The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-01-21
AGUlNALDO'S PLAN.
Filipino Leader Offers Sugges-
tiOns to Help His People.

Washington, Jan 21-Secretary Root
has transmitted to the senate and house
copies Of a petition received by him
through Governor Taft from Aguin-
aldo, the late insurgent leader in the
Philippines. The petition is a remark
able presentation of conditions now ex-
listing in the Philippines. and Secretary
Root fastened to send it to congress.
] because it went a long way toward sup
/ porting the statement he made to the
/ committee of that body and also dem
Onstrated the necessity for prompt and
/ exhaustive action on the part of con
gress to prevent disaster and distress in
\ the archipelago. The secretary's letteA
/ of transnittal was very short, siInG.y
/ reciting the character of the document
and 2lud1ng to the picturesque ana
graphic manner in which .Aguina1do had
+ described the conditions in the Philip
pines. The secretary attached import
ance to Aguinaldo's profession of a de
sire to do everything in his power tG
aid the Americans in carrying out relief
+ measures and developing the islands.
1 Aguinaldo says in part:
Profoundly impressed by the sOr-
rows and calamities which af1ict my
people, and bearing in mind the goou
intentions which have inspired the acts
/ of the civil commission, have taken
i heart to present project of a purely
I economic character, which in my Opin-
4 ion would remedy. if not completely, at
least in great part the precarious situa-
ton in which we find ourselves.
7 propose to the honorable civil COM
mission to obtain from congress Z,
/ United States treasury loan of $40. 0O0,-
! 600 gold, in cash. and also a credit of
$50 600 900 gold, which win guarantee the
issue OF paper to serve as money in the
This sum shall be used for develop
ment and Improvement of Philippine
agriculture, and shall be paid within %
+ years, the payments being made in three
1nstallments, at the end of 10. Is and p
years respectively. and at the rate OF
% millions at the end Of the first period
which would cancel so much Of thg
credit, and % and so millions at the end
OF the two remaining periods. The
amount of the credit would not be
taken out Of the United States treasury
Ike the loan, and both would be with
out interest and could never be trans
Ierred to any other foreign nation.
When the loan and credit We're ap-
proved and the above mentioned sum
here in the Philippines a bank would
be opened which could be called y. S
America Notwithstanding bank
which should be under inspection ano
supervision of the insular government
After the civil commission had die
tated the proper regulation and estab
lished all the necessary safeguards foi
the security and stability of the bank
the bank would begin to operate, max
ing available for the agriculturi5t.
such sums as they should ask for il
compliance with the necessary formal
tiles, at an annual maximum of foui
per cent payable senni-annualIy.
From the 100000 capital will b.
subtracted $1,000, 600 for construction o
buildings for branch banks Throughout
the archipelago, and for other neces
sary preliminary expenses.
Subtracting from the annual incOm
of $500 600 the annual expense TO
salaries and other necessary expense
f of the bank which may be reckoned a
about 100000 there would remain a ne
d, annual income of $4,000 which adde'
to capital at compound interest unde
the same condition during the frs
years at the end of sixteen years wOul,
! free both the actual capital and tn
supplementary credits. that Is tn
bank would have Iiquidated its debt t
l the u. S. treasury. and there Woul
remain balance of at least $40. 600 90
I for the continuance of its work Al
] lowing four years more, for example
: makes the twenty years mentioned.
BY the time that the United State
treasury has been repaid a the end o
the stated period of 20 years. the Phil
ippines treasury would have at leas
$50 900 which would serve to guar
antee the issue of paper money to tina
$ amount.
I'm case Filipinos should wish to &C
quire the bank BY making OF it a join
stock company. without otherwise alter
I ing its capitalization and methods, tn
! government would cOncede to them tn
title without prejudice to its right t
require repayment of the amounts in
CURED by the foundation of said ban
or other necessary expenses.
1T may be that when this project
know. I shall be called an enthusiast
r. / and dreamer. and if viii be said
ought rot to involve myself in matter
. that force me out of the retired If
: which 7 have intended to follow sine
. my imprisonment. and which as I be
: lieve nothing that I have done has bro
4 ken into until the present time, hut til
= contempla ton OF the bitter misfortune
y which Cypress this suffering people e1
Q hausted by evils. almost calamitie
: without number ohliges me to leave m
=, retirement to ful6u what I believe
: be my duty. (Signed)
If Respectfully.
d EMILIO AGUINALDO FANNY"