The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1905-04-22
WASHINGTON LETTER.
Admirable Manner in which the United
states is Managing the Affairs of
the philippines -yenezue1an
Incident Closed.

4tWhiIe the carplng cflblcS carp; DIS
the president is fond OF saying, the
administra alton is daily demonstrating
in a quiet and unobtrusive manner
the benefits which this country can.
and has, and will continue to bestoW
on the Philippines, not out of pure phil
anthropy, of course, but as result
OF q determinatio to deal fairly with
sthe little brown man, and because
of the long experience and superior
wisdom Of the United States. The ex-
perience which the American colonies.
the early federation and the infant re-
pubic gained at high cost, the little
Filipino is prodting by now. In time
he will enjoy all the prosperity Of this
country and will not have paid half
the price; no, not 1.-THE OF that
which the sturdy American was COM
PEELED to pay before he knew as much
about government and economics as
he does now.
For the first time in their history the
Philippines enjoy stable currency,
on the metric system, and they have
! made money acquiring it. Under the
fatherly guidance OF the bureau OF in
sular affairs, which directs all things
Philippine, bonds were issued to main
tain the parity between the Filipino
coinage and gold, and the premium
/ 49, 4Lo-o hap1p bac arnatnfad IN from
S1.lS to So. 81 cents on each 500 OF
every issue. As the two first issues
were refunded. the premium was nearly
| doubled. so that the entire trans action
has ia itself proved very profitable.
| Then bonds were issued to purchase
the friars' lands, which will now be
| opened to private settlement. Bonds
were issued to raise the purchase price
of these lands and on the total issue
of 81, 000, 900 the premium was 1921 on
/ every $780, When the lands are sold
to private parties, in small areas, the
purchase price will be segreg ated TO
I paw off the bonds and it is probable
tn at the purchase price will considera-
bly, exceed the total bond issue. The
last issue of Philippine bonds, made
on March 10, amounting to 81, 500, QUO,
was many times over subscribed and
brought the highest recorded premium,
S9.O6 on every 500. The proceeds OF
/ this issue will be devoted. to such pub
lie improvements aaport and harbor
works, bridges courthousess school
buildings, penal institutions, etc.
Not only has the Philippine govern
ment been able to sell it's bonds at a
| premium, because, Of course, OF the
credit of the United States, and in
! marked contrast with those little. re
publics il South America where the
money lenders exact ruinous dis.
couts. but now that the money is ir
the Philippine treasury 1t will be ex.
pended under the supervision OF the
best men this country can afford, mer
whose long experience ID contracting
for public improvements will insure tc
the Filipinos the full value Of every
dollar OF public funds expended. This
affords another sharp contrast to the
usual course followed in new and weak
republics.
During the last session of congress
bill of the utmost Importance to the
Philippines was enacted. Its most i'm.
portant provisions authorized the
Philippine government to guarantee
per cent interest on bonds to be issued
by companies which will construct rail
ways il the archipelago, such bonds
being limited to the actual amounts
invested in railway construction
When the bill authorizing this guar
antee had passed the house and been IA.
vorab1y reported TO the senate, it con.
tanned certain loop-holes by which the
Filipinos might have been swindled
numerically by INSCRIPTIONS railway
promoters, but just before it was placed
2 on passage, Senator Spooner. tt an
whom there is no more capable lawyer
III the country, and whose early ex.
perienee as attorney for and receiver
of a great railroad rendered MIN IA
miliar with the practices Of promoters,
re-drafted the railroad section of the
bill and put it in the form in which il
passed Secretary Taft, a lawyer oi
exceptional ability, Senator Bailey,
also an able attorney, and Attorney
| General Moody and ex-Attorney Gen.
eral Knox assert that no stronger
piece Of railway legislation was ever
passed and that the interests Of the
F'ilipiuos are safeguarded in every
conceivable manner. If sueh meas.
ure had been left to the tender mercies
of Filipino senate is it likely thai
there would have been Spooner tc
safeguard the interests Of the people:
In one respect congress has perhaps
failed to do justice to the Philippines,
as yet, but progress has been made
and the proper legislation will proba
bly, be enacted next session. This is
in regard to the tariff. The Philip
pines deserve free trade with the
United States, such as is now enjoyed
by Porto Rico, Hawaii, etc. Hearings
on a bill providing for admission te
the United States Of all Philippine
, products except sugar and tobacco
free of 61lty and on these a f1iIJy Of y