New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-28
1 NEGLECTED DTTY.

In passing the Philippine Agricultural Bank
bill the Senate undoubtedly sought to palliate
its record of Indifference 10 the welfare OF a
crippled and helpless dependency. It was a
case of giving a crust TO the starving man VINO
was pleading for a full loaf Of bread. The
bank bill is good enough in It's way. 1t pro
vides for the creation Of banking ASSOCIATION
which is to make lOans-nO loan TO exceed
So. O00-to Philippine planters To encourage
local or American capital TO take stock in the
bank the insular government is TO guarantee
a dividend of at least per cent on the bank :
capital. and interest charges on loans are per
mitted to run as high 10 per cent. The back
ward condition of agriculture in the Philippines
has been attributed and is attributable in part
to the excessive rates charged on advances
made to the owners of land. The interest
rates on loans and mortgages have been usu-
rious and practically Tuinous. 4 somewhat
similar situation existed in Cuba on the with
drawal of Spanish power from that Island
Lax economy, political unrest. disorder and
the natural tmdty OF money lenders COM
bined to force rates far beyond the normal,
and the necessities of the debtor class among
the planters drove them to grasp Mt any relief
short of foreclosure and bankruptcy.
1t will be an assistance to the Philippine
planters 10 be able 10 turn to an institution ex-
pressy created to stimulate agriculture and
ready to lend money at a rate not exceeding 10
per cent. With a reduction in the charges for
borrowed capital may come certain revival
In values and a certain diffusion of content
ment and prosperity. Yet industry along all
lines Is PROSTATE in the Philippines Amerl-
can occupation has raised the scale OF living
Taxation and governmental expenditures have
increased, and, while the FilipinOs have bene-
fitted and will benefit more largely in the fut-
ure from the new order in politics; education
ana industry. they find themselves Just now in
a trying transition state, whose burdens are
aggravated by the fact that have not com
pensated them for the hardshps Of aSsimila-
ton by giving them the economical advantage
of free access to our markets
According to President Mckinley the process
Of assimilation was to be benevolent" His gen
erous policy was applauded by American senti-
ment and it has been faithfully adhered 10 by
President Roosevelt Secretary Taft has strug
gled both at Manila and at Washington TO assure
TO the Eilipinos the friendly and helpful treat
ment promised them when the United States ac-
cepted them wards under the Treaty OF
Paris. But the Senate has baked at the policy
of beneyolence and substituted for il one of
step-mothery discrimination. Coerced by the
groundless clamor Of 4 few special interests
in this country that Philippine competition
would drive them into bankruptcy the Senate
has singled out our Far Eastern dependency for
treatment as an IShmaeI. Porto Rico can en-
Joy the freest entry into our market with her
sugar and tobacco. but the far more needy Phil
ippines must be held at arms length like an
allen Philippine sugar and tobacco must be
taxed almost as heavily as Cuban sugar and
tobacco, and, though thus Disseminated against
as foreign, must be brought on their long Jour
ney here at extra cost in vessels registered
under our coastWise laws. The Senate's harsh
md 1up aft 10
national sense OF equity and generosity We
cannot afford TO be mean spirited and close
listed in our treatment Of a dependent people.
This Congress Will adjourn without fulfilling
a national duty. But that duty will be full
filed eventually IN spite of the forces which
now misguidedy dominate in one branch of the
national legislature