Citation
Annual report of the Chief of the Bureau of Insular Affairs

Material Information

Title:
Annual report of the Chief of the Bureau of Insular Affairs
Series Title:
Annual reports, War Department
Creator:
United States -- Bureau of Insular Affairs
Place of Publication:
Washington
Publisher:
G.P.O.
Frequency:
Annual
regular
Language:
English
Physical Description:
v. : ; 22 cm.

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Subjects / Keywords:
Insular possessions -- Periodicals -- United States ( lcsh )
Genre:
federal government publication ( marcgt )
serial ( sobekcm )

Notes

Dates or Sequential Designation:
1924-
Numbering Peculiarities:
Report year ends June 30.

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Source Institution:
SOAS, University of London
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
557807 ( ALEPH )
OCM03883729 ( OCLC )
sn 84032311 ( LCCN )
Classification:
HB325.3 ( ddc )

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Preceded by:
United States. Bureau of Insular Affairs.Report of the Chief of the Bureau of Insular Affairs, War Department

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Full Text
ANNUAL REPORTS - - - WAR DEPARTMENT
ANNUAL REPORT OF THE
CHIEF OF THE BUREAU OF
INSULAR AFFAIRS - 1933
HB
325.3
849,950




ANNUAL REPORTS. WAR DEPARTMENT
FISCAL YEAR ENDED JUNE 30, 1933
ANNUAL REPORT
OF THE
CHIEF OF THE BUREAU OF
INSULAR AFFAIRS
1933
united states
government printing office
washington : 1933
For sale by the Superintendent of Documents, Washington, D.C.
Price 5 cents




ANNUAL REPORT
of the
CHIEF, BUREAU OF INSULAR AFFAIRS
War Department,
Bureau of Insular Affairs,
August 22, 1933
The Secretary of War
Sir: I have the honor to submit the following report of the Bureau
of Insular Affairs for the fiscal year ending June 30, 1933.
PERIODS TO WHICH THE SEVERAL SECTIONS OF THE
REPORT PERTAIN
In the Philippine Islands the fiscal year is identical with the calendar
year. The Philippine section of this report, being based largely upon
the latest annual report of the Governor General and the statistical
data pertaining thereto, reflects, in general, the operations of the
Philippine government for the calendar and fiscal year ending Decem-
ber 31, 1932. In certain cases, however (specifically indicated in the
text), the Bureau's report regarding Philippine affairs also includes
matter pertaining to the period January 1 to June 30, 1933.
In Puerto Rico the fiscal year corresponds to that of the United
States Government (July 1-June 30), and the period covered, in
general, by this report is from July 1, 1932, to June 30, 1933.
As regards the Dominican customs receivership, the accounts and
statistics are based upon the calendar year, and the period to which
the present report specially pertains is, accordingly, January 1 to
December 31, 1932.
THE PHILIPPINE ISLANDS
congressional consideration of philippine questions
Upon the reconvening of the Seventy-second Congress in December
1932, the Senate, in conformity with its resolution adopted July 1,
1932, resumed consideration of bill H.R. 7233, "To enable the people
of the Philippine Islands to adopt a constitution and form a govern-
ment for the Philippine Islands, to provide for the independence of
the same, and for other purposes." That bill, known as the Hare
bill, passed the House of Representatives on April 4, 1932, by a vote of
306 to 47; was referred to the Senate on April 5, 1932, and reported out
1 This report is dated as of the date of relief from duty in the Bureau of Insular Affairs of the officer signing
it. The actual submission of the report was necessarily delayed until a later date, pending receipt at the
Bureau of Insular Affairs of the annual reports upon which it is partly based.
1


2
REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
of committee on April 26, 1932, with an amendment substituting for
the text of the Hare bill that of Senate bill S. 3377, known as the
Hawes-Cutting bill. During the discussions which ensued on the
floor of the Senate, the bill was further amended and on December 17,
1932, was passed by that body without a record vote.
The bill was then referred to a conference committee of both Houses
which came to an agreement on the substance and submitted its
report. The report was adopted by the Senate on December 22,
without a record vote, and by the House on December 29 by a vote of
171 to 16. The President returned the measure thus agreed upon
by the two Houses, without his approval on January 13, 1933,
accompanied by a veto message (H.Doc. No. 524, 72d Cong.) setting
forth the reasons upon which his action was based.
The bill was repassed over the President's veto by the House on
January 13, 1933 (the vote being 274 to 94) and by the Senate on
January 17, 1933 (the vote being 66 to 26) and became Public No. 311,
Seventy-second Congress.
Throughout the entire period of the consideration of the bill by the
Congress, the then Secretary of War and the Chief of this Bureau
recommended against the enactment of the measure. The principal
features of the proposed legislation to which exception was thus
taken, and the consideration upon which the objections were based,
have been set forth in correspondence, statements, and hearings that
are of public record. They are, therefore, not reproduced in this
report.
The concluding section of the bill reads as follows:
Sec. 17. The foregoing provisions of this act shall not take effect until accepted
by concurrent resolution of the Philippine Legislature or by a convention called
for the purpose of passing upon that question as may be provided by the Philippine
Legislature.
The measure, as enacted, includes provisions against which objection
has been voiced by certain of the Filipino leaders and other elements of
the insular population. The Philippine Legislature met in regular
session on July 17, 1933, and its subsequent proceedings have been
devoted chiefly to animated discussions of questions such as the
complete acceptance of the act by the legislature, acceptance accom-
panied by reservations, rejection of the provisions, or resort to a
procedure which would permit of a more direct expression of the
popular will respecting the questions at issue. Up to October 10 no
definite action had been taken by the legislature.
Appendices A and B to this report list certain acts of Congress
enacted during the second session of the Seventy-second Congress and
the first session of the Seventy-third Congress, the provisions of which
have more or less application to the Philippine Islands.
The extent to which those islands will be affected by the various
laws enacted during the first session of the Seventy-third Congress,
with especial view to promoting agricultural and industrial recovery
and adjustment in the continental United States, cannot as yet be
fully determined. The measures in question were presumably not
formulated with primary regard to the needs of the Philippine
Islands nor to the conditions obtaining there; and the wording in
certain cases, taken in connection with that of section 10 of the
Organic Act of the Philippine Islands, is such as to suggest doubt as to
whether the direct operation, in the Philippine Islands, of some of the


3 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
provisions was, or was not, contemplated by the Congress. Philippine
fiscal, trade, and other relations with the United States are, however,
such that the economic life of the islands can hardly fail to be affected
in important ways by the operation, within the continental United
States, of the several laws in question. The conditions under which
the principal Philippine products can be marketed in the continental
United States constitute a factor of supreme importance as regards the
economic welfare of the islands and the indications are that those
conditions may be affected in material degree by the operation of
recent legislation, the detailed results of which are not yet fully
determinable.
With respect to the Agricultural Adjustment Act, approved May
12, 1933, the Secretary of Agriculture has advised the Secretary of
War that the act is not directly applicable in whole or in part to the
Philippine Islands. The compensating tax on imports into the
continental United States, prescribed by section 15 (e) of the act (and
equal in amount to the corresponding processing tax levied on domes-
tic production) is now being applied to certain products imported
from the Philippine Islands and the act may thus have ultimate ma-
terial effects upon the Philippine-American trade.
The National Recovery Administrator likewise has advised the
War Department to the general effect that it is not planned to extend
to the Philippine Islands the President's reemployment agreement,
due to the different hours of labor and wage rates which obtain in the
continental United States and the islands, respectively. The Ad-
ministrator has, however, expressed the view that section 3 (a) of the
National Recovery Act, governing codes of fair competition, has cer-
tain application to the islands.
Widely differing conditions in the two cases would apparently make
inappropriate the regulation of Philippine industries upon the same
basis as may be suitable to the needs of the continental United States.
This fact tends to confirm the wisdom of the provision (sec. 5) of the
Philippine organic act, which prescribes that, in general, statutory
laws enacted for the United States shall not be operative in the
Philippine Islands unless Congress expressly so directs.
philippine missions to the united states
The Committee of the Philippine Legislature which came to the
United States in January 1932, remained in this country throughout
the recess between the first and second sessions of the Seventy-second
Congress and was joined early in December by Senator Benigno
Aquino, who came as a special envoy of the Philippine Legislature in
view of the absence from the mission in the United States of the Hon.
Manuel L. Quezon (whom ill health had prevented from accompany-
ing the committee), and to present the views of the legislature on the
Philippine legislation then pending before the Congress. Senator
Aquino returned to the Philippine Islands in February.
Subsequent to the passage of the Philippine Independence Act (Pub.,
No. 311, 72d Cong.), a so-called "mixed mission" headed by the Hon.
Manuel L. Quezon, came to the United States. This mixed mission'
consisted of representatives of the Philippine Legislature, the pro-
vincial governors, the Philippine press, labor, and sugar and other
agricultural interests, and represented the Independence Commis-


4 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
sion, a body the membership of which is composed of the members of
the Philippine Legislature, but which is to be distinguished from the
legislative committee mentioned above. The expressed purpose of
sending Senate President Quezon, with his party, to the United States
at this time was, in the language of the resolution adopted by the Com-
mission of Independence in a meeting held in Manila in February
1933,
in order that he may inform himself from the mission and other sources of the
situation obtaining in the United States and thus the Filipino people and their
representatives may the better be acquainted with all the facts and circumstances
before this act is submitted for acceptance either to the legislature or to the con-
vention called for the purpose.
The mission referred to in the resolution was the Committee of the
Philippine Legislature then in the United States and the act referred
to was Public, No. 311, enacted by the Congress on January 17, 1933.
Senate President Quezon accordingly arrived in Washington, accom-
panied by the so-called "mixed mission" on April 24, 1933. He
remained only a few days. On departing on April 28, 1933, he issued
a statement to the press in which, among other things, he stated his
conviction that, "the Philippine question is closed as far as the Gov-
ernment of the United States is concerned until the Philippine Legis-
lature acts * * *"
The other members of both the committee of the legislature and the
mixed mission left the United States for the Philippine Islands at, or
about, the same time as Senate President Quezon and arrived in
Manila prior to the opening of the regular session of the Philippine
Legislature on July 17, 1933.
GENERAL CONDITIONS
While indications had pointed to the probability that the Philippine
Islands would not escape a reflection of the economic depression
apparent in the continental United States and in many other parts
of the world in late 1929 and in 1930, the effects were first severely
felt in the internal affairs of the Islands in 1931. The downward
trend in the prices obtainable for Philippine export products in the
world's markets, which had serious economic consequences in the
Islands in 1931 continued throughout 1932. The secretary of finance
states in that connection:
The decline of the general economic and business conditions of the Islands for
the (calendar) year 1932 as compared with those of the previous year may be
gleaned from the percentage of increase or decrease of the following important
business indices: Average bank debits to individual accounts has (sic) decreased
by 24 percent; average bank loans, discounts and overdrafts, by 6.26 percent;:
average monetary circulation, by 12.21 percent; total corporate investments, by
7.70 percent; total foreign trade, by 13.99 percent; total gross sales, by 23.42
percent; average wholesale prices, by 17.14 percent; total freight loadings in tons-
has (sic) increased by 17.15 percent; total steamship freight in tons, by 3.44 per-
cent; total agricultural production, by 10.32 percent; and, total building construc-
tions, by 3.24 percent.
While unemployment and curtailed incomes do not entail, in
tropica] and agricultural regions such as the Philippines, the same
degree of physical suffering experienced, under similar circumstances,
in industrial countries, the situation in the islands caused some unrest
and emphasized discontent previously present in certain localities
and elements of the population. There were no resulting widespread


5 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
disorders or serious outbreaks; but the accentuation of certain un-
satisfactory conditions, having their origin in long-existing features
of the islands' social and economic systems, and affecting particularly
tenant farming in the provinces of central Luzon, led to some demon-
strations reflecting threats against public order. The conditions in
question received the attention of the local Legislature and laws were
enacted with a view to removing the causes of discontent.
The most serious breach of the peace occurred in the Sulu Province,
where, dissatisfied over the conviction of a Moro chieftain for murder,
his followers attacked a detachment of the Philippine Constabulary,
killing an officer and 13 enlisted men. In the ensuing pursuit of the
Moros by the constabulary and the resistance of the former to arrest,
3 more members of the constabulary lost their lives and 11 were
wounded. Thirty-five of the fugitives were killed and an unknown
number wounded.
The typhoon which visited the Sulu Archipelago on April 29, 1932,
took a toll of 175 lives and caused property damage estimated at
about $2,500,000. A fire destroyed a section of the walled city of
Manila on August 13, including the buildings which housed the
bureau of public works and the general land registration office, and
valuable government records were destroyed.
POLICY OF THE GOVERNOR GENERAL
At the time of the assumption of office by Governor General
Theodore Roosevelt, early in 1932, advance evidences of the more
stringent economic situation which was to prevail in the islands later
in the year were already beginning to manifest themselves. The
Governor General addressed himself with vigor and initiative to the
task of solving the problems confronting the government. In his
report of his period of office he states as follows regarding the general
program of adjustment undertaken:
Acting in the closest and most harmonious cooperation, the legislature and
the executive met this situation fairly. We reorganized the government on
lines of economy and efficiency. We revised the tax laws. We instituted a
protective tariff. We dismissed all possible personnel. And we cut the salaries
of all employees from 5 to 20 percent. * * *
At the same time, of course, positive action had to be taken to develop and
foster industries in order to lay a broader base for prosperity in the future.
Besides this, particular attention had to be given to the welfare of the small man,
for it is he on whom the effects of a crisis always bear down with particular force.
Of course, while doing this, the great functions of government—health and
primary education—had to be maintained.
Certain of the detailed steps taken to promote the indicated
program are hereafter mentioned under appropriate headings.
THE PHILIPPINE LEGISLATURE
The second session of the Ninth Philippine Legislature convened on
July 16, 1932, and adjourned on November 8, 1932. The Governor
General called the Senate in special executive session from November
11 to 14 to consider the large number of appointments incidental to
governmental reorganization. A special session of the legislature
was called on December 7, 1932, but, pursuant to a concurrent
resolution adopted by that body, the Governor General suspended
the session to give the members of the legislative committees addi-


6 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
tional time to study the measures presented for consideration. A
second special session was called on January 16, 1933, which, at the
end of the legal 10-day period, was extended to January 31.
These sessions were marked by the passage of various important
measures directed to enabling the Philippine economic structure to
meet the situation caused by the depression affecting a large part
of the world.
The bills passed numbered 191, of which 146 were approved and 45
vetoed by the Governor General. One bill was vetoed by the Presi-
dent of the United States.
Among the more important measures enacted and approved were
acts reorganizing the departments, bureaus, and offices of the insular
government; a new assessment law; an act imposing heavier penalties
for violations of the usury law; laws regulating the relationships of
landowners and tenants; several laws in the interest of labor; a law
to encourage and protect the fishing industry; several laws amending
the tariff law with a view to protecting and promoting Philippine
industries as follows:
Act No. 4034, to protect the Philippine Islands in the matter of importations
from foreign countries having depreciated currencies (the Parity Law).
Act No. 4035, to prevent "dumping."
Act No. 4036, to remove the previously existing prohibition against the levying
of duties of more than 100 percent ad valorem.
Act No. 4037, imposing increased duties to protect the meat, lard, and egg
industries of the Philippine Islands.
Act No. 4038, increasing the rates of duty on boots and shoes.
Act No. 4053, a general tariff revision act.
Act No. 4064, to increase the rates of duty on cinchona bark and derivatives.
The general authority delegated by Congress to the Philippine
Legislature, under section 10 of the Organic Act, to make and amend
the tariff laws of the islands (except as regards trade relations with
the United States), is limited by provisions contained in the same
section, to the effect that such legislation shall become effective only
with the prior approval of the President of the United States. Each
of the acts just listed received the President's approval. According
to an opinion rendered by the Attorney General of the United States,
certain of the provisions of Act No. 4053 extended to matters beyond
the scope of the authority delegated by Congress to the Philippine
Legislature. The Attorney General stated, in effect, however, that
these particular provisions were separable from the remainder of the
act, and that presidential approval of the act as a whole would not
operate to give legal effect to the provisions in question.
The following acts, also containing provisions the legal effect of
which was contingent upon the prior approval of the President of the
United States, received that approval:
Act No. 4041, an act to cede the usufruct of certain fisheries located on land
of the public domain to a neighboring municipality.
Act No. 4043, an act to authorize the filing of certain land claims.
Bill H. No. 2602, to increase the immigration head tax in the
Philippine Islands, was forwarded for the President's action but,
being disapproved by him, failed to become law.


7 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
GOVERNMENT REORGANIZATION
Successive Governor^ General have commented upon the desira-
bility of such reorganization of insular governmental agencies as
would operate to eliminate certain overlapping of iunctions and to
overcome a tendency toward the overstaffing of public offices which
had become evident with the growth of the governmental structure
and the extension of administrative services. Act No. 4007, enacted
during the last regular session of the legislature, was directed to
securing increased efficiency in government at less expense to the
people of the islands. The act, which does not purport to change the
fundamental structure of the government, contemplates, as one
feature, the grouping together under the same department head, of
those administrative agencies charged with similar or closely allied
functions, thus tending to centralize control and operation of related
services. The number of executive departments remains unchanged;
but the designations of the several departments and the distribution
of functions have been modified in certain respects. The six depart-
ments formerly existing were: The department of public instruction,
the department of the interior, the department of finance, the depart-
ment of justice, the department of agriculture and natural resources,
and the department of commerce and communications. The new
departmental designations are: The department of public instruction,
the department of finance, the department of justice, the department
of agriculture and commerce, the department of public works and
communications, and the department of interior and labor.
Governor General Roosevelt estimated that the reductions in per-
sonnel under the reorganization would aggregate approximately
2,000, or 10 percent. In order to ameliorate the hardships attendant
upon these separations from the public service at a time when oppor-
tunities for reemployment would be more limited than usual, pro-
vision was made (in Act No. 4051) for the payment to those released
under the reorganization of gratuities representing a month's pay
for each year of service up to 24.
Questions have been raised regarding the expediency or legal
validity of certain of the provisions included in Act No. 4007, and
the ultimate net results, administrative and economic, of the practical
operation of the act have not yet been fully demonstrated.
i
FINANCE
The total receipts and expenditures for the fiscal (and calendar)
year 1932 are shown in appendix D. The total revenues from ordinary
sources, as shown in the annual report of the secretary of finance for
the year 1932, amount to $28,295,158, a decrease of $4,586,165 (about
16 percent) from 1931. The decrease reflects, in the main, the falling
off of revenue collections, traceable to the general business depression
existing throughout the Islands. As during the preceding year, the
greatest decline was in the sales-tax receipts, and the rate of decline
from the 1931 receipts equaled that of 1931 from 1930 (23 percent).
Income-tax receipts declined 12 percent, as compared with 10 percent
for the preceding year. Prior to December 21, 1932, the date when
various of the amendments to the tariff act became effective, there was
a slight increase in customs receipts due, in large measure, to rather
16380—33-2


8 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
heavy importations from foreign countries, not improbably in antici-
pation of higher duties.
The total ordinary expenditures amounted to $32,860,824, a de-
crease from the preceding year of $5,349,925, or about 16 percent.
One of the important measures of economy resulting in decreased
expenditures was the exercise by the Governor General of the power,
previously granted by the general appropriation act in anticipation of
the possibility that actual revenues might fall below advance esti-
mates, to reduce, when necessary, the appropriations authorized by
not more than 10 percent of the amount thereof.
The current general fund surplus as of December 31, 1932, was
$14,295,333, a decrease of $2,247,703 from the corresponding balance
on December 31, 1931. Of that amount, the report of the secretary
of finance indicates that approximately $1,295,000 represented cash
actually available and unobligated as of December 31, 1932.
During the year the capital surplus was diminished by the transfer
of $3,208,932 from that surplus to the current surplus, special fund.
The Governor General commends specially in his report the spirit
of cooperation shown by officials of the executive and legislative
branches of the Government in giving effect to measures of economy
that enabled the insular government to close the year in sound
financial condition.
The fact that the banks of the Philipping Islands continued, during
the acute banking crisis that culminated shortly subsequent to the
period actually covered by the report, to function normally, except as
regards restrictions imposed by the Federal authorities with reference
to transactions involving gold and exchange transactions beyond the
Islands, reflects most creditable achievement. Speaking of the
banking situation, the secretary of finance, in his annual report, says:
The general business of banks and trust companies during the year under review
showed a marked improvement over that of 1931. The increase in their total
resources by F9,559,163 ($4,775,082), in spite of the world-wide economic disturb-
ance, is an indication of an attitude of continued confidence in these institutions
by the people of this country.
Bonded indebtedness.—During the fiscal (and calendar) year 1932,
no additional Philippine Government bonds were issued. During the
same period $2,256,000 of insular bonds and $238,000 of provincial
and municipal bonds were canceled, making a reduction in the total
outstanding bonded indebtedness of the Philippine Islands of $2,494,-
000 for the year 1932. On December 31, 1932, the total outstanding
bonded indebtedness of the Philippine Islands, consisting of $64,463,-
500 insular and $9,128,500 provincial and municipal bonds, amounted
to $73,592,000. If from this total there be deducted collateral bonds
with a face value of $6,509,500 issued against provincial and municipal
bonds $1,600,146 in cash and $12,787,236 in investments and securities
accummulated in the various sinking funds, the resulting net balance
of insular bonded indebtedness as of December 31, 1932, will be
$52,69(5fll8.
In appendix D of this report, the statement of the bonded indebted-
ness is carried forward to June 30, 1933. The amount of the out-
standing indebtedness is well within the limits provided by law, and
the prescribed sinking funds are fully maintained for all outstanding
bonds.


9 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Deposits of Philippine public funds in the United States.—During
the entire period of the banking crisis that culminated in the temporary
general closing of banks throughout the United States early in March
1933, there were maintained in banking institutions of the Federal
Reserve System large deposits of Philippine public funds. These
deposits, consisting, in the main, of reserve funds of the Philippine
monetary system (gold standard fund and treasury certificate fund),
included also other public funds incidental to the effecting of purchases
-of supplies and the transaction of Philippine governmental business
in the continental United States. The total of the deposits in recent
years has never fallen much below $60,000,000 and has frequently
been much above that figure. During the last 6 months of the cal-
endar year 1932, the total averaged about $60,000,000 and, during the
first half of 1933, above $62,000,000. During the same period the
total number of depositories distributed throughout the United
States averaged over 50. Under the laws of the Philippine Govern-
ment, the placing and supervision of these deposits in the United
States is entrusted to the Secretary of War, under whose control and
direction the detailed transactions are handled through this Bureau.
The general system has been in effect for many years, during which no
loss has ever been charged off, while the interest received from the
deposits has constituted an important source of income for the
Government of the Philippine Islands.
As of February 28, 1933, the total of these deposits was $61,739,971.
With the exceptions stated below, all of the depositories here, sub-
sequent to the so-called "bank holiday" of early March 1933, either
repaid their respective deposits in full (including interest thereon)
or have been reopened on an unrestricted operating basis with the
approval of the Secretary of the Treasury.
As of September 30, 1933, the total of unsatisfied outstanding claims
on account of the deposits was $68,977, representing two claims of
$2,551.67 and $66,425.56, respectively. Funds have already been
made available to satisfy the smaller claim, but have not yet actually
been received and credited. The larger claim pertains to a national
bank, the affairs of which have been in course of liquidation by a
receiver appointed prior to 1933. The claim represents about 13 per-
cent of the original deposit and, as no dividends have yet been dis-
bursed by the receiver, the ultimate complete liquidation of this ac-
count is expected. The original deposit was supported by collateral
consisting of bonds of the Government of the Philippine Islands of the
same par value as the deposit but, at the time the bank was taken
over by the receiver, the market value of the bonds was somewhat
under par. Bonds of the Philippine Government are received at par
value by the United States Treasury as collateral to secure deposits
of United States funds.
One other depository having a deposit of $1,000,000 did not reopen
subsequent to the bank holiday ; but the deposit (supported by bonds
of the United States and Philippine Governments, of combined par
value equal to the total deposit) was taken over by a national bank
operating with the approval of the Secretary of the Treasury, on an
unrestricted basis.
During the year July 1, 1932, to June 30,1933, there was credited to
the government of the Philippine Islands, as interest on Philippine
governmental deposits in the United States, handled through the


10 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
War Department, a total of $1,407,046.44, an amount well below the
annual average received in recent years. It will be noted,, therefore,
that the present total of unsatisfied outstanding claims ($68,977), all
of which is expected to be paid, represents less than 5 percent of the
interest received by the Philippine government on deposits handled,
through the War Department, in the United States, during the year
mentioned above.
Government-owned companies.—The net income of the Philippine
National Bank amounted to $906,335 as compared with $327,509 in
1931. The sugar centrals controlled by the Philippine National
Bank reduced their indebtedness to the bank by $1,513,391, leaving a
balance of $8,496,053 due at the end of the year.
The Manila Railroad Co., which had been suffering before the
depression from the competition of motor transportation, closed the
year showing a loss of $48,688.
The Cebu Cement Co. is reported to have ended the year in sound
financial condition.
Provincial and municipal governments.—It became evident early in
the year that, with the declining prices for Philippine produce, land-
owners were going to have difficulty in paying their taxes. The Gov-
ernor General twice extended the period within which the taxes might
be paid without penalty. An active campaign to induce taxpayers to
pay their taxes was initiated. Nevertheless the total of the taxes
accruing to the provincial treasuries, amounting to $20,707,827, was
$583,894 less than for the preceding year. A new assessment law was
enacted during the regular session of the legislature (Act No. 3995,
approved Dec. 5, 1932) and incorporated a number of features de-
signed to facilitate the payment of the land taxes.
The revaluation of properties which has been in progress for several
years continued. At the end of the year the total value of taxable
property in the 40 organized provinces amounted to $768,451,393
($1,744,578 more than for the preceding year) and in the 9 specially
organized provinces to $53,719,525 ($565,226 more than for the pre-
ceding year), making a total of $822,170,918 for the provinces.
Both the charter cities of Manila and Baguio enjoyed healthy
financial conditions during the year under review. The city of Manila
found itself with an unencumbered surplus at the end of the year,
made possible by the stringent policy of economy followed in the
administration of the government of the city.
EXTERNAL TRADE
The total external trade of the Philippine Islands with the United
States and foreign countries declined to $174,733,166, a decrease of
$28,417,627, or 13.9 percent, from 1931. This brings the total decline
in Philippine external trade since 1929 to 44 percent. Exports
amounted to $95,338,081, a decrease of 8.3 percent; imports amounted
to $79,395,085, a decrease of 19.9 percent. The balance of trade in
favor of the islands increased from $4,793,355 for 1931 to $15,942,996
for 1932. As usual this favorable balance of trade was due to the
very large favorable balance with the United States, which in 1932
amounted to $31,350,117.
The trade of the islands with the United States amounted to $133,-
945,617 (a decrease of 8 percent), representing 77 percent of the total


11 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
external trade as compared with. 72 percent in 1931. Imports from the
United States amounted to $51,297,760 (a decrease of 17 percent
from the preceding year) and represented 65 percent of the total as
compared with 63 percent in 1931. Exports to the United States
amounted to $82,647,867 (a decrease of 1 percent), constituting 87
percent of the total exports. The corresponding proportion in 1931
was 80 percent.
The United States was the main source of all of the principal
Philippine imports. Cotton goods, representing 21 percent in value
of the total Philippine imports, continued to be the largest single
import item and was the only one to register an increase over 1931.
The proportion of cotton goods coming from the United States rose
from one half to three fifths. The share of the United States in
furnishing the other main imports ranged from almost three fifths of
the meat and dairy products to practically all of the automobiles and
tobacco products. This country supplanted Japan as the chief source
of manufactured silks (natural and artificial), furnishing 38 percent as
compared with 23 percent in 1931.
Sugar constituted 63 percent of the total export trade of the islands,
as compared with 48 percent in 1931. The quantity shipped rose
from 741,036 long tons valued at $49,963,105 to 1,000,506 long tons
valued at $59,801,885, practically all of which came to the United
States. Embroideries, the only other commodity which showed an
increase, found its market almost exclusively in the United States.
The United States took practically all of the coconut oil, all of the
desiccated coconut, one half of the tobacco products, and three fifths
of both the copra and cordage.
Japan was the chief customer for abaca (manila hemp) and lumber;
four fifths of the copra meal, or cake, went to Germany.
Tanjff revision.—The general tariff law in force in the Philippine
Islands is the act of Congress approved August 5, 1909, entitled " An
act to raise revenue for the Philippine Islands and for other pmrposes."
The United States tariff act approved the same date established
practically reciprocal free-trade relations between the United States
and the Philippines, with certain restrictions (not, at the time, prac-
tically operative) on the amounts of sugar, rice, and tobacco which
might be brought into the United States free of duty. These restric-
tions were removed by the United States Tariff Act of 1913. The
rates in the Philippine tariff act were, therefore, in practice, applicable
to Philippine imports from countries other than the United States
and, in general, operated to produce revenue rather than to afford
protection to Philippine products. The Congress has not enacted
any amendment to the rates thus fixed in 1909, but did, in the Organic
Act of 1916, confer upon the Philippine Legislature authority to enact
tariff legislation for the islands, subject to the approval of the Presi-
dent of the United States, reserving to the Cong;ress the right to
regulate trade relations between the Philippines and the United
States. Between, the years 1916 and 1932 the Philippine Legisla-
ture exercised only infrequently the authority thus conferred upon it.
Increases of duty were made during that period on rice, cement, and
cattle; and an amendment approved January 8, 1929, imposed upon
sugars and tobaccos imported into the Philippine Islands the same
rates of duties as might, from time to time, be imposed on similar
importations into the United States. That amendment, however,


12 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
operated primarily to prevent the indirect favored access to United
States markets, through the Philippine Islands, of sugar and tobacco^
produced in foreign countries.
Referring to the resulting situation, Governor General Roosevelt
states, in part, in his annual report:
As one of the aids in remedying the above conditions, we undertook this year1
to reconsider carefully our tariff. The Philippine tariff has remained practically
unaltered since 1909. Meanwhile conditions within the islands had changed
radically and those outside of them to an even greater extent. Within the last 2"
years, for example, the vast majority of the great countries of the world have
gone off the gold standard. Their medium of exchange has been reduced 60 per-
cent and more with reference to the peso. The result has been that foreign com-
petitors of our industries have been able to undersell them and flood our market
with cheap products competing directly with those produced in the islands.-
Under the circumstances everyone has suffered. Many of our young industries
which were just beginning to take hold were faced with bankruptcy.
But while the majority of the members of the legislature recognized the general
situation and were in favor of an upward revision, the fact that they had not
-previously dealt with tariff matters imposed a considerable degree of caution,
especially in the face of heavy protests from foreign elements in the local business-
community. In short, while they appreciated the necessity for a change, it was
difficult to crystallize opinion in favor of specific amendments.
I had outlined this situation in detail in my second message to the legislature^
(see appendix no. 3), and I am gratified to say that the very close cooperation:
between the Governor General's office, the special committee, and the legislature
brought results far beyond expectation. * * *
The outcome was the enactment of the amendments to the tariff-
act listed on page 6 of this report. Speaking of Act No. 4053, the
general tariff revision act, which provided for increased rates in 70'
out of the 300 paragraphs of the tariff act, the Governor General,
states that: "Practically all of the amendments contained therein
arose from demands for protection of local production."
Carrying trade.—American vessels continued to lead in the volume
of cargo carried in the Philippine trade, but the decline in the pro-
portion of the total carried, which began last year with the increase
in the British and Japanese participation, continued in 1932. The
American percentage during the past 3 years has been: 1930, 44 per-
cent; 1931, 39 percent; 1932, 34 percent. The corresponding propor-
tions for the same period have been for British ships, 24, 26, and 28
percent; and for Japanese ships, 12, 15, and 17 percent.
EDUCATION
In view of the handicap of reduced appropriations, the year was>
one of very satisfactory accomplishment in educational matters.
The secretary of public instruction reports that—
The public schools continued operating in 1932 along practically the same
lines as in the past, with added emphasis on such of its usual major concern (sic)
as the extension of educational opportunities in the elementary grades, the pro-
motion of vocational education as well as health and physical education, and the
improvement of instruction. Like the practice in previous years,, these activities,,
undertaken with a view to a satisfactory realization of the practical ends of public-
education in the Philippines, went hand in hand with such allied efforts as experi-
mentation and research, teacher training and supervision, employment of better
qualified teachers, and the construction of more school buildings.
Definite emphasis was placed upon the policy that the first duty of
the State, in educational matters, relates to primary education for
the entire population of suitable ages. In order to accommodate-


13 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 

large numbers of children who would otherwise have been without
schooling during the year, primary teachers were required to conduct
two sessions daily for different groups of children.
The total enrollment for the school year 1931-32 was 1,213,419
(final report) as compared with 1,224,548 for the school year 1930-31.
Of this number, 1,135,221 were enrolled in the elementary and 78,198
in the secondary grades. Of the latter, 16,839 were in vocational
schools, practically the same as for the preceding year. The increase
in the attendance at agricultural and trade high schools was offset by
a decrease in home-economics course enrollments.
Community assemblies.—A matter to which Governor General
Roosevelt devoted particular attention during his year in the islands
was the fostering of a systematic plan for adult education through
the medium of a form of rural conference to which the name com-
munity assemblies has been applied. In the localities where they
were first conducted, the assemblies were greeted with an interest
and enthusiasm which indicated the fulfillment of a need in the life
of the communities, and the legislature provided for their continuance
under the supervision of the director of education in an act (No.
4046) which states their objectives to be as follows:
1. To develop a more intelligent and enlightened public opinion, especially
among adults.
2. To inform the public regarding subjects of wide interest.
3. To inform the public regarding citizenship activities, duties, health problems,
proper diet, etc.
4. To guide the public in improved methods of industry, agriculture, and
economy.
HEALTH
Incomplete returns indicate a slight increase in the general death
rate over that for the preceding year, which was 21.39 per 1,000
(revised figures). In the city of Manila, however, the rate fell from
25.61 to 24.24; and the infant mortality rate from 151.58 to 139.82.
There were no epidemics of consequence. Cholera, which in 1931
caused 784 deaths, was practically confined to two provinces—Samar
and Leyte—where 338 cases and 251 deaths were reported. No cases
of smallpox were reported. Decreases in cases reported of beriberi,
malaria, diphtheria, influenza, and measles, indicate the success of
the campaigns conducted against those diseases. From the incom-
plete reports available, a decrease is indicated in the number of
deaths from tuberculosis, although this disease remains one of the
most serious problems of the health administration. During 1932,
2,596 positive lepers were detected and isolated; 206 negatives were
released.
The Governor General states in his annual report:
Heretofore child health, maternal hygiene, and the control of tuberculosis
have been separated from the Philippine Health Service and administered b^y
other entities of the insular government. Under the reorganization act these
agencies, together with all other health matters, are placed in a single bureau of
health.
The principal health problems of the Philippine Islands are those concerned
with environmental sanitation, namely, child health, nutrition, and the control
of tuberculosis and leprosy. The work in these fields is going forward steadily
and will be facilitated by the reorganization mentioned in the previous paragraph.
An increased effort was made to disseminate information in health
and sanitation through the press and publications of the Philippine
Health Service, the community assemblies, and the public schools.


