Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-03-21

counted for in the unprecedented
prosperity of 1917.
Internal trade has leapei to 'ln-
heard OF proportions. There is more
money in every part OF the Philip
pines today than ever before. More
business is being done and the cur
rency reflects this condition. Des-
pite constant accretions to the cur
rency. through importltions from
United States minis, the Philippine
Bank, the government financial in
stitution. has had TO issue paper ten,
twenty and fifty centavo bills. and
one peso notes.
Internal revenue taxes, collected
on the same basis in 1917 as in
1916. went up nearly 80 1-3 per cent
reaching the highest figure in his
tory.
With the exception of sugar. all
departments of insular trade profit
ed by the prosperity of the country.
Freight rates quintupled and sex
tupled. for sugar, and the Philip
pine producers often faced a loss on
their sales in the United States.
w men lIlt pi lCe VI sugar III IliN
United States was fixed by the food
control board, it was so regulated
that under existing trans-Pacific
rates profitable transactions in Phil
ippine sugar were no longer posi-
BILE Samuel Ferguson, president OF
the government bank, made spec
ial trip to Washington in the inter
ests of the sugar men and got a
pledge of additional ships for the
Philippines. Whether this pledge in.
! Guided provision for lower freight
rates is not known here. Unless the
new ships bring a substantial reduc
! ton in existing rates. it is believed
/ they will not help out the sugar in
dustry.
Hemp, with all the world de
handing it for ships and war yes
sells, played big role in the pros
perity OF the islands. During 1917 i
reached record prices and paid it!
producers handsomely. Hundreds
of owners of plantations have be
Scores of Americans who years ags
picked out Mindanao, the land o
the untamed Moro, as ideally suit
ed to hemp, and then struggled
along for years on the verge o
bankruptcy, suddenly found thei
optimism justified and their year
of toll and hardship repaid by tw'
years of Undreamed of prosperity.
>; Likewise the cocoanut planter
I have been carried along on the ores
of the wave Of success. During tn
early part Of the year, prices ros
steadily as American manufacturer
demanded the product at any cost
But freights also rose. This lie,
many business men to figure that
it were possible to sell the raw co
pra-the dried meat of the cocoa
nut-at a profit, it would be mucl
more profitable to extract the OF
locally, save a large part Of tn
; freight costs and count that savin
as profit. During the year, full
twenty cocoanut oil mills, all O
small capacity were started in Ma
Mia alone and in the provinces a
many more were inaugurated.
The tobacco planters, manufac
turers and dealers have also had
year of unparalleled business sue
cess. The demand for Philippine tc
bacco and cigars from the Unite
States has been such that Philippin
growers and planters have been VI
able to meet it. The year saw tn
cigar production of the Islands yer
largely increased while the acreag
planted to tobacco was also largel
increased. But there are no signs Q
abatement of the demand.
A similar story can be told i
every line of Philippine business
The country is literally rolling i
money.