Camas Prairie chronicle. [volume] (Cottonwood, Idaho) 1901-1917, 1903-11-27
PHILIPPINES ARE DEVELOPING
SHOWN BY ANNUAL REPORT OF
COLONEL EDWARDS.
Fiscal System Of Uncle Sans Foreign
Possessions Proves a Success From
the start-New Money In Use
Bonds Sold at Premlum-want Free
Trade With United States.

the past year is displayed in the an.
nuai report Of Colonel Clarence R. Ed.
wards, chief of the bureau of insular
affairs of the war department. The
accomplishment Of greatest import.
ance to the islands during the year
mas been the successful launching of
the new fiscal system. BY January
next the system will be in complete
working shape. The new circulating
medium consists of 100000 pesos in
fractional silver coins and 10000. 900
pesos in paper money. To establish
the new system and purchase the sill
yer coinage, two issues of bonds were
made Of $3,000,000,00O cash, both of
which were sold at premium.
The proceeds of the sales of these
bonds were deposited and drew inter-
est at the rate of IL per cent. so
that the government actually made
money by going into debt.
Wants Tariff Reduced.
Colonel Edwards emphasizes the
necessity of reduction of the Dingley
tariff rates for the encouragement of
trade between the United States and
the Philippines. There is an active
desire on the part of the Philippine
commercial interests, he says, for
tariff concessions and the report states
that the same desire has been evinced
by the same interests in this country.
The chief exports of the islands to
the United States are sugar. tobacco,
hemp and copra. The latter two COM
modities are already on the free list.
The Carrying Trade.
Aside from the tariff question the
matter of most serious moment is the
enforcement of the congressional act
requiring the carrying trade between
the United States and the Philippines,
as well as the coastwise trade Of the
islands, to be confined strictly to YES
sells carrying the American flag after
July 1 next. At the present time
Philippine commerce is carried in
British ships to the extent of So per
cent Of the foreign trade of the isl
ands. Other foreign vessels carried
practically the remainder of this com.
merce, leaving only three per cent to
American vessels. A feet of at least
Is ships is being constructed and the
prediction is made that despite the ap-
prehension now felt American ships
will be ready to take the place of for
eign vessels without seriously incon-
veniencing the shipping interests.
The enforcement of this fact. how
ever, with reference to the coastwise
trade, presents much more difficult
problem. There are now Alps vessels
engaged in the coastwise trade of the
islands. OF this number only % are
American ships.
With the whole number of ships now
participating in this trade. the ton.
mage is said to be entirely inadequate
and the passenger service wretched
1t is suggested that the building Of
light draft vessels to participate in
this carrying business presents q
splendid opportunity for the profitable
investment of American capital and
the uncertainty as to probable future
congressional action on this subject
is asserted to be the reason why nc
steps are being taken to supply the
coming imperative demand for Ameri
can built ships.
The education of Filipino youths in
this country for the purpose of max
ing them future teachers Of the native
schools of the islands has begun un
der an act passed last summer by the
insular government.
Ninety-eight young Filipinos are
now on their way to this country fol
that purpose. They will attend the
grammar schools Of southern Cali
fornia during the winter and in the
spring will be distributed through the
western and eastern portions of the
United States for further instruction