14 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
The United States Army Medical Department Research Board
continued to occupy quarters in the bureau of science and to cooper-
ate with that bureau in health matters. The International Health
Board of the Rockefeller Foundation continued its cooperation with
the bureau of science in Manila in malaria investigations.
AGRICULTURE AND INDUSTRY
The area planted in 1932 differed only slightly from the preceding
year. With the exception of sugar, however, there was a decline in
production, clue to adverse weather conditions and plant pests. The
increase of 26 percent in centrifugal sugar production was due chiefly
to improved methods of cultivation and manufacture, as the increase
in area planted was only about 1 percent.
Most gratifying is the progress noted in the campaign against
rinderpest, the deaths reported during 1932 numbering 139, the
lowest since the appearance of the scourge in the late eighties. Dur-
ing the last quarter of the year, no cases were reported. With
sustained vigilance, it is hoped that practically the complete extir-
pation of this disease, which has been such an obstacle to the develop-
ment of the livestock industry in the islands, may be effected in the
proximate future.
Improvement in the condition of the small farmer continued to be
a main subject of executive and legislative consideration. Special
emphasis was laid on the encouragement of diversification of agricul-
tural products and the production in the islands of foods which are
now being imported in large quantities, such as eggs and fish. To
these ends, extension work by the department of agriculture and com-
merce was expanded by means of lectures delivered at community
assemblies and printed in dialects; participation in fairs and exhibi-
tions, ranging from garden day celebrations in the schools to the firgt
national horticultural exhibition held in connection with the annual
Manila carnival; and demonstration trucks traveling through remote
regions. By the end of the year, 5 of the 10 rural credit organizations
authorized by Act 3895, approved November 16, 1931, had been
organized under the supervision of the Philippine National Bank,
and 5 more were in various stages of organization. Means for
expediting the occupation and utilization of the agricultural lands
of the public domain continued to be sought.
Gold bullion was shipped out of the islands to the value of approxi-
mately 5 million dollars as compared with 3 }< million during 1931.
Although the waters surrounding the Philippine Archipelago abound
in many varieties of edible fish, it has been a matter of concern for
some years that the annual importations of canned and preserved fish
have grown to considerable proportions. Experimental work has
been in progress to determine the best methods for the local preser-
vation of fish, and surveys have been made of the fishery resources.
Act 4003, approved December 5, 1932, was enacted for the purpose of
protecting the fishery resources and encouraging the fishing industry
with a view to increasing the Philippine-produced food supplies.
The drastic decline in the market for Philippine abaca (manila
hemp), due to competition both with other materials and with hemp
grown elsewhere, has moved the government to undertake to seek out
new uses for this fiber. Studies were initiated as to the possibilities


15 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
of its use for sacks, both for export and to take the place of those now
being imported.
Impetus was given to the movement to promote new industries and
to broaden the market in the islands for Philippine-made goods by
means of various types of exhibits. The interest evinced by the
public in an industrial exposition in Manila resulted in the exposition
being made permanent. A floating exposition, consisting of a ship
carrying Philippine-made articles cruised in remote sections of the
archipelago and aroused interest in the various localities visited.
PUBLIC WORKS AND COMMUNICATIONS
During 1932 there was an increase of 466.2 kilometers (289 miles) of
first-class roads and 262.5 kilometers (163 miles) of second-class roads
and a decrease of 387 kilometers (240 miles) of third-class roads,
making a total of 14,664 kilometers (9,106 miles) of all classes of
roads in existence. The new construction included 27 reinforced-
concrete bridges.
Motor vehicles registered during 1932 numbered 41,585, as com-
pared with 37,889 in 1931.
Rules and regulations for the navigation of civil aircraft were pro-
mulgated and airways were charted. During a part of the year, a
scheduled air service was operated between Manila and Baguio by a
commercial company.
A notable advance in communication between the islands and the
rest of the world was the extension of the radio telephone service.
The service between Manila and Washington was inaugurated on
March 30, 1933, with a conversation between the Secretary of War
and Acting Governor General Holliday. A new radio broadcasting
law was enacted.
FILIPINO EMIGRATION TO THE UNITED STATES AND HAWAII
In 1932, for the first time under American sovereignty, departures of
Filipinos from the United States were in excess of arrivals. According
to the reports of the insular collector of customs, 3,088 Filipinos left
the Philippine Islands for the United States and insular possessions, of
which number 618 went to Hawaii. On the other hand, 12,451 Fili-
pinos arrived in the Philippine Islands from the United States and
insular possessions, 7,005 coming from Hawaii.
CHANGES IN OFFICIAL PERSONNEL
The following changes have occurred among officials of the govern-
ment of the Philippine Islands appointed by the President:
Gov. Gen. Theodore Roosevelt resigned, his resignation taking
effect March 24, 1933. To succeed him, the President appointed
Hon. Frank Murphy, of Detroit, Mich. Governor General Murphy
arrived in Manila on June 15, 1933, and assumed the duties of his
office the same day.
Hon. John H. Holliday, who had been serving as Vice Governor
and secretary of public instruction since August 20, 1932, under an
ad interim appointment, was reappointed March 7, 1933, taking the
oath of office March 8, 1933. On March 16, Governor Holliday's
16380—33-3


16 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
appointment was confirmed by the Senate. Vice Governor Holliday
was Acting Governor General from March 16, the date Governor
General Roosevelt sailed from Manila, until Governor General
Murphy's assumption of his office on June 15, 1933.
Gen. Creed C. Hammond resigned as insular auditor to take effect
June 30, 1933.
Two vacancies were created on the supreme court by the death, on
May 23 of this year, of Associate Justice Ignacio Villamor, and the
resignation, effective June 30, 1933, of Associate Justice James A.
Ostrand.
PUERTO RICO
CHANGES IN OFFICIAL PERSONNEL
The resignation of Hon. James R. Beverley as Governor of Puerto
Rico became effective on June 30, 1933. His successor, Hon. Robert
H. Gore, appointed April 28, 1933, assumed the duties of office the
following day, July 1, 1933. Hon. Leslie A. MacLeod qualified under
his reappointment as auditor on September 19, 1933.
CONGRESSIONAL CONSIDERATION OF PUERTO RICAN AFFAIRS
In appendix A of this report is listed certain legislation of special
interest to Puerto Rico enacted by the Congress during the period to
which this report pertains. Of special importance are the laws en-
acted by the Seventy-third Congress, during its first session, for eco-
nomic rehabilitation of the United States. That legislation, con-
sidered as a whole, reflects and emphasizes a tendency, increasingly
apparent in recent years, to modify materially the basic fiscal rela-
tions which the Organic Act of 1917 and related acts of Congress
apparently intended should exist between Puerto Rico and the
Federal Government.
Under the provisions of these earlier laws, the people of Puerto
Rico were practically relieved from all contributions (such as income
taxes, internal-revenue taxes, and other Federal taxes) levied to
meet the expenses of the Federal Government. They thus received,
without expense to themselves, benefits incidental to their inclusion,
as citizens, under the international protection of the United States
Government and the general operation of certain Federal services
such as those of the State, War, Navy, Treasury, and other executive
departments. In addition, there were made available for the expenses
of the local government, and subject to appropriation by the Puerto
Rican Legislature, all net proceeds of United States customs duties
collected upon imports entering the island and such United States
internal-revenue taxes as were paid upon insular products entering
the continental United States; and Puerto Rican products had duty-
free access to the markets of the United States—a feature of supreme
importance in the case of sugar, the principal item in the island's
On the other hand, Puerto Rico was not ordinarily included in Fed-
eral appropriations applicable to the several States and organized
Territories contributing, through Federal taxes, to the support of the
central Government; it was subject to Federal tariff laws enacted
primarily with a view to conditions applicable in the continental
United States; its foreign trade was thus affected by tariff laws that


17 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
tended to bring about the importation of products of American, as
compared with foreign, industries; and its entire exterior trade (in-
cluding that with the United States) was subject to certain disadvan-
tages as regards shipping rates and facilities—the result of the
inclusion of the island in the operation of the United States coastwise
shipping laws.
Subject to the relations outlined above, the government oi Puerto
Rico had, for many years prior to 1928, constituted (with certain
relatively unimportant exceptions) practically a separate fiscal
entity, the income of which (other than the proceeds of the United
States customs duties and internal-revenue taxes heretofore men-
tioned) was derived from local taxation and disbursed under appro-
priations made by the legislative branch of the insular government.
However, following the disastrous hurricane of September 1928 the
Congress authorized special appropriations for hurricane relief in the
form of both direct monetary aid to the insular government and
loans to agriculturists. During the next few years, other appropria-
tions for the extension to Puerto Rico of various Federal services
(such as agricultural extension work, vocational education, etc.)
were authorized. In 1932 a large part of the island was visited by a
second destructive hurricane. Subsequently there have been made
applicable to Puerto Rico various laws of Congress authorizing, or
apparently contemplating, on the one hand, increased Federal appro-
priations for varied purposes in Puerto Rico and, on the other hand,
imposing certain Federal taxation collectible in the island—for
example, the processing tax prescribed in the Agricultural Adjust-
ment Act of May 12, 1933.
In appendix B are listed certain measures of special interest to
Puerto Rico which were considered during the second session of the
Seventy-second Congress and the first session of the Seventy-third
Congress, but which were not enacted.
THE PUERTO RICAN LEGISLATURE
Three sessions of the Puerto Rican Legislature were held during
the year under review in addition to the third session of the Twelfth
Legislature (from June 21 to July 4, 1932) mentioned in the Bureau's
report of last year. The governor called the fourth and fifth special
sessions of the Twelfth Legislature for the periods October 18-21
and November 11-16, respectively, to consider means for relief and
rehabilitation necessitated by the hurricane of September 26-27.
The first regular session of the Thirteenth Legislature convened on
February 13, 1933, and adjourned on April 15, 1933.
Among the more important measures enacted during these three
sessions were acts: Authorizing the contracting of loans from the
Reconstruction Finance Corporation for relief and rehabilitation;
regulating banks and banking in Puerto Rico; creating a committee
to act in cases of emergencies in the banking situation; providing a
plan for the reorganization and reopening of closed banks; authoriz-
ing the treasurer to borrow money temporarily as an advance of
taxes; to promote the tobacco stripping industry; to provide revenue
through the levying of internal revenue taxes on beer, wine, and
similar liquors; so amending the act authorizing municipalities of the


18 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
island to issue credit certificates as to permit the issuance of such
certificates to any creditors of the municipalities; amplifying the
insurance law so as to facilitate hurricane insurance on crops and
plantations by permitting the rendering of this service by individual
insurers under the Lloyds plan; requiring all authorizations for ex-
penditures of the insular government, not included in the regular
budget act, to be grouped in one appropriation act; and to authorize
the commissioner of the interior to construct free airports.
In reviewing certain measures vetoed by him, the Governor makes,
the following observation:
It is perhaps deserving of mention that two measures were vetoed because of
the fact that they attempted to place executive power in the hands of the
"economy commission", a legislative committee set up each year in the budget
act, or in the hands of legislators. There has been a growing tendency to attempt
to take away executive powers either by placing them with a legislative commis-
sioner or by creating a committee for the execution of a law, the committee to
contain members of the house and senate as well as executive officers. While:
this is perhaps a natural tendency, it is contrary to our system of government
and must be discouraged. The economy commission mentioned above already
has the power to intervene in some executive functions under previous laws, and
although such delegation of power is probably void from a legal standpoint, there-
has never been an issue made of the matter and in the relations between the com-
mission and the various executive officers, there has seldom been any friction.
GENERAL CONDITIONS
The year under review was one of more than usual adversity for
Puerto Rico. Recovery from the destruction wrought by the disas-
trous hurricane of September 13, 1928, had already been retarded by
the effects of the general world depression. The resulting situation
was rendered acute by the hurricane of September 26-27, 1932,.
which, laying waste approximately one half of the island, had far-
reaching effects upon agriculture, banking, and government finance,,
and especially upon the condition of the laboring classes. Forty-
nine of the seventy-seven municipalities were affected in a more or
less serious way, and according to the reports of the Red Cross,.
76,925 families were in actual distress for a greater or less period as a
result. The total estimated damage to the island reached $35,568,345.
Deaths caused directly by the storm numbered 257, and more than
4,280 persons were injured.
The consequences of the storm would doubtless have been even
more serious but for certain precautionary measures taken by Gov-
ernor Beverley. At the beginning of the hurricane season, he had
caused the municipalities to organize emergency committees and to
give wide publicity to a plan whereby hurricane warnings received
by the governor's office would be communicated to the people by
signal flags to be flown from the designated buildings in each town.
The Governor expresses the belief that the entire population of the
island was advised of the imminence of the hurricane's approach
before noon of September 26. Before the storm struck meetings
attended by the adjutant general of the National Guard, other
governmental. personnel, and officials of the Red Cross had been
called, and plans had been formulated and instructions issued, for
relief work, reestablishment of communications, etc.
Whereas in the case of the hurricane of 1928, the Congress of the
United States, the Red Cross, and other official and unofficial agencies


19 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
of the continental United States extended prompt and generous
assistance to promote the task of rehabilitation, the wide-spread
difficult economic conditions prevailing in 1932 tended to limit the
immediate aid then proffered. The commanding officer of the United
States troops in Puerto Rico was especially active in relief work and
placed all of the Army supplies in the island at the disposal of the
relief committee.
In regard to the general situation, the Governor observes that:
The island had closed the previous year in a fairly good economic condition in
spite of the severe depression, but during the year under consideration conditions
were becoming gradually worse and the amount of unemployment was increasing
slightly. Partly as a result of the storm and partly from other conditions, the
situation in the island became progressively worse from September 27 on. * * *
After the hurricane, there was a spurt of employment, but this soon receded
and at the close of the fiscal year under consideration, the number of unemployed
was probably higher for that time of year than ever before in the history of the
island. On June 30, the sugar harvest is not yet over, so that June 30 does not
fall within the period of the highest unemployment. A great deal of employment
in Puerto Rico is seasonal and for many years there has been an abnormally high
percentage of unemployment in whole or in part.
The Governor refers, in this connection, to the economic significance
of the population problem, giving the estimated population as of
July 1, 1933, as 1,623,814, representing an average density of 472.7
per square mile. During 1932 births exceeded deaths by 30,823.
ELECTIONS
The regular quadrennial general elections for the island were held
on November 8, 1932. This was the first election in which women
participated, and for this as well as for other reasons unusual interest
was manifested. Due to splits and combinations among the three
major parties, partisan feeling was bitter and there was apprehension
lest the day of the election should be marked by wide-spread disorder.
The Governor, however, reports that there was less disorder than in
any previous election held in Puerto Rico and expresses the view
that, in spite of charges and countercharges by the several parties
and candidates, the elections of 1932 were the fairest and most
orderly in the history of the island.
The three major parties in this election were the Liberal (composed
largely of elements of the former Union de Puerto Rico), the Union
Republicana, and the Socialist parties. The two last-named parties
formed a combination known popularly (though not officially) as the
" Coalicion " and were generally successful, electing their candidate for
Resident Commissioner to the United States, gaining control of both
houses of the legislature, and gaining control of all but 26 of the 77
municipalities.
GENERAL FINANCIAL CONDITIONS
The fiscal year 1932-33 closed with a deficit of $1,083,263.28. The
revenue receipts for the year show a decrease in collections of
$1,075,641.78 as compared with the original estimate of the treasurer
on which the financial program for the year was based, and a decrease
of $3,288,001.54 as compared with the actual collections for the fiscal
year 1931-32. The accentuation of general economic depression and
the results of the hurricanes of September 13, 1928, and September 27,
1932, contributed in marked degree toward bringing about the
decrease in tax collections. The original estimate of revenue made


20 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
by the treasurer was $10,450,000, which was revised downward after
the hurricane of September 27 to $9,288,569.66. Actual collections
amounted to $9,374,358.22. The most serious drop in revenues during
the year occurred in the excise taxes. The total collection of excise
taxes during the year amounted to $6,299,809.08 as compared with
collections of $8,047,372.96 for the fiscal year 1931-32, a decrease of
21.7 percent. There was an increase of $72,663.96 in the income-tax
collections for the year as compared with the amount collected in the
fiscal year 1931-32. This increase was due largely to the collection
of back taxes. The property taxes collected in the fiscal year
amounted to $5,682,355.45, a decrease of $678,311.58 as compared
with the collections of the fiscal year 1931-32.
Governor Beverley expresses the opinion that the budget for the
fiscal year 1933-34 will be balanced and that sufficient allowances
have been made to absorb the deficit of the fiscal year 1932-33 without
the necessity for an increase in the bonded indebtedness. The
Governor, in summing up the situation in his report, further states, in
effect, that, while the financial results of the year were disappointing,
more favorable conditions may reasonably be anticipated in the
relatively proximate future.
GENERAL FUND OF THE INSULAR TREASURY
Cash receipts and disbursements, under the general fund, for the
fiscal year 1932-33 are summarized as follows in the annual report of
the auditor of Puerto Rico:
Balance on hand July 1, 1932_______________________________ $874, 422. 06
Receipts:
Insular revenue receipts__________________$9, 374, 358. 22
Temporary loan, advance of taxes_________ 1, 250, 000. 00
Surplus, insurance fund__________________ 25, 280. 00
Total receipts into general fund_______________________ 10, 649, 588. 22
Total general fund resources for the year_______________ 11, 524, 010. 28
Total cash disbursements____________________ 10, 031, 120. 86
Transfers to various trust funds_______________ 891, 383. 28
Total disbursements and transfers_____________________ 10, 922, 504. 14
Balance on hand June 30, 1933_______________________ 601, 506. 14
Current assets payable to general fund:
Advance to Isabela irrigation service______ 166, 437. 50
Advance to Santa Isabel fund________________________7, 000. 00
Total______________________________________________ 173, 437. 50
Total current assets_________________________________ 774, 943. 64
Total of carry-over appropriation liabilities to fiscal year 1933-34. 1, 858, 206. 92
Total deficit (excess of appropriation liabilities over
resources) fiscal year 1932-33_______________________ 1, 083, 263. 28
At the end of the previous fiscal year a surplus of $638,238.57 in
the general fund was shown over appropriation liabilities. The
retrogression in the general fund for the fiscal year 1932-33 is there-
fore:
Surplus from previous year__________________________________ $638, 238. 57
Deficit for the fiscal year ending June 30J 1933_________________ 1, 083, 263. 28
Total_______________________________________________ 1, 721, 501. 85


21 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
It should be noted that during the fiscal year 1932-33 the insular
treasury was deprived of the proceeds of the gasoline tax which, by
Act No. 40 of April 24, 1931, were diverted, beginning July 1, 1932,
to the construction of municipal roads. The net gasoline-tax collec-
tions during the fiscal year 1932-33 reached $1,006,713.08.
Notes payable.—The balance of notes payable as of June 30, 1933,
amounts to $1,173,494.54. The balance as of June 30, 1932, was
$379,494.54. The net change represents an increase in outstanding
indebtedness under "Notes payable" in the amount of $794,000. The
important items accounting for this increase are the Reconstruction
Finance Corporation relief loan of $360,000, and a temporary loan of
$1,250,000 contracted as an advance of taxes to meet government
obligations. At the close of business June 30, 1933, $900,000 of the
$1,250,000 loan had been repaid and the remainder was repaid
shortly after the beginning of the new fiscal year.
Bonded indebtedness.—The bonded indebtedness of the government
of Puerto Rico amounted to $28,542,000 on June 30, 1933, compared
with $28,761,000 on June 30, 1932. Bonds in the total amount of
$846,000 were issued during the year; bonds in the total amount of
$1,065,000 were redeemed during the year. The net decrease in the
bonded indebtedness for the year was $219,000. The balance of the
redemption fund as of June 30, 1933, was $1,286,793.75, while on June
30, 1932 these funds amounted to $1,370,527.80, or a decrease for the
year of $83,734.05. Taking into consideration both bonds out-
standing and sinking funds, there is indicated a net decrease of $135,-
265.95 in the funds required to satisfy the principal of the bonded
indebtedness.
The net bond interest charges during the year were $1,320,629.54
which, together with the amount of $51,869.65 paid as interest on
bank loans resulted in a total interest cost during the fiscal year of
$1,372,499.19. This was an increase of $2,275.07 in the interest costs
for the fiscal year 1932-33 as compared with the fiscal year 1931-32.
Insular emergency fund.—The status of the insular emergency fund
of June 3.0, 1933, was as follows:
Cash balance June 30, 1933__________________________________$123, 668. 35
Accrued resources (emergency fund loans)_______________________ 504, 258. 51
General fund loans__________________________________________ 308, 420. 95
Total________________________________________________ 936, 347. 81
The insular emergency fund as of June 30, 1932, amounted to
$1,126,336.63, showing a decrease of $189,988.82 for the fiscal year
1932-33.
Financial progress.—Considering the general fund, notes payable,
the bonded indebtedness, and the insular emergency fund, the gov-
ernment of Puerto Rico shows financial retrogression for the fiscal
year ending June 30, 1933, of $2,570,224.72 arrived at as follows:
Retrogression:
General fund__________________________________________________________________________________$1, 721, 501. 85
Notes payable________________________________________________________________________________794, 000. 00
Decrease in sinking funds____________________________________________________________83, 734. 05
Decrease in insular emergency fund__________________________________________189, 988. 82
Total retrogression__________________________________ 2, 789, 224. 72
Progress:
Bonded indebtedness__________________________________ 219, 000. 00
Net retrogression____________________________________ 2, 570, 224. 72


22 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Further data regarding the revenues and financial condition of the
insular government appear in appendix F.
Municipalities.—During the fiscal year the executive council
approved municipal loans to the extent of $1,571,119.37. The total
indebtedness of the municipalities as of June 30, 1933, was $17,861,-
043.07 plus interest accrued and payable amounting to $38,192.52, a
total of $17,899,235.59. This shows an improvement, when compared
with the total indebtedness of $18,922,548.91, reported on June 30,
1932, of $1,023,313.32.
During the year the insular treasury was forced to advance the
municipalities the sum of $57,910.34 for the payment of principal and
interest on municipal bonds to prevent defaults; reimbursements by
the municipalities up to June 30, 1933, amounted to $48,404.32.
This leaves the net outstanding total of such advances at $100,762.
Other advances, including those made on collateral securing munic-
ipal deposits, aggregated $72,117.82. The total amount due the
insular government from the municipalities, as of June 30, 1933, was,
therefore, $172,879.82.
The total receipts of the municipalities for the fiscal year 1932-33
as reported by the auditor amounted to $5,573,287.87 while the dis-
bursements totaled $5,931,338.10. The total cash balances as of
June 30, 1933, amounted to $3,463,483.43, as compared with $3,819,-
732.65 on June 30, 1932. Of the total cash balance as of June 30,
1933, $89,114.33 pertain to the general funds of the several munici-
palities and $42,071.43 to their school funds. These items, aggre-
gating $131,185.76, represent the only cash available to meet municipal
budgetary liabilities, the remaining balances consisting of items not
available for that purpose.
The net debt-incurring margin of the municipalities as of June 30,
1933, amounted to $2,913,704.07, as compared with $4,411,438.60 at
the close of the previous year. In this connection it should be noted
that the debts of 36 municipalities are in excess of the respective
authorized limits, the total excess being $1,255,547.66, while each of
40 municipalities still has a remaining margin, the total of such
margins being $4,169,251.73. The general situation reflected in these
figures largely antedated the last fiscal year.
During the year, care was exercised by the executive council, when
considering municipal loan ordinances, to withhold approval of loans
to meet payments for regular services properly payable from current
receipts, except in cases of real emergency. This precaution pre-
vented the majority of municipalities from incurring debts in excess
of their budgetary appropriations and, together with action taken by
the auditor of Puerto Rico to prevent inflation of income in municipal
budgets, operated as desirable measures of supervision over municipal
finances.
Banking.—During the year under review a number of important
events occurred with regard to the banking situation in the island, the
chief of which were the closing of the Banco Territorial y Agricola on
September 28, 1932, the restricted operations of banks during March
and A^ril under Federal and insular direction, and the opening of
the Banco de Puerto Rico on May 15, 1933.
The national banking holiday proclaimed by the President of the
United States on March 6, 1933, was extended to Puerto Rico. The
governor had previously, on March 4, declared a banking holiday of


23 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
3 days, but upon receipt of notice regarding the national holiday, the
local proclamation was annulled. On March 9 the governor ordered
an extension of the holiday and on the same day made provision for
limited operation of banking institutions.
At the close of the fiscal year all but two of the local banks were
operating without restrictions. The government from time to time
has had to extend aid in the form of deposits to local banks, since
there is no connection between local banks and the Federal Reserve
System. The governor indicates that extensions of governmental aid
were very carefully made and is believed to have constituted a stabi-
lizing influence on all local banks. The number of banks doing
business in the island at the end of the fiscal year was 13 with 12
branches. All banks and branches in the island are under the super-
vision of the treasurer of Puerto Rico, with the exception of the Puerto
Rican agencies of the National City Bank of New York. Aggregate
deposits reported by all banks on June 30, 1933, were $26,800,392 as
against $32,275,508 at the corresponding date of the previous year, a
decrease of a little over 16 percent.
Reconstruction Finance Corporation.—The Reconstruction Finance
Corporation extended aid to various banks in the island through the
rediscount of paper. Following the hurricane the corporation, at
the urgent request of this bureau and of the governor, granted an
emergency relief loan of $360,000 to the insular government. Appli-
cations were also made for self-liquidating loans for work on the
Isabela irrigation system and for the extension and completion of the
Toro Negro hydroelectric system. At the close of the fiscal year these
two loans were still under consideration. The corporation also ap-
proved in principle an application from the city of San Juan for the
extension and completion of the city water-supply system in the sum
of $1,350,000. At the close of the year the only remaining steps to
be taken were the preparation of the proper evidences of indebtedness
and of their offer at public sale in accordance with the local law.
Workmen's compensation.—Governor Beverley reports that, in spite
of the efforts during the year to secure action by the local legislature
to remedy the unsatisfactory situation as regards the operation of the
Workmen's Accident and Compensation Act, no remedial legisla-
tion was passed, and the so-called State fund has gone still further in
debt.
EXTERNAL TRADE
The total trade with the United States and foreign countries for the
year ended June 30, 1933, amounted to $130,152,166, as compared
with $147,698,039 for the preceding year—a decrease of $17,545,873,
or about 12 percent. The rate of decline for the preceding year was
16 percent. Imports declined by $6,535,391; exports by $11,010,483.
The usual favorable balance of trade was maintained, although show-
ing a decline from $25,135,837 for 1932 to $20,660,744 for 1933
(years ending June 30). With respect to this favorable balance, the
governor observes in his annual report:
There exist no accurate data on invisible items of trade such as payment of
dividends to persons living outside this island, income from tourists in the island,
etc. This information would be very valuable in order to show the net resulting
situation of the island for each year, and during the fiscal year under consideration
the governor requested the College of Business Administration of the University
of Puerto Rico to undertake to secure acceptable data along these lines. It is
16380—33-4


