The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-05-03
'U.S.-FILIPINO'
.TRADESTUDIED|
Held Point in Favor of
Early Complete indie
pendence Plea
By HARRY w. FRANTZ

w =
J. NJ. Elizalde, businessman-phil-
osopher of Manila, has arrived
here to lend counsel and support
to President Manuel l.. Quezon's
movement for early Philippine in
dependence and reciprocal trade
program with the United States.
He is to serve with the joint
Philippine United States commit
tee of experts in a new canvass
of economic relations.
Elizalde has been officially rec
ognized in the Philippines as the
model employer" of 10000 per-
sons engaged in cOconut, sugar,
hemp, iron ore, merchandising,
insurance, shipping and other en-
terprises which extend to four
continents. Although not an Off
cial, his personal prestige carries
political influence in the islands.
Elizalde & Co., Inc, of which
he is president, has a red calf
bound prospectus frightened with
quotations from Marcus Aurelius,
sea-verse of John Masetield, and
J. NJ. Elizalde's business slogan:
"When fortune comes do not en-
ioy all of it; When advantage
comes do not take all of it." lie
has fostercd a system of mini
mum standards" for his workers.
PROMPT SETTLEMENT
FAVORED
Elizalde in an interview dis
cussed Observation-Disclosures rela-
tions from the view of Il business
man, and asserted the possibility
that prompt and clear settle
ment of Philippines political stat
us would pave the way to COM
mercial relationships from which
the United States might profit
greatly.
"The Philippines is not a new
market for the United States,
but an already established going
market valuable, and capable OF
much expansion" he said.
"The Philippines market Is
probably the most profitable sin
gle market for American export
ers. They might ship to Argen-
tina, Brazil, or other vountries for
volume of transactions, but sales
there would be competitive with
German, Japanese and other
traders. In the Philippines, Amer
lean exporters can sell for proilt,
due to the fact that they enjoy a
protected market. American lines
made money even during years OF
depression. /
He thought it important that
the Philippines should learn soon
whether their sugar trade with
the United States is to be perma-
nent or must eventually be hqui-
dated. In the latter event he
commented upon the necessity OF
allowing a fair period of readJust-
ment in the islands to care for
existing investments.
BELIEVES LAW
DEFICIENT
Weakness in the present Philip
pines independence law, EliZalde
believes, lies in the fact that the
commonwealth lacks power to
readjust it's economy during the
preparatory period before indie
pendence. "The commonwealth
government" he said, "lacks pow
er to conclude treaties and agree
ments with other governments,
The debt settlement provisions IN
the present law are very onerous.
The commonwealth is expected to
liquidate it's debts within a pc
Rod of 10 years, precisely during
the span of time it must incur
large expenditures in preparation
for independence"
Elizalde pictured glowing fu-
ture for the mining industry in
the islands.
1.-THE Philippines" he said, can
supply America with many indiS-
pensable primary materials which
she actually needs and uses.
These can be made basis for
recinrncitY"