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

67

To increase the productive wealth is the keyword, the basis,
the vertebral column of the stability of a sovereign and free
Philippines. The other aspects of the economic problem of the
future Philippine Republic are nothing but gestures, necessary
incidents of this foundation, of the structure of our stability.
The first thing is production; it comes before manufacturing
and trading. We should produce to such an extent as to face
the growing necessities of an independent country. Only last
month, the Chamber of Commerce of the Philippine Islands
made an appeal urging all alive elements of the country to
unite their forces to trace, coordinate, and execute a national
plan comprehensive of economic development as necessary when
we reap within a short time the inherent rights of self-government as when the concession of freedom is long delayed.
If production has precedence over commerce allow me before
discussing fully the subject assigned to me to offer a way of
increasing our productive wealth. It is a well-known fact that,
although agriculture is the source of our great wealth, only a
small portion of our fertile soil is now under exploitation and
that immense tracts of land adapted to agricultural production
remain unproductive, waiting for diligent hands and for the
enterprising capital. Only 12.5 % of our cultivable land is
cultivated. The very great extensions of virgin soil are found
in the fertile regions of Mindanao. There is the place, therefore, where we should direct ourselves to increase our production. It is our privilege and our duty as Filipinos to participate to a great extent in the exploitation, not only of our
agriculture, but also of other natural resources of the country.
The most extensive soils of the Mindanao public domain invite
investment. It is true that there are isolated cases of wealthy
Filipinos who have investments in that exuberant region, but
it is necessary that we make collective investment forming corporations. This country is ours, and if we do not decide to
invest our capital in the buying and exploitation of these lands
in Mindanao and we do not allow outsiders to do it, we shall
be obstructing our own economic progress and making it difficult to solve the problem of increasing our productive wealth.
There is much disposable capital, but it is afraid of investment.