24 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
hoped that in the future such information will be available. It is believed that in
spite of the fact that Puerto Rico has always had a favorable visible balance of
trade since 1900, except in four instances, nevertheless the total balance of trade
has usually been about even, but such statement cannot be regarded as based on
anything more than an intelligent guess.
The trade with the Continental United States represented about 94
percent of the total external trade. Shipments to the United States
comprised 97 percent of the total exports, and shipments from the
United States composed 89 percent of the total imports (appendix E.)
As a buyer of goods from the United States, Puerto Rico ranks first
with respect to South and Central American countries, including Cuba,
and eighth with respect to the world at large. The per capita
purchases of Puerto Rico from the United States during the calendar
year 1932 were higher than the combined per capita purchases of all
Central and South American countries.
AGRICULTURE
Great damage to crops was sustained in the hurricane area on the
northern and eastern sections of the island, resulting in reduced pro-
duction for most crops. This was especially true of citrus fruits and
pineapples, most of the cultivation of which is done in the area visited
by the storm, where there was an almost complete loss of crops and
buildings. Sugar production in the hurricane zone is estimated to
have declined from 15 to 20 percent. There was tremendous loss in
the coconut plantations in the storm area.
The agricultural extension program to which the Puerto Rican
Government has been devoting special attention was greatly retarded
by the hurricane, both as the result of the destruction wrought and
because funds and personnel were diverted from their normal functions
and applied to relief and rehabilitation in the stricken areas.
New farm bureaus were organized, special attention was devoted to
a campaign for domestic gardens, and classes in home canning were
started.
More than 1,000 acres of land were added by purchase to the
Maricao Forest, bringing the total acreage under the jurisdiction of
the insular forest service to 38,000 spread over 25 municipalities.
This is in addition to the 15,000-acre Federal Reservation of Luquillo.
Seedlings issued during the year reached the number of 2,120,459.
The Puerto Rican Hurricane Relief Commission cooperated in
appropriating for coffee shade trees and vegetable seeds.
Since the close of the fiscal year, the insular experiment station has
been transferred to the College of Agriculture and Mechanic Arts of
the University of Puerto Rico, this being one of the conditions prece-
dent to the extension to Puerto Rico of the Federal agricultural aid
legislation as provided in the act of Congress of March 4, 1931.
EDUCATION
Educational work was greatly hampered during the year under
review by the destruction of schools in the hurricane area. A reor-
ganization of the system of secondary education, entailing the
elimination of the continuation schools, was completed. It is
believed that the existing 23 high schools will be sufficient to meet the
present demand for secondary education in the island. The total
public school enrollment for the school year 1932-33 amounted to


25 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
*233,457, of which 109,128 was urban and 124,329 rural. Secondary
school enrollment amounted to 7,295. In the vocational agricultural
classes 4,722 were enrolled. In this work each pupil is expected to
carry on a farm project and keep a record book. In trade and
industrial classes 612 students were enrolled, of whom 502 were in
evening schools. In vocational home economics the total enrollment
was 2,241. Total expenditures for public education amounted to
$5,259,411, of which $4,098,470 came from insular and $1,160,941
from municipal funds. School lunch rooms in operation during the
year numbered 770, of which 131 were urban and 639 rural. The
daily average of children served numbered 29,958; in the urban dis-
tricts 10,067 and in the rural districts 19,891. During the year a
system of emergency service schools was inaugurated. This system
consisted of the organization of additional schools where properly
equipped schoolrooms were available through the acceptance of free
services offered by unemployed teachers. These teachers were visited
and rated by the superintendents and were given an advantage on the
waiting lists of the department of education. Through this organiza-
tion it was possible to offer additional facilities to 402 children who
would otherwise have been unable to be placed in the schools. The
number of such schools functioning during the year was 10.
HEALTH
The general death rate for the calendar year 1932 was 22.3 per 1,000
population as compared with 20.4 for 1931. While typhoid fever,
diphtheria, malaria, and whooping cough showed a decreased death
Tate during the year, as compared with 1931, increases were recorded
in most of the remaining important causes of death, such as tubercu-
losis, diarrhea, enteritis, influenza, and pneumonia. The problem of
tuberculosis is the most serious health problem faced by the people of
Puerto Rico; the proportion of deaths from this disease being 13.4 per
cent of the total. In his annual report the Governor of Puerto Rico
observes in this connection:
Tuberculosis control in Puerto Rico will depend upon economic conditions
rather than upon medical efforts. People on a low standard of living, crowded
into small rooms and lacking physical reserves because of malnutrition, are sure to
become an easy prey to this disease. The ratio of population to area and re-
sources and production plays an important role in this question.
PUBLIC WORKS
Activities in regard to public works were confined mainly to mainte-
nance and repair. The emergency relief loan of $360,000 granted by
the Reconstruction Finance Corporation of which mention has been
made heretofore, was practically all administered by the department of
the interior to effect much needed improvements in public roads and
other works.
Since the close of the fiscal year, allocations have been made of
funds from the Federal Public Works Administration for use in
Puerto Rico.
PUERTO RICAN HURRICANE RELIEF COMMISSION
During the fiscal year 1933 the Puerto Rican Hurricane Relief
Commission continued its rehabilitation program. The road work of


26 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
the commission was completed on September 7, 1932, and the com-
mission is now engaged chiefly in administering loans made to rehabili-
tate farms damaged by the 1928 hurricane.
The total expenditures of the commission up to June 30, 1933,
amount to $10,002,582.20, of which $415,728.27 pertained to the
fiscal year 1932-33.
DOMINICAN CUSTOMS RECEIVERSHIP
The annual inspection of the receivership was made by Lt. Cot.
Walter C. Short, assistant to the chief of bureau, in July 1932. In
spite of the necessity for operating under a greatly reduced allotment,,
the receivership was found to be maintaining a high degree of efficiency
and the accounts were in satisfactory condition.
The state of economic stringency which continued to prevail in the
Dominican Republic as a reflection of world conditions, with the
consequent restriction of buying power and falling off of importations,,
resulted in a decline of customs collections to the lowest amount for
any year since the receivership began to operate under the convention
of 1907. The collections amounted to $2,772,357, a decrease of
$111,119 from 1931. The percentage of decline (3.85) was, however,
less than that shown for the preceding year (19.78).
This decline in customs revenues reduced the amount available for
operation of the receivership. However, by instituting and adhering
to severe economies, the receivership succeeded in keeping the cost of
operation within the limits prescribed by the convention of 1924.
A law. promulgated by the Dominican Government November 23,
1932, removes the collection of pilotage fees from the customs to the
internal-revenue administration. Such receipts are removed from
the operation of the emergency law and are not grouped with general,
customs receipts available either for interest charges or sinking-fund
account, but are covered directly into the Dominican Treasury..
The amount collected by the receivership during the 11 months,
(January-November) period under this heading was $49,297.
The arrangement entered into in September 1930, under which the
receivership has been collecting the internal revenue on goods passing
through the customs houses, continued through 1932. The amount of
such collections for 1932 totaled $1,505,757, compared with $1,652,669
for the preceding year. Of the 4 percent allotted the receivership
for operating expenses, the sum of $12,500 was refunded to the
Dominican Government.
The emergency law, the genesis and objectives of which were
explained in detail in the Bureau's report of last year, was continued
in force throughout 1932. Briefly, under the terms of this law, the
receipts from the three major customs houses—Santo Domingo,.
Macoris, and Puerto Plata—are diverted from the customs adminis-
tration to a special agent of the Dominican Government for the
emergency. After the expenses of the receivership and the interest
on bonds of the Dominican Republic outstanding are paid, a monthly
sum ($125,000) is paid into the Dominican Treasury for operating
expenses of the Dominican Government. One sinking fund payment,
amounting to $50,000, was made in 1932. The last complete sinking-
fund payment which has been made was that for August 1931. The


27 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
period for which the law was enacted to remain in force expires at the
close of the year 1933. In his annual report for the year 1932, the
general receiver of Dominican customs says:
* * * With no change for betterment in fiscal conditions, the necessity
for such legislation has been justified.
The existing situation makes it quite evident that there can be no resumption of
total sinking-fund payments stipulated in the contract loan agreements, in the
absence of what would be a most remarkable recovery in the general economic
conditions for which at the present time there is no outward encourage-
ment. * * *
CHANGES IN PERSONNEL, BUREAU OF INSULAR
AFFAIRS
The detail of the undersigned as Chief of the Bureau of Insular
Affairs expired by operation of law on January 8, 1933. However, by
direction of the Secretary of War, the undersigned continued on duty
with the Bureau as acting chief until relieved by Brig. Gen. Creed F.
Cox on August 22, 1933.
Immediately following the confirmation, in May, of his nomination
to be Chief of the Bureau of Insular Affairs, General Cox, then in
the Territory of Hawaii, visited the Philippine Islands. He arrived
in Washington to assume his duties in the Bureau on August 21.
F. LeJ. Parker,
Brigadier General, United States Army.


Appendix A
LAWS OF SPECIAL INTEREST TO THE PHILIPPINE ISLANDS AND-
PUERTO RICO ENACTED (a) DURING THE SECOND SESSION OF
THE SEVENTY-SECOND CONGRESS
philippine islands and puerto rico
Public No. 428, Seventy-second Congress (H.R. 18520), approved
March 3, 1933: "Making appropriations for the Treasury and Post
Office Departments for the fiscal year ending June 30, 1934, and for
other purposes."
Includes provision limiting (with certain modifications) the pur-
chase or use of manufactured or unmanufactured materials for public
buildings, public works, or other public use in the United States, the
Philippine Islands, and Puerto Rico, to those produced or manufac-
tured in the United States or any place subject to the jurisdiction
thereof.
the philippine islands
Public No. 311, Seventy-second Congress (H.R. 7233), passed over
the President's veto by the House January 13 and by the Senate
January 17, 1933: "To enable the people of the Philippine Islands
to adopt a constitution and form a government for the Philippine
Islands, to provide for the independence of the same, and for other
purposes." Authorizes the formulation by a convention to be
assembled in the Philippine Islands and the submission to the Presi-
dent of the United States, of a constitution for the government of
the commonwealth of the Philippine Islands; provides, under certain
conditions, for the certification of the constitution and its submission
to the people of the Philippine Islands for their ratification or rejec-
tion, a vote favorable to the constitution to be deemed an expression
of the will of the people in the Philippine Islands in favor of inde-
pendence; includes provisions regarding the details of the proposed
constitution, the procedure incident to the establishment and conduct
of the commonwealth government thereunder, trade and other rela-
tions between the Philippine Islands and the United States, immigra-
tion, the contemplated inauguration of an independent government
of the Philippine Islands, and various related matters. The final
section of the act provides that "the foregoing provisions" of the
same "shall not take effect until accepted by concurrent resolution
of the Philippine Legislature or by a convention called for the pur-
pose of passing upon that question as may be provided by the Philip-
pine Legislature."
Consideration of the bill resumed in the Senate December 8, 1932;
in accordance with agreement made on July 1 during the first session
of the Seventy-second Congress. Debated: A number of amend-
28


29 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
ments—some relating to the plebiscite, the immigration of Filipinos
into the United States, neutralization, and the limitation of certain
Philippine products admitted duty free—were submitted and dis-
cussed and several agreed to. Bill passed December 17, conference
report agreed to by Senate December 22; House Conference Report
No. 1811 agreed to by House December 29; enrolled bill signed in
both houses December 30; vetoed by the President January 13, 1933
(H.Doc. 524, 72d Cong., 2d sess.). Passed House over the President's
veto January 13 (vote: Yeas, 274; nays, 94; not voting, 57). Senate
debated the veto message January 13 to 17; passed bill over the
President's veto January 17 (vote: Yeas, 66; nays, 26; not voting, 4).
PUERTO RICO
Public No. 329, Seventy-second Congress (H.R. 13607), approved
February 8, 1933: "To authorize the distribution of Government-
owned cotton to the American National Red Cross and other organi-
zations for relief of distress." Applicable to Puerto Rico.
Public No. 371, Seventy-second Congress (S. 4020), approved Feb-
ruary 24, 1933: "To give the Supreme Court of the United States
authority to prescribe rules of practice and procedure with respect
to proceedings in criminal cases after verdict." Includes the United
States District Court of Puerto Rico in its terms.
Public No. 419, Seventy-second Congress (H.R. 13872), approved
March 3, 1933: "Making appropriations for the Department of Agri-
culture for the fiscal year ending June 30, 1934, and for other pur-
poses." Includes appropriations for extending the benefits of certain
acts of Congress to Puerto Rico, for the maintenance of agricultural
experiment stations, and for the protection of national forests.
Public No. 430, Seventy-second Congress (S. 5337), approved
March 4, 1933: "To amend the Federal Farm Loan Act, as amended,
to permit loans for additional purposes, to extend the powers of Fed-
eral land banks in the making of direct loans, to authorize upon
certain terms the reamortization of loans by Federal and joint-stock
land banks, and for other purposes." Extends land bank loans from
20 to 40 years, broadens the purposes for which loans may be made
by Federal land banks, and otherwise amends the previous law.
Public Resolution No. 51, Seventy-second Congress (H.J.Res. 597),
approved February 11, 1933: To provide appropriations to carry
into effect the act approved-February 8 (Public No. 329).
(b) DURING THE FIRST SESSION OF THE SEVENTY-THIRD
CONGRESS
PHILIPPINE ISLANDS AND PUERTO RICO
Public No. 1, Seventy-third Congress (H.R. 1491), approved March
9, 1933: "To provide relief in the existing national emergency in
banking, and for other purposes." Approves and confirms the ac-
tions, regulations, licenses, orders and proclamations of the President
or the Secretary of the Treasury since March 4, 1933, to remedy the
banking situation. Amends the act of October 6, 1917, by granting
the President authority to regulate transactions in foreign exchange
and the hoarding of gold or silver coin or bullion or currency; imposes
a fine of $10,000 or imprisonment for violation thereof; modifies the


30 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
operation of the national banking system and the Federal Reserve
System; includes the Bank Conservation Act authorizing the appoint-
ment of conservators for closed banks and prescribing rules to enable
them to reopen; liberalizes loans by amending certain sections of
the Federal Reserve Act; appropriates $2,000,000, to carry out the
purposes of the act. (By virtue of the authority granted the Presi-
dent under this act, an Executive order "relating to foreign exchange
and the earmarking and the export of gold coin or bullion or currency"
was issued on April 20, 1933.)
Public No. 2, Seventy-third Congress (H.R. 2820), approved March
20, 1933: "To maintain the credit of the United States Government."
Reduces pension and other allowances granted veterans; effects other
savings by salary reductions and furloughs of officers and employees
of the United States and District of Columbia governments, the
Senate and House of Representatives, including Resident Commis-
sioners from the Philippine Islands and Puerto Rico.
Public No. 4, Seventy-third Congress (H.R. 3757), approved March
24, 1933: "To provide for direct loans by Federal reserve banks to
State banks and trust companies in certain cases, and for other
purposes." Amends the emergency banking act (Pub. No. 1, 73d
Cong.).
Public No. 10, Seventy-third Congress (H.R. 3835), Agricultural
Adjustment Act, approved May 12, 1933: "To relieve the existing
national economic emergency by increasing agricultural purchasing
power, to raise revenue for extraordinary expenses incurred by reason
of such emergency, to provide emergency relief with respect to agri-
cultural indebtedness, to provide for the orderly liquidation of joint-
stock land-banks, and for other purposes." Designed to establish
and maintain balance between the production and consumption of
agricultural commodities. Authorizes cotton option contracts. Con-
fers on the Secretary of Agriculture power to provide for reduction
in acreage or production for market of any basic agricultural com-
modity and to enter into marketing agreements with producers and
processors of any agricultural commodity. It plans to give certain
enumerated basic agricultural commodities—wheat, cotton, field corn,
hogs, rice, tobacco, milk and its products—the same purchasing power
they had in the pre-war period, except tobacco (the base period of
which is the postwar period) such equality of purchasing power to be
approached by gradual correction of existing inequalities as rapidly as
feasible. Sugar is not listed as a basic agricultural commodity.
To obtain revenues, a processing tax is provided, to be paid by the
processor on the processing of the enumerated basic commodities,
either domestic or imported.
Supplementary revenue provisions include compensating taxes upon
importations where necessary to prevent disadvantages in competi-
tion. This compensating tax may, in practice, be found applicable
to certain Philippine products, in which case the collections would
not be covered into the general fund of the Treasury of the United
States, but would be held as a separate fund and paid into the insular
treasury to be used for the benefit of agriculture.
Under the provisions of section 8, a conference of sugar producers,
processors and handlers was convened June 27 by the United States
Department of Agriculture.


31 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
The bill includes the Emergency Farm Mortgage Act of 1933, which
provides for the refinancing of farm mortgages at reduced interest
rates through the issuance, by Federal land banks, of $2,000,000,000
in bonds; for the refinancing of drainage and irrigation districts; and
for additional loans to farmers and fruit growers/
It contains measures for refinancing the Government; confers on
the President power to alter the gold content of the dollar, to direct
the issuance of currency, and to accept silver in settlement of war
debts.
It amends the Federal Reserve Act by allowing an increase or de-
crease in the reserve balances required to be maintained against either
demand or time deposits, in case of emergency by reason of credit
expansion.
Public Resolution No. 10, Seventy-third Congress (H.J.Res. 192):
"To assure uniform value to the coins and currency of the United
States", approved June 5, 1933. Allows payment of every obliga-
tion in any coin or currency which at the time of payment is legal
tender for public and private debts and repeals those provisions of
law requiring the payment of obligations of the United States in gold.
Public No. 66, Seventy-third Congress (H.R. 5661), Banking Act
of 1933, approved June 16, 1933: "To provide for the safer and more
effective use of the assets of banks, to regulate interbank control, to
prevent the undue diversion of funds into speculative operations, and
for other purposes." Designed to correct abuses and strengthen the
banking condition. Amends the Federal Reserve Act. Provides for
the prompt liquidation of closed banks, for the insurance of bank
deposits within certain limitations in order to safeguard depositors,
for the purchase of Government securities, for the discontinuance of
interest on demand deposits of member banks, for the regulation by
the Federal Reserve Board of the rate of interest on time deposits,
for the discontinuance of payment of interest on postal savings deposits
withdrawn without 60 days7 advance notice. Includes a grant of
power to member banks to establish and operate branches in the in-
sular possessions.
Public No. 77, Seventy-third Congress (H.R. 6034), Fourth Defi-
ciency Act, fiscal year 1933, approved June 16, 1933. Carries appro-
priations approximating $3,610,000,000 to carry out the provisions
of the Emergency Farm Mortgage Act of 1933, the Home Owner's
Loan Act of 1933, the National Industrial Recovery Act, the Farm
Credit Act of 1933, and the Securities Act of 1933.
Public No. 67, Seventy-third Congress (H.R. 5755), National Indus-
trial Recovery Act, approved June 16, 1933. Provides a program of
industrial recovery including codes of fair competition, trade agree-
ments and licenses. Labor employed under the various contracts is
protected by provisions covering maximum hours of labor, minimum
rates of pay, and other conditions approved or prescribed by the
President. Authority is given the President to adjust tariffs, levy
quotas, and impose embargoes to meet damaging competition made
possible through depreciated currencies.
Creates a Federal Emergency Administration of Public Works to
plan and execute a comprehensive program of construction with a
view to bringing about wide reemployment through the expenditure
of the proceeds of a bond issue of $3,300,000,000 in useful public,
projects; Puerto Rico to share in its benefits.


32 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
New revenues are provided by increased rates in the gasoline tax
and changes in the income and profits-tax sections of the Revenue
Act of 1932.
Operation of the act is limited to two years.
Public No. 78, Seventy-third Congress (H.R. 5389), Independent
Offices Appropriation Act, 1934, approved June 16, 1933. Carries
appropriations for the Executive Office and sundry independent
executive bureaus, boards, commissions and offices. Reduces the
compensation of all United States officers and employees of the insular
possessions which is fixed by acts of Congress and not subject to re-
duction under Public No. 2, Seventy-third Congress, 15 percent from
date of approval of the act and until July 1, 1934; contains provisions
governing reductions in United States civil-service personnel, retire-
ments, and furloughs. Carries reduced appropriations for pensions
and compensation for veterans. Adds a proviso that no part of the
appropriation for the Veterans' Administration shall be expended for
the purchase of oleomargarine or butter substitute except for cooking
purposes, which, in effect, may limit the use of Philippine coconut oil.
Includes appropriation of $84,000 for extending to Puerto Rico the
benefits of certain Federal laws relating to vocational education and
civilian rehabilitation, and another, of $48,500, for the quota of the
United States in the support of the International Institute of Agri-
culture at Rome, Italy, including the shares of the Philippine Islands
and Puerto Rico.
PUERTO RICO
Public No. 3, Seventy-third Congress (H.R. 3341), approved
March 22, 1933: "To provide revenue by taxation of certain non-
intoxicating liquor, and for other purposes." Repeals certain sections
of the National Prohibition Act; permits the manufacture of beer and
other liquors containing not more than 3.2 percent of alcohol by
weight; makes provision for sale by permit; levies a tax thereon;
provides for shipment and transportation.
Public No. 5, Seventy-third Congress (S. 598), approved March 31,
1933: "For the relief of unemployment through the performance of
useful public work, and for other purposes." To relieve the acute
condition of wide-spread distress, the President is authorized to utilize
such agencies as he may designate to provide employment for unem-
ployed citizens of the United States in the construction, maintenance,
and carrying on works of a public nature in connection with the
forestation of lands. Appropriations are made available for carrying
out its provisions. Operation of the act is limited to 2 years.
Public No. 15, Seventy-third Congress (H.R. 4606), Federal Emer-
gency Relief Act of 1933, approved May 12, 1933. Provides for coop-
eration of the Federal Government with 1 the several States and
Territories in furnishing relief to needy and distressed people and
authorizes, in addition to the funds authorized by the Emergency
Relief and Construction Act of 1932, an appropriation of $500,000,000
to relieve hardship caused by unemployment. Creates the Federal
Emergency Relief Administration to function for 2 years to carry out
the provisions of the act. Includes Puerto Rico in its terms.
Public No. 43, Seventy-third Congress (H.R. 5240), Home Owners'
Loan Act of 1933, approved June 13, 1933. With a view to providing
emergency relief with respect to home mortgage indebtedness, the


33 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Federal Home Loan Bank Board is directed to create a Home Owners'
Loan Corporation, said corporation being authorized to issue bonds
amounting to $2,000,000,000 to be sold to obtain funds for refinancing
home mortgages and extending other direct relief to home owners.
The relief provided is limited to 3 years.
Public No. 75, Seventy-third Congress (H.R. 5790), Farm Credit
Act of 1933, approved June 16, 1933. Designed to supply credit for
agricultural production and marketing, it authorizes the organization
of 12 production-credit corporations and 12 banks for cooperatives,
1 such corporation and 1 such bank to be established in each city
in which there is located a Federal land bank. The Governor of the
Farm Credit Administration is authorized to organize production-
credit associations composed of farmers desiring to borrow money and
a central bank for cooperatives empowered to make loans to
cooperative associations.
The act authorizes the appointment of three commissioners in the
Farm Credit Administration, makes available certain appropriations,
and amends the Agricultural Marketing Act and the Federal Farm
Loan Act.


Appendix B
LIST OF PRINCIPAL MEASURES AFFECTING THE PHIL-
IPPINE ISLANDS AND PUERTO RICO
(a) CONSIDERED DURING THE SECOND SESSION OF THE SEVENTY."
SECOND CONGRESS, BUT WHICH WERE NOT ENACTED
philippine islands and puerto rico
H.R. 14459. To impose a tax on each sale of foreign securities in the
United States. The Philippine Islands and Puerto Rico included in
its terms. (Introduced Jan. 27, 1933; referred to House Committee
on Ways and Means.)
H.R. 14178. To promote travel to and in the United States and its
possessions, thereby promoting American business; and to encourage
foreign travel in the United States. Establishes a travel division in
the Bureau of Foreign and Domestic Commerce of the Department of
Commerce and authorizes appropriations necessary to carry out the
provisions of the act. (Introduced Jan. 11, 1933; referred to the
Committee on Interstate and Foreign Commerce.)
puerto rico
H.R. 14379. Amends the act of March 4, 1931, entitled "An act
to permit the United States to be made a party defendant in certain
cases", by investing the insular courts of Puerto Rico with the same
jurisdiction with which State courts are now clothed with respect to
suits for foreclosure of a mortgage or other, lien upon any property
upon which the United States has a claim. (Introduced Jan. 23,1933;
referred to House Committee on the Judiciary.)
H.J.Res. 539, H.J.Res. 564, S.J.Res. 260. To validate an act of the
fourth special session of the Twelfth Legislature of Puerto Rico
entitled "An act authorizing the Governor of Puerto Rico to guarantee
repayment, in the name of the people of Puerto Rico, of loans made
by the Reconstruction Finance Corporation to the agricultural credit
corporations of the island of Puerto Rico, and for other purposes",
approved October 21, 1932.
In view of the opinion of Reconstruction Finance Corporation
counsel that the Puerto Rican law cited is contrary to the Organic
Act of Puerto Rico, these bills were introduced to remove doubt of
its validity and to facilitate the conferring of the benefits of the
Reconstruction Finance Corporation Act on the agricultural-credit
corporations of Puerto Rico by guaranteeing the repayment of loans
in the name of the people of Puerto Rico. (H.J.Res. 539 introduced
Jan. 5, 1933; H.J.Res. 564 introduced Jan. 20; reported by House
Committee on Insular Affairs (H.Rept. No. 1976) ; S.J.Res. 260 intro-
duced and reported Mar. 1 from Senate Committee on Territories
and Insular Affairs (S.Rept. No. 1328); passed Senate Mar. 1.)
34


35 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
H.R. 13717. Authorizes the Administrator of Veterans' Affairs to
acquire a tract of land in Puerto Rico as a site for a Veterans' Admin-
istration home, provides for the construction of suitable buildings
therefor, and appropriates $225,000 to carry out the purposes of the
act. (Introduced Dec. 15, 1932; referred to House Committee on
World War Veterans' Legislation.)
H.J.Res. 538, H.J.Res. 543. Providing relief for Puerto Rico by
authorizing appropriations of $6,000,000 for loans to individual coffee
planters, coconut planters, fruit growers, and other agriculturists in
Puerto Rico, to be expended by the Puerto Rican Hurricane Relief
Commission. (Introduced Jan. 4 and Jan. 6, respectively; referred to
House Committee on Insular Affairs.)
S. 5408. Amends Public Resolution No. 74, Seventieth Congress,
approved December 21, 1928, by extending the Puerto Rican Relief
Revolving Fund administered by the Puerto Rican Hurricane Relief
Commission for a period of 5 years to December 20, 1938. (Intro-
duced Jan. 13, 1933; referred to Senate Committee on Territories and
Insular Affairs; reported Feb. 14 (S.Rept.. 1224); passed by Senate
Feb. 22; referred to House Committee on Insular Affairs.)
H.R. 14081. Amends the Organic Act of Puerto Rico enacted
March 2, 1917, by extending its provisions granting United States
citizenship, broadening the duties of the Treasurer of Puerto Rico to
include supervision of public funds of municipalities, placing further
restrictions on the employment of senators and representatives under
the Government of Puerto Rico, changing the provisions governing the
appointment of certain court officials and those governing the method
of annual appropriations. (Introduced Jan. 6, 1933; referred to
House Committee on Insular Affairs.)
S.J.Res. 183. To amend the Puerto Rican Hurricane Relief Act by
authorizing the Puerto Rican Hurricane Relief Commission to dispose
of farm lands in Puerto Rico which have been acquired through fore-
closure proceedings. (Introduced during the first session; reported
by Senate Committee on Territories and Insular Affairs Feb. 14, 1933
(S.Rept. No. 1225).)
â– (b) CONSIDERED DURING THE FIRST SESSION OF THE SEVENTY-
THIRD CONGRESS, WHICH WERE NOT ENACTED
PHILIPPINE ISLANDS AND PUERTO RICO
S. 1699, H.R. 5863. To prevent the loss of the title of the United
States to lands in the Territories or Territorial possessions through
adverse possession or prescription. (S. 1699 introduced May 15,
1933; referred to Senate Committee on Territories and Insular
Affairs; H.R. 5863 introduced June 1; referred to House Committee
on the Judiciary.)
H.R. 3895. To impose a tax on food products containing imported
organic fats and oils, any revenue collected upon products originating
in any insular possession of the United States to be paid into the
treasury of such insular possession. (Introduced Mar. 21, 1933;
referred to House Committee on Ways and Means.)
H.R. 5862. To provide for the removal of American citizens and
nationals accused of crime to and from the jurisdiction of any officer
or representative of the United States vested with judicial authority
in any country in which the United States exercises extraterritorial


36 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
jurisdiction. (Introduced June 1; referred to the House Committee
on the Judiciary.)
S. 1865, S. 1868. To amend the bankruptcy law by making pro-
vision for the emergency temporary aid of insolvent public debtors,
to preserve the assets thereof, and for other related purposes. (Intro-
duced June 8; referred to Senate Committee on the Judiciary.)
S. 1849. Amends the emergency banking legislation approved
March 9, 1933, by providing for the purchase by national banks of
the assets of closed national banks and State banks and trust com-
panies. (Introduced June 7; referred to House Committee on
Banking and Currency.)
PHILIPPINE ISLANDS
H.J.Res. 118. Provides for the return to the Philippine Islands of
unemployed Filipinos residing in the continental United States who
have fallen into financial distress and disaster and desire to return,
thus relieving communities in the United States of the care and
financial aid of natives of the Philippine Islands who have become
destitute and dependent upon public and private charities. Author-
izes appropriations to accomplish that result. (Introduced Mar. 23,
1933; referred to House Committee on Immigration and Naturaliza-
tion; May 11, reported with amendments extending provisions to
Territories so as to allow indigent Filipinos in Hawaii to return home
in the same manner as those in the United States (H.Repk 127).
Somewhat similar legislation considered in the Seventy-second Con-
gress but not enacted.)
H.J. Res. 173. Authorizes the restoration of a limitation on the
importation, free of duty, of Philippine sugar, limiting the. amount
to 500,000 short tons annually. (Introduced May 4; referred to
House Committee on Ways and Means.)
H.R. 6035. To prohibit the sale or offer for sale for domestic con-
sumption or use, of oleomargarine containing less than 75 percent of
animal fat. This would have the effect of materially limiting the use
of Philippine coconut oil for that purpose. (Introduced June 10;
referred to House Committee on Agriculture.)
PUERTO RICO
S.J. Res. 49. Authorizes an increase of $40,000,000 for use by the
Reconstruction Finance Corporation for the purchase of grain or grain
products for distribution by the American National Red Cross for
relief of distress. (Introduced May 1, 1933; referred to Senate Com-
mittee on Banking and Currency.)
H.R. 5569. Rivers and harbors bill; authorizes the construction,
repair, and preservation of certain public works on rivers and harbors,
including Mayaguez and Ponce Harbors, Puerto Rico. (Introduced
May 9, 1933; reported by House Committee on Rivers and Harbors
May 9. (H. Rept. No. 119).)
H.R. 1745. To authorize the acquisition for military purposes of
the portion of the San Juan Military Reservation known as San
Geronimo. (Introduced Mar. 9, 1933; referred to House Committee
on Military Affairs.)


37 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
H.R. 5306. To impose a tax of 25 percent on money removed from
the United States for investment in foreign countries for a period of
more than one year. Includes Puerto Rico in its terms. (Introduced
April 27, 1933; referred to House Committee on Ways and Means.)
S. 1648. To amend the Reconstruction Finance Corporation Act
to provide for loans to closed building and loan associations to aid
in financing agriculture, commerce and industry. (Introduced May
11; referred to Senate Committee on Banking and Currency June 1.)
H.R. 5330. Amends the Organic Act of Puerto Rico enacted March
2, 1917, by extending its provisions granting United States citizen-
ship. (Introduced Apr. 28, 1933; referred to House Committee on
Insular Affairs.)
H.R. 5492; H.J. Res. 202. Providing for the extension to Puerto
Rico of the work of the United States Geological Survey in the
making of topographic and geologic surveys and water-resource
investigations, the cost to be borne one half by Puerto Rico and one
half by the United States Government. (H.R. 5492 introduced May
3; referred to House Committee on Insular Affairs. H.J. Res. 202
introduced June 9; reported by House Committee on Insular Affairs
June 10 (H. Rept. No. 236).)
H.R. 1524. Providing for cooperation with the several States in
the care, treatment, education, vocational guidance and placement,
and physical rehabilitation of crippled children. Puerto Rico to
share in its benefits. (Introduced Mar. 9; referred to House Com-
mittee on Education.)


