Preamble
WHEREAS, "highgrading" or the theft of gold has become rampant in the mining areas where gold is produced because of the high price that this precious metal now commands in the free market; WHEREAS, gold mining is one of the industries that the Government encourages because of the role that gold plays in our economy not only as an important part of our international reserves, but also as one of our principal sources of foreign exchange; WHEREAS, the existing laws have proved inadequate in curbing highgrading because of the difficulty in apprehending highgraders and also because of the light penalties usually imposed on the accused due to the relatively low value which the Courts give to stolen gold-bearing ores or rocks; WHEREAS, "highgrading" causes damage not only to the operator of the mining claims, but also to the Government which loses the foreign exchange and the taxes the stolen gold could have generated and, worse, it promotes black-marketing and smuggling abroad of this precious metal; and WHEREAS, one of the principal aims of our New Society is to stamp out all forms of lawlessness to promote the social and economic well-being of our people; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by Constitution, do hereby order and decree that: