The Forrest City times., 1903-01-23
NEEDS N THE F|L|P|NOS.
Letter From Aguinaldo Setting Forth the Condition and Needs
 of the Islands.
HE HAS A PLAN TO GIVE QUICK RELIEF.
Congress, He Says, should Take Prompt Ac- ton in the Matter In Order to Prevent Distress and Disaster In the ArchipeI- Copies of the Letter Sent to Doth Houses of Congress.

Houses of Congress.
 Washington, Jan. 2l.-Secretary Root, Tuesday transmitted to the sen ate and house copies of a petition re- ceiyed by him, through Gov. Taft, from Aguinaldo. the late insurgent leader in the Philippines. The peti- ton is a remarkable presentation of the conditions now existing in the Philippines, and Secretary Root has tened to send it to congress because ii went n long way toward supporting the statement he had made to the committee Of that body. and also dem onstrating the necessity for prompt and exhaustive action on the part of congress to prevent disaster and dis tress in the archipelago. The secre- tary,s letter of transmittal was very short, simply reciting the character of the document and alluding to the picturesque and graphic manner n which Aeuiualdo had described the conditions in the Philippines. The 1 secretary attached particular import anee to Againaldo's profession of desire to do everything in his power to aid the Americans in carrying out relief measures and developing the isl
 ands. Aguinaldo says in part: 'Profoundly impressed hy the sor-- rows and ealamities which afflict my
 people, and bearing in mind the good | intentions which inspired the acts of tie civil eommission, l have taken heart to present Il project of a purely economic character. which in my | opinion would remedy. if not com pletely, at least in great part, the pre- caIious situation in which we find ourselves
 "I proposed to the honorable civil commission to obtain from congress a United States treasury loan of $2O,- COG, ,000 gold. in cash. and also a credit
 of SS0, ,o00, 900 gold, which will guaran-
 tee the issue of paper to serve as
 money in the islands. This sun. shall
 be used for the development and i'm
 provement of Philippine agriculture
 and shah be paid within twenty years, l the payments beng made in three in-
 stallments at the end of ten, fifteen
 and twenty years respectively, and at at the rate of twenty-five million at | the end of the first peri od, which
 would cancel so much of the credit, and twenty-five and fifty million at
 the end of the two remaining periods 1 The amount of the credit would not be taken out of the United States l treasury, like the loan, and lotE would be without interest and could
 never be transferred to any other for
 eign nation.
 When the loan and credit were ap- | proved and the above mentioned sum
 here in the Philippines, bank would
 be opened which could be called United | States of America Agricultural Philip
 pine bank. and which should be under l the inspection and supervision of the
 lnsular government.
 After the civil commission had
 dictated the proper regulations and
 established all the necessary safe l guards for the security and stability
 of the bank. the bank would begin to
 operate, making available for the az riculturists such sums as they should
 ask for, in compliance with the neces- sary foI malities at an annual maxi
 mum for four per cent. payable semi
 annually.
 From the Slo0.O00o00 capital will ] be substracted 1000 .O0O for the con.
 struction of buildings for branch
 banks throughout the archipelago and i for other necessary preliminary ex-
 penses.
 l "Subtl acting from the annual in- ] come of $3,920,000. the annual cx- 1 pense for salaries and other necessary
 expenses of the bank, which may be
 reasoned at about $70,00O, there would
 remain a net income of S3,32O. .O0O.
 which. added to the capital at com | pound interest, under the same condi-
 tions during the following years, at the end of l6 years would free both | the actual capital and the supple
 mentary credit; that is, the bank
 would have liquidated it's debt to the | United States treasury. and there
 would remain balance of at least | Si0,000,000 for the continuance of it's work
 "lt may be that when this proiec | is known l shall be called an enthusi-
 asst and dreamer, and it will be said | that l ought not 10 involve myself in
 matters that force me out or the re- 1 tired life which have intended to
 follow since my imprisonment. and
 which, as l believed. nothing that l ] have done has broken into until the ] present time. But the contemplation Of the bitter misfortunes which op- i press this suffering people. exhausted i by evils. almost calaiuities, without
 number. obiiges me to leave my retire | nent to fuhill what 1 believe to be
 my duty. Respectfully.
 EMILIO AGCINALDO FAMY,"