of ten million dollars are authorized for public improvements in the Philippines. These bonds are to be approved by the President and Secretary of War, and are to be used to provide for port and harbor works, roads, bridges, provincial and municipal schools, court houses, and penal institutions.

Five per cent municipal bonds also are authorized to carry on municipal improvements, such bonded indebtedness of any one municipality not to exceed ten per cent of the assessed valuation of property in such municipality.

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"Help Thou mine Unbelief"
April 23, 1904
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