DECLARING THE PERIOD FROM JUNE 1, 1954, TO MAY 31, 1955, AS THRIFT YEAR

WHEREAS, the effective prosecution of the
nation’s investment program demands that the savings of the people be utilized
in the financing of productive enterprises and activities that will accelerate
our economic and industrial development; and

WHEREAS, in the light of the foregoing
imperative, it is desirable that the attention of the people be drawn to the
necessity of practising thrift to the highest degree as a matter of patriotic
duty;

Now, THEREFORE, I, Ramon Magsaysay, President of
the Philippines, by virtue of, the powers vested in me by law, do hereby
declare the period from June 1, 1954, to May 31, 1955, as Thrift Year, during
which a thrift campaign will be undertaken under the sponsorship of the Bankers
Association of the Philippines. I call upon all banks and financial
institutions operating in this country, and upon all industrialists,
businessmen, farmers and the people as a whole to lend their cooperation and
assistance in making this campaign successful.

IN WITNESS WHEREOF, I have hereunto set my hand
and caused the seal of the Republic of the Philippines to be affixed.

Done in the City of Manila, this 9th day of May,
in the year of Our Lord nineteen hundred and fifty-four, and of the
Independence of the Philippines, the eighth.

(SGD.) RAMON MAGSAYSAY
President of the Philippines

By the President:

(SGD.) FRED RUIZ CASTRO
Executive Secretary