Appendix C
PHILIPPINE ISLANDS
Total foreign trade
12 months ending Dec. 31— Consignments Shipments
From United States From other countries Total To United States To other countries Total
1923 1.............. $50, 352,535 60,398,603 69,297,583 71,575,618 71,478,297 83,858,068 92, 592,959 78,183,029 62,139, 683 51,297, 750 $37,147,212 47,612,292 50,435,251 47,723,374 44,373,175 50,798,830 54, 567,316 44,909,925 37,039,036 28,097,335 $87,499,747 108,010,895 119,732,834 119,298,992 115,851,472 134,656,898 147,160, 275 123,092,954 99,178,719 79, 395,085 $85,047,023 97,313,903 109,044,942 100, 003,215 116,038,250 115,585,876 124,465,473 105,342,061 83,422,397 82,647,867 $35,705,967 38,030,760 39,832,263 36,881,105 39, 535,835 39,468,670 39,981, 370 27,825,067 20,549, 677 12,690,214 $120,752,990 135,344,663 148,877,205 136,884,320 155,574,085 155,054, 546 164,446,843 133,167,128 103,972,074 95,338,081
1924 i_.............
1925...............
1926..............
1927...............
1928_______________
1929...............
1930...............
1931...............
1932...............

i Corrected figures under consignments.
Manila-hemp shipments
12 months ending Dec. 31— Total Shipments to United States
Quantity Value Value per ton Quantity Value Value per ton
Long tons Long tons
1923......................... 187,433 $24,951, 575 $133 81,167 $12,635,311 $156
1924......................... 174,510 29,950,458 172 75,999 15,267,238 201
1925...........—........... 148,638 35,521,646 239 58,976 18,200,649 309
1926......................... 151,609 32,142,038 212 60,881 16, 301,101 268
1927......................... 146,474 29, 687,129 203 47,779 12,261,975 257
1928......................... 172,140 26,593, 606 154 50,304 9, 527,045 189
1929......................... 186,431 28,420, 550 152 66,830 12, 276,363 184
1930......................... 166,616 18,426, 676 111 57,782 7,638,029 133
1931.......................- 130,026 8,942,907 69 27,461 2, 511,734 91
1932......................... 104,114 5, 015,602 48 24,740 1,481,576 60
38


39 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Coconut-oil shipments
12 months ending Dec. 31—
Total
Quantity
Value
Value per
pound
Shipments to United States
Quantity
Value
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
1932.
Long tons
87,774
109.865
102,482
115, 438
142, 515
139,996
187, 509
145,036
162,364
112,861
$14,066,582
18,811,031
19,820,189
22, 345,217
24,840,683
23,489,173
29,184,942
19,155,3S2
15, 035,322
7,651,144
Cents
7.15
7.64
8.63
8.64
7.7S
7.49
5.95
5.8$
4.13
Long tons
83,409
108,810
94,851
113,116
139,352
138,608
185,707
143,796
146,383
108,517
$13,
18,
18,
21,
24,
23,
28,
18,
13,
7,
375,397
628,406
428,482
926,024
284,361
239,521
900,587
961,827
585,684
335,830
Copra shipments
12 months ending Dec. 31—
Total
Quantity
Value
Value per
torn
Shipments to United States
Quantity
Value
Value per
ton
1923.
1924.
1925.
1926.
1927.
1928.
1929.
1930.
1931.
1932.
Long tons
203,859
154,285
144,391
171,272
196,170
230,713
170,830
171,546
171,486
135,072

$19,246,999
15,351,SS2
15,868, 703
18, m, 733
19,155,741
22,542,341
15,565,821
13,433,438
9,150,404
5,133,227
$94
96
110
109
98
98
91
78
53
38
Long tons
127,217
105,828
114,323
127,042
154,350
179,701
127,570
138,931
118,975
81,716
$11,989,932
10,498,165
12,581, 550
13,816,396
15,238,157
17,603,832
11,440,898
10,654,348
6,052, 329
3,056,067
110
109
98
98
90
77
51
37
Desiccated-coconut shipments
Total Shipments to United States
12 months ending Dec. 31— Value per pound
Quantity Value Quantity Value Value per pound
Pounds Cents Pounds Cents
1923.............-.......... 9,588,140 $903,123 9.42 9,583,262 $902,576 9.42
1924.......-_________________ 17,932,108 1,598,559 8.92 17,916,418 1,697,413 8.92
1925_________________________ 27,608,670 2,608,873 9.45 27,574,475 2,605,611 9.45
1926......................... 31,587,047 2,757,657 8.73 31,526,986 2,751,964 8.73
1927......................... 33,472,877 „ 2,850,060 8.51 33,370,655 2,840,286 8.51
19281........................ 44,895,711 " 3,723,586 8.29 44,838,722 3,718,269 8.29
1929......................... 49,130,664 3,540,124 7.20 49,094,777 3,537,004 7.20
1930......................... 43, 943, 820 2,962,845 6.74 43,886,901 2,958,710 6.74
1931.......................- 37,084,972 1,822,129 4.91 37,044,928 1, 819,691 4.91
1932............-..........- 35,433,785 1,616,701 4.56 35,408,847 1,615,446 4.56
i Includes revision of preliminary figures.


40 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Sugar shipments 1
Total Shipments to United States
12 months ending Dec. 31— Value per pound Value per pound
Quantity Value Quantity Value
Long tons Cents Long tons Cents
1923______________________ 267,686 $34,519,123 5.76 226,911 $30,377,151 5.98
1924_____________________ 352,177 41,868,087 5.31 296,113 37,490,751 5.65
1925_________________________ 538,192 45,514,003 3.77 456,656 41,416,841 4.05
1926___________—........... 404,734 32,229,634 3.55 335,912 29,162,469 3.88
1927________________________ 544,581 50,295,960 4.12 500,284 47,886,987 4.27
1928......................... 560,933 47,542,940 3.78 525,786 45,691,238 3.88
1929__________________ 684,873 53,244,149 3.47 660,352 52,153,930 3.53
1930_________________________ 732,225 52,240,226 3.18 725,548 52,038,657 3.20
1931......................... 741,036 49,963,105 3.00 740,397 49,944,465 3.01
1932_________________________ 1,000,506 59,801,885 2.67 1,000,209 '59,792,293 2.67
'Includes refined sugar separately shown as follows:
12 months ending Dec. 31— Total Shipments to United States
Quantity Value Value per pound Quantity Value Value per pound
Long tons 838 Cents Long tons Cents
1923_______________________ $138,554 7.38 824 $135,664 7.35
1924......................... 4,459 697,275 6.98 4,457 676,895 6.98
1925. ........................ 4,159 540,318 5.80 4,138 537,381 5.80
1926......................... 1,779 226,074 5.67 1,776 225,693 5.67
1927......................... 1,809 219,183 5.41 1,790 216,423 5.40
1928......................... 7,917 6,899 955,735 5.39 7,859 947,945 5.38
1929_........................ 824,323 5. 33 6,834 816,947 5.34
1930......................... 26,939 2,722,819 4. 51 26,928 2,721,620 4. 51
1931_________________________ 39,835 3,329,866 3.73 39,787 3,324,881 3. 73
1932......................... 56,223 4,465,238 3. 55 56,185 4,461,713 3.65
Leaf-tobacco shipments
12 months ending Dec. 31— Total Shipments to United States
Quantity Value Value per pound Quantity Value Value per pound
Pounds Cents Pounds Cents
1923......................... 53, 528, 374 $3, 636,710 6.79 286,064 $52,852 18.48
1924....................... 47,803, 706 4,034, 466 8.44 66,369 10, 572 15.93
1925_______________________ 36, 559,164 3, 065,007 8. 38 6,332 912 14.40
1926. ........................ 31, 576,755 2,679, 630 8.49 9,370 3,820 40.76
1927......................... 52,004,303 3,918, 749 7. 54 157,175 28,898 18.39
1928......................... 44, 571,470 3, 029,633 6.80 124, 617 15,896 12.76
1929......................... 60,800, 643 4,392,435 7. 22 104.009 12,604 12.12
1930......................... 45,790,900 3, 725,879 8.13 422, 525 48,695 11. 52
1931_________________________ 49,941,022 3,501,496 7.01 236,106 41,268 17.48
1932......................... 47,664,488 2,822,233 5.92 426,949 41,862 9.80


41 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Cigar shipments
12 months ending Dec. 31— Total Shipments to United States
Quantity Value Value per thousand Quantity Value Value per thousand
1923......................... Thousands 280, 755 218,599 252,553 247,726 207,678 220,884 188,333 178, 561 183,874 182,575 $6,169,944 5,404,662 6, 043,976 5,663,420 4,652,268 ; 4,765,140 f 3,824,649 3,545,223 j 3,395,337 ; 3,231,218 $21.98 24.72 23.93 22.86 22.43 21.57 20.31 19.86 18.47 17.7® Thousands 219,898 175,762 207,080 195,327 167,300 179, 570 160,946 144,767 168,320 164,616 $5,149,115 4,419, 782 5,025, 596 4,569,218 3,768,916 3,855,672 3,013,355 2,810, 279 2,885,366 2,885, 524 $23.42 25.15 24. 25 23.39 22.53 21.47 19.96 19.41 18.20 17.53
1924.........................
1925.........................
1926.........................
1927.........................
1928.........................
1929.........................
1930.........................
1931.........................
1932.........................

Embroidery shipments 1
12 months ending Dec. 31— Total value Value of shipments to United States 12 months ending Dec. 31— Total value Value of shipments to United States
1923.................... $6,375,645 4, 698,001 4, 571,675 5,992,389 4,003,476 $6, 365,585 4, 686,680 4, 550,154 5,976,464 3,976,126 1 1928________ — — $4,523,968 6,011,532 3, 591, 737 2, 657,130 3, 349, 825 $4,483, 513 5,962,093 3, 544, 036 2,625, 323 3,334,481
1924.................... 1929....................
1925____________________ 1930___________________
1926.................... 1931________________ __
1927.................... 1932....................

1 On cotton and silk.
Cordage shipments
Total Shipments to United States
12 months ending Dec. 31— Value per pound
Quantity Value Quantity Value Value per pound
Pounds Cents Pounds Cents
1923......................... 6,966, 243 $748,884 10.75 3,051,325 $339,786 11.14
1924......................... 9,927, 576 1,094,312 11.02 5,075,631 593,615 11.70
1925......................... 12,121,374 1,676, 508 13.83 5,356,153 803, 049 14.99
1926......................... 10,064,925 1,405, 458 13.96 4,054,189 648, 036 15.98
1927......................... 12,283,839 1,666, 706 13. 57 4,135,609 640, 745 15.49
1928......................... 14,494,705 1,775,436 12.25 5,393,029 721,120 13.37
1929......................... 15, 667,016 1,904,272 12.15 6,850,770 932,730 13. 61
1930......................... 13,858,457 1,553, 227 11. 21 6,769,412 841,564 12.43
1931......................... 10,224,805 887,408 8.68 4, 599,113 460,001 10.00
1932......................... 8,452,224 659,047 7.80 4,447,882 411, 207 9.24
All other shipments
12 months ending Dec. 31— Total value Value of shipments to United States 12 months ending Dec. 31— Total value Value of shipments to United States
1923 $10,134,405 12,533,205 14,186, 625 13,082,144 14, 503,323 $3,859,318 4,121,281 5,432,098 4,847, 723 5, 111, 799 1928 i................... $17,068,724 18,358, 369 14, 532,495 8,616,836 6,057, 199 $6,729,770 6, 235,909 5,845,916 3,496, 536 2, 693, 581
1924 1929....................
1925.................... 1930____________________
1926.................... 1931....................
1927................. 1932....................

i Includes revision of preliminary figures.


Appendix D
PHILIPPINE ISLANDS
bonded indebtedness
Under an act of Congress approved August 29, 1916, as amended
by an act approved May 31, 1922, it is provided that the entire indebt-
edness of the Philippine government, exclusive of those obligations
known as friar-land bonds and of bonds not to exceed $10,000,000
in amount, issued by that government and secured by an equivalent
amount of bonds issued by the provinces and municipalities thereof,,
shall not exceed at any one time 10 percent of the aggregate tax
valuation of its property.
It is further provided that the entire indebtedness of the city of
Manila shall not exceed 10 percent of the aggregate tax valuation of
its property, nor that of any province or municipality a sum in excess,
of 7 percent of the aggregate tax valuation of its property at any
one time.
The assessed value of taxable real property of the Philippine Islands
as at December 31, 1932, was $965,106,850; that of the city of Manila
as at December 31, 1932, was $140,094,477.
The following statements show the bonded indebtedness of the
Philippine Islands and of its provinces and municipalities, respectively,
on June 30, 1933:
Insular government
Title of loan
Rate
Amount
Issued
Outstanding
June 30, 1933
Dated
Re-
deem-
able
Due
Included in 10 percent limitation:
Public improvements..................
Do_________________________________
Do_________________________________
Do_______________________________-
Gold bonds of 1916.....................
General bonds.........................
Do.................................
Irrigation and permanent public works.
Metropolitan water district............
Do.................................
Do___________________-............
Cebu port works.......................
Do.................................
Do_________________________________
Iloilo port works.......................
Do...............................
Do_______________________________-
Per-
cent
4
4
4
5M
4
5
4 y2
4V2
5
4 y2
iy2
4 H
4 M
4 Vt
4V2
$2, 500,000
1, 000,000
1, 500,000
10,000,000
4, 000, 000
5, 000, 000
23,000,000
11,800, 000
3, 000,000
1, 500,000
250,000
750, 000
750,000
500,000
750,000
500,000
925,000
$1,525,000
• 408,000
644, 000
8, 268,000
2, 655,000
4,165,000
18,959, 000
9,390,000
2, 773, 000
1, 499,000
250,000
720,000
728, 000
500,000
690,000
490, 000
925,000
1905
1906
1909
1921
1916
1922
1922
1922
1925
1929
1931
1928
1929
1930
1928
1929
1930
1915
1916
1919
1926
1935
1941
1935-
1936
1939
1941
1946
1952
1952
1952
1955
1959
1961
1958.
1959
1960
1958
1959
Total.
67,725,000
54,589,000
Not included in 10 percent limitation:
Friar-land purchase...............
Collateral bonds:
Of 1922 (Manila)..............
Of 1926 (Iloilo)________________
Of 1926 (Pangasinan)..........
Of 1926 (Occidental Negros)...
Of 1926 (Marinduque).........
Of 1926 (Ilocos Norte)_________
Of 1927 (Laguna)______________
Of 1927 (provincial)...........
Of 1927 (Camarines Sur)______
Of 1928 (La Union)...........
Of 1928 (Manila)..............
4 M
4^
4Yi
4 M
4M
4^
4 H
4 M
7,000,000
2, 750,000
976, 500
428, 600
400,000
55, 600
274,000
98,000
1,405,000
111,000
110,000
500, 000
3, 365,000
2,307, 000
~ ' :, 500
:, 500
i, 000
i, 500
:, 000
1,000
1,000
1,000
I, 000
!, 000
428,5
400, C
55,1
274, C
110,1
110, (
472, C
1904
1922
1926
1926
1926
1926
1926
1927
1927
1927
1928
1928
1914
1937
1934-
1950 >
1956
1956.
1956-
1956
1956
1957
1957
1957
1958
1958.
Total_______
Grand total.
14,108,500
9,874, 500
81,833, 500
64, 463, 500
42


43 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Provinces and municipalities
Title of loan
Rate
Amount
Issued
Outstanding
June 30, 1933
Dated
Re-
deem-
able
Due
'City of Manila:
Sewer and waterworks__________________
Do__________________________________
Do__________________________________
Public improvements-__________________
Do__________________________________
Do__________________________________
City of Cebu: Sewer and waterworks........
Bangued, Abra Province: Water supply....
Mayjayjay, Laguna Province: Public im-
provements...............................
Santa Cruz, Laguna Province: Public im-
Y- provements_______________________________
Province of Iloilo, and 9 municipalities (Cab-
atuan, Dingle, Iloilo, Jaro, La Paz, Maasin,
b Pavia, Pototan, and Santa Barbara):
Public improvements_____________________
Province of Occidental Negros: Public im-
provements_______________________________
Province of Pangasinan: Public improve-
provements_______________________________
Province of Marinduque: Public Improve-
ments_____________________________________
Province of Ilocos Norte and 3 municipalities
(Bacarra, Laoag, and Pasuquin): Public
W improvements____________________________
Province of Laguna: Public improvements..
Province of Ilocos Sur and municipality of
fr+Vigan: Public improvements_____________
Province of Tarlac: Public improvements...
Province of Pampanga: Public improve-
ments_____________________________________
Province of Nueva Ecija: Public improve-
ments_____________________________________
Province of Bulacan: Public improvements-
Province of Camarines Sur and 4 municipali-
ties (Naga, Magarao, Canaman, and Cama-
ligan): Public improvements______________
Province of La Union: Public improvements.
Total_________________________________
Per-
cent
4
4
4
5H
4
5
5
5
4H
4M
4 M
4H
4 M
4 M
4M
4 M
$1,000,000
2,000,000
1, 000, 000
2,750, 000
500, 000
500, 000
125,000
20, 000
20, 000
45, 000
976,500
400, 000
428,500
55, 500
274, 000
98,000
175,000
171,000
477,000
345,000
237,000
111, 000
110, 000
$451, 000
866,000
634, 000
2, 307, 000
472,000
498, 000
85,000
20,000
20,000
45,000
964, 500
400, 000
428, 500
55, 500
274,000
98,000
163,000
161, 000
432, 000
310, 000
224, 000
110, 000
110,000
1905
1907
1908
1920
1928
1929
1911
1919
1919
1919
1926
1926
1926
1926
1926
1927
1927
1927
1927
1927
1927
1927
1928
1915
1917
1918
1930
1921
1929
1929
1929
1936
1935
1937
1938
1950
1958
1959
1941
1949
1949
1949
195
1956
1956
1956
1956
1957
1957
1957
1957
1957
1957
1957
1958
11,818, 500
9,128, 500
SINKING AND OTHER FUNDS
Under the provisions of Act No. 3014 of the Philippine Legislature,
approved March 8, 1922, sinking funds for the retirement of bonds
issued by the Philippine Government are to be invested only in
securities of the Government of the Philippine Islands or the Govern-
ment of the United States after the approval of this act.
Under the provisions of Act No. 3723 of the Philippine Legislature,
approved November 21, 1930, as amended by Act No. 3828, approved
October 28, 1931, funds derived from the sale of financial interest
protection bonds, issued under Act No. 2999, may be invested: (a) In
bonds or other evidences of indebtedness of the Government of the
Philippine Islands; (6) in bonds or other evidences of indebtedness of
the Government of the United States; (c) in bonds or other evidences
of indebtedness of a chartered city, province, or municipality of the
Philippine Islands; (d) in securities the principal and interest whereof
are guaranteed by the Government of the United States or of the
Philippine Islands; (e) in Manila Railroad Co. southern lines bonds
issued under Act No. 1905.
Since the passage of these acts the treasurer of the Philippine
Islands has transferred the following amounts to this Bureau for
investment:


44 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Prior years Year ending June 30— Total
1932 1933
Sinking funds_________________________ $23,368,474. 08 1, 684,868. 89 $2, 988,039.83 483, 786.14 2,035, 000. 00 $2, 776,910.17 488, 736. 81 1, 550, 000. 00 $29,133, 424. OS 2, 657, 391. 84 3,585,000.00
Trust funds____________________________ Financial interest protection bond fund.
Total___________________________
25, 053, 342.97 5, 506, 825. 97 4, 815,646.98 35,375,815. 92
At a cost of $33,091,939.14, bonds of the face value of $33,064,000
have been purchased from the above funds. Included in these pur-
chases were $920,000 par value of Manila port works and improve-
ments 5K-percent bonds bought at a cost of $944,438.35, the entire
issue of which was canceled on September 2, 1930. All other bonds
purchased are included in the following statement of securities, either
purchased by this Bureau for account of the Government of the
Philippine Islands or deposited with this Bureau by the insular
treasurer, to be held for his account in the United States pending
cancelation or other disposition.
Sinking and other fund investments
Prior years
Year ending June 30—
1932
1933
Total
Philippine government:
Collateral bonds:
4^'s, due 1950 (Manila)______________________
4^'s, due 1956 (Iloilo)__________________________
4^'s, due 1956 (Occidental Negros)_____________
4M's, due 1956 (Pangasinan)____________________
4^'s, due 1956 (Ilocos Norte)___________________
4^'s, due 1957 (Provincial)_____________________
4M's, due 1957 (Camarines Sur)----------------
41/>'s, due 1957 (Laguna)________________________
4H's, due 1958 (Manila)________________________
General:
43^'s, due 1952______________________________
5's, due 1952.___________________________________
5's, due 1955, metropolitan water district--------
43^'s, due 1959, metropolitan water district_____
Land purchase, 4's, due 1934. ......................
Manila R.R. Co. purchase, 4's, due 1946___________
Public improvement:
4's, due 1935____________________________________
4's, due 1936____________________________________
4's, due 1939____________________________________
5y/s, due 1941__________________________________
4)^'s, due 1952, irrigation and permanent public
works________________________________________
4K's, due 1958, Cebu port works---------------
4^'s, due 1959, Cebu port works. --------------
4^'s, due 1958, Iloilo port works________________
4J^'s, due 1959, Iloilo port works----------------
Municipal:
City of Cebu 4's, due 1941______________________
City of Manila 4's, due 1935____________________
City of Manila 4's, due 1937____________________
City of Manila 4's, due 1938..._________________
City of Manila 5H's, due 1950._________________
City of Manila 4^'s, due 1959__________________
Railroad:
Manila R.R. Co. 7's, due 1937.................
Manila R.R. Co. 4's, due 1939.................
Philippine Ry. Co. 4's, due 1937...............
United States Government: Fourth Liberty Loan-----
$568,000
976, 500
400,000
428, 500
274, 000
485, 000
63,000
500,000
4, 526,000
993,000
686,000
100, 000
2, 664, 000
1,496,000
965,000
659, 000
856, 000
1, 609, 000
5, 493, 000
525, 000
218,000
45,000
584,000
1,157,000
524,000
2,750, 000
299,000
687,000
1, 273,000
75, 000
$172,000
60, 000
25,000
2,000
1, 814,000
912,000
322, 000
25,000
1,007,000
38, 000
98, 000
4,000
55,000
1,448,000
641,000
25, 000
39,000
102,000
10,000
5,000
73,000
27, 000
1,000
55,000
201,000
$31,000
376,000
276,000
288, 000
22,000
555,000
205, 000
6, 000
14,000
16, 000
583,000
200,000
20,000
16, 000
30,000
7,000
26,000
26,000
14,000
21,000
87, 000
128,000
$771,000
976, 500
400,000
428,500
274,000
*45, 000
88,000
2,000
500,000
6,716,000
2,181,000
1, 296,000
147,000
4,226,000
1,739,000
1, 069,000
677,000
927,000
3, 640,000
6,334,000
570,000
55,000
350,000
10,000
52,000
615, 000
1,256,000
565,000
2, 750.000
321,000
829,000
329,000
1, 273,000
75,000
Total.
31,879,000
7,161,000
2, 947, 000
41, 987, 000


45 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Under the provisions of section 2 of Act No. 3014, the following
bonds, included in the preceding list of bonds purchased, have been
canceled:
Collateral bonds:
due 1950 (Manila)____________________________________________________________________$443, 000
4>4's, due 1956 (Iloilo)________________________________________________________________________12, 000
4K's, due 1957 (Provincial)________________________________________________________________115, 000
4#s, due 1957 (Camarines Sur)________________________________________________________1, 000
4y2's, due 1958 (Manila)____________________________________________________________________28, 000
General bonds:
4H's, due 1952______________________________________________________________________________________4, 041, 000
5's, due 1952________________________________________________________________________________________835, 000
5's, due 1955, metropolitan water district______________________________________227, 000
4%'s, due 1959, metropolitan water district____________________________________1, 000
Land purchase: 4's, due 1934____________________________________________________________________3, 635, 000
Manila R.R. Co. purchase: 4's, due 1946______________________________________1, 345, 000
Public improvement:
4's, due 1935________________________________________________________________________________________975, 000
4's, due 1936________________________________________________________________________________________592,000
4's, due 1939________________________________________________________________________________________856, 000
5}4's, due 1941______________________________________________________________________________________1,732,000
4}4's, due 1952, irrigation and permanent public works----------------2, 410, 000
4y2's, due 1958, Cebu port works______________________________________________________30, 000
4y2's, due 1959, Cebu port works______________________________________________________22, 000
41/2's, due 1958 Iloilo port works________________________________________________________60, 000
4J/2's, due 1959 Iloilo port works________________________________________________________10, 000
Municipal:
City of Cebu 4's, due 1941________________________________________________________________40, 000
City of Manila 4's, due 1935______________________________________________________________549, 000
City of Manila 4's, due 1937______________________________________________________________1, 134, 000
City of Manila 4's, due 1938______________________________________________________________366, 000
City of Manila 4J/2's, due 1959__________________________________________________________2, 000
Total_________________________________________________ 19,461,000
All canceled bonds have been shipped to the auditor of the Philip-
pine Islands. This leaves $22,526,000 in securities actually held in
this Bureau for account of the Philippine Government on June 30,
1933.
RAILWAY BONDS
The bonds of railroads, guaranteed as to interest by the Philippine
government, outstanding are:
Manila R.R. Co. (southern lines) 4 percent bonds, due 1939______$10, 586, 000
Manila R.R. Co. (southern lines) 4 percent bonds, due 1959____________1, 069, 000
Manila R.R. Co. 7 percent sinking fund bonds, due 1937 1________________1, 500, 000
Philippine Ry. Co. first-mortgage 4 percent bonds, due 1937------------8, 549, 000
Total______________________________-_________________ 21,704,000
No bonds of the Manila Railroad Co. were purchased from sinking
funds of said company nor were any bonds canceled during the past
year.
The par value of the bonds held in safekeeping by the trustee on
June 30, 1933, amounted to $390,000 ; of these, $355,000 bonds were
due in 1939 and $35,000 bonds were due in 1959.
i The payment of the principal of this issue of bonds is also guaranteed by the Philippine government..


46 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
COINAGE
The new coin received during the year 1932, including recoinage,
consisted of ^197,793.05 of the 5-centavo denomination and f*40,000
of the 1-centavo denomination. On December 31, 1932, the total
amount in circulation and available therefor was 5P40,726,514.28,
consisting of the following:
Pesos1___________________________________________________P21, 889, 679. 00
50 centavos______________________________________________ 6, 272, 494. 50
Subsidiary coins__________________________________________ 9, 427, 424. 00
Minor coins______________________________________________ 3, 136, 916. 78
Total______________________________________________ 40,726,514.28
INSULAR RECEIPTS AND DISBURSEMENTS
The following is a statement of insular receipts and disbursements
of the Philippine Islands, exclusive of all items of a refundable
character, expressed in United States currency, for fiscal (calendar)
years 1929, 1930, 1931, and 1932:
Year ending Dec. 31—
1929 1930 1931 1932
CREDITS Balance from prior years______________ .Revenues: Customs..______ ______________ $34, 673, 756. 00 $39, 918,081. 40 $36, 528, 286. 03 $31,961, 288.47
12, 829,104. 78 21, 962, 415. 98 1,086,515. 15 10, 513, 550. 94 679, 000. 00 11, 243, 783. 50 19,855, 614. 53 1, 318, 560. 09 11,463,416.82 3, 610, 840. 02 10, 243, 860.05 20,159, 670. 67 8, 247,978. 00 20,455,933. 52
Internal____________________________ Repayment of Philippine National Bank losses, Act 3174_____________
Miscellaneous.________________ 11, 094, 297. 52 258,383. 00 8, 654,474.61
Proceeds from sale of bonds________
Total revenues___________________ Total credits_____________________ DEBITS Expenditures: Bureaus and offices_________________ Revenue service___________________ Public debt________________________ Public works and equipment_______ Miscellaneous_______________________
47, 070, 586. 85 47, 492, 214'. 96 41,756, 211.24 37,358,386.13
81,744, 342.85 87, 410, 296. 36 78, 284,497. 27 69,319, 674. 60
18, 470,937. 99 4, 916, 536. 01 5, 040, 792. 47 2,119, 502.16 114, 404. 29 9,809,466. 85 1,354,621.68 19,083,146.61 4,863, 625. 25 9, 747,870. 63 4,133, 415. 28 131, 985. 55 9, 562, 536. 32 3, 053, 200.80 306, 229.89 15, 866, 265. 52 5, 380, 944. 48 4, 904, 420. 63 4,065, 216. 51 75, 749.10 13,418,469. 24 1,889,455. 67 .....722,687.65" 31,961, 288. 47 14, 777, 537.44 4, 578, 466.42 4, 520,445. 33 3,376,126. 32 401, 658. 75 11,235,413. 37 344,866. 20 613,929.78 29,471,230.99
Aid to provinces, cities, and munic- ipalities-------- ---------------- Purchase of investments and secu- rities_________________________ ... Deferred credits to income of prior years____________________________
Pensions and gratuities 1___________
:Surplus............................. . Total debits...................... 39, 918,081. 40 36, 528, 286. 03
81, 744, 342. 85 87, 410, 296. 36 78,284,497.27 69, 319,674.60
1 Prior to 1931, included in item of bureaus and offices.
1 The Philippine peso equals 50 cents United States currency.


Appendix E
PUERTO RICO
Total foreign trade
12 months ending June 30— Consignments Shipments
From United States From foreign countries Total To United States To foreign countries Total
1924 .............. $80, 586,699 79,198, 565 83,056, 553 87, 049,962 79,701,911 85,078,696 73,078,779 68,018,167 52,826,794 48,886,844 $8, 782, 925 11, 306,036 12, 201, 711 11,760, 788 12, 640, 418 12, 782,164 10, 844,050 8,419, 243 8, 454,307 5,858,867 $89,369,624 90, 504,601 95, 258, 264 98,810,750 92,342,329 97, 860,760 83, 922,829 76,437,410 61,281,101 54, 745, 711 $80,754,975 84, 411, 792 88,106, 570 99, 223,154 96, 662,619 76, 471,829 95,097,640 94,876,997 83, 645,863 73, 387,498 $7, 525, 565 10, 407,152 10, 618, 281 8,844, 280 6, 872,120 5, 251,041 4, 468,565 3, 523, 930 2, 771, 075 2,018, 957 $88, 280, 540 94,818,944 98, 724,851 108, 067,434 103, 534,739 81,722,870 99, 566, 205 98,400, 927 86, 416, 938 75,406,455
1925...............
1926...............
1927...............
1928...............
1929...............
1930...............
1931. ............—
1932............—
1933...............

