Expenditures 51,051,725 92,003,494 84,453,806 83,549,778 72,538,593 65,677,327 Expense of revenue collection 1,138,904 1,835,078 1,741,202 1,688,370 1,564,726 1,611,533 Operating expense of commercial and industrial units 8,002,820 12,699,877 14,089,177 14,502,504 8,981,853 7,661,867 Public debt 2,087,500 2,310,276 2,308,326 3,459,281 5,189,878 9,698,667 General administration 3,911,100 8,083,832 5,114,677 5,202,098 4,995,090 5,170,217 Protective service 8,261,259 9,696,100 11,185,108 10,373,411 9,284,643 9,393,072 Social improvement 5,680,914 7,987,190 8,498,527 9,093,423 8,818,029 8,317,816 Economic development 3,950,459 6,883,934 9,397,034 10,437,851 8,740,857 7,326,511 Aid to local governments 9,618,425 11,992,281 13,163,155 15,347,095 17,883,667 13,287,409 Retirement gratuities, Act 2589 700,000 800,000 750,000 600,000 500,000 300,000 Emergency service 1,000,000 1,000,000 3,000,000 3,000,000 2,000,000 Outlays and investments 6,700,344 14,102,181 15,206,600 9,845,745 4,579,850 2,910,235 Appropriation balances for public works [9]4,296,754 Appropriation balances for miscellaneous accounts [9]10,315,991 Current surplus at the end ---------- ---------- ---------- ---------- ---------- ---------- of the year 13,425,789 12,424,927 83,494 740,154 2,476,994 275,233 CURRENCY.--At the time of the American occupation, the Mexican dollar and the Spanish peso were in circulation in the Islands as a part of the currency. The Mexican dollar had been introduced because of the trade between the Philippines and Mexico, which was fostered by the Spanish galleons. Besides the Mexican dollar and the Spanish peso, there also circulated the silver peso or dollar of the various South American countries. For fractional currency, however, the Spanish coins predominated. The denominations were half peso, peseta, and media peseta. Gold pieces were of P1, P2, and P4 denominations. The first mint in the Islands was installed during the reign of Isabela II. It was then that the Philippine peso, both in gold and silver, was first coined. [Currency Legislation]