Omaha daily bee., 1902-02-09
Lew Prices and Dull Market Said Il
Require Prstsotisn.
lowERNTEREsr RATES Alss ASKED FOR
Taft Says Geld Dollar shOuld Be Basis
Of Coinage.
REcoMMESss SETtSTlsN OF NATIVE COIN
Believes Adoption of United states
Money would Disturb Business
Conditions by Raising
Price of Wages.

WASHINGTON, Feb. s.-Continuing his
narrative before the senate committee on
the Philippines, Governor Taft today re-
verted to his testimony Of yesterday for
the purpose of introducing a cablegram he
had received from Acting Governor Wright
urging a reduction in the tariff on Philip
pine articles imported into the United
States from the Philippines. He said this
cablegram was in response to an inquiry
from himself as to the effect OF a reduc-
tion Of 80 per cent. The reply of acting
Governor Wright is as follows:
MANILA, Feb. 4.-The public session Of
sugar ard tobacco interests favor reduc-
tino Of Is per cent at least. = reduction o OF
hibitive. The sugar price is now very low.
The European market is very dull on ac-
The beet sugar planters here have lost
heavily by caraboa. machinery and other
MsgsT reoeTed + R Se sasa
Growers associations of Negros and Panay
ask for free. trade for this reason.
and tobacco would be measure OF relief
and have excellent political effect.
Regarding Wealth of Friars.
Senator Rawlins questioned Governor
Taft concerning the holdings of the friars.
The governor said he thought the general
opinion as to the wealth and holdings Of
the friars had been greatly exaggerated,
He did not believe, for instance, that they
had three-fourths of the property owned
In the city. That, however, the religious
orders have ready cash, was true, as was
evidenced by the fact that they make loans.
He mentioned a case in which the friars
had advanced money to promote corner
in hemp, which had afterward failed be-
cause OF Irregularities on the part OF the
manager.
Governor Taft said that the Philippine
government is desirous of purchasing the
Manila property held by the friars and that
| It also would be desirable to secure their
holdings Of agricultural LANDS.
In connection with the loaning of money
by the frisrs, Senator Lodge asked about
the necessity for banking law, and the
i witness replied that such Law. Is badly
needed, There are now, he said. two
1 English banks In addition. to afhe sraniaks
largely by the church and being the only
bank Of issue.
Most Land Secured by Purchase.
| He said there had been some grants of
land to the church orders, but that as a
rule they had acquired their holdings by
purchase. The charge has been made, -
he said, that much of their land has
come to them by death-bed conveyances,
but this charge is not borne out by a
tracing of the title. The truth is that the
friars have the best titles in the island
and even where there have been irregulari-
ties the statute of Limitation would pro-
tect the title"
He said that according to the charges one
method OF extending the holdings Of the
orders had beer by extending their irriga-
tion systems over adjoining lands.
Something after our own method oi
watering stock" said Senator Proctor, re-
ferrlng to irrigation encroachments. Sen
ator Proctor also asked where the friars
had secured money with which to purchase
their lands, and this inquiry led Governor
Taft TO say that the fees for the marriages
funerals, christcnings, ETC., had been sc
high as to be complained OF. These charges
for marriages, had, he said, led many
couples to live together illicitiy. but thai
In most cases the obligations thus taker
were observed.
Advocates Lower Interest.
Again referring to the financial inter
|, ests of the Philippine archipelago, Gov
ernor Taft said that interest rates ar
as high as from 20 to rs per cent and tina
II is very necessary that there should b.
authority for granting franchises to imam
clai concerns which would reduce the In
terest charges.
As to the coinage. Governor Taft sal,
that II Is desirable that the gold dolla
should be established as a basis. He ais
advocated a token coin which should b
exchangeable for gold and the parity as
sured by the United States. This. he said
is the plan Of the commission. and he be
lieved It wise. This plan embraced tn
coinage Of a Philippine peso and the circu
Iation of this coin. he thought. should b
confined to the islands. He thought tba
unless the commission was authorized {
make good the token money there woul
be trouble. as It must be borne In mia
, that the Philippines administration is no
as strong as that OF an established ma
! ton.
Danger in Adopting New Money.
: Referring to the suggestion that Unite
$ States money should be adopted. Governo
Taft said that II this were done II woul
have the effect OF increasing the value
, the peso TO the extent Of so per cent an
3 this would unsettle transactions. Thi
= plan also would have the effect Of raisln
the price OF wages and disturbing bushes
E relations.
D Taking up another point Of administra
= tion, Governor Taft advocated the right I
: appeal In certain cases to the suprem
: court Of the United States, especially sue
J. cases as would involve the Relationship
q church lands to the government. This
: thought necessary because Of the probs
bIlity Of prejudice on the part OF the Loci
: courts.
n He urged the granting Of power TO Ii
= commission TO give franchises for steal
Z and electric railways and lighting plan
e and also made an argument for authorii
r TO create a Donded debt Of $4.000.000 Il
: local improvements In Manila.
!. II is. he said. especially desirable thi
Il there should be electric lines In that coul
: try because Of the difhcuity Of gettir
d about in a tropical climate. He thougl
h no franchise should be perpetual.
; He also would have a wider maTg
given in the matter OF cutting timbe
i There is magnificent timber through Il