Sugar shipments1
12 months ending June 30— Total Shipments to United States
Quantity Value Value per pound Quantity Value Value per pound
1924_________________________ 1925_________________________ 1926-...........—......... 1927_________________________ 1928...............—....... 1929—-____________________ 1930_______________________- 1931—...................... 193 2_________________________ 193 3_________________________ Long tons 332,180 510,321 516, 795 513, 276 540, 732 421,814 643,944 720,380 814,660 734,754 $47,838,687 53, 261,895 48, 223, 258 54, 756, 984 54, 579, 020 35,224,038 53, 670, 038 54, 367, 401 55,118,211 50,780, 583 Cents 6. 43 4. 66 4.17 4. 76 4. 51 3. 73 3. 72 3. 37 3. 02 3. 09 Long tons 331,921 510,166 516,612 513,169 540, 586 421, 792 643, 901 720, 369 814, 642 734, 753 $47, 792,602 53, 240, 480 48, 201, 883 54, 743, 032 54, 569, 764 35, 222,144 53, 667, 063 54, 366,133 55,116,975 50, 780,422 Cents 6.43 4.66 4.17 4. 76 4. 51 3. 73 3. 72 3. 37 3. 02 3. 09
1 Includes refined sugar, separately shown 1929-1933, as follows:
12 months ending June 30— - Total Shipments to United States
Quantity Value Value per pound Quantity Value Value per pound
1929—..............-...... 193 0......................... 193 1......................... 1932......—........-..... 1933.....................— Long tons 38,073 53,741 75,033 85,549 85,405 $3,892,522 6,142,744 7,427,887 7,838, 650 7,052, 652 Cents 4.56 5.10 4.42 4.09 3.69 Long tons 38,051 53,698 75,021 85,531 85,404 $3,890,628 6,139, 769 7,427, 068 7,837, 414 7,052,491 Cents 4.56 5.10 4.42 4.09 3. 69
47


48 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Coffee shipments
12 months ending June 30— Total Shipments to United States1
Quantity Value Value per pound Quantity Value Value per pound
Pounds Cents Pounds Cents
1924_________________________ 21,859,215 $4, 595,811 21.03 318,086 $71,158 22.37
1925_________________________ 23, 782,996 6, 575, 635 27.65 261,155 66,862 25.60
1926_________________________ 26, 332, 766 7,071, 407 26.85 624,045 170, 201 27.27
1927_________________________ 19,356,904 5,748,877 29.70 178,082 52,059 29. 23
1928_________________________ 7,837,800 2, 596, 872 33.13 52, 221 13, 276 25. 42
1929_________________________ 1, 278, 615 456, 831 35.73 579, 732 208,954 36.04
1930_________________________ 433,901 151,550 34.92 262,849 95,250 36.24
1931_________________________ 1,977, 659 546,438 27. 63 1,751,013 488, 711 27.91
1932...______________________ 589,602 154, 903 26. 27 544, 737 145,806 26.77
1933_________________________ 549,815 124, 542 22. 65 498, 214 115, 253 23.13
i Includes coffee for transshipment to foreign countries amounting to 259,683 pounds, valued at $94,150
in 1930, 1,535,284 pounds valued at $428,613 in 1931, 543,370 pounds valued at $145,452 in 1932, and 491,865
pounds valued at $113,639 in 1933.
Leaf-tohacco shipments
12 months ending June 30— Total Shipments to United States
Quantity Value Value per pound Quantity Value Value per pound
1924_________________________ Pounds 19,944, 653 18,002,340 20, 513, 594 26, 027,239 26, 782, 084 19,342,009 18,952, 270 19,928, 796 12,028, 566 9, 041,777 $12, 578, 448 9,156,480 13,124,643 19,496, 508 15,479, 820 11, 220, 264 10, 602,458 12,053,863 5,782,151 3,694,147 Cents 63.07 50.86 63.98 74.91 57. 80 58. 01 55.90 60.48 48. 07 40. 86 Pounds 19,834,151 17,766,033 20, 513, 594 25, 975,321 26,654,458 19, 314,160 18,928,381 19, 918, 034 11,962,866 9,039,171 $12, 557, 349 9,123, 995 13,124, 643 19,489,311 15,466,781 11, 216, 640 10, 599, 552 12,052,331 5,781,037 3, 693,765 Cents 63.31 51.36 63.98 75.03 58.03 58.07 56.00 60.51 48.32 40.86
1925_________________________
1926_________________________
1927.........................
1928_________________________
1929_________________________
1930_________________________
1931_________________________
1932_________________________
1933_________________________

Cigar shipments
12 months ending June 30— Total Shipments to United States
Quantity Value Value per thousand Quantity Value Value per thousand
Thousands Thousands
1924_________________________ 175,289 $5,460,119 $31.15 175,251 $5,458,880 $31.15
1925_________________________ 196,660 7,105, 508 36.15 196,553 7,105,313 36.15
1926_________________________ 214,546 7,196, 365 33. 54 214,546 7,196,365 33.54
1927_________________________ 160,804 4,227,576 26.29 160,804 4, 227,576 26.29
1928_________________________ 144,378 3,625,561 25.11 144, 378 3, 625,561 25.11
1929_________________________ 158,656 3,847,797 24. 26 158, 656 3,847,797 24. 26
1930_________________________ 145, 566 3,408, 721 23. 42 145,566 3,408,721 23.42
1931_________________________ 166,986 3,899, 556 23. 35 166,986 3,899, 556 23.35
1932_________________________ 122,455 2,403,532 19.63 122,455 2,403, 532 19. 63
1933_________________________ 63,044 1,284,289 20.37 63,044 1, 284, 289 20. 37


49 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Fruit shipments
12 months ending June 30— Total value Value of shipments to United States 12 months ending June 30— Total value Value of shipments to United States
1924.................... $3,807,567 4,202,840 6, 009,840 5,823,751 6, 824, 802 $3,791,735 4,187,788 5,994,464 5,792,433 6,811,908 1929..................... $2, 850, 722 7,671,617 4,884, 799 4,321,135 2, 278,991 $2,843,213 7,480, 222 4, 573, 789 4,101,617 2,188,474
1925 .................. 1930_____________________
1926.................... 1931____________________
1927____________________ 1932___________________
1928 ............... 1933____________________

Coconut shipments
12 months ending June 30— Total value Value of shipments to United States 12 months ending June 30— Total value Value of shipments to United States
1924.................... $616,484 720,189 625,989 628,196 713, 992 $605,129 709,853 611,977 612,684 697, 972 1929.................... $264,778 233, 084 232, 388 268, 708 152,055 $249,665 218,787 232,388 268, 708 152,055
1925.................... 1930....................
1926 ................... 1931 __________________
1927.................... 1932____________________
1928_......—.......... 1933____________________

Embroidery shipments 1
12 months ending June 30— Total value Value of shipments to United States 12 months ending June 30— Total value Value of shipments to United States
1924.................... $7,253,556 5,833,918 8, 336, 398 9,225,507 9,285, 790 $7,130,891 5,705,472 8,153, 506 9, 024,775 8,907,801 1929.................... $15,151,040 13,004,725 13,665,492 10, 322, 785 10, 578,366 $14, 732, 260 12, 522,359 13, 202, 423 10,261, 283 10,434,432
1925 ..................— 1930....................
1926 ................... 1931____________________
1927.................... 1932_ ...................
1928 ............. 1933.....................

1 Needlework products on cotton. All other shipments
12 months ending June 30— Total value Value of shipments to United States 12 months ending June 30— Total value Value of shipments to United States
1924 $6,129,868 7,962,479 8,136,951 8,160,035 10,428,882 $3,347,231 ~4,272,029 4,653, 531 5, 281,284 6,569,656 1929.................... $12, 707,400 10,824,012 8,837, 346 8, 045,513 6, 513,482 $8,151,156 7,105,686 6,061,666 5, 566,115 4, 738,808
1925 _ 1930....................
1926 ......... 1931____________________
1927 ............. 1932____________________
1928 .................. 1933....................



Appendix F
PUERTO RICO
bonded indebtedness
Under an act of Congress approved March 4, 1927, the insular
government of Puerto Rico and the municipalities of San Juan and
Ponce are authorized to incur public indebtedness up to 10 percent
of the aggregate tax valuation of their respective properties; other
municipalities are limited to a public indebtedness not in excess of
5 percent of their respective taxable properties. Bonds of Puerto
Rico, which are secured by an equivalent par value of bonds of munici-
pal corporations or school boards of Puerto Rico, are not to be counted
within the 10 percent limitation, but bonds issued by municipalities
or any subdivision thereof after March 4, 1927, to the payment of
which the good faith of the people of Puerto Rico is pledged, are to
be counted therein.
During the year additional bonds of the insular government of
Puerto Rico were issued with a par value of $846,000. The proceeds
from an issue of $500,000 are to be devoted to the further develop-
ment of the Toro Negro hydroelectric project, the proceeds from
two issues of $100,000 and $150,000, respectively, are for use in con-
nection with the Isabela irrigation system, and an additional $96,000
homestead bonds were disposed of locally in the island by the treasurer
of Puerto Rico, with the approval of the Governor, under the pro-
visions of Act No. 4 of the Legislature of Puerto Rico, approved
December 14, 1931.
On June 30, 1933, the aggregate assessed valuation of the real and
personal property in the island of Puerto Rico amounted to $314,-
320,074.
The following is a statement of the bonded indebtedness of the
insular government of Puerto Rico as of June 30, 1933:
Amount
Title of loan Rate Issued Outstand- ing June 30, 1933 Maturing
I Deluded in 10 percent limi- tation: Irrigation: 1913____________________ Percent 4 $1,000,000 700,000 400,000 400,000 200, 000 200,000 250,000 975,000 600,000 $1,000,000 700,000 400,000 400, 000 200, 000 200,000 250, 000 600, 000 600,000 Jan. 1,1943; redeemable after Jan. 1, 1933. $100,000 annually beginning Jan. 1, 1944. $100,000 annually beginning Jan. 1, 1951. $100,000 annually beginning Jan. 1, 1955. $100,000 annually beginning Jan. 1, 1959. $100,000 annually beginning Jan. 1, 1958. $150,000 Jan. 1,1961; $100,000 Jan. 1, 1962. $75,000 on Jan. 1 of each year beginning Jan. 1,1929; outstanding series redeem- able Jan. 1, 1939. { $75,000 annually beginning Jan. 1, 1942; redeemable Jan. 1, 1939.
1913____________________ 4
1914.................... 4
1915____________________ 4
1916____________________ 4
1918____________________ 4
1922____________________ 5
1923.._................. 4 M
1924____________________ 4 M

50


51 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Title of loan
Rate
Amount
Issued
Outstand-
ing June
30, 1933
Maturing
Included in 10 percent limi-
tation—C ontinued.
Irrigation—Continued.
1925...................
1925...................
1927..
1927..
1927...................
1929___________________
1931...................
1933...................
1933...________________
San Juan Harbor improve-
ment:
1917...................
1929...................
Public improvements:
1914...................
191 9...................
192 0...................
1922..
1923..
1923..
1926-
1927..
High school (1920).........
House construction (1920).
Workingmen's house con-
struction (1920).
Munoz Rivera Park (1924)
Target range and aviation
field (1925).
Funding (1930).............
Workmen's relief (1930)____
Hydroelectric system:
1931....................
1932
Homestead" (1932).".
Percent
4 K
4H
4H
4M
4M
4 X
5
5
4
43 _
4^
5
5
5
4^
4 X
4 M
4H
4 H
4K
4^
4H
4H
5
4 H
Total.
Contingent liability:
Ponce (1927)_____
Do___________
Villalba (1927)....
Guaynabo (1928).
Total.
Not included in 10 percent
limitation:
Refunding (collateral):
191 4....................
191 5....................
Total________
Grand total.
$125,000
750,000
525,000
475,000
500,000
750,000
150, 000
100, 000
150, 000
100, 000
320,000
1,000,000
1, 000, 000
1, 000,000
1, 000,000
1,000,000
6, 000, 000
2,000,000
2,000,000
300, 000
250,000
500,000
200,000
200, 000
4,000,000
500,000
500,000
500, 000
166,000
$125,000
750,000
525,000
475,000
500,000
750,000
150,000
100,000
150,000
30,000
320,000
988,000
300,000
1,000,000
1, 000,000
1,000,000
6, 000, 000
2,000, 000
2, 000, 000
300,000
250,000
500,000
100,000
200,000
2,800,000
425,000
500,000
500, 000
166,000
30,786,000
28,254,000
650, 000
600,000
35,000
76, 500
600, 000
560,000
32,000
75, 500
1, 361, 500
1, 267,500
655, 000
300, 000
270, 000
18, 000
955,000
288,000
Jan. 1, 1963.
$75,000 annually beginning Jan. 1, 1950;
redeemable Jan. 1,1939.
$75,000 annually beginning Jan. 1, 1960;
redeemable Jan. 1, 1939.
$75,000 annually Jan. 1, 1967, to Jan. 1,
1972; $25,000 Jan. 1, 1973; redeemable
Jan. 1, 1939.
$100,000 annually beginning Jan. 1, 1959.
Serially July 1, 1952, to July 1, 1970.
$90,000 July 1, 1970; $60,000 July 1, 1971.
$50,000 July 1, 1971; $50,000 July 1, 1972.
$70,000 July 1, 1972; $80,000 July 1, 1973.
Jan. 1, 1942; redeemable after Jan. 1,1927.
Jan. 1, 1954; redeemable Jan. 1, 1939.
Jan. 1, 1939; redeemable after Jan. 1,1925.
Jan. 1, 1934.
$250,000 annually beginning Jan. 1, 1937;
redeemable Jan. 1, 1936.
$250,000 annually beginning Jan. 1, 1941.
$250,000 annually beginning Jan. 1, 1945;
redeemable Jan. 1, 1944.
$500,000 annually beginning July 1, 1944;
redeemable July 1, 1943.
$500,000 annually beginning July 1, 1956;
redeemable Jan. 1, 1956.
$500,000 annually beginning July 1, 1960;
redeemable Jan. 1, 1960.
Jan. 1, 1945; redeemable Jan. 1, 1930.
Jan. 1, 1945: redeemable Jan. 1, 1930.
$250,000 Jan. 1, 1941-42; redeemable Jan.
1, 1940.
$20,000 annually on Jan. 1 of each year;
outstanding series redeemable Jan. 1,
1934.
$60,000 annually beginning July 1, 1945;
redeemable July 1, 1935.
$400,000 annually beginning July 1, 1931.
$25,000 annually beginning July 1, 1931.
Jan. 1, 1951; redeemable on or after Jan.
1,1941.
Jan. 1, 1952; redeemable Jan. 1, 1942.
Jan. 1, 1952; redeemable Jan. 1, 1942.
Serially July 1, 1930, to July 1, 1959.
Serially July 1, 1932, to July 1,1961.
Serially July 1,1931, to July 1, 1956.
Serially July 1, 1933, to July 1,1965.
Serially July 1, 1923, to July 1, 1953.
Serially July 1, 1919, to July 1, 1935.
33,102,500
29,809, 500
In preparing the above statement, insular bonds to the face value
of $520,000 and municipal bonds (under contingent liability) to the
face value of $32,000, which were due and pa}^able on July 1, 1933,
have been deducted, funds therefor having been transferred to the
fiscal agents during June 1933.


52 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Bonds issued through Bureau of Insular Affairs during year ending
June 30, 1933:
Title of loan Authority for issue Rate Amount Price re- ceived Dated Due
Hydroelectric sys- tem, series B.1 Isabela irrigation, series T to U. Isabela irrigation, series U to V.2 P.R. Act No. 7, Apr. 6, 1931. P.R. Act No. 8, July 12,1932. J.Res. No. 12, July 3, 1929. J.Res. No. 12, July 3, 1929. P.R. Act No. 26, Apr. 28, 1933. 5 6 5 $500,000 100,000 150,000 100.69 100.117 100. 79 Jan. 1,1932 Jan. 1,1933 July 1,1933 Jan. 1, 1952; redeem- able Jan. 1,1942. July 1, 1971-72. July 1, 1972-73.
1 Delivered to purchaser on Nov. 28,1932.
2 Were issued under date of July 1,1933, but have been included as a part of the outstanding debt of Puerto-
Rico, as of June 30,1933, said bonds having been sold and delivered to the purchasers on the latter date.
MUNICIPAL BONDED INDEBTEDNESS
At the close of the fiscal year 1932-33 the outstanding municipal
bonded indebtedness, distributed among 69 municipalities of Puerto
Rico, was $16,017,900, against the payment of which there had been
accumulated in their respective sinking funds the sum of $2,110,523.95.
Municipal bonds aggregating $874,600 were redeemed during the
year, thus reducing the municipal bonded indebtedness of the island
by that sum, as no additional municipal bonds were issued during said
period.
RECEIPTS AND DISBURSEMENTS
Comparative statement of receipts and disbursements of Puerto Rico, fiscal years 19Slr
1982, and 1938
Fiscal year ending June 30—
1931' 1932 1933
Balance from prior years..------------------------------ Revenues: Customs_______________ _____________________________ $401,877.91 $553,026. 85 $874, 422. 06-
1,110,000. 00 9, 070, 829. 79 421,404.87 451,962.90 2, 250, 000.00 9,813,914. 43 248,139. 23 350, 306.10 2,035, 000.00 6, 807, 355. 67 140,706. 52 391,296.03
Internal_________________________ __________________
United States internal revenues______________________ Miscellaneous_____________________ ______________ .
Total revenues . ________________________________
11,054,197. 56 12,662, 359. 76 9, 374, 358. 22
Other receipts: Repayment of loans_________________________________ Repayment, bureau of supplies______________________ Other repayments...... ........................... Transfers from trust funds--------------------------- Temporary loans, advance of taxes___________________
» 33, 000. 00 1, 748,695. 21 151, 206.42 118,818. 61 23,000. 00 1,860,166. 92 151, 585. 77 446, 536. 57 13, 500.00 1, 002,433.93 146, 745. 76 622,106.15 1,250,000.00
Bond issue . _______ 3, 405, 381. 54
Miscellaneous_______________________________________ 91, 039. 35 25, 230.00
Total other receipts......-......................... Total..............................................
5, 457,101. 78 2, 572, 328.61 3,060,015.84
16,913,177.25 15,787, 715. 22 13,308,796.12
Expenditures: Legislative ____________________________ _______
206,472. 59 1, 909, 579. 60 304,070. 60 421,922.98
Executive: Governor . . ____________
Governor and secretary________________ ________ 118,971. 78 500,881.15 1,070,987.18 100, 241. 42 340,358.77 678, 482. 36
Attorney general.. ___________________________ Treasurer__________________________________ ____ 450, 694. 48 624, 741.02
1 Includes earthquake-mortgage loans to municipalities and school boards.


53 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
Comparative statement of receipts and disbursements of Puerto Rico, fiscal years 1931,
1932, and 1933—Continued
Fiscal year ending June 30—
1931 1932 1933
Expenditures—Continued. Executive—Continued. Interior: Roads and bridges— _ _ __________ $490,121.87 77,679. 96 214, 380. 63 257,032. 61 4,045, 517. 09 111, 930. 06 502, 362. 70 $478, 493. 70 159,292.04 214,011.84 256,855.70 4,117,110. 77 128,843. 36 $443,115. 65 68,133. 74 190, 577.35 212,411. 32 3, 508,303.95 109, 545. 77
Public buildings______„______________________
Insular telegraph___________________________
Other expenses..........................— Education: Public schools_______________________________
Other'expenses_____________________________ Agriculture and labor___________________________
Agriculture and commerce_______ ______________ 521,849. 30 152, 622. 49 1, 511,303.93 166, 360. 48 976, 025.80 48, 974.87 17,473.43 2, 097, 581.17 707, 706. 52 767,933.67 352, 989.16 127,982.42 1, 014, 643. 74 138, 592. 41 827, 841. 21 44, 045. 72 20, 998. 25 1,127, 539.37 826, 477. 64 626, 097.32
Labor___________________________________________
Health ________________________________________ 1, 271, 750. 54 167,909. 22 919,145. 09 42,401. 95 15, 773.00 00 3, 653, 710. 84 743, 993.80
Auditor._ __ _________________________________
Insular police___________________________________
Public-service commission_______________________
Civil service commission_________________________
Bureau of supplies, printing, and transportation___ Other expenses__________________________________ Judicial________ _ _________________ ______________
Total expenses.. ________________________________
15, 705,197.05 14,317, 349. 78 11,180, 300. 55
Other payments: Transfers to trust funds.............................
621,953. 35 33,000. 00 572,943. 38 23, 000.00 1,513,489. 43 13,500. 00
Municipal and school-board bonds................... Total other payments__________ _______________
654, 953.35 553,026.85 595, 943. 38 874,422.06 1, 526,989.43 601, 506.14
Cash balance _____________ ____ _____________
Total_____________________________________________
16,913,177. 25 15, 787, 715. 22 13, 308, 796.12

2 Included in expenditures of Governor for 1931.
REVENUE AND OTHER RECEIPTS
[Data taken from Annual Report of the Auditor of Puerto Rico, 1932-33]
The following tabulation shows the revenue and other receipts for
the year classified according to the sources from which they were
derived:
Customs_________________________________________________$2, 035, 000. 00
United States internal revenue____________________________________________________________140, 706. 52
Property taxes, insular proportion______________________________________________________313, 792. 02
Property taxes, proportion of the university tax------------------------------2, 893. 93
Excise taxes_________________________________________________________________________4, 979, 290. 46
Inheritance taxes______________1------------------------------------------------------31, 384. 96
Telephone and telegraph receipts--------------------------------------------------------112, 724. 76
Court fees and fines______________________________________________________________________________'22, 552. 76
Harbor and dock fees____________________________________________________________________________49, 153. 89
Interest____________________________________________________________________________________________________71, 236. 32
Income tax_____________________^__________________________________________________1, 479, 994. 30
Miscellaneous__________________________________________________________________________________________135, 628. 30
Total____________________________-_________________ 9, 374, 358. 22
Cash on hand July 1, 1932_________________________________ 874, 422. 06
Total______________________________________________ 10, 248, 780. 28


54 REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS â– 
STATEMENT OF INSULAR REVENUE RECEIPTS FOR CERTAIN YEARS
[Data taken from Annual Reports of Treasurer of Puerto Rico]
For purpose of comparison, there are set forth below, the amounts
of insular revenue received for the first full year of American
occupancy, 1900-1901, and for each of the last 10 years:
Fiscal year: Receipts
1900-1901_______$2,357,232.36
1923-2 4__________________9, 198, 385. 83
1924-2 5__________________8, 532, 741. 27
1925-2 6__________________11,773,953.87
1926-2 7__________________11, 358, 824. 50
1927-2 8__________________12, 446, 219. 13
Fiscal year—Continued. Receipts
1928-2 9________$11, 004, 138. 52
1929-3 0________________9, 614, 246. 64
1930-3 1________________11, 054, 197. 56
1931-3 2________________12, 662, 359. 76
1932-3 3________________9, 374, 358. 22
THE BUDGET
The following sums for the current expenses of the government of
Puerto Rico were appropriated in the annual appropriation acts for
each of the last 10 years:
1924-2 5_______________$11,735,000
1925-2 6______________________________10, 417, 000
1926-2 7______________________________10, 450, 000
1927-2 8______________________________10, 440, 000
1928-2 9______________________________10, 968, 000
1929-3 0_______________$10,499,000
1930-3 1______________________________10, 174, 154
1931-3 2______________________________11, 285, 245
1932-3 3______________________________10, 287, 835
1933-3 4______________________________9, 007, 018
Note.—Figures for 1924-25 to 1929-30 were obtained from governor's report
for 1928-29, page 35. Subsequent figures have been obtained from Laws of
Puerto Rico. Figures for 1933-34 are net, after deductions specifically ordered in
the act.
ASSESSED VALUATION OF PROPERTY
[Data taken from Annual Reports of Treasurer of Puerto Rico]
The following statement shows the total assessed valuation of real
and personal property in Puerto Rico, for taxable purposes, for the
years stated:
1901-02______________ $96,428,306 1929-30______________$330,274,020
1926-2 7______________ 338, 089, 889 1930-31 _ _____________ 331, 205, 535
1927-2 8______________ 341, 370, 654 1931-32______________ 324, 309, 117
1928-2 9______________ 344, 865, 104 1932-33______________ 314, 320, 074


REPORT OF CHIEF OF BUREAU OF INSULAR AFFAIRS 55
Schedules of assets and liabilities as of June 30, 1933
[Data taken from exhibit 2-A, Annual Report of Auditor of Puerto Rico, 1932-33]
Current year (1932-33) Previous year (1931-32) Difference
ASSETS Land and equipment_______________________________ ____ $51,604,480.95 8, 772,884. 41 1,286,793. 75 2,133,771.33 1,160.00 10,763, 376. 63 150.00 164,217.87 114,410.96 2,255,594.24 $50,975,798.35 9, 589, 506. 81 1,370, 527. 80 1,135, 899.52 2,498.00 8,835,205. 27 5,375. 00 152,123.17 130,796. 74 2,145,749. 62 $628, 682. 60 i 816,622.40 i 83,734. 05 997,871.81 i 1, 338.00 1,928,171. 36 i 5,225. 00 12,094.70 i 16, 385. 78 109,844. 62
Cash-...................................-................
Sinking Funds _ _ _ . . _
Trust fund reserves..____________________________ ______
Notes receivable__________________________________________
Accounts receivable. ________________________________- -
Loans to municipalities_____________________________ --
Other deferred assets_____________________________________
Deferred debits_________________________________________
University of Puerto Rico________________________________
Total...............................................
77,096,840.14 74,343,480. 28 » 2,753,359. 86
LIABILITIES Notes payable____________________________________________
1,173,494.54 4,164,803.07 13, 544,494. 50 7,051.88 2,460,578.59 28,542,000.00 (715,418. 57) 2,093, 211.98 2,255,594.24 2,980,721.09 20,590,308.82 379,494. 54 4,193, 348. 38 11, 662,172. 27 796.86 1,804,301.02 28,761,000. 00 (580,262. 68) 1,930,629.92 2,145,749.62 2,816,776. 20 21, 229,474.15 794,000.00 i 28, 545. 31 1, 882, 322. 23 6,255.02 656, 277. 57 i 219,000. 00 i 135,155.89 162, 582.06 109,844. 62 163,944. 89 i 639,165. 33
Accounts payable._____________________________________
Trust fund liabilities_____________________________________
Deferred liabilities___________________________________-____
Deferred credits... ______________________________________
Bonded indebtedness__________ __________________ - — -
Surplus, Isabela irrigation service......................... Surplus, hydroelectric projects____________________________
Trustees, University of Puerto Rico...................... Surplus, Guayama irrigation service...................... The people of Puerto Rico................................ Total........................................-.....
77,096,840.14 74,343,480.28 1 2, 753, 359.86

i Decrease in fiscal year 1932-33.


Appendix G
DOMINICAN REPUBLIC
dominican customs receivership
The following table shows the financial transactions of the receiver-
ship during the fiscal (calendar) year ended December 31, 1932:
Statement of the customs service, Dominican Republic, year ended Dec. 81, 1932
RECEIPTS
Balance from Dec. 31, 1931_________________________________ $58, 359. 54
Gross collections___________________________________________ 2, 772, 357. 38
Miscellaneous receipts______________________________________ 391, 54.4. 06
Provisional receipts, pending cancelation as of Dec. 31, 1932----- 36, 841. 00
Total_______________________________________________ 3, 259, 101. 98
EXPENDITURES
Customs expense______________________________________________________________________________________126, 219. 70
Sinking fund payments__________________________________________________________________________50, 000. 00
Interest on bonds______________________________________________________________________________________457, 242. 60
Paid to the national treasurer, net balance of pilot fees collected
from Jan. 1 to Nov. 30,1932__________________________________39, 868. 12
Paid for account of the Dominican Government, as per special
authority______________________________________________________________________________________________11, 048. 04
Taken by the special emergency agent of the Dominican Govern-
ment, from January to December 1932_______________________ 2, 455, 478. 00
Exchange on funds transmitted------------------------------------------------------------1, 954. 90
Accrued liability fund----------------------------------------------------------------------------1, 457. 22
5 percent building fund disbursements___________^------------------------17. 24
5 percent convention account disbursements--------------------------------------9, 828. 77
Refund of duties collected in excess______________________________________________________1, 149. 51
Personal fees refunded----------------------------------------------------------------------------8, 498. 25
Provisional receipts pending cancelation on Dec. 31, 1931, canceled
during 1932____________________________________________________________________________________________58, 858. 00
Balances on hand Dec. 31, 1932:
Accrued liability fund____________________________________________________________________4, 935. 28
5 percent convention account________________________________________________________1, 569. 68
$6,700,000 loan 1922, interest account________________________________________13, 944. 54
In transit from deputy receivers__________________________________________________17, 032. 13
Total_______________________________________________ 3, 259, 101. 98
56
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ANNUA L REPORT S WA R DEPARTMEN T ANNUA L REPOR T O F TH E CHIE F O F TH E BUREA U O F INSULA R AFFAIR S 193 3 H B 325. 3 849,95 0

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ANNUA L REPORTS . WA R DEPARTMEN T FISCA L YEA R ENDE D JUN E 30 , 193 3 ANNUA L REPOR T O F TH E CHIE F O F TH E BUREA U O F INSULA R AFFAIR S 193 3 UNITE D STATE S GOVERNMEN T PRINTIN G OFFIC E WASHINGTO N : 193 3 Fo r sal e b y th e Superintenden t o f Documents , Washington , D.C . Pric e 5 cent s

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ANNUA L REPOR T O F TH E CHIEF , BUREA U O F INSULA R AFFAIR S WA R DEPARTMENT , BUREA U O F INSULA R AFFAIRS , August 22, 1933 Th e SECRETAR Y O F WA R SIR : I hav e th e hono r t o submi t th e followin g repor t o f th e Burea u o f Insula r Affair s fo r th e fisca l yea r endin g Jun e 30 , 1933 . PERIOD S T O WHIC H TH E SEVERA L SECTION S O F TH E REPOR T PERTAI N I n th e Philippin e Island s th e fisca l yea r i s identical wit h th e calenda r year . Th e Philippin e sectio n o f thi s report , bein g base d largel y upo n th e lates t annua l repor t o f th e Governo r Genera l an d th e statistica l dat a pertainin g thereto , reflects , i n general , th e operation s o f th e Philippin e governmen t fo r th e calenda r an d fiscal yea r endin g Decem be r 31 , 1932 . I n certai n cases , howeve r (specificall y indicate d i n th e text) , th e Bureau' s repor t regardin g Philippin e affair s als o include s matte r pertainin g t o th e perio d Januar y 1 t o Jun e 30 , 1933 . I n Puert o Ric o th e fisca l yea r correspond s t o tha t o f th e Unite d State s Governmen t (Jul y 1-Jun e 30) , an d th e perio d covered , i n general , b y thi s repor t i s fro m Jul y 1 , 1932 , t o Jun e 30 , 1933 . A s regard s th e Dominica n custom s receivership , th e account s an d statistic s ar e base d upo n th e calenda r year , an d th e perio d t o whic h th e presen t repor t speciall y pertain s is , accordingly , Januar y 1 t o Decembe r 31 , 1932 . TH E PHILIPPIN E ISLAND S CONGRESSIONA L CONSIDERATIO N O F PHILIPPIN E QUESTION S Upo n th e reconvenin g o f th e Seventy-secon d Congres s i n Decembe r 1932 , th e Senate , i n conformit y wit h it s resolutio n adopte d Jul y 1 , 1932 , resume d consideratio n o f bil l H.R . 7233 , "T o enabl e th e peopl e o f th e Philippin e Island s t o adop t a constitutio n an d for m a govern men t fo r th e Philippin e Islands , t o provid e fo r th e independenc e o f th e same , an d fo r othe r purposes. " Tha t bill , know n a s th e Har e bill , passe d th e Hous e o f Representative s o n Apri l 4 , 1932 , b y a vot e o f 30 6 t o 47 ; wa s referre d t o th e Senat e o n Apri l 5 , 1932 , an d reporte d ou t 1 Thi s repor t i s date d a s o f th e dat e o f relie f fro m dut y i n th e Burea u o f Insula r Affair s o f th e office r signin g it . Th e actua l submissio n o f th e repor t wa s necessaril y delaye d unti l a late r date , pendin g receip t a t th e Burea u o f Insula r Affair s o f th e annua l report s upo n whic h i t i s partl y based . 1

