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{
    "localId": "1554455",
    "label": "Puerto Rico - Compact of Permanent Union, October 1975",
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{
    "id": "1554455",
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    "contentType": "document",
    "title": "Puerto Rico - Compact of Permanent Union, October 1975",
    "description": "This file contains a published report of the Ad hoc Advisory Group on Puerto Rico.",
    "citationUrl": "https://catalog.archives.gov/id/1554455",
    "collections": [
        "White House Special Files Unit Files",
        "Issue Decision Papers for the President"
    ],
    "subjects": [
        "Puerto Rico",
        "Intergovernmental relations",
        "Territories and possessions"
    ],
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    "coverageEndDate": {
        "logicalDate": "1975-10-31",
        "month": 10,
        "year": 1975
    },
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{
    "seq": 16,
    "pageIndex": 0,
    "type": "photo",
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    "ocrText": "Puerto Rico and the United States, should clearly, af-\n9. Common Market\nfirmatively and expressly establish the role of mutual\nsecurity and defense.\na. Economic, trade and commercial relations between the\nUnited States and the Free Associated State of Puerto Rico shall\nbe conducted within the framework of the common market here-\ntofore and hereafter established between the United States and the\n8. Currency\nFree Associated State.\nThe currency of the United States shall be the exclusive\nThe Free Associated State shall not impose restrictions, tariffs\ncurrency of Puerto Rico. The laws of the United States relating to\nor taxes of any kind on articles imported into Puerto Rico from\ncurrency, coinage, gold and silver shall apply to Puerto Rico, in\nthe United States, nor shall the United States impose restrictions,\naccordance with their terms.\ntariffs or taxes of any kind on articles imported into the United\nStates from Puerto Rico.\nb. Except as hereinafter provided, laws and tariff provisions of\nthe United States on articles imported from foreign countries shall\n8. Currency\nbe applicable in the Free Associated State.\nThe sharing of a common currency is the third of the\nc. The income from customs duties, licenses for imports,\nfour cornerstones upon which the association between\ntariffs and taxes collected in Puerto Rico, as well as Internal\nPuerto Rico and the United States is founded. Having a\nRevenuetaxe which may be collected on articles transported from\ncommon currency means, in essence, that the legal tender\nPuerto Rico to the United States, shall be paid into the Treasury\nmoney of the United States shall be the only legal tender\nof Puerto Rico, after deducting the expenses of such collections.\nmoney in circulation in Puerto Rico.\nThe terms \"income\" and \"taxes\" referred to in the preceding\nsentence shall not be understood in any limited way and they\nThe common currency complements the common\nextend to every kind of revenue, direct or indirect, of any nature.\nmarket as a factor promoting a close relationship between\nd. The Free Associated State shall continue to enjoy the right\nthe economy of Puerto Rico and that of the United States.\nto levy tariffs upon or otherwise to restrict the import of coffee\nHaving a common currency eliminates, as far as United\nfrom foreign countries or the United States; and in a manner\nStates-Puerto Rico economic relations are concerned, many\nconsistent with the international obligations of the United States\nof the payment problems that are usual in economic\nand after prior consultation and coordination with the Federal\nrelations among countries. It does away with the un-\nauthorities concerned, the Free Associated State may levy,\ncertainty and costs associated with inconvertibility and\nincrease, reduce or eliminate tariffs and quotas on articles\nfluctuations in exchange rates. Thus, it promotes the flow\nimported directly from foreign countries or transshipped through\nof goods and productive resources between the two juris-\nthe United States; Provided, That mutually agreeable procedures\ndictions, to the mutual benefit of both.\nshall be established to:\nSince common currency was explicitly identified in the\n1.\nassure conformity with international obligations;\n1967 plebiscite as one of the basic links between the\n2. assure that articles containing foreign components\nUnited States and Puerto Rico and is currently designated\nshipped or transshipped from Puerto Rico to the rest of the\nin the Charter of the Advisory Group as one of the cor-\nUnited States customs territory or from there to Puerto Rico\nnerstones of the relationship, it is essential that it be\nconform respectively to the laws;\nspecifically included in this Compact.\n3. assure continuous communication and coordination\nbetween the United States Executive Branch and the Free\n22\n23"
}