Section 1
SECTION 1. The Governor-General is hereby authorized, whenever, for any cause, conditions arise resulting in an extraordinary rise in the price of palay, rice or corn, to issue and promulgate, with the consent of the Council of State, temporary rules and emergency measures for carrying out the purposes of this Act, to wit: (a) To prevent the monopoly and hoarding of, and speculation in, palay, rice or corn. (b) To establish and maintain a government control of the distribution or sale of the commodities referred to or have such distribution or sale made by the Government itself. (c) To fix, from time to time, the quantities of palay, rice, or corn that a company or individual may acquire, and the maximum sale price that the industrial or merchant may t demand. (d) To purchase, if necessary, through any Government Department or Bureau or through any company established by the Government, or through any other agency that the Government may designate, the amounts of rice, palay or corn that may be necessary for distribution and resale, preferably and as far as possible at the centers of production.