Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-21
AGUINALDO'S APPEAL
URGES THAT AID BE GIVEN THE
= sss sFILIPINos.
Suggests 3 $40, 600, 900 Loan and the
Issue rs $50, 600, 900 in Paper
Money to Develop Islands.

SecretarB> Root has transmitted to the
Senate and House copies of petition re-
ceived b@ Hmm, through Governor Taft.
from Aguinaldo, the late insurgent leader
in the Philippines. The petition is pre-
sentation Of the conditions now existing in
the Philippines, and Secretary Root has
tened to send 1t to Congress because it
went long way toward support the state
ments he had made to the committees of
that body and also demonstrating the ne
cessity for prompt and exhaustive action
on the part Of Congress to prevent disas-
ter and distress in the archipelago. The
Secretary's letter Of transmittal was very
short, simply reciting the character Of the
document and alluding to the picturesque
and graphic manner in which Aguinaldo
had described the conditions in the Phil
ippines The Secretary attached particular
Importance to Aguinaldo's profession of a
deslre to do everything in his power to aid
the Americans In carrying out relief meas
titiOn says:
Aguinaldo's Proposition.
Profoundly impressed by the sorrows
and calamities which let my people, and
bearing in mind the good intentions which
nave inspired the acts of the civil COM
mission. I have taken heart to present
which. in my opinion, would remedy, if not
completely, at least in great part, the pre-
carlous situation in which we all find our
selves.
Il propose to the honorable civil COM
mission to obtain from Congress a United
states treasury; loan of $2O,0OO.O0O gold, in
cash: and also a credit of $SO.OOO,OOO gold.
which will guarantee the issue of paper,
10 serve as money In the islands. This sum
snail be used for the development and i'm
tho cvin
snail be paid within twenty years, the pay
ments being made in three instalments at
the end OF ten. fifteen and twenty years.
respectively, and at the rate of SIS. OOO. 900
at the end OF the first period, which would
cancel SO much of the credit. and $25, 600
ana $oOOOOOOO at the end of the two re-
naming periods. The amount Of the credit
would not be taken out of the United
States treasury like the loan and both
would De without interest and could never
De transferred to any other foreign nation.
Proposed Bank.
when the loan and credit were approved
and the aforementioned sum sent to the
Philippines bank would be opened, which
could be called United States OF America
Agricultural Philippine Bank and which
should be under the inspection and super
vision OF the'insllar government
After the civil commission had dictated
the proper regulations and established all
the necessary Safeguards for the security
and stability of the bank, the bank would
begin to operate, making available for the
agriculturists such sums as they should
ask for. In compliance with the necessary
1ormahties. atSan annual maximum of 1
per cent payable semi-annually
from the SOO, 600 capital will be sub
trac.eo S2oOo.OQ0 for the construction Of
buildings for branch banks throughout the
alcnipeiase. ana for other necessary pre-
l1minary expenses
Subtra citing from the annual income of
$5D@ooOO the annual expense for salaries
and other necessary expenses of the bank
winch may be reckoned at about S7OO 900
mere In ere Woulu remain net annual income of
$322 900, (which. added to the capital at
compoundn1nterest, under the same condi-
tons during the following years, at the end
OF sixteen! : ears would free both the actual
capital and Hffe supplementary credit; that
Is, the bank would have Iiquidated its debt
to the United States treasury. and there
would remain a balance of at least $4,000
I 0uO for the continuance of its work Allow
Ing four years more for ample time makes
the twenty years mentioned
Philippine Guarantee Fund,
/ BY the time that the United States
treasury has been repaid at the end of the
stated period of twenty years the Philippine
treasury would have at least $4,000, 900,
which would serve to guarantee the issue
of paper money to that amount
"1n case Filipinos should wish to acquire
the bank by making of it joint stock COM
pany, without otherwise altering its organ
iZation and methods, the government would
coHcede to them the title, without prejudice
to its right to require repayment OF the
amounts incurred by the foundation of said
! bank or other necessary expenses
ut may be that when this project is
known I shall be called an enthusiast and a
dreamer and 1t will be said that I ought
not to involve myself in matters that force
me out of the retired life which have in
tended to follow since my Imprisonment,
and which, as 1 believe. nothing that have
done has broken into until the present time.
| But the contemplation of the bitter misfor-
tunes which Cypress this suffering people
| exhausted by evils and calamities without
number, obliges me to leave my retirement
| t. fulfill what believe to be my duty Re-
| spectfully.