of Posts to any parent applying for them. Children can save their centavos by depositing them in these boxes. At the end of each month, these boxes are taken to the post office of the place where the holder is residing. The postmaster opens the box, and the amount deposited therein. is credited to the account of the holder. The money deposited in the Postal Savings Bank is Children should be taught to save their centavos in a "Home Savings Box." The Bureau of Posts will supply you this box. Apply to the postmaster of your municipality. invested in the purchase of government bonds and other securities. It is also invested in loans on improved lands having buildings of strong materials. For the purpose of extending its assistance to provinces and municipalities, the Bank also loans money to provinces and municipalities, to be used in the construction of water systems, school houses, etc. Thus children depositing money in the Postal Savings Bank indirectly help their towns. How much wiser it is to save money for an education, or to purchase a farm, or to enter business, or as protection against sickness and old age, than to waste it on pleasure, such as fine clothes and dancing! 107. The Philippine National Bank.—The Philippine National Bank is granted many privileges by the Government. It has its principal office in Manila and branches in many provinces. As in other banks, the business of the bank is run by a board of directors, a president, a vice-president, a manager, and other officers. The bank receives deposits and makes loans. Its general purpose is to develop Philippine agriculture and commerce by aiding those engaged in these occupations. 108. Responsibility.-Every one should pay his taxes at the proper time and be glad to assist the Government in this way. One can, if he is a councilor, see that the people's money is not wasted but is expended for public purposes, including the development of agriculture and commerce and the construction of good roads, bridges, irrigation systems, and schools; or, if he is a member of the provincial board or Philippine Legislature, he can strive for the same object in a larger way. One can deposit his money in the Postal Savings Bank, in the Philippine National Bank, or in some other bank, and thus, in helping himself, can also be sure that he is helping his country. Test Questions 1. Why is finance important? 2. What are taxes? Should government money be spent for private purposes or public purposes? 3. Why should a person pay taxes? How do the taxes of the Philippines compare with those in Japan and the United States? 4. Name at least seven kinds of taxes. 5. What are customs duties? Give an example. 6. What is the tariff? What is a duty? 7. Name the principal ports of entry of the Philippine Islands. 8. What are internal revenue taxes? Name the principal things on which internal revenue taxes are paid. 9. Who collects internal revenue taxes? 10. What are cedula taxes? Of what uses are cedulas? II. What are income taxes? Do you know any one in municipality who pays an income tax? 12. What are inheritance taxes? 13. Give the sources of municipal revenue. 14. Give the sources of provincial revenue. your 15. What are real property taxes? What property is exempt from taxation? 16. What are the duties of the provincial assessor in the provinces and of the city assessor in Manila and Baguio? What remedy has the property owner who thinks the assessment of his property is too high? 17. What happens if taxes are not paid during the time announced each year? 18. What are national debts? 19. How much is the debt of the Philippine Government? 20. What debt can the City of Manila incur? What debt can provinces and municipalities incur? 21. About how much money will the central Government spend this year? Give the principal expenditures of the central Government. 22. Give the principal expenditures of a province. Give the principal expenditures of a municipality. 23. What bodies appropriate money? 24. What is a budget? Who submits the budget to the Philippine Legislature? 25. What is an Appropriation Act? What is the Emergency Board? 26. What are the functions of the Bureau of the Treasury? 27. What are the functions of the Bureau of Audits? 28. Give three reasons why we need money. 29. What is the gold basis? Name the Philippine coins. Who issues paper money? 30. What is the Mint of the Philippine Islands? What does it do? How is the silver coin obtained? 31. What is counterfeiting? 32. What are banks? What bureau of the Government examines banks? 33. Describe the postal savings banks. 34. What are saving stamps? What are home saving boxes? Why should you save your money? 35. What does the Philippine National Bank do to promote commerce and industry? PART II ORGANIZATION CHAPTER XII ELECTIONS 109. General Provisions.-Elections are the means by which the people choose men to represent them in the government. The usual method by which voters make known their choice for offices is known as the Australian Ballot System. The idea of this system is to permit the voter to cast his ballot secretly so as to guard his independence in voting and remain free from the influence of wealth and power. Such a system is now in use in the Philippines. Elections are held here every three years. There is an election in 1925, 1928, and so on. The exact date for an election is the first Tuesday of June. The GovernorGeneral can also call special elections. Voters in the Province of Nueva Vizcaya, the Mountain Province, and seven provinces of Mindanao and Sulu do not vote for Representatives in the House of Representatives, or for Senators in the Philippine Senate, or for members of the provincial board. Neither do the voters in the Mountain Province and in the Provinces of Bukidnon, Cotabato, Lanao, and Sulu of Mindanao and |