Section 2
SEC. 2. The last paragraph of section one thousand six hundred and twenty-four of the Administrative Code, as amended, is herebby further amended to read as follows: "The 'Exchange Standard Fund' shall be increased in amount through the additions provided for in section sixteen hundred and twenty-two of this Act until the amount of the said fund shall be equal to twenty-five per centum of the money of the Philippines in circulation and available for circulation, including both coin and treasury certificates, except treasury certificates covered by dollar deposits with the Secretary of the Treasury of the United States or with such Federal Reserve Banks or member banks of the Federal Reserve system in the United States as may from time to time be designated by the President of the Philippines to be branches of the Philippine Treasury for receiving such deposits. Any surplus in the said fund in excess of the said twenty-five per centum may be transferred, in whole or in part, to the general fund of the National Treasury upon the recommendation of the Secreatary of Finance and the approval of the President of the Philippines: Provided, That in calculating the twenty-five per centum the proceeds of the sale of outstanding certificates of indebtedness shall not be included: And provided, further, That no surplus shall be so transferred while certificates of indebtedness are outstanding."