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<img loading="lazy" src="https://cdn.kahimyang.com/resources/loan_20_mil.webp" alt="Aguinaldo' decree authorizing the government to contracta loan of 20 million pesos" />
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<p>
The decree also authorized the circulation of paper money worth 3 million pesos redeemable in three years.
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<p>
<i>
<b>Source:</b><br/>
The laws of the first Philippine Republic (the laws of Malolos) 1898-1899.  Compiled & edited by Sulpicio Guevara, 1972.
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November 26, 1898: Aguinaldo decreed authorizing the government to contract a loan of 20 million pesos