The Economy During the American Period

Spain ceded Philippines to

United States through an

agreement enshrined in

the Treaty of Paris.

Spain would receive $20

million as indemnity for the

war and the unfinished

building projects.

William Howard Taft

United States defined and

justified its colonial role as

one of the tutelage:

preparing the Philippines for

eventual independence.

President Theodore Roosevelt

Also called the Philippine

Commission

The growth and development

of American Trade in the

Philippines was spelled out to

be major economic goal that

must be met.

“…Commission viewed the Philippines as an immense field for sale of American goods…

Corpuz(1997) narrates that:

The Commission adjudged the agricultural tools and equipment used in the islands as wretched and crude…

Corpuz(1997) narrates that:

For manufactured and processed goods, it saw a rich market for drugs and chemicals, wheat flour, preserved meats, etc.,…

Corpuz(1997) narrates that:

The Commission optimistically anticipated a flow of American capital and technology in developing the economy of the islands.

Corpuz(1997) narrates that:

to further the strengthen the

American control of the

Philippine economy, various

legislations were approved

by the US Congress.

This legislation caused

Philippine trade with the US

to sharply increase from

Php63.8 million in 1895 to

Php516 million in 1940.

but... what isPayne-Aldrich Act?