The Barre daily times. (Barre, Vt.) 1897-1959, 1918-03-21
WAR is BOOMING
THE PHILIPPINES
The Islands Have in the Past Year En-
joyed the Greatest Prosperity
Ever Known There.

Manila, March l.-(Correspondence o
the Associated Press The Phlippin,
islands have enjoyed during the pas
twelve months the greatest prosperity il
their history. War conditions, price,
and demands are directly responsible
In the past two years, the balance OF
trade in favor of the islands has beer
$50,000,000, 10 per cent of which is e
be accounted for in the Unprecedented
prosperity of 1917.
Internal trade has leaped to unheard
of proportions. There is more money in
every part of the Philippines to-day than
ever before More business is being done
and the currency reflects this condition
Despite constant accretions to the cur
rency, through importations from United
States minis, the Philippine bank the
government financial institution, 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 l-3 per cent reaching the
highest figure in history.
With the exception of sugar, all de-
partments of insular trade profited by
the prosperity of the country. Freight
rates quintupled and sextupled, for sug-
ar, and the Philippine producers often
faced loss on their sales in the United
States.
When the price of sugar in the United
States was fixed by the food control
board, it was so regulated that under ex-
isting trans Pacific rates profitable trans
actions in Philippine sugar were no long
81
of the government bank, made special
trip to Washington in the interests of
the sugar men and got pledge of ad
ditional ships for the Philippines.
Whether this pledge included provision
for lower freight rates is not known
here, Unless the new ships bring a sub
stantial reduction in existing freight
rates, it is believed they will not help
out the sugar industry.
Hemp, with all the world demanding
it for ships and war vessels, played
big role in the prosperity OF the is
lands During 1917 it reached record
prices and paid its producers handsome
ly. Hundreds of owners of plantations
have become rich in the past two years.
Scores of Americans who years ago
picked out Mindanao, the land of the
Moro, as ideally suited to hemp,
and then struggled along for years on
The verge of bankruptcy, suddenly found
their optimism justified and their years
of toll and hardship repaid by two years
Of undreamed of prosperity.
Likewise the cocoanut planters have
been carried along on the crest of the
wave of success. During the early part
1f ho vpar nricos raSa standby a q Ap,ar
can manufacturers demanded the prod
net at any cost. But freight also rose |
This led many business men to figure |
hat if it were possible to sell the raw |
,orpra-the dried meat Of the coeoanut--
1t profit, it would be much more prof |
table to extract the oil locally, save a
arge part of the freight costs and count |
hat saving as profit. During the year, /
ully twenty cocoanut oil mills, all of
mall capacity, were started in Manila
lone and in the provinces as many more
we're inaugurated.
The tobacco planters, manufacturers
nd dealers have also had a year of I'M
aralelled business success. The de-
nand for Philippine tobacco and cigars
rom the United States has been such
hat Philippine growers and planters
ave been unable to meet it. The year
aw the cigar production of the islands
cry largely increased while the acre
ge planted to tobacco was also largely
Increased. But there are no signs of
bstement of the demand.
A similar story can be told in every
ne of Philippine business. The country
J literally rolling in money.