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2 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • o f committe e o n Apri l 26 , 1932 , wit h a n amendmen t substitutin g fo r th e tex t o f th e Har e bil l tha t o f Senat e bil l S . 3377 , know n a s th e Hawes-Cuttin g bill . Durin g th e discussion s whic h ensue d o n th e floor o f th e Senate , th e bil l wa s furthe r amende d an d o n Decembe r 17 , 1932 , wa s passe d b y tha t bod y withou t a recor d vote . Th e bil l wa s the n referre d t o a conferenc e committe e o f bot h House s whic h cam e t o a n agreemen t o n th e substanc e an d submitte d it s report . Th e repor t wa s adopte d b y th e Senat e o n Decembe r 22 , withou t a recor d vote , an d b y th e Hous e o n Decembe r 2 9 b y a vot e o f 17 1 t o 16 . Th e Presiden t returne d th e measur e thu s agree d upo n b y th e tw o Houses , withou t hi s approva l o n Januar y 13 , 1933 , accompanie d b y a vet o messag e (H.Doc . No . 524 , 72 d Cong. ) settin g fort h th e reason s upo n whic h hi s actio n wa s based . Th e bil l wa s repasse d ove r th e President' s vet o b y th e Hous e o n Januar y 13 , 193 3 (th e vot e bein g 27 4 t o 94 ) an d b y th e Senat e o n Januar y 17 , 193 3 (th e vot e bein g 6 6 t o 26 ) an d becam e Publi c No . 311 , Seventy-secon d Congress . Throughou t th e entir e perio d o f th e consideratio n o f th e bil l b y th e Congress , th e the n Secretar y o f Wa r an d th e Chie f o f thi s Burea u recommende d agains t th e enactmen t o f th e measure . Th e principa l feature s o f th e propose d legislatio n t o whic h exceptio n wa s thu s taken , an d th e consideratio n upo n whic h th e objection s wer e based , hav e bee n se t fort h i n correspondence , statements , an d hearing s tha t ar e o f publi c record . The y are , therefore , no t reproduce d i n thi s report . Th e concludin g sectio n o f th e bil l read s a s follows : SEC . 17 . Th e foregoin g provision s o f thi s ac t shal l no t tak e effec t unti l accepte d b y concurren t resolutio n o f th e Philippin e Legislatur e o r b y a conventio n calle d fo r th e purpos e o f passin g upo n tha t questio n a s ma y b e provide d b y th e Philippin e Legislature . Th e measure , a s enacted , include s provision s agains t whic h objectio n ha s bee n voice d b y certai n o f th e Filipin o leader s an d othe r element s o f th e insula r population . Th e Philippin e Legislatur e me t i n regula r sessio n o n Jul y 17 , 1933 , an d it s subsequen t proceeding s hav e bee n devote d chiefl y t o animate d discussion s o f question s suc h a s th e complet e acceptanc e o f th e ac t b y th e legislature , acceptanc e accom panie d b y reservations , rejectio n o f th e provisions , o r resor t t o a procedur e whic h woul d permi t o f a mor e direc t expressio n o f th e popula r wil l respectin g th e question s a t issue . U p t o Octobe r 1 0 n o definit e actio n ha d bee n take n b y th e legislature . Appendice s A an d B t o thi s repor t lis t certai n act s o f Congres s enacte d durin g th e secon d sessio n o f th e Seventy-secon d Congres s an d th e firs t sessio n o f th e Seventy-thir d Congress , th e provision s o f whic h hav e mor e o r les s applicatio n t o th e Philippin e Islands . Th e exten t t o whic h thos e island s wil l b e affecte d b y th e variou s law s enacte d durin g th e first sessio n o f th e Seventy-thir d Congress , wit h especia l vie w t o promotin g agricultura l an d industria l recover y an d adjustmen t i n th e continenta l Unite d States , canno t a s ye t b e full y determined . Th e measure s i n questio n wer e presumabl y no t formulate d wit h primar y regar d t o th e need s o f th e Philippin e Island s no r t o th e condition s obtainin g there ; an d th e wordin g i n certai n cases , take n i n connectio n wit h tha t o f sectio n 1 0 o f th e Organi c Ac t o f th e Philippin e Islands , i s suc h a s t o sugges t doub t a s t o whethe r th e direc t operation , i n th e Philippin e Islands , o f som e o f th e

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3 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • provision s was , o r wa s not , contemplate d b y th e Congress . Philippin e fiscal , trade , an d othe r relation s wit h th e Unite d State s are , however , suc h tha t th e economi c lif e o f th e island s ca n hardl y fai l t o b e affecte d i n importan t way s b y th e operation , withi n th e continenta l Unite d States , o f th e severa l law s i n question . Th e condition s unde r whic h th e principa l Philippin e product s ca n b e markete d i n th e continenta l Unite d State s constitut e a facto r o f suprem e importanc e a s regard s th e economi c welfar e o f th e island s an d th e indication s ar e tha t thos e condition s ma y b e affecte d i n materia l degre e b y th e operatio n o f recen t legislation , th e detaile d result s o f whic h ar e no t ye t full y determinable . Wit h respec t t o th e Agricultura l Adjustmen t Act , approve d Ma y 12 , 1933 , th e Secretar y o f Agricultur e ha s advise d th e Secretar y o f Wa r tha t th e ac t i s no t directl y applicabl e i n whol e o r i n par t t o th e Philippin e Islands . Th e compensatin g ta x o n import s int o th e continenta l Unite d States , prescribe d b y sectio n 1 5 (e ) o f th e ac t (an d equa l i n amoun t t o th e correspondin g processin g ta x levie d o n domes ti c production ) i s no w bein g applie d t o certai n product s importe d fro m th e Philippin e Island s an d th e ac t ma y thu s hav e ultimat e ma teria l effect s upo n th e Philippine-America n trade . Th e Nationa l Recover y Administrato r likewis e ha s advise d th e Wa r Departmen t t o th e genera l effec t tha t i t i s no t planne d t o exten d t o th e Philippin e Island s th e President' s reemploymen t agreement , du e t o th e differen t hour s o f labo r an d wag e rate s whic h obtai n i n th e continenta l Unite d State s an d th e islands , respectively . Th e Ad ministrato r has , however , expresse d th e vie w tha t sectio n 3 (a ) o f th e Nationa l Recover y Act , governin g code s o f fai r competition , ha s cer tai n applicatio n t o th e islands . Widel y differin g condition s i n th e tw o case s woul d apparentl y mak e inappropriat e th e regulatio n o f Philippin e industrie s upo n th e sam e basi s a s ma y b e suitabl e t o th e need s o f th e continenta l Unite d States . Thi s fac t tend s t o confir m th e wisdo m o f th e provisio n (sec . 5 ) o f th e Philippin e organi c act , whic h prescribe s that , i n general , statutor y law s enacte d fo r th e Unite d State s shal l no t b e operativ e i n th e Philippin e Island s unles s Congres s expressl y s o directs . PHILIPPIN E MISSION S T O TH E UNITE D STATE S Th e Committe e o f th e Philippin e Legislatur e whic h cam e t o th e Unite d State s i n Januar y 1932 , remaine d i n thi s countr y throughou t th e reces s betwee n th e first an d secon d session s o f th e Seventy-secon d Congres s an d wa s joine d earl y i n Decembe r b y Senato r Benign o Aquino, wh o cam e a s a specia l envo y o f th e Philippin e Legislatur e i n vie w o f th e absenc e fro m th e missio n i n th e Unite d State s o f th e Hon . Manue l L . Quezo n (who m il l healt h ha d prevente d fro m accompanyin g th e committee) , an d t o presen t th e view s o f th e legislatur e o n th e Philippin e legislatio n the n pendin g befor e th e Congress . Senato r Aquin o returne d t o th e Philippin e Island s i n February . Subsequen t t o th e passag e o f th e Philippin e Independenc e Ac t (Pub. , No . 311 , 72 d Cong.) , a so-calle d "mixe d mission " heade d b y th e Hon . Manue l L . Quezon , cam e t o th e Unite d States . Thi s mixe d mission ' consiste d o f representative s o f th e Philippin e Legislature , th e pro vincia l governors , th e Philippin e press , labor , an d suga r an d othe r agricultura l interests , an d represente d th e Independenc e Commis

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4 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • sion , a bod y th e membershi p o f whic h i s compose d o f th e member s o f th e Philippin e Legislature , bu t whic h i s t o b e distinguishe d fro m th e legislativ e committe e mentione d above . Th e expresse d purpos e o f sendin g Senat e Presiden t Quezon , wit h hi s party , t o th e Unite d State s a t thi s tim e was , i n th e languag e o f th e resolutio n adopte d b y th e Com missio n o f Independenc e i n a meetin g hel d i n Manil a i n Februar y 1933 , i n orde r tha t h e ma y infor m himsel f fro m th e missio n an d othe r source s o f th e situatio n obtainin g i n th e Unite d State s an d thu s th e Filipin o peopl e an d thei r representative s ma y th e bette r b e acquainte d wit h al l th e fact s an d circumstance s befor e thi s ac t i s submitte d fo r acceptanc e eithe r t o th e legislatur e o r t o th e con ventio n calle d fo r th e purpose . Th e missio n referre d t o i n th e resolutio n wa s th e Committe e o f th e Philippin e Legislatur e the n i n th e Unite d State s an d th e ac t referre d t o wa s Public , No . 311 , enacte d b y th e Congres s o n Januar y 17 , 1933 . Senat e Presiden t Quezo n accordingl y arrive d i n Washington , accom panie d b y th e so-calle d "mixe d mission " o n Apri l 24 , 1933 . H e remaine d onl y a fe w days . O n departin g o n Apri l 28 , 1933 , h e issue d a statemen t t o th e pres s i n which , amon g othe r things , h e state d hi s convictio n that , "th e Philippin e questio n i s close d a s fa r a s th e Gov ernmen t o f th e Unite d State s i s concerne d unti l th e Philippin e Legis latur e act s * * * " Th e othe r member s o f bot h th e committe e o f th e legislatur e an d th e mixe d missio n lef t th e Unite d State s fo r th e Philippin e Island s at , o r about , th e sam e tim e a s Senat e Presiden t Quezo n an d arrive d i n Manil a prio r t o th e openin g o f th e regula r sessio n o f th e Philippin e Legislatur e o n Jul y 17 , 1933 . GENERA L CONDITION S Whil e indication s ha d pointe d t o th e probabilit y tha t th e Philippin e Island s woul d no t escap e a reflectio n o f th e economi c depressio n apparen t i n th e continenta l Unite d State s an d i n man y othe r part s o f th e worl d i n lat e 192 9 an d i n 1930 , th e effect s wer e firs t severel y fel t i n th e interna l affair s o f th e Island s i n 1931 . Th e downwar d tren d i n th e price s obtainabl e fo r Philippin e expor t product s i n th e world' s markets , whic h ha d seriou s economi c consequence s i n th e Island s i n 193 1 continue d throughou t 1932 . Th e secretar y o f financ e state s i n tha t connection : Th e declin e o f th e genera l economi c an d busines s condition s o f th e Island s fo r th e (calendar ) yea r 193 2 a s compare d wit h thos e o f th e previou s yea r ma y b e gleane d fro m th e percentag e o f increas e o r decreas e o f th e followin g importan t busines s indices : Averag e ban k debit s t o individua l account s ha s (sic ) decrease d b y 2 4 percent ; averag e ban k loans , discount s an d overdrafts , b y 6.2 6 percent; : averag e monetar y circulation , b y 12.2 1 percent ; tota l corporat e investments , b y 7.7 0 percent ; tota l foreig n trade , b y 13.9 9 percent ; tota l gros s sales , b y 23.4 2 percent ; averag e wholesal e prices , b y 17.1 4 percent ; tota l freigh t loading s i n tons ha s (sic ) increase d b y 17.1 5 percent ; tota l steamshi p freigh t i n tons , b y 3.4 4 per cent ; tota l agricultura l production , b y 10.3 2 percent ; and , tota l buildin g construc tions , b y 3.2 4 percent . Whil e unemploymen t an d curtaile d income s d o no t entail , i n tropica ] an d agricultura l region s suc h a s th e Philippines , th e sam e degre e o f physica l sufferin g experienced , unde r simila r circumstances , i n industria l countries , th e situatio n i n th e island s cause d som e unres t an d emphasize d disconten t previousl y presen t i n certai n localitie s an d element s o f th e population . Ther e wer e n o resultin g widesprea d

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5 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • disorder s o r seriou s outbreaks ; bu t th e accentuatio n o f certai n un satisfactor y conditions , havin g thei r origi n i n long-existin g feature s o f th e islands ' socia l an d economi c systems , an d affectin g particularl y tenan t farmin g i n th e province s o f centra l Luzon , le d t o som e demon stration s reflectin g threat s agains t publi c order . Th e condition s i n questio n receive d th e attentio n o f th e loca l Legislatur e an d law s wer e enacte d wit h a vie w t o removin g th e cause s o f discontent . Th e mos t seriou s breac h o f th e peac e occurre d i n th e Sul u Province , where , dissatisfie d ove r th e convictio n o f a Mor o chieftai n fo r murder , hi s follower s attacke d a detachmen t o f th e Philippin e Constabulary , killin g a n office r an d 1 3 enliste d men . I n th e ensuin g pursui t o f th e Moro s b y th e constabular y an d th e resistanc e o f th e forme r t o arrest , 3 mor e member s o f th e constabular y los t thei r live s an d 1 1 wer e wounded . Thirty-fiv e o f th e fugitive s wer e kille d an d a n unknow n numbe r wounded . Th e typhoo n whic h visite d th e Sul u Archipelag o o n Apri l 29 , 1932 , too k a tol l o f 17 5 live s an d cause d propert y damag e estimate d a t abou t $2,500,000 . A fir e destroye d a sectio n o f th e walle d cit y o f Manil a o n Augus t 13 , includin g th e building s whic h house d th e burea u o f publi c work s an d th e genera l lan d registratio n office , an d valuabl e governmen t record s wer e destroyed . POLIC Y O F TH E GOVERNO R GENERA L A t th e tim e o f th e assumptio n o f offic e b y Governo r Genera l Theodor e Roosevelt , earl y i n 1932 , advanc e evidence s o f th e mor e stringen t economi c situatio n whic h wa s t o prevai l i n th e island s late r i n th e yea r wer e alread y beginnin g t o manifes t themselves . Th e Governo r Genera l addresse d himsel f wit h vigo r an d initiativ e t o th e tas k o f solvin g th e problem s confrontin g th e government . I n hi s repor t o f hi s perio d o f offic e h e state s a s follow s regardin g th e genera l progra m o f adjustmen t undertaken : Actin g i n th e closes t an d mos t harmoniou s cooperation , th e legislatur e an d th e executiv e me t thi s situatio n fairly . W e reorganize d th e governmen t o n line s o f econom y an d efficiency . W e revise d th e ta x laws . W e institute d a protectiv e tariff . W e dismisse d al l possibl e personnel . An d w e cu t th e salarie s o f al l employee s fro m 5 t o 2 0 percent . * * * A t th e sam e time , o f course , positiv e actio n ha d t o b e take n t o develo p an d foste r industrie s i n orde r t o la y a broade r bas e fo r prosperit y i n th e future . Beside s this , particula r attentio n ha d t o b e give n t o th e welfar e o f th e smal l man , fo r i t i s h e o n who m th e effect s o f a crisi s alway s bea r dow n wit h particula r force . O f course , whil e doin g this , th e grea t function s o f government—healt h an d primar y education—ha d t o b e maintained . Certai n o f th e detaile d step s take n t o promot e th e indicate d progra m ar e hereafte r mentione d unde r appropriat e headings . TH E PHILIPPIN E LEGISLATUR E Th e secon d sessio n o f th e Nint h Philippin e Legislatur e convene d o n Jul y 16 , 1932 , an d adjourne d o n Novembe r 8 , 1932 . Th e Governo r Genera l calle d th e Senat e i n specia l executiv e sessio n fro m Novembe r 1 1 t o 1 4 t o conside r th e larg e numbe r o f appointment s incidenta l t o governmenta l reorganization . A specia l sessio n o f th e legislatur e wa s calle d o n Decembe r 7 , 1932 , but , pursuan t t o a concurren t resolutio n adopte d b y tha t body , th e Governo r Genera l suspende d th e sessio n t o giv e th e member s o f th e legislativ e committee s addi

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6 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • tiona l tim e t o stud y th e measure s presente d fo r consideration . A secon d specia l sessio n wa s calle d o n Januar y 16 , 1933 , which , a t th e en d o f th e lega l 10-da y period , wa s extende d t o Januar y 31 . Thes e session s wer e marke d b y th e passag e o f variou s importan t measure s directe d t o enablin g th e Philippin e economi c structur e t o mee t th e situatio n cause d b y th e depressio n affectin g a larg e par t o f th e world . Th e bill s passe d numbere d 191 , o f whic h 14 6 wer e approve d an d 4 5 vetoe d b y th e Governo r General . On e bil l wa s vetoe d b y th e Presi den t o f th e Unite d States . Amon g th e mor e importan t measure s enacte d an d approve d wer e act s reorganizin g th e departments , bureaus , an d office s o f th e insula r government ; a ne w assessmen t law ; a n ac t imposin g heavie r penaltie s fo r violation s o f th e usur y law ; law s regulatin g th e relationship s o f landowner s an d tenants ; severa l law s i n th e interes t o f labor ; a la w t o encourag e an d protec t th e fishin g industry ; severa l law s amendin g th e tarif f la w wit h a vie w t o protectin g an d promotin g Philippin e industrie s a s follows : Ac t No . 4034 , t o protec t th e Philippin e Island s i n th e matte r o f importation s fro m foreig n countrie s havin g depreciate d currencie s (th e Parit y Law) . Ac t No . 4035 , t o preven t "dumping. " Ac t No . 4036 , t o remov e th e previousl y existin g prohibitio n agains t th e levyin g o f dutie s o f mor e tha n 10 0 percen t a d valorem . Ac t No . 4037 , imposin g increase d dutie s t o protec t th e meat , lard , an d eg g industrie s o f th e Philippin e Islands . Ac t No . 4038 , increasin g th e rate s o f dut y o n boot s an d shoes . Ac t No . 4053 , a genera l tarif f revisio n act . Ac t No . 4064 , t o increas e th e rate s o f dut y o n cinchon a bar k an d derivatives . Th e genera l authorit y delegate d b y Congres s t o th e Philippin e Legislature , unde r sectio n 1 0 o f th e Organi c Act , t o mak e an d amen d th e tarif f law s o f th e island s (excep t a s regard s trad e relation s wit h th e Unite d States) , i s limite d b y provision s containe d i n th e sam e section , t o th e effec t tha t suc h legislatio n shal l becom e effectiv e onl y wit h th e prio r approva l o f th e Presiden t o f th e Unite d States . Eac h o f th e act s jus t liste d receive d th e President' s approval . According t o a n opinio n rendere d b y th e Attorne y Genera l o f th e Unite d States , certai n o f th e provision s o f Ac t No . 405 3 extende d t o matter s beyon d th e scop e o f th e authorit y delegate d b y Congres s t o th e Philippin e Legislature . Th e Attorne y Genera l stated , i n effect , however , tha t thes e particula r provision s wer e separabl e fro m th e remainde r o f th e act , an d tha t presidentia l approva l o f th e ac t a s a whol e woul d no t operat e t o giv e lega l effec t t o th e provision s i n question . Th e followin g acts , als o containin g provision s th e lega l effec t o f whic h wa s contingen t upo n th e prio r approva l o f th e Presiden t o f th e Unite d States , receive d tha t approval : Ac t No . 4041 , a n ac t t o ced e th e usufruc t o f certai n fisheries locate d o n lan d o f th e publi c domai n t o a neighborin g municipality . Ac t No . 4043 , a n ac t t o authoriz e th e filing o f certai n lan d claims . Bil l H . No . 2602 , t o increas e th e immigratio n hea d ta x i n th e Philippin e Islands , wa s forwarde d fo r th e President' s actio n but , bein g disapprove d b y him , faile d t o becom e law .

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7 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • GOVERNMEN T REORGANIZATIO N Successiv e Governor ^ Genera l hav e commente d upo n th e desira bilit y o f suc h reorganizatio n o f insula r governmenta l agencie s a s woul d operat e t o eliminat e certai n overlappin g o f iunction s an d t o overcom e a tendenc y towar d th e overstaffin g o f publi c office s whic h ha d becom e eviden t wit h th e growt h o f th e governmenta l structur e an d th e extensio n o f administrativ e services . Ac t No . 4007 , enacte d durin g th e las t regula r sessio n o f th e legislature , wa s directe d t o securin g increase d efficienc y i n governmen t a t les s expens e t o th e peopl e o f th e islands . Th e act , whic h doe s no t purpor t t o chang e th e fundamenta l structur e o f th e government , contemplates , a s on e feature , th e groupin g togethe r unde r th e sam e departmen t head , o f thos e administrativ e agencie s charge d wit h simila r o r closel y allie d functions , thu s tendin g t o centraliz e contro l an d operatio n o f relate d services . Th e numbe r o f executiv e department s remain s unchanged ; bu t th e designation s o f th e severa l department s an d th e distributio n o f function s hav e bee n modifie d i n certai n respects . Th e si x depart ment s formerl y existin g were : Th e departmen t o f publi c instruction , th e departmen t o f th e interior , th e departmen t o f finance, th e depart men t o f justice , th e departmen t o f agricultur e an d natura l resources , an d th e departmen t o f commerc e an d communications . Th e ne w departmenta l designation s are : Th e departmen t o f publi c instruction , th e departmen t o f finance, th e departmen t o f justice , th e departmen t o f agricultur e an d commerce , th e departmen t o f publi c work s an d communications , an d th e departmen t o f interio r an d labor . Governo r Genera l Roosevel t estimate d tha t th e reduction s i n per sonne l unde r th e reorganizatio n woul d aggregat e approximatel y 2,000 , o r 1 0 percent . I n orde r t o ameliorat e th e hardship s attendan t upo n thes e separation s fro m th e publi c servic e a t a tim e whe n oppor tunitie s fo r reemploymen t woul d b e mor e limite d tha n usual , pro visio n wa s mad e (i n Ac t No . 4051 ) fo r th e paymen t t o thos e release d unde r th e reorganizatio n o f gratuitie s representin g a month' s pa y fo r eac h yea r o f servic e u p t o 24 . Question s hav e bee n raise d regardin g th e expedienc y o r lega l validit y o f certai n o f th e provision s include d i n Ac t No . 4007 , an d th e ultimat e ne t results , administrativ e an d economic, o f th e practica l operatio n o f th e ac t hav e no t ye t bee n full y demonstrated . i FINANC E Th e tota l receipt s an d expenditure s fo r th e fiscal (an d calendar ) yea r 193 2 ar e show n i n appendi x D . Th e tota l revenue s fro m ordinar y sources , a s show n i n th e annua l repor t o f th e secretar y o f finance fo r th e yea r 1932 , amoun t t o $28,295,158 , a decreas e o f $4,586,16 5 (abou t 1 6 percent ) fro m 1931 . Th e decreas e reflects , i n th e main , th e fallin g of f o f revenu e collections , traceabl e t o th e genera l busines s depressio n existin g throughou t th e Islands . A s durin g th e precedin g year , th e greates t declin e wa s i n th e sales-ta x receipts , an d th e rat e o f declin e fro m th e 193 1 receipt s equale d tha t o f 193 1 fro m 193 0 (2 3 percent) . Income-ta x receipt s decline d 1 2 percent , a s compare d wit h 1 0 percen t fo r th e precedin g year . Prio r t o Decembe r 21 , 1932 , th e dat e whe n variou s o f th e amendment s t o th e tarif f ac t becam e effective , ther e wa s a sligh t increas e i n custom s receipt s due , i n larg e measure , t o rathe r 16380—3 3 2

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8 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • heav y importation s fro m foreig n countries , no t improbabl y i n antici patio n o f highe r duties . Th e tota l ordinar y expenditure s amounte d t o $32,860,824 , a de creas e fro m th e precedin g yea r o f $5,349,925 , o r abou t 1 6 percent . On e o f th e importan t measure s o f econom y resultin g i n decrease d expenditure s wa s th e exercis e b y th e Governo r Genera l o f th e power , previousl y grante d b y th e genera l appropriatio n ac t i n anticipatio n o f th e possibilit y tha t actua l revenue s migh t fal l belo w advanc e esti mates , t o reduce , whe n necessary , th e appropriation s authorize d b y no t mor e tha n 1 0 percen t o f th e amoun t thereof . Th e curren t genera l fun d surplu s a s o f Decembe r 31 , 1932 , wa s $14,295,333 , a decreas e o f $2,247,70 3 fro m th e correspondin g balanc e o n Decembe r 31 , 1931 . O f tha t amount , th e repor t o f th e secretar y o f financ e indicate s tha t approximatel y $1,295,00 0 represente d cas h actuall y availabl e an d unobligate d a s o f Decembe r 31 , 1932 . Durin g th e yea r th e capita l surplu s wa s diminishe d b y th e transfe r o f $3,208,93 2 fro m tha t surplu s t o th e curren t surplus , specia l fund . Th e Governo r Genera l commend s speciall y i n hi s repor t th e spiri t o f cooperatio n show n b y official s o f th e executiv e an d legislativ e branche s o f th e Governmen t i n givin g effec t t o measure s o f econom y tha t enable d th e insula r governmen t t o clos e th e yea r i n soun d financia l condition . Th e fac t tha t th e bank s o f th e Philippin g Island s continued , durin g th e acut e bankin g crisi s tha t culminate d shortl y subsequen t t o th e perio d actuall y covere d b y th e report , t o functio n normally , excep t a s regard s restriction s impose d b y th e Federa l authoritie s wit h referenc e t o transaction s involvin g gol d an d exchang e transaction s beyon d th e Islands , reflect s mos t creditabl e achievement . Speakin g o f th e bankin g situation , th e secretar y o f finance , i n hi s annua l report , says : Th e genera l busines s o f bank s an d trus t companie s durin g th e yea r unde r revie w showe d a marke d improvemen t ove r tha t o f 1931 . Th e increas e i n thei r tota l resource s b y F9,559,16 3 ($4,775,082) , i n spit e o f th e world-wid e economi c disturb ance , i s a n indicatio n o f a n attitud e o f continue d confidenc e i n thes e institution s b y th e peopl e o f thi s country . Bonded indebtedness. —During th e fisca l (an d calendar ) yea r 1932 , n o additiona l Philippin e Governmen t bond s wer e issued . Durin g th e sam e perio d $2,256,00 0 o f insula r bond s an d $238,00 0 o f provincia l an d municipa l bond s wer e canceled , makin g a reductio n i n th e tota l outstandin g bonde d indebtednes s o f th e Philippin e Island s o f $2,494, 00 0 fo r th e yea r 1932 . O n Decembe r 31 , 1932 , th e tota l outstandin g bonde d indebtednes s o f th e Philippin e Islands , consistin g o f $64,463, 50 0 insula r an d $9,128,50 0 provincia l an d municipa l bonds , amounte d t o $73,592,000 . I f fro m thi s tota l ther e b e deducte d collatera l bond s wit h a fac e valu e o f $6,509,50 0 issue d agains t provincia l an d municipa l bond s $1,600,14 6 i n cas h an d $12,787,23 6 i n investment s an d securitie s accummulate d i n th e variou s sinkin g funds , th e resultin g ne t balanc e o f insula r bonde d indebtednes s a s o f Decembe r 31 , 1932 , wil l b e $52,69(5fll8 . I n appendi x D o f thi s report , th e statemen t o f th e bonde d indebted nes s i s carrie d forwar d t o Jun e 30 , 1933 . Th e amoun t o f th e out standin g indebtednes s i s wel l withi n th e limit s provide d b y law , an d th e prescribe d sinkin g fund s ar e full y maintaine d fo r al l outstandin g bonds .

