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.

50 INDEPENDENCE CONGRESS PROCEEDINGS

be to look for other markets for our products and sell what
we have on hand at the time, if not at a profit, with as little
loss as possible. Subsequently, even supposing that some
sources of wealth are lost to us in their entirety, others will
necessarily spring up and help us to provide for our most
urgent needs. Emulating the good example of the people of the
Cagayan Valley, we shall plant our fields to crops offering
better prospects of gain such as rice, corn, cassava, pineapple,
rubber, coffee, camphor, etc., and this enforced diversification
of our agriculture will be another blessing that independence
will bring with it. Thus I estimate that while our exports to
the United States will go down 46 per cent our total exports
will decrease from P300,000,000 to P236,000,000, a decrease
of only 24 per cent.
The national income has been the object of study by two
different parties, the Bureau of Internal Revenue and Mr.
Lyman P. Hammond. Using different methods of approach,
the result of both investigations is practically the same: that
the national income in 1926 amounted to approximately
P800,000,000, or, to be more exact, P813,000,000. A cursory
examination of our statistics authorizes us to place this figure
very conservatively at P825,000,000 for 1928. According to
the data analyzed by us, the decrease in the national income
that would be caused by the cessation of free trade would
amount to P70,000,000; but allowing a margin for other
factors, we will assume that decrease to be P100,000,000. Deducting this sum from the estimated national income of
P825,000,000 in 1928, and disregarding the increase in production since then, we obtain P725,000,000 as the income
of the nation upon becoming independent. We arrive at this
result under the supposition that free trade will cease immediately, without leaving our producers and merchants time to
prepare to face the new state of affairs. If things happen
otherwise, circumstances will be different and the decrease in
cur national income will naturally be smaller. Hence, the
great importance of the proposed campaign to urge the people
to prepare for independence by changing crops or reducing the
cost of production thereof.