Section 5
SEC. 5. This Act shall take effect only upon the express or implicit approval of the President of the United States in the event that the Congress of the United States by appropriate legislation increases the authorized debt limit of the Philippine Islands so as to permit the issue of bonds provided in section three of this Act. Section two hereof shall only become operative as and when the proceeds of the sale of the bonds shall actually have been deposited to-the credit of the Treasury of the Philippine Islands as provided in section three of this Act, and, until such proceeds of the sale of said bonds shall have been so deposited, the provisions of law wheretofore in force in respect to the maintenance and operation of the "Currency Reserve Fund" shall continue in effect. Approved, June 13, 1922.