Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-01-02
rams Pacific liner 70 lie pesiue
# in the islands

Re insular government, approx
fv 100000 acres Of agricultural
formerly belonging to the reilg-
friars. and nearly one-Hllh OF tHe
has been leased largely TO FOR
tenants). from which a sufHclent
me Is derived to pay nearly nan
interest on the purchase bonds
entails in most cases are lower
m those paid to the fiiars. but II a
n proportion of each estate could
leased upon similar terms the IN
me would be sufficient TO pay the
.tcrest upon h bonds ana we cost
Z administration
In fixing these rentals the first obs
,ect has necessarily been TO obtain the
attornment Of the occupants. The lat,
ter have largely executed leases anu
many have indicated their intention
Of making purchases. These lands
will be sold at prices only sucil as 70
compensate the government for mon
ely invested, so far as II can be ascef-
tanned. and favorable terms Of pay
ment win be given TO purchasers.
There is every reason to believe that
the present occupants VIII end thell
leases by becoming purchasers ana
cOntented landowners. instead OF dls-
%eontented and repudiating tenants, with
constant danger OF disaftectiOn and in
surrectiOn. which would have follow
D NA NY ANAAAtAFN III ~ 4t
friars' orders TO again assert Their t.
ties to these lands and collect rentals
therefrom.
During the year an act has been
passed by the Philippine commission
establishing q postp. savings bank to
be administered under the bureau Of
posts with authority to establish
branches in every postonice through
out the archipelago. Many of the peo-
mia af tho fg14nAu arR thrifty lint in
ability to properly invest or secure
their earnings in a name to make
them yield an income -discOurages'
thrift, and practically the only means
OF saving heretofore in the provinces
has been by burying money in the
ground, which practice made a serious
loss TO the community, as the use of
the money is urgently needed in cir
%eulation for the prosperity of the
islands.
In the new postal savings banks
deposits may be made Of any amount
however small, by the purchase of
stamps, on which interest will be paid
of not less than 2 1-2 per cent per
annum. AS the funds are to be judi
eiously invested by an official Of the
government, under strict regulations
prescribed by the law, the security OF
the funds Is assured. and it is stated
that the interest payable on same
shortly, if not at once. will exceed the
minimum fixed by law. This system
will meet a m~ueh-needed requirement.
and 1t is believed to be one of the
most important pieces of legislation
which has been enacted. 1t will tend
gradually to win the Filipino from his
love of gambling and putting his
money on the hazard Of the cockpit.
induce him to save his little funds,
and thus enable him to purchase a
homestead or agricultural machinery
or to enlarge his existing possessions.
Dingley Tariff.
1t is stated that the principal ray of
hope which came To the people of the
Philippines in the midst Of their losses
from rinderpest, locusts, drOughts, and
low prices for their products was that
they might be furnished relief from
the excessive duties now imposed upon
imports Of sugar and tobacco into the
United States, and that the disappoint-
ment throughout The islands was great
and bitter at the failure of congress to
do SO at the last session, Attention is
called to the laws passed by congress
affecting commerce. between the Uni
ted States and the Philippines by
which great benefits and advantages
have been given to the American ship
owners, manufacturers OF cotton
goods, etc, over foreigners, which ena-
bles them to control prices and cost OF
transportation as well as to monopo-
lie the trade, While the American
markets, which the Filipinos are asked
to consider their own. remain closed
TO them BY the failure or congress to
act
The arguments in detail have been
so often made for this reduction Of
duty on sugar and tobacco that the
commission have thought it fruitless
to repeat them again this year in
detail, but with the almost earnest
ness IL repeats its former recommen-
dation mat congress at least reduce
the duties on these two products to 25
per cent OF the present rates.
The Philippine commission recon-
mends, in general. that, in view of the
present agricultural and financial crisis
I'M the islands. all possible measures
calculated to Increase their CONNER
cial prosperity without interfering
with that of the United States should
certainly be adopted by congress.
The United States IS SO teeming with
enterprises and industries which are
highly profitable that il has been diff
cult to induces American capital to
enter the islands and aid In the long
sought DEVELOPMENT OF their latent and
inexhaustible resources.
The following resume, however. will
show that American enterprise and
business sagacity have already made
great progress in a field hat a few
years ago was almost wholly occupied
by foreigners. Cp-to-date systems of
lighting and street transportation
have been i-naugurated in the city of
Manila in which millions of American
are Invested and are receiving
their Just reward in profits.
Contracts are held by enterprising
Americans for harbor works at
Manila involving an expenditure of
over S4.0OO.O00. and harbor works are
under way mt llolio and Cebu. both ia
the hands Of Americans. A modern
telephone system has been installed
at Manila with American capital and
will probably gradually extend itself
throughout the whole OF the island
OF Luzon as authorized by the franz
ChiSe. Concessions have been granted
and surveys are under wav for the
construction OF 500 miles of railway
in the Nisayan islands and over 400
miles In Luzon. due wholly to thu
business enterprise and the aggrega-
ton OF American capital and viii
involve between ten and twenty mil
lion dollars Of expenditure. Electric
lighting plants have been Installed at
lloilo n Cehu under American aus
pieces and with American capital.
An important American bank has
been established and has captured It's |
t7tr share of the banking ia the
islands contracts involving millions
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