In 1908, he was appointed as treasurer. During World War I, Benedicto was partly responsible for a campaign to advertise the sale of Liberty Bonds on the island. This plan would ultimately bring in nearly $10 million for the war effort, or approximately $9 per person in the territory. As treasurer, he also fought a legal battle against the Porto Rican American Tobacco Company. This battle eventually made it to the Supreme Court of the United States and they issued an opinion favoring the treasurer in 1924.
Shortly after Emmet Montgomery Reily was appointed as governor, Benedicto was indicted by a grand jury on corruption charges and was removed as treasurer by the governor in 1921. However, he was later acquitted of charges.
COMMISSIONER DEFENDS PORTO RICO TREASURER; Davila, Replying to Gov. Reily, Says Benedicto Was Exonerated of Charges.
By Jose E. Benedicto, Treasurer of Porto Rico. Overland Monthly and Out West Magazine (1868–1935). San Francisco: Apr 1919.Vol.VOL. LXXIII, Iss. No. 4; pg. 316, 4 pgs
The Red Triangle in Porto Rico By W. G. Coxhead, Secretary of Y. M. C. A. at Camp Las Casas. Overland Monthly and Out West Magazine (1868–1935). San Francisco: Apr 1919.Vol.VOL. LXXIII, Iss. No. 4; pg. 343, 3 pgs