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.

ECONOMIC SECTION

45

trade between the United States and the Philippines established
until 1909, after the ten-year period stipulated with Spain. It
would be a matter of strict fairness and justice to grant time
enough to the Americans and foreigners doing business in the
Philippines, or with the Philippines, and to the Filipinos themselves to arrange their interests and adjust their business to the
new conditions without great hardship. However, if we desire to arrive at a safe conclusion, our analysis must be based
on the hypothesis, considered as the least favorable by the
opponents of independence, because it will be the test for our
attitude as regards our political future. In our deliberations,
we shall, therefore, start from the assumption that Philippine
independence will come immediately and that it will bring with
it the sudden cessation of free trade with the United States.
The most important economic problem that independence
will bring with it is the cessation of this free trade, which
will affect the Philippine products now being exported to the
United States duty-free under the Payne-Aldrich Act.
The value of the Philippine exports during the year 1928
was P310,109,000, of which 75 per cent, or P231,172,000

went to the United States. The exports
were as follows:

to the United States

Sugar......
Oil........................

C o p ra......................
Hem p............
Tobacco..............
Em broidery.................
Dessicated coconut.............
H ats........................
L um ber...................
Cordage
Manufactured shell............
Copra meal..............
Gums and resins...........
M aguey...................
Kapok....................
Miscellaneous.................

P91,398,000
46,479,000
35,207,000
19,060,000
9,229,000
8,713,000
7,445,000
4,560,000
3,285,000
1,564,000
863,000
735,000
567,000
409,000
122,000
1,536,000

P231,172,000