PHILIPPINE SUGAR YIELDS LOWEST IN WORLD Philippine soil is not as prolific as other sugar-producing regions of the world. When the rattooning quality of the Cuban soil, which obviates yearly planting or 10 to 15 years, is taken into account the Philippines agricultural weakness ecomes a source of sympathy rather than fear. The average yield of sugar on n acre of land in the Philippines is less than 2 long tons, while Louisiana averges 3 tons, Porto Rico 5 tons, and Hawaii nearly 61⁄2 tons. The following table ives the details of the Philippine yields: The Philippines has been the recipient of advices from those having adverse interest to diversify their production, and to that end, agree willingly to their plan of restricting the imports of Philippine sugar into the United States. There is already a reasonable diversification taking prevailing investment conditions into consideration. The statistics that follow tell the whole story: Value 1923 Value 1918 Per cent total Value of principal exports of the Philippines for the last 10 years from 1919 to 1927 [Compiled from the annual reports of the Philippine Bureau of Customs] 1 11.69 $15, 207, 850 13. 45 $49, 619, 260 32.83 $25, 518, 727 28.96 $25, 582, 555 28,77 28,794. 983 37. 45 28, 182, 318 18.64 29, 729, 439 16. 36 21,529, 423 22.52 8,282, 217 9.40 8,670, 115 2.04 4, 191, 515 3.70 8, 581, 581 787, 562 3,726, 417 4. 23 88, 115, 322 100,00 95, 583, 296 1000 Sugar $34, 519, 123 28. 58 $41, 868, 086 30.94 $45, 514, 002 30.57 $32, 229, 634, 23. 54 $50, 295, 959 C Value Per cent total export s ucts. Hemp and maguey products. 28, 639, 753 Tobacco prod 35, 115, 978 ucts.. 10, 517, 446 Lumber and 2,793, 807 LN 4,322,696 2% Total... 120, 752, 990 100. 00 135, 344, 662 100. 00 148, 877, 205 100. 00 136, 884, 319 100. 00 155, 574, (85-100). V SUGAR PROFITS IN UNITED STATES, HAWAII, AND PORTO RICO At these hearings an unending wail was heard for two days about "hardly making money” and hence the necessity of limiting Philippine importations and a higher tariff protection. But the plain figures given in Moody's Analyses of Investments and other sources, especially the Manual of Sugar Companies prepared by Farr & Co., tell a more hopeful tale. I am now quoting from the brie filed with the Ways and Means Committee jointly by the United States Sugar Association, the Association of Mill Owners of Cuba and the American Chamber of Commerce of Cuba, all representing American investments in the Cubs Republic: "Companies representing over half of the sugar production of Hawaii earned on the average per share of capital as high as 30.6 per cent in one year, while the lowest year the average earning per share amounted to 15.7 per cent. There was paid out in profits per share between 12.9 per cent and 19.68 per cent. These earnings do not include the earnings of the agency companies which also show similarly large earnings. "Companies representing half of the Porto Rican production show percentage of profits paid per share common exceeded 11 per cent. Earnings per share common have ranged from 12.22 to 27.50 per cent after allowing for preferred dividends. "Companies representing over three-fourths of the beet sugar production in the United States show earnings, after depreciation of taxes, per share common of between 6.23 to 33.84 per cent, after allowing for preferred dividends, while the mounts paid per share common have ranged from 13.75 to 15.86 per cent." The Great Western Sugar Co., which produces approximately one-half of the beet sugar output of the United States, paid an average of 32 per cent dividends n 11 years from 1917 to 1927, while the San Carlos Milling Co. in the Philippines, representing the highest profit-making company, averaged only 23 per ent during the same period. PHILIPPINE SUGAR DIVIDENDS The following statement is taken from the fortnightly report of the Manila Stock Exchange, dated November 30, 1928. The stocks quoted are of the most fficient and prosperous sugar central companies in the Philippines. The statenent refutes the allegations from adverse sources of "enormous profits" in 'hilippine sugar. The Philippine-American Chamber of Commerce, New York City, Mr. Charles . Orth, president, has gone on record as opposed to the limitation of Philippine nportations into the United States. This organization consists of American ompanies doing business with the Philippines. Its resolution, approved Janary 9, 1929, follows: HE PHILIPPINE-AMERICAN CHAMBER OF COMMERCE ANNUAL MEETING, NEW YORK CITY Whereas various proposals have come before Congress or have been urged on he public within the recent past, having in view either (1) the establishment of ariff duties on products of the Philippines exported to the United States, or (2) he actual limitation of the amount of such Philippine products to be permitted o enter the United States free of duty; and Whereas it would