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9 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Deposits of Philippine public funds in the United States. —During th e entir e perio d o f th e bankin g crisi s tha t culminate d i n th e temporar y genera l closin g o f bank s throughou t th e Unite d State s earl y i n Marc h 1933 , ther e wer e maintaine d i n bankin g institution s o f th e Federa l Reserv e Syste m larg e deposit s o f Philippin e publi c funds . Thes e deposits , consisting , i n th e main , o f reserv e fund s o f th e Philippin e monetar y syste m (gol d standar d fun d an d treasur y certificat e fund) , include d als o othe r publi c fund s incidenta l t o th e effectin g o f purchase s -o f supplie s an d th e transactio n o f Philippin e governmenta l busines s i n th e continenta l Unite d States . Th e tota l o f th e deposit s i n recen t year s ha s neve r falle n muc h belo w $60,000,00 0 an d ha s frequentl y bee n muc h abov e tha t figure. Durin g th e las t 6 month s o f th e cal enda r yea r 1932 , th e tota l average d abou t $60,000,00 0 and , durin g th e first hal f o f 1933 , abov e $62,000,000 . Durin g th e sam e perio d th e tota l numbe r o f depositorie s distribute d throughou t th e Unite d State s average d ove r 50 . Unde r th e law s o f th e Philippin e Govern ment , th e placin g an d supervisio n o f thes e deposit s i n th e Unite d State s i s entruste d t o th e Secretar y o f War , unde r whos e contro l an d directio n th e detaile d transaction s ar e handle d throug h thi s Bureau . Th e genera l syste m ha s bee n i n effec t fo r man y years , durin g whic h n o los s ha s eve r bee n charge d off , whil e th e interes t receive d fro m th e deposit s ha s constitute d a n importan t sourc e o f incom e fo r th e Governmen t o f th e Philippin e Islands . A s o f Februar y 28 , 1933 , th e tota l o f thes e deposit s wa s $61,739,971 . Wit h th e exception s state d below , al l o f th e depositorie s here , sub sequen t t o th e so-calle d "ban k holiday " o f earl y Marc h 1933 , eithe r repai d thei r respectiv e deposit s i n ful l (includin g interes t thereon ) o r hav e bee n reopene d o n a n unrestricte d operatin g basi s wit h th e approva l o f th e Secretar y o f th e Treasury . A s o f Septembe r 30 , 1933 , th e tota l o f unsatisfie d outstandin g claim s o n accoun t o f th e deposit s wa s $68,977 , representin g tw o claim s o f $2,551.6 7 an d $66,425.56 , respectively . Fund s hav e alread y bee n mad e availabl e t o satisf y th e smalle r claim , bu t hav e no t ye t actuall y bee n receive d an d credited . Th e large r clai m pertain s t o a nationa l bank , th e affair s o f whic h hav e bee n i n cours e o f liquidatio n b y a receive r appointe d prio r t o 1933 . Th e clai m represent s abou t 1 3 per cen t o f th e origina l deposi t and , a s n o dividend s hav e ye t bee n dis burse d b y th e receiver , th e ultimat e complet e liquidatio n o f thi s ac coun t i s expected . Th e origina l deposi t wa s supporte d b y collatera l consistin g o f bond s o f th e Governmen t o f th e Philippin e Island s o f th e sam e pa r valu e a s th e deposi t but , a t th e tim e th e ban k wa s take n ove r b y th e receiver , th e marke t valu e o f th e bond s wa s somewha t unde r par . Bond s o f th e Philippin e Governmen t ar e receive d a t pa r valu e b y th e Unite d State s Treasur y a s collatera l t o secur e deposit s o f Unite d State s funds . On e othe r depositor y havin g a deposi t o f $1,000,00 0 di d no t reope n subsequen t t o th e ban k holida y ; bu t th e deposi t (supporte d b y bond s o f th e Unite d State s an d Philippin e Governments , o f combine d pa r valu e equa l t o th e tota l deposit ) wa s take n ove r b y a nationa l ban k operatin g wit h th e approva l o f th e Secretar y o f th e Treasury , o n a n unrestricte d basis . Durin g th e yea r Jul y 1 , 1932 , t o Jun e 30,1933 , ther e wa s credite d t o th e governmen t o f th e Philippin e Islands , a s interes t o n Philippin e governmenta l deposit s i n th e Unite d States , handle d throug h th e

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1 0 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Wa r Department , a tota l o f $1,407,046.44 , a n amoun t wel l belo w th e annua l averag e receive d i n recen t years . I t wil l b e noted, , therefore , tha t th e presen t tota l o f unsatisfie d outstandin g claim s ($68,977) , al l o f whic h i s expecte d t o b e paid , represent s les s tha n 5 percen t o f th e interes t receive d b y th e Philippin e governmen t o n deposit s handled , throug h th e Wa r Department , i n th e Unite d States , durin g th e yea r mentione d above . Government-owned companies .—The ne t incom e o f th e Philippin e Nationa l Ban k amounte d t o $906,33 5 a s compare d wit h $327,50 9 i n 1931 . Th e suga r central s controlle d b y th e Philippin e Nationa l Ban k reduce d thei r indebtednes s t o th e ban k b y $1,513,391 , leavin g a balanc e o f $8,496,05 3 du e a t th e en d o f th e year . Th e Manil a Railroa d Co. , whic h ha d bee n sufferin g befor e th e depressio n fro m th e competitio n o f moto r transportation , close d th e yea r showin g a los s o f $48,688 . Th e Ceb u Cemen t Co . i s reporte d t o hav e ende d th e yea r i n soun d financia l condition . Provincial and municipal governments. —It becam e eviden t earl y i n th e yea r that , wit h th e declinin g price s fo r Philippin e produce , land owner s wer e goin g t o hav e difficult y i n payin g thei r taxes . Th e Gov erno r Genera l twic e extende d th e perio d withi n whic h th e taxe s migh t b e pai d withou t penalty . A n activ e campaig n t o induc e taxpayer s t o pay thei r taxe s wa s initiated . Nevertheles s th e tota l o f th e taxe s accruin g t o th e provincia l treasuries , amountin g t o $20,707,827 , wa s $583,89 4 les s tha n fo r th e precedin g year . A ne w assessmen t la w wa s enacte d durin g th e regula r sessio n o f th e legislatur e (Ac t No . 3995 , approve d Dec . 5 , 1932 ) an d incorporate d a numbe r o f feature s de signe d t o facilitat e th e paymen t o f th e lan d taxes . Th e revaluatio n o f propertie s whic h ha s bee n i n progres s fo r severa l year s continued . A t th e en d o f th e yea r th e tota l valu e o f taxabl e propert y i n th e 4 0 organize d province s amounte d t o $768,451,39 3 ($1,744,57 8 mor e tha n fo r th e precedin g year ) an d i n th e 9 speciall y organize d province s t o $53,719,52 5 ($565,22 6 mor e tha n fo r th e pre cedin g year) , makin g a tota l o f $822,170,91 8 fo r th e provinces . Bot h th e charte r citie s o f Manil a an d Bagui o enjoye d health y financial condition s durin g th e yea r unde r review . Th e cit y o f Manil a found itsel f wit h a n unencumbere d surplu s a t th e en d o f th e year , mad e possibl e b y th e stringen t polic y o f econom y followe d i n th e administratio n o f th e governmen t o f th e city . EXTERNA L TRAD E Th e tota l externa l trad e o f th e Philippin e Island s wit h th e Unite d State s an d foreig n countrie s decline d t o $174,733,166 , a decreas e o f $28,417,627 , o r 13. 9 percent , fro m 1931 . Thi s bring s th e tota l declin e i n Philippin e externa l trad e sinc e 192 9 t o 4 4 percent . Export s amounte d t o $95,338,081 , a decreas e o f 8. 3 percent ; import s amounte d t o $79,395,085 , a decreas e o f 19. 9 percent . Th e balanc e o f trad e i n favo r o f th e island s increase d fro m $4,793,35 5 fo r 193 1 t o $15,942,99 6 fo r 1932 . A s usua l thi s favorabl e balanc e o f trad e wa s du e t o th e ver y larg e favorabl e balanc e wit h th e Unite d States , whic h i n 193 2 amounte d t o $31,350,117 . Th e trad e o f th e island s wit h th e Unite d State s amounte d t o $133, 945,61 7 ( a decreas e o f 8 percent) , representin g 7 7 percen t o f th e tota l

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11 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • externa l trad e a s compare d with . 7 2 percen t i n 1931 . Import s fro m th e Unite d State s amounte d t o $51,297,76 0 ( a decreas e o f 1 7 percen t fro m th e precedin g year ) an d represente d 6 5 percen t o f th e tota l a s compare d wit h 6 3 percen t i n 1931 . Export s t o th e Unite d State s amounte d t o $82,647,86 7 ( a decreas e o f 1 percent) , constitutin g 8 7 percen t o f th e tota l exports . Th e correspondin g proportio n i n 193 1 wa s 8 0 percent . Th e Unite d State s wa s th e mai n sourc e o f al l o f th e principa l Philippin e imports . Cotto n goods , representin g 2 1 percen t i n valu e o f th e tota l Philippin e imports , continue d t o b e th e larges t singl e impor t ite m an d wa s th e onl y on e t o registe r a n increas e ove r 1931 . Th e proportio n o f cotto n good s comin g fro m th e Unite d State s ros e fro m on e hal f t o thre e fifths . Th e shar e o f th e Unite d State s i n furnishin g th e othe r mai n import s range d fro m almos t thre e fifth s o f th e mea t an d dair y product s t o practicall y al l o f th e automobile s an d tobacc o products . Thi s countr y supplante d Japa n a s th e chie f sourc e o f manufacture d silk s (natura l an d artificial) , furnishin g 3 8 percen t a s compare d wit h 2 3 percen t i n 1931 . Suga r constitute d 6 3 percen t o f th e tota l expor t trad e o f th e islands , a s compare d wit h 4 8 percen t i n 1931 . Th e quantit y shippe d ros e fro m 741,03 6 lon g ton s value d a t $49,963,10 5 t o 1,000,50 6 lon g ton s value d a t $59,801,885 , practicall y al l o f whic h cam e t o th e Unite d States . Embroideries , th e onl y othe r commodit y whic h showe d a n increase , found it s marke t almos t exclusivel y i n th e Unite d States . Th e Unite d State s too k practicall y al l o f th e coconu t oil , al l o f th e desiccate d coconut , on e hal f o f th e tobacc o products , an d thre e fifth s o f bot h th e copr a an d cordage . Japa n wa s th e chie f custome r fo r abac a (manil a hemp ) an d lumber ; fou r fifth s o f th e copr a meal , o r cake , wen t t o Germany . Tanjf f revision. —The genera l tarif f la w i n forc e i n th e Philippin e Island s i s th e ac t o f Congres s approve d Augus t 5 , 1909 , entitle d " A n ac t t o rais e revenu e fo r th e Philippin e Island s an d fo r othe r pmrposes. " Th e Unite d State s tarif f ac t approve d th e sam e dat e establishe d practicall y reciproca l free-trad e relation s betwee n th e Unite d State s an d th e Philippines , wit h certai n restriction s (not , a t th e time , prac ticall y operative ) o n th e amount s o f sugar , rice , an d tobacc o whic h migh t b e brough t int o th e Unite d State s fre e o f duty . Thes e restric tion s wer e remove d b y th e Unite d State s Tarif f Ac t o f 1913 . Th e rate s i n th e Philippin e tarif f ac t were , therefore , i n practice , applicabl e t o Philippin e import s fro m countrie s othe r tha n th e Unite d State s and , i n general , operate d t o produc e revenu e rathe r tha n t o affor d protectio n t o Philippin e products . Th e Congres s ha s no t enacte d an y amendmen t t o th e rate s thu s fixe d i n 1909 , bu t did , i n th e Organi c Ac t o f 1916 , confe r upo n th e Philippin e Legislatur e authorit y t o enac t tarif f legislatio n fo r th e islands , subjec t t o th e approva l o f th e Presi den t o f th e Unite d States , reservin g t o th e Cong;res s th e righ t t o regulat e trad e relation s betwee n th e Philippine s an d th e Unite d States . Between , th e year s 191 6 an d 193 2 th e Philippin e Legisla tur e exercise d onl y infrequentl y th e authorit y thu s conferre d upo n it . Increase s o f dut y wer e mad e durin g tha t perio d o n rice , cement , an d cattle ; an d a n amendmen t approve d Januar y 8 , 1929 , impose d upo n sugar s an d tobacco s importe d int o th e Philippin e Island s th e sam e rate s o f dutie s a s might , fro m tim e t o time , b e impose d o n simila r importation s int o th e Unite d States . Tha t amendment , however ,

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1 2 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • operate d primaril y t o preven t th e indirec t favore d acces s t o Unite d State s markets , throug h th e Philippin e Islands , o f suga r an d tobacco ^ produce d i n foreig n countries . Referrin g t o th e resultin g situation , Governo r Genera l Roosevel t states , i n part , i n hi s annua l report : A s on e o f th e aid s i n remedyin g th e abov e conditions , w e undertoo k thi s year 1 t o reconside r carefull y ou r tariff . Th e Philippin e tarif f ha s remaine d practicall y unaltere d sinc e 1909 . Meanwhil e condition s withi n th e island s ha d change d radicall y an d thos e outsid e o f the m t o a n eve n greate r extent . Withi n th e las t 2" years , fo r example , th e vas t majorit y o f th e grea t countrie s o f th e worl d hav e gon e of f th e gol d standard . Thei r mediu m o f exchang e ha s bee n reduce d 6 0 per cen t an d mor e wit h referenc e t o th e peso . Th e resul t ha s bee n tha t foreig n com petitor s o f ou r industrie s hav e bee n abl e t o undersel l the m an d floo d ou r marke t wit h chea p product s competin g directl y wit h thos e produce d i n th e islands. Unde r th e circumstance s everyon e ha s suffered . Man y o f ou r youn g industrie s whic h wer e jus t beginnin g t o tak e hol d wer e face d wit h bankruptcy . Bu t whil e th e majorit y o f th e member s o f th e legislatur e recognize d th e genera l situatio n an d wer e i n favo r o f a n upwar d revision , th e fac t tha t the y ha d no t -previousl y deal t wit h tarif f matter s impose d a considerabl e degre e o f caution , especiall y i n th e fac e o f heav y protest s fro m foreig n element s i n th e loca l business community . I n short , whil e the y appreciate d th e necessit y fo r a change , i t wa s difficul t t o crystalliz e opinio n i n favo r o f specifi c amendments . I ha d outline d thi s situatio n i n detai l i n m y secon d messag e t o th e legislature ^ (se e appendi x no . 3) , an d I a m gratifie d t o sa y tha t th e ver y clos e cooperation : betwee n th e Governo r General' s office , th e specia l committee , an d th e legislatur e brough t result s fa r beyon d expectation . * * * Th e outcom e wa s th e enactmen t o f th e amendment s t o th e tariff ac t liste d o n pag e 6 o f thi s report . Speakin g o f Ac t No . 4053 , th e genera l tarif f revisio n act , whic h provide d fo r increase d rate s i n 70 ' ou t o f th e 30 0 paragraph s o f th e tarif f act , th e Governo r General , state s that : "Practicall y al l o f th e amendment s containe d therei n aros e fro m demand s fo r protectio n o f loca l production. " Carrying trade .—American vessel s continue d t o lea d i n th e volum e o f carg o carrie d i n th e Philippin e trade , bu t th e declin e i n th e pro portio n o f th e tota l carried , whic h bega n las t yea r wit h th e increas e i n th e Britis h an d Japanes e participation , continue d i n 1932 . Th e America n percentag e durin g th e pas t 3 year s ha s been : 1930 , 4 4 per cent ; 1931 , 3 9 percent ; 1932 , 3 4 percent . Th e correspondin g propor tion s fo r th e sam e perio d hav e bee n fo r Britis h ships , 24 , 26 , an d 2 8 percent ; an d fo r Japanes e ships , 12 , 15 , an d 1 7 percent . EDUCATIO N I n vie w o f th e handica p o f reduce d appropriations , th e yea r was > on e o f ver y satisfactor y accomplishmen t i n educationa l matters . Th e secretar y o f publi c instruction report s that — Th e publi c school s continue d operatin g i n 193 2 alon g practicall y th e sam e line s a s i n th e past , wit h adde d emphasi s o n suc h o f it s usua l majo r concer n (sic ) a s th e extensio n o f educationa l opportunitie s i n th e elementar y grades , th e pro motio n o f vocationa l educatio n a s wel l a s healt h an d physica l education , an d th e improvemen t o f instruction . Lik e th e practic e i n previou s years, , thes e activities, , undertake n wit h a vie w t o a satisfactor y realizatio n o f th e practica l end s o f public educatio n i n th e Philippines , wen t han d i n han d wit h suc h allie d effort s a s experi mentatio n an d research , teache r trainin g an d supervision , employmen t o f bette r qualifie d teachers , an d th e constructio n o f mor e schoo l buildings . Definit e emphasi s wa s place d upo n th e polic y tha t th e firs t dut y o f th e State , i n educationa l matters , relate s t o primar y educatio n fo r th e entir e populatio n o f suitabl e ages . I n orde r t o accommodate

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13 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • larg e number s o f childre n wh o woul d otherwis e hav e bee n withou t schoolin g durin g th e year , primar y teacher s wer e require d t o conduc t tw o session s dail y fo r differen t group s o f children . Th e tota l enrollmen t fo r th e schoo l yea r 1931-3 2 wa s 1,213,41 9 (fina l report ) a s compare d wit h 1,224,54 8 fo r th e schoo l yea r 1930-31 . O f thi s number , 1,135,22 1 wer e enrolle d i n th e elementar y an d 78,19 8 i n th e secondar y grades . O f th e latter , 16,83 9 wer e i n vocationa l schools , practicall y th e sam e a s fo r th e precedin g year . Th e increas e i n th e attendanc e a t agricultura l an d trad e hig h school s wa s offse t b y a decreas e i n home-economic s cours e enrollments . Community assemblies. —A matte r t o whic h Governo r Genera l Roosevel t devote d particula r attentio n durin g hi s yea r i n th e island s wa s th e fosterin g o f a systemati c pla n fo r adul t educatio n throug h th e mediu m o f a for m o f rura l conferenc e t o whic h th e nam e com munit y assemblie s ha s bee n applied . I n th e localitie s wher e the y wer e first conducted, th e assemblie s wer e greete d wit h a n interes t an d enthusias m whic h indicate d th e fulfillmen t o f a nee d i n th e lif e o f th e communities , an d th e legislatur e provide d fo r thei r continuanc e unde r th e supervisio n o f th e directo r o f educatio n i n a n ac t (No . 4046 ) whic h state s thei r objective s t o b e a s follows : 1 . T o develo p a mor e intelligen t an d enlightene d publi c opinion , especiall y amon g adults . 2 . T o infor m th e publi c regardin g subject s o f wid e interest . 3 . T o infor m th e publi c regardin g citizenshi p activities , duties , healt h problems , prope r diet , etc . 4 . T o guid e th e publi c i n improve d method s o f industry , agriculture , an d economy . HEALT H Incomplet e return s indicat e a sligh t increas e i n th e genera l deat h rat e ove r tha t fo r th e precedin g year , whic h wa s 21.3 9 pe r 1,00 0 (revise d figures). I n th e cit y o f Manila , however , th e rat e fel l fro m 25.6 1 t o 24.24 ; an d th e infan t mortalit y rat e fro m 151.5 8 t o 139.82 . Ther e wer e n o epidemic s o f consequence . Cholera , whic h i n 193 1 cause d 78 4 deaths , wa s practicall y confine d t o tw o provinces—Sama r an d Leyte—wher e 33 8 case s an d 25 1 death s wer e reported . N o case s o f smallpo x wer e reported . Decrease s i n case s reporte d o f beriberi , malaria , diphtheria , influenza , an d measles , indicat e th e succes s o f th e campaign s conducte d agains t thos e diseases . Fro m th e incom plet e report s available , a decreas e i s indicate d i n th e numbe r o f death s fro m tuberculosis , althoug h thi s diseas e remain s on e o f th e mos t seriou s problem s o f th e healt h administration . Durin g 1932 , 2,59 6 positiv e leper s wer e detecte d an d isolated ; 20 6 negative s wer e released . Th e Governo r Genera l state s i n hi s annua l report : Heretofor e chil d health , materna l hygiene , an d th e contro l o f tuberculosi s hav e bee n separate d fro m th e Philippin e Healt h Servic e an d administere d b^ y othe r entitie s o f th e insula r government . Unde r th e reorganizatio n ac t thes e agencies , togethe r wit h al l othe r healt h matters , ar e place d i n a singl e burea u o f health . Th e principa l healt h problem s o f th e Philippin e Island s are thos e concerne d wit h environmenta l sanitation , namely , chil d health , nutrition , an d th e contro l o f tuberculosi s an d leprosy . Th e wor k i n thes e field s i s goin g forwar d steadil y an d wil l b e facilitate d b y th e reorganizatio n mentione d i n th e previou s paragraph . A n increase d effor t wa s mad e t o disseminat e informatio n i n healt h an d sanitatio n throug h th e pres s an d publication s o f th e Philippin e Healt h Service , th e communit y assemblies , an d th e publi c schools .

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1 4 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Th e Unite d State s Arm y Medica l Departmen t Researc h Boar d continue d t o occup y quarter s i n th e burea u o f scienc e an d t o cooper at e wit h tha t burea u i n healt h matters . Th e Internationa l Healt h Boar d o f th e Rockefelle r Foundatio n continue d it s cooperatio n wit h th e burea u o f scienc e i n Manil a i n malari a investigations . AGRICULTUR E AN D INDUSTR Y Th e are a plante d i n 193 2 differe d onl y slightl y fro m th e precedin g year . Wit h th e exceptio n o f sugar , however , ther e wa s a declin e i n production , clu e t o advers e weathe r condition s an d plan t pests . Th e increas e o f 2 6 percen t i n centrifuga l suga r productio n wa s du e chiefl y t o improve d method s o f cultivatio n an d manufacture , a s th e increas e i n are a plante d wa s onl y abou t 1 percent . Mos t gratifyin g i s th e progres s note d i n th e campaig n agains t rinderpest , th e death s reporte d durin g 193 2 numberin g 139 , th e lowes t sinc e th e appearanc e o f th e scourg e i n th e lat e eighties . Dur in g th e las t quarte r o f th e year , n o case s wer e reported . Wit h sustaine d vigilance , i t i s hope d tha t practicall y th e complet e extir patio n o f thi s disease , whic h ha s bee n suc h a n obstacl e t o th e develop men t o f th e livestoc k industr y i n th e islands , ma y b e effecte d i n th e proximat e future . Improvemen t i n th e conditio n o f th e smal l farme r continue d t o b e a mai n subjec t o f executiv e an d legislativ e consideration . Specia l emphasi s wa s lai d o n th e encouragemen t o f diversificatio n o f agricul tura l product s an d th e productio n i n th e island s o f food s whic h ar e no w bein g importe d i n larg e quantities , suc h a s egg s an d fish . T o thes e ends , extensio n wor k b y th e departmen t o f agricultur e an d com merc e wa s expande d b y mean s o f lecture s delivere d a t communit y assemblie s an d printe d i n dialects ; participatio n i n fair s an d exhibi tions , rangin g fro m garde n da y celebration s i n th e school s t o th e firg t nationa l horticultura l exhibitio n hel d i n connectio n wit h th e annua l Manil a carnival ; an d demonstratio n truck s travelin g throug h remot e regions . B y th e en d o f th e year , 5 o f th e 1 0 rura l credi t organization s authorize d b y Ac t 3895 , approve d Novembe r 16 , 1931 , ha d bee n organize d unde r th e supervisio n o f th e Philippin e Nationa l Bank , an d 5 mor e wer e i n variou s stage s o f organization . Mean s fo r expeditin g th e occupatio n an d utilizatio n o f th e agricultura l land s o f th e publi c domai n continue d t o b e sought . Gol d bullio n wa s shippe d ou t o f th e island s t o th e valu e o f approxi matel y 5 millio n dollar s a s compare d wit h 3 } < millio n durin g 1931 . Althoug h th e water s surroundin g th e Philippin e Archipelag o aboun d i n man y varietie s o f edibl e fish , i t ha s bee n a matte r o f concer n fo r som e year s tha t th e annua l importation s o f canne d an d preserve d fis h hav e grow n t o considerabl e proportions . Experimenta l wor k ha s bee n i n progres s t o determin e th e bes t method s fo r th e loca l preser vatio n o f fish , an d survey s hav e bee n mad e o f th e fisher y resources . Ac t 4003 , approve d Decembe r 5 , 1932 , wa s enacte d fo r th e purpos e o f protectin g th e fisher y resource s an d encouragin g th e fishin g industr y wit h a vie w t o increasin g th e Philippine-produce d foo d supplies . Th e drasti c declin e i n th e marke t fo r Philippin e abac a (manil a hemp) , du e t o competitio n bot h wit h othe r material s an d wit h hem p grow n elsewhere , ha s move d th e governmen t t o undertak e t o see k ou t ne w use s fo r thi s fiber . Studie s wer e initiate d a s t o th e possibilitie s

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15 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • o f it s us e fo r sacks , bot h fo r expor t an d t o tak e th e plac e o f thos e no w bein g imported . Impetu s wa s give n t o th e movemen t t o promot e ne w industrie s an d t o broade n th e marke t i n th e island s fo r Philippine-mad e good s b y mean s o f variou s type s o f exhibits . Th e interes t evince d b y th e publi c i n a n industria l expositio n i n Manil a resulte d i n th e expositio n bein g mad e permanent . A floatin g exposition , consistin g o f a shi p carryin g Philippine-mad e article s cruise d i n remot e section s o f th e archipelag o an d arouse d interes t i n th e variou s localitie s visited . PUBLI C WORK S AN D COMMUNICATION S Durin g 193 2 ther e wa s a n increas e o f 466. 2 kilometer s (28 9 miles ) o f first-class road s an d 262. 5 kilometer s (16 3 miles ) o f second-clas s road s an d a decreas e o f 38 7 kilometer s (24 0 miles ) o f third-clas s roads , makin g a tota l o f 14,66 4 kilometer s (9,10 6 miles ) o f al l classe s o f road s i n existence . Th e ne w constructio n include d 2 7 reinforced concret e bridges . Moto r vehicle s registere d durin g 193 2 numbere d 41,585 , a s com pare d wit h 37,88 9 i n 1931 . Rule s an d regulation s fo r th e navigatio n o f civi l aircraf t wer e pro mulgate d an d airway s wer e charted . Durin g a par t o f th e year , a schedule d ai r servic e wa s operate d betwee n Manil a an d Bagui o b y a commercia l company . A notabl e advanc e i n communicatio n betwee n th e island s an d th e res t o f th e worl d wa s th e extensio n o f th e radi o telephon e service . Th e servic e betwee n Manil a an d Washingto n wa s inaugurate d o n Marc h 30 , 1933 , wit h a conversatio n betwee n th e Secretar y o f Wa r an d Actin g Governo r Genera l Holliday . A ne w radi o broadcastin g la w wa s enacted . FILIPIN O EMIGRATIO N T O TH E UNITE D STATE S AN D HAWAI I I n 1932 , fo r th e first tim e unde r America n sovereignty , departure s o f Filipino s fro m th e Unite d State s wer e i n exces s o f arrivals . Accordin g t o th e report s o f th e insula r collecto r o f customs , 3,08 8 Filipino s lef t th e Philippin e Island s fo r th e Unite d State s an d insula r possessions , o f whic h numbe r 61 8 wen t t o Hawaii . O n th e othe r hand , 12,45 1 Fili pino s arrive d i n th e Philippin e Island s fro m th e Unite d State s an d insula r possessions , 7,00 5 comin g fro m Hawaii . CHANGE S I N OFFICIA L PERSONNE L Th e followin g change s hav e occurre d amon g official s o f th e govern men t o f th e Philippin e Island s appointe d b y th e President : Gov . Gen . Theodor e Roosevel t resigned , hi s resignatio n takin g effec t Marc h 24 , 1933 . T o succee d him , th e Presiden t appointe d Hon . Fran k Murphy , o f Detroit , Mich . Governo r Genera l Murph y arrive d i n Manil a o n Jun e 15 , 1933 , an d assume d th e dutie s o f hi s offic e th e sam e day . Hon . Joh n H . Holliday , wh o ha d bee n servin g a s Vic e Governo r an d secretar y o f publi c instructio n sinc e Augus t 20 , 1932 , unde r a n a d interi m appointment , wa s reappointe d Marc h 7 , 1933 , takin g th e oat h o f offic e Marc h 8 , 1933 . O n Marc h 16 , Governo r Holliday' s 16380—3 3 3

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1 6 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • appointmen t wa s confirme d b y th e Senate . Vic e Governo r Hollida y wa s Actin g Governo r Genera l fro m Marc h 16 , th e dat e Governo r Genera l Roosevel t saile d fro m Manila , unti l Governo r Genera l Murphy' s assumptio n o f hi s offic e o n Jun e 15 , 1933 . Gen . Cree d C . Hammon d resigne d a s insula r audito r t o tak e effec t Jun e 30 , 1933 . Tw o vacancie s wer e create d o n th e suprem e cour t b y th e death , o n Ma y 2 3 o f thi s year , o f Associat e Justic e Ignaci o Villamor , an d th e resignation , effectiv e Jun e 30 , 1933 , o f Associat e Justic e Jame s A . Ostrand . PUERT O RIC O CHANGE S I N OFFICIA L PERSONNE L Th e resignatio n o f Hon . Jame s R . Beverle y a s Governo r o f Puert o Ric o becam e effectiv e o n Jun e 30 , 1933 . Hi s successor , Hon . Rober t H . Gore , appointe d Apri l 28 , 1933 , assume d th e dutie s o f offic e th e followin g day , Jul y 1 , 1933 . Hon . Lesli e A . MacLeo d qualifie d unde r hi s reappointmen t a s audito r o n Septembe r 19 , 1933 . CONGRESSIONA L CONSIDERATIO N O F PUERT O RICA N AFFAIR S I n appendi x A o f thi s repor t i s liste d certai n legislatio n o f specia l interes t t o Puert o Ric o enacte d b y th e Congres s durin g th e perio d t o whic h thi s repor t pertains . O f specia l importanc e ar e th e law s en acte d b y th e Seventy-thir d Congress , durin g it s firs t session , fo r eco nomi c rehabilitatio n o f th e Unite d States . Tha t legislation , con sidere d a s a whole , reflect s an d emphasize s a tendency , increasingl y apparen t i n recen t years , t o modif y materiall y th e basi c fiscal rela tion s whic h th e Organi c Ac t o f 191 7 an d relate d act s o f Congres s apparentl y intende d shoul d exis t betwee n Puert o Ric o an d th e Federa l Government . Unde r th e provision s o f thes e earlie r laws , th e peopl e o f Puert o Ric o wer e practicall y relieve d fro m al l contribution s (suc h a s incom e taxes , internal-revenu e taxes , an d othe r Federa l taxes ) levie d t o mee t th e expense s o f th e Federa l Government . The y thu s received , withou t expens e t o themselves , benefit s incidenta l t o thei r inclusion , a s citizens , unde r th e internationa l protectio n o f th e Unite d State s Governmen t an d th e genera l operatio n o f certai n Federa l service s suc h a s thos e o f th e State , War , Navy , Treasury , an d othe r executiv e departments . I n addition , ther e wer e mad e availabl e fo r th e expense s o f th e loca l government , an d subjec t t o appropriatio n b y th e Puert o Rica n Legislature , al l ne t proceed s o f Unite d State s custom s dutie s collecte d upo n import s enterin g th e islan d an d suc h Unite d State s internal-revenu e taxe s a s wer e pai d upo n insula r product s enterin g th e continenta l Unite d States ; an d Puert o Rica n product s ha d duty fre e acces s t o th e market s o f th e Unite d States— a featur e o f suprem e importanc e i n th e cas e o f sugar , th e principa l ite m i n th e island' s O n th e othe r hand , Puert o Ric o wa s no t ordinaril y include d i n Fed era l appropriation s applicabl e t o th e severa l State s an d organize d Territorie s contributing , throug h Federa l taxes , t o th e suppor t o f th e centra l Government ; i t wa s subjec t t o Federa l tarif f law s enacte d primaril y wit h a vie w t o condition s applicabl e i n th e continenta l Unite d States ; it s foreig n trad e wa s thu s affecte d b y tarif f law s tha t

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17 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • tende d t o brin g abou t th e importatio n o f product s o f American , a s compare d wit h foreign , industries ; an d it s entir e exterio r trad e (in cludin g tha t wit h th e Unite d States ) wa s subjec t t o certai n disadvan tage s a s regard s shippin g rate s an d facilities—th e resul t o f th e inclusio n o f th e islan d i n th e operatio n o f th e Unite d State s coastwis e shippin g laws . Subjec t t o th e relation s outline d above , th e governmen t o i Puert o Ric o had , fo r man y year s prio r t o 1928 , constitute d (wit h certai n relativel y unimportan t exceptions ) practicall y a separat e fiscal entity , th e incom e o f whic h (othe r tha n th e proceed s o f th e Unite d State s custom s dutie s an d internal-revenu e taxe s heretofor e men tioned ) wa s derived fro m loca l taxatio n an d disburse d unde r appro priation s mad e b y th e legislativ e branc h o f th e insula r government . However , followin g th e disastrou s hurrican e o f Septembe r 192 8 th e Congres s authorize d specia l appropriation s fo r hurrican e relie f i n th e for m o f bot h direc t monetar y ai d t o th e insula r governmen t an d loan s t o agriculturists . Durin g th e nex t fe w years , othe r appropria tion s fo r th e extensio n t o Puert o Ric o o f variou s Federa l service s (suc h a s agricultura l extensio n work , vocationa l education , etc. ) wer e authorized . I n 193 2 a larg e par t o f th e islan d wa s visite d b y a secon d destructiv e hurricane . Subsequentl y ther e hav e bee n mad e applicabl e t o Puert o Ric o variou s law s o f Congres s authorizing , o r apparentl y contemplating , o n th e on e hand , increase d Federa l appro priation s fo r varie d purpose s i n Puert o Ric o and , o n th e othe r hand , imposin g certai n Federa l taxatio n collectibl e i n th e island—fo r example , th e processin g ta x prescribe d i n th e Agricultura l Adjust men t Ac t o f Ma y 12 , 1933 . I n appendi x B ar e liste d certai n measure s o f specia l interes t t o Puert o Ric o whic h wer e considere d durin g th e secon d sessio n o f th e Seventy-secon d Congres s an d th e first sessio n o f th e Seventy-thir d Congress , bu t whic h wer e no t enacted . TH E PUERT O RICA N LEGISLATUR E Thre e session s o f th e Puert o Rica n Legislatur e wer e hel d durin g th e yea r unde r revie w i n additio n t o th e thir d sessio n o f th e Twelft h Legislatur e (fro m Jun e 2 1 t o Jul y 4 , 1932 ) mentione d i n th e Bureau' s repor t o f las t year . Th e governo r calle d th e fourt h an d fifth specia l session s o f th e Twelft h Legislatur e fo r th e period s Octobe r 18-2 1 an d Novembe r 11-16 , respectively , t o conside r mean s fo r relie f an d rehabilitatio n necessitate d b y th e hurrican e o f Septembe r 26-27 . Th e first regula r sessio n o f th e Thirteent h Legislatur e convene d o n Februar y 13 , 1933 , an d adjourne d o n Apri l 15 , 1933 . Amon g th e mor e importan t measure s enacte d durin g thes e thre e session s wer e acts : Authorizin g th e contractin g o f loan s fro m th e Reconstructio n Financ e Corporatio n fo r relie f an d rehabilitation ; regulatin g bank s an d bankin g i n Puert o Rico ; creatin g a committe e t o ac t i n case s o f emergencie s i n th e bankin g situation ; providin g a pla n fo r th e reorganizatio n an d reopenin g o f close d banks ; authoriz in g th e treasure r t o borro w mone y temporaril y a s a n advanc e o f taxes ; t o promot e th e tobacc o strippin g industry ; t o provid e revenu e throug h th e levyin g o f interna l revenu e taxe s o n beer , wine , an d simila r liquors ; s o amendin g th e ac t authorizin g municipalitie s o f th e

