Republic Act No. 4166 - An Act Changing The Date Of Philippine Independence Day From July Four To June Twelve, And Declaring July Four As Philippine Republic Day, Further Amending For The Purpose Section Twenty-Nine Of The Revised Administrative Code.
In his inaugural address, Macapagal promised a socio-economic program anchored on "a return to free and private enterprise", placing economic development in the hands of private entrepreneurs with minimal government interference [REF].