The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-12-24
TREASURE FOR
SCHOOL FUND.
Recommendation Of Philip
pine Commission.
MUCH SEIZED PROPERTY ON HAND
Financial Condition of the Islands
Improved During Past Fiscal
Year-Insular Government
TO be Self-Sustaining.


Philippine Commission, just made public,
there is now in the insuIar treasury paper
covering more than $4,000 Gee IN gold
values, as against triie more than So
goo, eco on hand year age Meanwhile ell
the running expenses of the insular gov
eminent have been met and large appro-
priations have been made out of the
treasury for purely naval and military
purposes.
The report says: In the ordinary cur
rent expenses of the islands to include
for the purposes of the statement now
the establishment and maintenance of an
efficient police system for the preserva-
ton of good order and If necessary means
of communication between the Islands for
transportation Of mails. public officials.
and revenue customs inspection
Islands seIf-supportfng.
There is no reason why the Govern
ment of the United States should ever be
called on to contribute toward the sup
port Of The insular government, and with
in a comparatively few years after the
complete restoration of good order it is
entirely reasonable to anticipate that the
revenues of the islands viii he sufficient
to pay all expenses incurred for troops,
native or American. and iHsular police
sufficient &c maintain good order through
out the whole Archipelago.
Besides the aforementioned amount,
the insuIar government is holding as a
separate fund, subject % the viii OF Con
gress. nearly half million dollars, gold.
seized from the Spanish treasury and
mint when the American troops entered
Manila. There is also about $159,d09 gold.
seized from the iusurrectos at various
times and places since the outbreak Of
February II, 1899.
Personal Property Seized.
Many articles 0 personal property have
also been seized rom leaders CT the in
surreetion. such as jewelry, rings. ear
rings, necklaces. watches field glasses.
siIverware, melted silver, insurrecto
flags, stickpins. medaIIions, cuff buttons
and miscellaneous articles All these are
deposited n the treasury
las to the general seized funds says
the Commission. 1t is recommended that
Congressional action should be taken au-
thorizing the Commission to turn the
seizC5 funds, so far as title to them shall
not be established through the courts in
favor Of private individuals, into the
general treasury of the Islands to con-
stitute general school fund for the sup
port of public schools. with the provfso
that where a specified portion of the
seizs8zSszSaesTa collected as taxes by
the insurrectionary government in any
particular province those funds may be
ince- from which they came, to be used for
the genera. provincial purposes OF build
ingFoads and other public roads. etc.
--[5edicated to the Islands
''AIl these funds were collected uIti-
mateIy for insular interests and Il seems
to the Commission that the United States
Government might feel justified in causing
them to be dedicated to the interests OF
the islands through the public school
fund as above suggested Many Of the
seized articles, aside from such as have
historical value as mementos should be
converted into money by sale and those
which have historic value as menentos,
if any, might be reserved for deposit in
a local museum
Currency Now ia use.
On the subject of the currency now in
use the report says:
In our last report it was stated that
the abnormal conditions IN northern
China, together with he increased value
of silver IN the general market Of the
world, had increased the demand for
Mexican dollars to such an extent that
the Government deposit of Mexican cur
rency IN the local banks was being rapidly
depleted, the silver being Withdrawn for
export TO China and being replaced BY
money of the United States, and that 4
that process were allowed to continue
without interruption the insulsr de-
posts of silver would become exhausted
and it would be no longer practicable to
maintain the uniform ratio Of > to I which
lid been prevailing fer several months
preceding the date OF that report. and that
for the purpose OF preventing further de-
pIetiCn of the insuIar deposits Of silver
acts had been passed providing Tor the
payment of salaries uGder the civil service
of the islands in money Of the United
States and imposing on export tax OF 10
per cent upon Mexican dollars Appro-
priati0ns were likewise mainly made IN
money Of the United States.
Temporary Export Tax on Silver
The imposition Of the customs export
tax on Mexican silver was q purely pro-
vIsionaI and temporary measure for the
purpose OF enabling the Government TO
hold the ratio of exchange between the
two moneys at uniform rate until Con
gress should be enabled to provide a sys-
TEN Of currency Tor the islands. Congress
having taken no action upon the matter
at It's last session, the local legislation re-
NAMED unchanged. Meanwhile the de-
mand for Mexican dollars IN China and
other parts Of the world became less and
their market price diminished materially.
These causes, coupled with the Jegisla-
tion referred to. began eventually to
cause q large accumulation of Me scan
and insular currency in the Government s
deposit
s<The circumstances that led to the i'm
position OF the 10 per cent export duties
upon Mexican silver having ceased tC
operate act No. 213 was passed on the
S1st day OF August, 1901, repeating that
export tax At the present valuation OF
Mexican dollars, there is no inducemeni
TO export them, and the law was nc
longer subscribing any useful purpose.
Required Local Money.
tThe fact was stated in the former re-
port that the local banks refused to re-
ceive deposits in money of the United
States and required all sucn money to be
exchanged into local currency beforA be-
ing deposited, commission being charged
for exchange. Hence depositors were BoI
able to withdraw their money in United
States currency, but only in local cur
reacy, and L they wished United State: