The Birmingham age-herald., 1903-01-21
AGU|NALDO GIVES
 PLAN OF RELIEF Wants U. s, to Loan Philip
 pines $2O,OOO,OO0 ISLANDS NEED II BADLY Late Insursent Leader Maps Out Plan Which He Believes Would Success
 fully Keep of Depression.
 America Wouldn't Lose.
ISLANDS NEED 1T BADLY

Washington, January 20. - Secretary Root transmitted to the senate and house copies of a petition received by him through Governor Taft from Aguinaldo, the late insurgent leader in the Philip pines. The petition Is a remarkable pre- sentation of the conditions now existing in the Philippines, and Secretary Root hastened to send 1t to congress because 1t went a long ways toward supporting the statements he had made to the com mittees of that body and also demon- strating the necessity for prompt action on the part of congress to prevent dis aster and distress in the archipelago. The secretarys letter of transmttal at tached particular importance to Aguinal- dos profession of a desire to do every in carrying relief measures and develop ing the islands.
 The petition says in part:
 Aguinaldo's Petition.
 Profoundly impressed by the sorrows and calamities which afhict my people, and bearing in mind the good intentions which have inspired the acts of the civil
  sent a project of purely economical character, which in my opinion, would remedy If not completely, at least In great part, the precarious situation in which we all find ourselves.
 T propose to the honorable civil com mission to obtain from congress a United States treasury loan of twenty million dollars. gold, in cash and also a credit of eighty million dollars. gold, which will guarantee the issue of paper to serve as money in the islands. This sum shall ment of Philippine agriculture and shall be paid within twenty years, the pay ments being made in three installments at the end of ten, fifteen and twenty years, respectively; and at the rate of twenty-five million at the end of the first period, which would cancel so much of the credit, and twenty-five and fifty mil lion at the end of the two remaining periods. The amount of the credit would not be taken out of the United States treasury like the loan, and both would be without interest and could never be trans ferred to any other foreign nation.
 Suggests Bank.
 When the loan and credit were approv- ed and the above mentioned sum Is here in the Philippines, bank would be open ed which could be called United States of America Agricultural Philippine bank and which should be under the inspection and supervision of the nsular govern ment.
 After the civil commission had dictat- ed the proper regulations and established all the necessary safeguards for the curity 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 formalties at an annual maxi mum interest of four per cent, payable semi-annually.
 From the s10OO0O,0OO capital will be substracted g, GOO, 900 for the construction of buildings for branch banks through out the archipelago and for other neces- sary preliminary expenses.
 "Substracting from the annual income of s3.920,0 GOO the annual expense for sala- ries and other necessary expenditures of the bank which may be reckoned at about $700, 900, there would remain a net annual income of 8, 220. .O00. which added to the capital at the compound interest. under the same conditions during the following years at the end of sixteen years WOulu Tree DOln the dCIudl dTu the supplementary credit that is. the bank would have liquidated It's debt to the United States treasury and there would remain balance of al least $40, ,000, 900 for the continuance of its work. Allowing four years more for ample time, makes the twenty years mentioned.
 Would Have Plenty in 20 Years.
 By the time the United States treasury has been paid at the end of the stated period of twenty years. the Philippine treasury would have at least $50, 900 GOO, which would serve to guarantee the issue of paper money to that amount. In case Filipinos should wish to acquire the bank by making of 1t joint stock company, without otherwise altering its organiza- ton and methods. the government would concede to them the title, without pre- Judice to its right to require repayment of the amounts incurred by the founda- ton of said bank or other necessary ex- penses,
 Tt may be that when this project Is known l shall be called an enthusiast and dreamer. and it will be said that l ought not to involve myself in matters that force me out of the retired life which have intended to follow since my im- prisonment, and which, as believe, noth- ing that l have done has broken into 1t until the present time. But the contem- plation of the bitter misfortunes which oppress this suffering people, exhausted by evils, almost caamities, without number, obliges me to leave my retire. xuh hnt T holt