be contrary to the organic law governing the Philippines and o the moral obligation of the people and government of the United States to he people of the Philippines to modify in any way the principle of free trade between the United States and the Philippines: Therefore be it Resolved by the Philippine-American Chamber of Commerce, That it is unqualiiedly opposed to any restriction or limitation to the free movement of products between the United States and the Philippines in either direction; and be further Resolved, That a copy of these resolutions be sent to every Member of its Congress of the United States. PHILIPPINE LEGISLATURE PROTESTS The Philippine Legislature approved in its last session the following resoluti protesting against the Timberlake resolution, setting forth cogent reasons support ing the protest: "Whereas, there exists at present in the United States a more intense agitati. in favor of the limitation of the free entry of Philippine sugar into the America market, a proposition having been presented in the United States Congress during the last period of its session with that end in view; "Whereas the Philippine sugar production scarcely represents 8 per cent d the total consumption of sugar in the United States and, therefore, it can 13 constitute, now and much less later, a menace to American domestic productics "Whereas such limitation exclusively aimed against the Philippines, would be an unjust discrimination as it does not affect Hawaii, or Porto Rico, which are also possessions of the United States and whose sugar export to the United States is much larger than that of the Philippines; "Whereas the existing free-trade relation between the United States and t Philippines has been decreed by the Congress of the United States as a loge result of the political relations between these two countries; "Whereas it would be unjust and highly prejudicial to the interests of the Philippines that such free-trade relations should suffer any setback, in so far a the Philippines is concerned, while the present political relations between thes two countries remain; "Whereas it is not true that this country desires an exclusive production sugar, for diversified agriculture is an evident fact in the Philippines as has bee shown by the constant increase in the production of rice and copra, as well as b the progress in the production of coffee, kapok, rubber, fruits, and others; and "Whereas such limitation would be seriously disastrous to labor and th general commercial and agricultural interests of the country, particularly of the local sugar industry, and would also be the beginning of a more intense agitati against other Philippine products, which are considered more or less competit of American domestic products: Therefore be it "Resolved by the House of Representatives with the concurrence of the Philipp Senate, To announce, as it is hereby announced, to the Congress and people of United States, the firmest and most energetic protest of the Philippine Le lature against any legislation tending to limit the free entry of Philippine star into the United States, while the present political relations between the ** countries continue, and at the same time to ask, as it hereby asks, the said Am can Congress to disapprove any legislation with that purpose in view; be it al "Resolved, To send copies of this resolution to the President and the Congre of the United States, and to the Secretary of War, through the resident comm sioners and Governor-General of the Philippine Islands." GOVERNOR STIMSON AGAINST TIMBERLAKE RESOLUTION It is a source of gratification to the Filipinos that their Governor General Hon. Henry L. Stimson, is militantly opposed to the Timberlake resolution. I a speech before an audience of American business men at Manila on August 15 1928, he used the following words: "Mr. Fairchild alluded to another and most important matter when he referme to the steps that are being attempted in the United States to-day to curta freedom of trade with these islands. No words can adequately express the dept of my feeling on that subject, because the attempt to restrict freedom of train between the islands and the United States represents about the worst possite backward step that could be taken in American policy. It would mean g back to those old doctrines of colonial relations of 300 years ago, which held the the colonies of a country existed solely for the benefit of the mother country a could be exploited at will by that country. It would mean going back to doctrine which caused the withering up throughout the centuries of the flourishi colonies of Portugal and Spain and would have done it for Great Britain if had not been for the American revolution. "Now, I can not believe that any such backward step will be taken by America to-day. The American flag stands to-day not only for individual freedom bat |