Proceedings of the first Independence congress : held in the city of Manila, Philippine islands, February 22-26, 1930 / Published under the direction of Dean maximo M. Kalaw, executive secretary, University of the Philippines.

40 INDEPENDENCE CONGRESS PROCEEDINGS

ever, that when this Congress convenes for the purpose of setting forth the definite stand of the Filipino people regarding the
political future of their country, it would be absolutely necessary for us to become acquainted with the conditions of our
public finances and of the- resources which would be available
for the maintenance of a government fully able to take care of
its private and international obligations.
Having been reared during the last years of the Spanish
regime; a participant in revolutionary events and in the affairs
of the ephemeral Philippine Republic; a close observer first
and then a co-worker during the last thirty years of the American administration in its different stages; placed by the whims
of fortune at the head of the Department of Finance where
I have scrutinized the resources and the needs of the Government and handled its Budget during the last fourteen years,
I find myself under circumstances which make it my unavoidable duty to respond to the call made upon me and contribute
my mite to the work of this Congress, by informing its members of the prospects of our public finances and of what should
be our attitude upon assuming our obligations as an independent nation. Leaving aside my ordinary duties, I have, therefore, gathered all the data which I have been able to collect
during the short space of time at my disposal, and I now stand
before you to submit to your wise consideration the result of
my humble efforts.
The discussion of "The Possible Budget of the Future Phil.
ippine Republic" immediately present for our analysis the two
principal aspects of the question, the political and the financial;
that is, the Budget as an administrative procedure or system
of the public finances, and the Budget as an estimate of the
probable income and expenditures of the Government under
the circumstances that will probably prevail in'the Philippines
after independence has been secured. Both aspects of the question are important, but I shall speak only briefly of the first
and more at length of the second, which is of greater importance
on this occasion.