Section 10
SEC. 10. The silver certificates which the Treasurer of the Philippine Islands is authorized to issue upon receiving deposits of the standard Philippine pesos, in accordance with the provisions of section eight of the said Act of Congress approved March second, nineteen hundred and three, shall be prepared and delivered to the Treasurer of the Philippine Islands, safeguarded, issued, withdrawn, and canceled or destroyed, and a record of such transactions be kept, in the manner in this section provided. (a) The necessary drawings, designs, plates, and engravings for such certificates, and the printing thereof, shall be made and executed through the Secretary of the Treasury of the United States, upon request of the Government of the Philippine Islands, in accordance with section twelve of said Act of Congress of March second, nineteen hundred and three, and the amount of such certificates and the denominations thereof shall be determined, from time to time, by resolution of the Philippine Commission. (b) Such certificates, when completed at the Bureau of Engraving and Printing at Washington, shall be delivered without the seal of the Treasury of the Philippine Government, and shall be to that extent incomplete. In such uncompleted state they shall be delivered to the Bureau of Insular Affairs of the War Department at Washington, the Chief of which Bureau shall receipt therefor in the name of the Government of the Philippine Islands, after having verified the count thereof. The Chief of the Bureau of Insular Affairs shall thereupon transmit such certificates to the Treasurer of the Philippine Islands, and shall also give notice of the Auditor for the Philippine Islands, of the denominations and amount of silver certificates transmitted to the Treasurer of the Philippine Islands. Upon the delivery of such certificates to the Treasurer of the Philippine Islands, the Auditor shall receive from the Treasurer of the Philippine islands a receipt in duplicate of the denominations and amount of the certificates so received upon verifying the count thereof; and of the duplicate receipts so received the Auditor shall retain one, and the other shall be transmitted by the Auditor with his counter signature to the Chief of the Bureau of Insular Affairs at Washington. (c) Upon receiving such certificates, the Treasurer of the Philippine Islands shall cause them to be put through a printing press, which shall imprint thereon the seal and omitted marks, if any, and shall cause the sheets thereof to be separated into single certificates of a uniform size and done up in packages of convenient size enclosed in paper straps upon which are printed the denomination and amount included therein, verifying the count in all cases, and employing such safeguards in the printing, cutting, and making up of packages as shall preserve the certificates free from all opportunity for loss by theft. The bundles shall thereupon be deposited in a vault, called the reserve vault, where they shall remain until required for circulation. While the certificates remain in the reserve vault, they shall not be considered as available cash for the Government, and shall not appear as such on the cash books of the Treasury, though the Treasurer shall be held responsible for the same as money. (d) From time to time, the Treasurer of the Philippine Islands shall withdraw such amount of silver certificates from the reserve vault as may be required to meet the demands for their purchase in accordance with the provisions of section eight of said Act of Congress of March second, nineteen hundred and three. All certificates taken from the reserve vault shall thereafter be treated as available cash for the Government. The pesos received in exchange for the certificates sold shall be deposited in the reserve vault, shall be held for the payment of said certificates on demand, and shall constitute a trust fund to be used for no other purpose. (e) Upon the delivery to the Auditor for the Philippine Islands of the receipt of the Treasurer for the uncompleted certificates transmitted to the Treasury by the Chief of the Bureau of Insular Affairs at Washington, the Auditor for the Philippine Islands shall enter on a book kept by him for that purpose the denominations, serial numbers, and amounts delivered to the Treasurer of the Philippine Islands. The Treasurer of the Philippine Islands shall keep an independent set of books in which shall be recorded the amount, the denominations, and the serial numbers of the certificates which are daily put into and withdrawn from said reserve vault. The Treasurer of the Philippine Islands shall furnish a transcript of the foregoing daily entries to the Auditor, who shall enter the same upon his books. (f) When certificates mutilated or otherwise unfit for circulation shall be paid into the Insular Treasury, they shall not be reissued, but shall be retained in the Treasury for future destruction, and from time to time, when a sufficient amount shall have been accumulated, the Civil Governor, the Secretary of Finance and Justice, and a committee of two accountants to be designated by said Secretary shall, in the presence of the Treasurer, the Auditor, and the Chief of the Division of Currency, after noting the amounts, denominations, and numbers of such certificates, completely destroy the same by burning, and thereafter the Treasurer shall be credited on his accounts in accordance with this action. The credit allowed shall be based upon the written report of the committee of accountants, attested by the Civil Governor, the Secretary of Finance and Justice, and the Auditor for the Philippine Islands.