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1 8 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • islan d t o issu e credi t certificate s a s t o permi t th e issuanc e o f suc h certificate s t o an y creditor s o f th e municipalities ; amplifyin g th e insuranc e la w s o a s t o facilitat e hurrican e insuranc e o n crop s an d plantation s b y permittin g th e renderin g o f thi s servic e b y individua l insurer s unde r th e Lloyd s plan ; requirin g al l authorization s fo r ex penditure s o f th e insula r government , no t include d i n th e regula r budge t act , t o b e groupe d i n on e appropriatio n act ; an d t o authoriz e th e commissione r o f th e interio r t o construc t fre e airports . I n reviewin g certai n measure s vetoe d b y him , th e Governo r makes , th e followin g observation : I t i s perhap s deservin g o f mentio n tha t tw o measure s wer e vetoe d becaus e o f th e fac t tha t the y attempte d t o plac e executiv e powe r i n th e hand s o f th e "econom y commission" , a legislativ e committe e se t u p eac h yea r i n th e budge t act , o r i n th e hand s o f legislators . Ther e ha s bee n a growin g tendenc y t o attemp t t o tak e awa y executiv e power s eithe r b y placin g the m wit h a legislativ e commis sione r o r b y creatin g a committe e fo r th e executio n o f a law , th e committe e t o contai n member s o f th e hous e an d senat e a s wel l a s executiv e officers . While : thi s i s perhap s a natura l tendency , i t i s contrar y t o ou r syste m o f governmen t an d mus t b e discouraged . Th e econom y commissio n mentione d abov e alread y ha s th e powe r t o interven e i n som e executiv e function s unde r previou s laws , an d althoug h suc h delegatio n o f powe r i s probabl y voi d fro m a lega l standpoint , there ha s neve r bee n a n issu e mad e o f th e matte r an d i n th e relation s betwee n th e com missio n an d th e variou s executiv e officers , ther e ha s seldo m bee n an y friction . GENERA L CONDITION S Th e yea r unde r revie w wa s on e o f mor e tha n usua l adversit y fo r Puert o Rico . Recover y fro m th e destructio n wrough t b y th e disas trou s hurrican e o f Septembe r 13 , 1928 , ha d alread y bee n retarde d b y th e effect s o f th e genera l worl d depression . Th e resultin g situatio n wa s rendere d acut e b y th e hurrican e o f Septembe r 26-27 , 1932, . which , layin g wast e approximatel y on e hal f o f th e island , ha d far reachin g effect s upo n agriculture , banking , an d governmen t finance, , an d especiall y upo n th e conditio n o f th e laborin g classes . Forty nin e o f th e seventy-seve n municipalitie s wer e affecte d i n a mor e o r les s seriou s way , an d accordin g t o th e report s o f th e Re d Cross, . 76,92 5 familie s wer e i n actua l distres s fo r a greate r o r les s perio d a s a result . Th e tota l estimate d damag e t o th e islan d reache d $35,568,345 . Death s cause d directl y b y th e stor m numbere d 257 , an d mor e tha n 4,28 0 person s wer e injured . Th e consequence s o f th e stor m woul d doubtles s hav e bee n eve n mor e seriou s bu t fo r certai n precautionar y measure s take n b y Gov erno r Beverley . A t th e beginnin g o f th e hurrican e season , h e ha d cause d th e municipalitie s t o organiz e emergenc y committee s an d t o giv e wid e publicit y t o a pla n whereb y hurrican e warning s receive d b y th e governor' s offic e woul d b e communicate d t o th e peopl e b y signa l flag s t o b e flow n fro m th e designate d building s i n eac h town . Th e Governo r expresse s th e belie f tha t th e entir e populatio n o f th e islan d wa s advise d o f th e imminenc e o f th e hurricane' s approac h befor e noo n o f Septembe r 26 . Befor e th e stor m struc k meeting s attende d b y th e adjutan t genera l o f th e Nationa l Guard , othe r governmental . personnel , an d official s o f th e Re d Cros s ha d bee n called , an d plan s ha d bee n formulate d an d instruction s issued , fo r relie f work , reestablishmen t o f communications , etc . Wherea s i n th e cas e o f th e hurrican e o f 1928 , th e Congres s o f th e Unite d States , th e Re d Cross , an d othe r officia l an d unofficia l agencie s

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19 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • o f th e continenta l Unite d State s extende d promp t an d generou s assistanc e t o promot e th e tas k o f rehabilitation , th e wide-sprea d difficul t economi c condition s prevailin g i n 193 2 tende d t o limi t th e immediat e ai d the n proffered . Th e commandin g office r o f th e Unite d State s troop s i n Puert o Ric o wa s especiall y activ e i n relie f wor k an d place d al l o f th e Arm y supplie s i n th e islan d a t th e disposa l o f th e relie f committee . I n regar d t o th e genera l situation , th e Governo r observe s that : Th e islan d ha d close d th e previou s yea r i n a fairl y goo d economi c conditio n i n spit e o f th e sever e depression , bu t durin g th e yea r unde r consideratio n condition s wer e becomin g graduall y wors e an d th e amoun t o f unemploymen t wa s increasin g slightly . Partl y a s a resul t o f th e stor m an d partl y fro m othe r conditions , th e situatio n i n th e islan d becam e progressivel y wors e fro m Septembe r 2 7 on . * * * Afte r th e hurricane , ther e wa s a spur t o f employment , bu t thi s soo n recede d an d a t th e clos e o f th e fisca l yea r unde r consideration , th e numbe r o f unemploye d wa s probabl y highe r fo r tha t tim e o f yea r tha n eve r befor e i n th e histor y o f th e island . O n Jun e 30 , th e suga r harves t i s no t ye t over , s o tha t Jun e 3 0 doe s no t fal l withi n th e perio d o f th e highes t unemployment . A grea t dea l o f employmen t i n Puert o Ric o i s seasona l an d fo r man y year s ther e ha s bee n a n abnormall y hig h percentag e o f unemploymen t i n whol e o r i n part . Th e Governo r refers , i n thi s connection , t o th e economi c significanc e o f th e populatio n problem , givin g th e estimate d populatio n a s o f Jul y 1 , 1933 , a s 1,623,814 , representin g a n averag e densit y o f 472. 7 pe r squar e mile . Durin g 193 2 birth s exceede d death s b y 30,823 . ELECTION S Th e regula r quadrennia l genera l election s fo r th e islan d wer e hel d o n Novembe r 8 , 1932 . Thi s wa s th e firs t electio n i n whic h wome n participated , an d fo r thi s a s wel l a s fo r othe r reason s unusua l interes t wa s manifested . Du e t o split s an d combination s amon g th e thre e majo r parties , partisa n feelin g wa s bitte r an d ther e wa s apprehensio n les t th e da y o f th e electio n shoul d b e marke d b y wide-sprea d disorder . Th e Governor , however , report s tha t ther e wa s les s disorde r tha n i n an y previou s electio n hel d i n Puert o Ric o an d expresse s th e vie w that , i n spit e o f charge s an d countercharge s b y th e severa l partie s an d candidates , th e election s o f 193 2 wer e th e faires t an d mos t orderl y i n th e histor y o f th e island . Th e thre e majo r partie s i n thi s electio n wer e th e Libera l (compose d largel y o f element s o f th e forme r Unio n d e Puert o Rico) , th e Unio n Republicana , an d th e Socialis t parties . Th e tw o last-name d partie s forme d a combinatio n know n popularl y (thoug h no t officially ) a s th e " Coalicio n " an d wer e generall y successful , electin g thei r candidat e fo r Residen t Commissione r t o th e Unite d States , gainin g contro l o f bot h house s o f th e legislature , an d gainin g contro l o f al l bu t 2 6 o f th e 7 7 municipalities . GENERA L FINANCIA L CONDITION S Th e fiscal yea r 1932-3 3 close d wit h a defici t o f $1,083,263.28 . Th e revenu e receipt s fo r th e yea r sho w a decreas e i n collection s o f $1,075,641.7 8 a s compare d wit h th e origina l estimat e o f th e treasure r o n whic h th e financial progra m fo r th e yea r wa s based , an d a decreas e o f $3,288,001.5 4 a s compare d wit h th e actua l collection s fo r th e fiscal yea r 1931-32 . Th e accentuatio n o f genera l economi c depressio n an d th e result s o f th e hurricane s o f Septembe r 13 , 1928 , an d Septembe r 27 , 1932 , contribute d i n marke d degre e towar d bringin g abou t th e decreas e i n ta x collections . Th e origina l estimat e o f revenu e mad e

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2 0 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • b y th e treasure r wa s $10,450,000 , whic h wa s revise d downwar d afte r th e hurrican e o f Septembe r 2 7 t o $9,288,569.66 . Actua l collection s amounte d t o $9,374,358.22 . Th e mos t seriou s dro p i n revenue s durin g th e yea r occurre d i n th e excis e taxes . Th e tota l collectio n o f excis e taxe s durin g th e yea r amounte d t o $6,299,809.0 8 a s compare d wit h collection s o f $8,047,372.9 6 fo r th e fiscal yea r 1931-32 , a decreas e o f 21. 7 percent . Ther e wa s a n increas e o f $72,663.9 6 i n th e income-ta x collection s fo r th e yea r a s compare d wit h th e amoun t collecte d i n th e fiscal yea r 1931-32 . Thi s increas e wa s du e largel y t o th e collectio n o f bac k taxes . Th e propert y taxe s collecte d i n th e fiscal yea r amounte d t o $5,682,355.45 , a decreas e o f $678,311.5 8 a s compare d wit h th e collection s o f th e fisca l yea r 1931-32 . Governo r Beverle y expresse s th e opinio n tha t th e budge t fo r th e fiscal yea r 1933-3 4 wil l b e balance d an d tha t sufficien t allowance s hav e bee n mad e t o absor b th e defici t o f th e fiscal yea r 1932-3 3 withou t th e necessit y fo r a n increas e i n th e bonde d indebtedness . Th e Governor , i n summin g u p th e situatio n i n hi s report , furthe r states , i n effect , that , whil e th e financia l result s o f th e yea r wer e disappointing , mor e favorabl e condition s ma y reasonabl y b e anticipate d i n th e relativel y proximat e future . GENERA L FUN D O F TH E INSULA R TREASUR Y Cas h receipt s an d disbursements , unde r th e genera l fund , fo r th e fiscal yea r 1932-3 3 ar e summarize d a s follow s i n th e annua l repor t o f th e audito r o f Puert o Rico : Balanc e o n han d Jul y 1 , 193 2 $874 , 422 . 0 6 Receipts : Insula r revenu e receipt s $9 , 374 , 358 . 2 2 Temporar y loan , advanc e o f taxe s 1 , 250 , 000 . 0 0 Surplus , insuranc e fun d 25 , 280 . 0 0 Tota l receipt s int o genera l fun d 10 , 649 , 588 . 2 2 Tota l genera l fun d resource s fo r th e yea r 11 , 524 , 010 . 2 8 Tota l cas h disbursement s 10 , 031 , 120 . 8 6 Transfer s t o variou s trus t fund s 891 , 383 . 2 8 Tota l disbursement s an d transfer s 10 , 922 , 504 . 1 4 Balanc e o n han d Jun e 30 , 193 3 601 , 506 . 1 4 Curren t asset s payabl e t o genera l fund : Advanc e t o Isabel a irrigatio n servic e 166 , 437 . 5 0 Advanc e t o Sant a Isabe l fun d 7 , 000 . 0 0 Tota l 173 , 437 . 5 0 Tota l curren t asset s 774 , 943 . 6 4 Tota l o f carry-ove r appropriatio n liabilitie s t o fiscal yea r 1933-34 . 1 , 858 , 206 . 9 2 Tota l defici t (exces s o f appropriatio n liabilitie s ove r resources ) fiscal yea r 1932-3 3 1 , 083 , 263 . 2 8 A t th e en d o f th e previou s fisca l yea r a surplu s o f $638,238.5 7 i n th e genera l fun d wa s show n ove r appropriatio n liabilities . Th e retrogressio n i n th e genera l fun d fo r th e fiscal yea r 1932-3 3 i s there fore : Surplu s fro m previou s yea r $638 , 238 . 5 7 Defici t fo r th e fiscal yea r endin g Jun e 30 J 193 3 1 , 083 , 263 . 2 8 Tota l 1 , 721 , 501 . 8 5

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21 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • I t shoul d b e note d tha t durin g th e fiscal yea r 1932-3 3 th e insula r treasur y wa s deprive d o f th e proceed s o f th e gasolin e ta x which , b y Ac t No . 4 0 o f Apri l 24 , 1931 , wer e diverted , beginnin g Jul y 1 , 1932 , t o th e constructio n o f municipa l roads . Th e ne t gasoline-ta x collec tion s durin g th e fiscal yea r 1932-3 3 reache d $1,006,713.08 . Notes payable .—The balanc e o f note s payabl e a s o f Jun e 30 , 1933 , amount s t o $1,173,494.54 . Th e balanc e a s o f Jun e 30 , 1932 , wa s $379,494.54 . Th e ne t chang e represent s a n increas e i n outstandin g indebtednes s unde r "Note s payable " i n th e amoun t o f $794,000 . Th e importan t item s accountin g fo r thi s increas e ar e th e Reconstructio n Financ e Corporatio n relie f loa n o f $360,000 , an d a temporar y loa n o f $1,250,00 0 contracte d a s a n advanc e o f taxe s t o mee t governmen t obligations . A t th e clos e o f busines s Jun e 30 , 1933 , $900,00 0 o f th e $1,250,00 0 loa n ha d bee n repai d an d th e remainde r wa s repai d shortl y afte r th e beginnin g o f th e ne w fiscal year . Bonded indebtedness. —The bonde d indebtednes s o f th e governmen t o f Puert o Ric o amounte d t o $28,542,00 0 o n Jun e 30 , 1933 , compare d wit h $28,761,00 0 o n Jun e 30 , 1932 . Bond s i n th e tota l amoun t o f $846,00 0 wer e issue d durin g th e year ; bond s i n th e tota l amoun t o f $1,065,00 0 wer e redeeme d durin g th e year . Th e ne t decreas e i n th e bonde d indebtednes s fo r th e yea r wa s $219,000 . Th e balanc e o f th e redemptio n fun d a s o f Jun e 30 , 1933 , wa s $1,286,793.75 , whil e o n Jun e 30 , 193 2 thes e fund s amounte d t o $1,370,527.80 , o r a decreas e fo r th e yea r o f $83,734.05 . Takin g int o consideratio n bot h bond s out standin g an d sinkin g funds , ther e i s indicate d a ne t decreas e o f $135, 265.9 5 i n th e fund s require d t o satisf y th e principa l o f th e bonde d indebtedness . Th e ne t bon d interes t charge s durin g th e yea r wer e $1,320,629.5 4 which , togethe r wit h th e amoun t o f $51,869.6 5 pai d a s interes t o n ban k loan s resulte d i n a tota l interes t cos t durin g th e fiscal yea r o f $1,372,499.19 . Thi s wa s a n increas e o f $2,275.0 7 i n th e interes t cost s fo r th e fiscal yea r 1932-3 3 a s compare d wit h th e fiscal yea r 1931-32 . Insular emergency fund. —The statu s o f th e insula r emergenc y fun d o f Jun e 3.0 , 1933 , wa s a s follows : Cas h balanc e Jun e 30 , 193 3 $123 , 668 . 3 5 Accrue d resource s (emergenc y fun d loans ) 504 , 258 . 5 1 Genera l fun d loan s 308 , 420 . 9 5 Tota l 936 , 347 . 8 1 Th e insula r emergenc y fun d a s o f Jun e 30 , 1932 , amounte d t o $1,126,336.63 , showin g a decreas e o f $189,988.8 2 fo r th e fiscal yea r 1932-33 . Financial progress. —Considering th e genera l fund , note s payable , th e bonde d indebtedness , an d th e insula r emergenc y fund , th e gov ernmen t o f Puert o Ric o show s financial retrogressio n fo r th e fiscal yea r endin g Jun e 30 , 1933 , o f $2,570,224.7 2 arrive d a t a s follows : Retrogression : Genera l fun d $1 , 721 , 501 . 8 5 Note s payabl e 794 , 000 . 0 0 Decreas e i n sinkin g fund s 83 , 734 . 0 5 Decreas e i n insula r emergenc y fun d 189 , 988 . 8 2 Tota l retrogressio n 2 , 789 , 224 . 7 2 Progress : Bonde d indebtednes s 219 , 000 . 0 0 Ne t retrogressio n 2 , 570 , 224 . 7 2

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2 2 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Furthe r dat a regardin g th e revenue s an d financia l conditio n o f th e insula r governmen t appea r i n appendi x F . Municipalities. —During th e fiscal yea r th e executiv e counci l approve d municipa l loan s t o th e exten t o f $1,571,119.37 . Th e tota l indebtednes s o f th e municipalitie s a s o f Jun e 30 , 1933 , wa s $17,861, 043.0 7 plu s interes t accrue d an d payabl e amountin g t o $38,192.52 , a tota l o f $17,899,235.59 . Thi s show s a n improvement , whe n compare d wit h th e tota l indebtednes s o f $18,922,548.91 , reporte d o n Jun e 30 , 1932 , o f $1,023,313.32 . Durin g th e yea r th e insula r treasur y wa s force d t o advanc e th e municipalitie s th e su m o f $57,910.3 4 fo r th e paymen t o f principa l an d interes t o n municipa l bond s t o preven t defaults ; reimbursement s b y th e municipalitie s u p t o Jun e 30 , 1933 , amounte d t o $48,404.32 . Thi s leave s th e ne t outstandin g tota l o f suc h advance s a t $100,762 . Othe r advances , includin g thos e mad e o n collatera l securin g munic ipa l deposits , aggregate d $72,117.82 . Th e tota l amoun t du e th e insula r governmen t fro m th e municipalities , a s o f Jun e 30 , 1933 , was , therefore , $172,879.82 . Th e tota l receipt s o f th e municipalitie s fo r th e fisca l yea r 1932-3 3 a s reporte d b y th e audito r amounte d t o $5,573,287.8 7 whil e th e dis bursement s totale d $5,931,338.10 . Th e tota l cas h balance s a s o f Jun e 30 , 1933 , amounte d t o $3,463,483.43 , a s compare d wit h $3,819, 732.6 5 o n Jun e 30 , 1932 . O f th e tota l cas h balanc e a s o f Jun e 30 , 1933 , $89,114.3 3 pertai n t o th e genera l fund s o f th e severa l munici palitie s an d $42,071.4 3 t o thei r schoo l funds . Thes e items , aggre gatin g $131,185.76 , represen t th e onl y cas h availabl e t o mee t municipa l budgetar y liabilities , th e remainin g balance s consistin g o f item s no t availabl e fo r tha t purpose . Th e ne t debt-incurrin g margi n o f th e municipalitie s a s o f Jun e 30 , 1933 , amounte d t o $2,913,704.07 , a s compare d wit h $4,411,438.6 0 a t th e clos e o f th e previou s year . I n thi s connectio n i t shoul d b e note d tha t th e debt s o f 3 6 municipalitie s ar e i n exces s o f th e respectiv e authorize d limits , th e tota l exces s bein g $1,255,547.66 , whil e eac h o f 4 0 municipalitie s stil l ha s a remainin g margin , th e tota l o f suc h margin s bein g $4,169,251.73 . Th e genera l situatio n reflecte d i n thes e figures largel y antedate d th e las t fiscal year . Durin g th e year , car e wa s exercise d b y th e executiv e council , whe n considerin g municipa l loa n ordinances , t o withhol d approva l o f loan s t o mee t payment s fo r regula r service s properl y payabl e fro m curren t receipts , excep t i n case s o f rea l emergency . Thi s precaution pre vente d th e majorit y o f municipalitie s fro m incurrin g debt s i n exces s o f thei r budgetar y appropriation s and , togethe r wit h actio n take n b y th e audito r o f Puert o Ric o t o preven t inflatio n o f incom e i n municipa l budgets , operate d a s desirabl e measure s o f supervisio n ove r municipa l finances. Banking. —During th e yea r unde r revie w a numbe r o f importan t event s occurre d wit h regar d t o th e bankin g situatio n i n th e island , th e chie f o f whic h wer e th e closin g o f th e Banc o Territoria l y Agricol a o n Septembe r 28 , 1932 , th e restricte d operation s o f bank s durin g Marc h an d A^ri l unde r Federa l an d insula r direction, an d th e openin g o f th e Banc o d e Puert o Ric o o n Ma y 15 , 1933 . Th e nationa l bankin g holida y proclaime d b y th e Presiden t o f th e Unite d State s o n Marc h 6 , 1933 , wa s extende d t o Puert o Rico . Th e governo r ha d previously , o n Marc h 4 , declare d a bankin g holida y o f

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23 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • 3 days , bu t upo n receip t o f notic e regardin g th e nationa l holiday , th e loca l proclamatio n wa s annulled . O n Marc h 9 th e governo r ordere d a n extensio n o f th e holida y an d o n th e sam e da y mad e provisio n fo r limite d operatio n o f bankin g institutions . A t th e clos e o f th e fisca l yea r al l bu t tw o o f th e loca l bank s wer e operatin g withou t restrictions . Th e governmen t fro m tim e t o tim e ha s ha d t o exten d ai d i n th e for m o f deposit s t o loca l banks , sinc e ther e i s n o connectio n betwee n loca l bank s an d th e Federa l Reserv e System . Th e governo r indicate s tha t extension s o f governmenta l ai d wer e ver y carefull y mad e an d i s believe d t o hav e constitute d a stabi lizin g influenc e o n al l loca l banks . Th e numbe r o f bank s doin g busines s i n th e islan d a t th e en d o f th e fiscal yea r wa s 1 3 wit h 1 2 branches . Al l bank s an d branche s i n th e islan d ar e unde r th e super visio n o f th e treasure r o f Puert o Rico , wit h th e exceptio n o f th e Puert o Rican agencie s o f th e Nationa l Cit y Ban k o f Ne w York . Aggregat e deposit s reporte d b y al l bank s o n Jun e 30 , 1933 , wer e $26,800,39 2 a s agains t $32,275,50 8 a t th e correspondin g dat e o f th e previou s year , a decreas e o f a littl e ove r 1 6 percent . Reconstruction Finance Corporation. —The Reconstructio n Financ e Corporatio n extende d ai d t o variou s bank s i n th e islan d throug h th e rediscoun t o f paper . Followin g th e hurrican e th e corporation , a t th e urgen t reques t o f thi s burea u an d o f th e governor , grante d a n emergenc y relie f loa n o f $360,00 0 t o th e insula r government . Appli cation s wer e als o mad e fo r self-liquidatin g loan s fo r wor k o n th e Isabel a irrigatio n syste m an d fo r th e extensio n an d completio n o f th e Tor o Negr o hydroelectri c system . A t th e clos e o f th e fiscal yea r thes e tw o loan s wer e stil l unde r consideration . Th e corporatio n als o ap prove d i n principl e a n applicatio n fro m th e cit y o f Sa n Jua n fo r th e extensio n an d completio n o f th e cit y water-suppl y syste m i n th e su m o f $1,350,000 . A t th e clos e o f th e yea r th e onl y remainin g step s t o b e take n wer e th e preparatio n o f th e prope r evidence s o f indebtednes s an d o f thei r offe r a t publi c sal e i n accordanc e wit h th e loca l law . Workmen's compensation. —Governor Beverle y report s that , i n spit e o f th e effort s durin g th e yea r t o secur e actio n b y th e loca l legislatur e t o remed y th e unsatisfactor y situatio n a s regard s th e operatio n o f th e Workmen' s Acciden t an d Compensatio n Act , n o remedia l legisla tio n wa s passed , an d th e so-calle d Stat e fun d ha s gon e stil l furthe r i n debt . EXTERNA L TRAD E Th e tota l trad e wit h th e Unite d State s an d foreig n countrie s fo r th e yea r ende d Jun e 30 , 1933 , amounte d t o $130,152,166 , a s compare d wit h $147,698,03 9 fo r th e precedin g year— a decreas e o f $17,545,873 , o r abou t 1 2 percent . Th e rat e o f declin e fo r th e precedin g yea r wa s 1 6 percent . Import s decline d b y $6,535,391 ; export s b y $11,010,483 . Th e usua l favorabl e balanc e o f trad e wa s maintained , althoug h show in g a declin e fro m $25,135,83 7 fo r 193 2 t o $20,660,74 4 fo r 193 3 (year s endin g Jun e 30) . Wit h respec t t o thi s favorabl e balance , th e governo r observe s i n hi s annua l report : Ther e exis t n o accurat e dat a o n invisibl e item s o f trad e suc h a s paymen t o f dividend s t o person s livin g outsid e thi s island , incom e fro m tourist s i n th e island , etc . Thi s informatio n woul d b e ver y valuabl e i n orde r t o sho w th e ne t resultin g situatio n o f th e islan d fo r eac h year , an d durin g th e fiscal yea r unde r consideratio n th e governo r requeste d th e Colleg e o f Busines s Administratio n o f th e Universit y o f Puert o Ric o t o undertak e t o secur e acceptabl e dat a alon g thes e lines . I t i s 16380—3 3 4

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2 4 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • hope d tha t i n th e futur e suc h informatio n wil l b e available . I t i s believe d tha t i n spit e o f th e fac t tha t Puert o Ric o ha s alway s ha d a favorabl e visibl e balanc e o f trad e sinc e 1900 , excep t i n fou r instances , nevertheles s th e tota l balanc e o f trad e ha s usuall y bee n abou t even , bu t suc h statemen t canno t b e regarde d a s base d o n anythin g mor e tha n a n intelligen t guess . Th e trad e wit h th e Continenta l Unite d State s represente d abou t 9 4 percen t o f th e tota l externa l trade . Shipment s t o th e Unite d State s comprise d 9 7 percen t o f th e tota l exports , an d shipment s fro m th e Unite d State s compose d 8 9 percen t o f th e tota l import s (appendi x E. ) A s a buye r o f goods fro m th e Unite d States , Puert o Ric o rank s firs t wit h respec t t o Sout h an d Centra l America n countries , includin g Cuba , an d eight h wit h respec t t o th e worl d a t large . Th e pe r capit a purchase s o f Puert o Ric o fro m th e Unite d State s durin g th e calenda r yea r 193 2 wer e highe r tha n th e combine d pe r capit a purchase s o f al l Centra l an d Sout h America n countries . AGRICULTUR E Grea t damag e t o crop s wa s sustaine d i n th e hurrican e are a o n th e norther n an d easter n section s o f th e island , resultin g i n reduce d pro ductio n fo r mos t crops . Thi s wa s especiall y tru e o f citru s fruit s an d pineapples , mos t o f th e cultivatio n o f whic h i s don e i n th e are a visite d b y th e storm , wher e ther e wa s a n almos t complet e los s o f crop s an d buildings . Suga r productio n i n th e hurrican e zon e i s estimate d t o hav e decline d fro m 1 5 t o 2 0 percent . Ther e wa s tremendou s los s i n th e coconu t plantation s i n th e stor m area . Th e agricultura l extensio n progra m t o whic h th e Puert o Rica n Governmen t ha s bee n devotin g specia l attentio n wa s greatl y retarde d b y th e hurricane , bot h a s th e resul t o f th e destructio n wrough t an d becaus e fund s an d personne l wer e diverte d fro m thei r norma l function s an d applie d t o relie f an d rehabilitatio n i n th e stricke n areas . Ne w far m bureau s wer e organized , specia l attentio n wa s devote d t o a campaig n fo r domesti c gardens , an d classe s i n hom e cannin g wer e started . Mor e tha n 1,00 0 acre s o f lan d wer e adde d b y purchas e t o th e Marica o Forest , bringin g th e tota l acreag e unde r th e jurisdictio n o f th e insula r fores t servic e t o 38,00 0 sprea d ove r 2 5 municipalities . Thi s i s i n additio n t o th e 15,000-acr e Federa l Reservatio n o f Luquillo . Seedling s issue d durin g th e yea r reache d th e numbe r o f 2,120,459 . Th e Puert o Rica n Hurrican e Relie f Commissio n cooperate d i n appropriatin g fo r coffe e shad e tree s an d vegetabl e seeds . Sinc e th e clos e o f th e fisca l year , th e insula r experimen t statio n ha s bee n transferre d t o th e Colleg e o f Agricultur e an d Mechani c Art s o f th e Universit y o f Puert o Rico , thi s bein g on e o f th e condition s prece den t t o th e extensio n t o Puert o Ric o o f th e Federa l agricultura l ai d legislatio n a s provide d i n th e ac t o f Congres s o f Marc h 4 , 1931 . EDUCATIO N Educationa l wor k wa s greatl y hampere d durin g th e yea r unde r revie w b y th e destructio n o f school s i n th e hurrican e area . A reor ganizatio n o f th e syste m o f secondar y education , entailin g th e eliminatio n o f th e continuatio n schools , wa s completed . I t i s believe d tha t th e existin g 2 3 hig h school s wil l b e sufficien t t o mee t th e presen t deman d fo r secondar y educatio n i n th e island . Th e tota l publi c schoo l enrollmen t fo r th e schoo l yea r 1932-3 3 amounte d t o

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25 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • *233,457 , o f whic h 109,12 8 wa s urba n an d 124,32 9 rural . Secondar y schoo l enrollmen t amounte d t o 7,295 . I n th e vocationa l agricultura l classe s 4,72 2 wer e enrolled . I n thi s wor k eac h pupi l i s expecte d t o carr y o n a far m projec t an d kee p a recor d book . I n trad e an d industria l classe s 61 2 student s wer e enrolled , o f who m 50 2 wer e i n evenin g schools . I n vocationa l hom e economic s th e tota l enrollmen t wa s 2,241 . Tota l expenditure s fo r publi c educatio n amounte d t o $5,259,411 , o f whic h $4,098,47 0 cam e fro m insula r an d $1,160,94 1 fro m municipa l funds . Schoo l lunc h room s i n operatio n durin g th e yea r numbere d 770 , o f whic h 13 1 wer e urba n an d 63 9 rural . Th e dail y averag e o f childre n serve d numbere d 29,958 ; i n th e urba n dis trict s 10,06 7 an d i n th e rura l district s 19,891 . Durin g th e yea r a syste m o f emergenc y servic e school s wa s inaugurated . Thi s syste m consiste d o f th e organizatio n o f additiona l school s wher e properl y equippe d schoolroom s wer e availabl e throug h th e acceptanc e o f fre e service s offere d b y unemploye d teachers . Thes e teacher s wer e visite d an d rate d b y th e superintendent s an d wer e give n a n advantag e o n th e waitin g list s o f th e departmen t o f education . Throug h thi s organiza tio n i t wa s possibl e t o offe r additiona l facilitie s t o 40 2 childre n wh o woul d otherwis e hav e bee n unabl e t o b e place d i n th e schools . Th e numbe r o f suc h school s functionin g durin g th e yea r wa s 10 . HEALT H Th e genera l deat h rat e fo r th e calenda r yea r 193 2 wa s 22. 3 pe r 1,00 0 populatio n a s compare d wit h 20. 4 fo r 1931 . Whil e typhoi d fever , diphtheria , malaria , an d whoopin g coug h showe d a decrease d deat h Tat e durin g th e year , a s compare d wit h 1931 , increase s wer e recorde d i n mos t o f th e remainin g importan t cause s o f death , suc h a s tubercu losis , diarrhea , enteritis , influenza , an d pneumonia . Th e proble m o f tuberculosi s i s th e mos t seriou s healt h proble m face d b y th e peopl e o f Puert o Rico ; th e proportio n o f death s fro m thi s diseas e bein g 13. 4 pe r cen t o f th e total . I n hi s annua l repor t th e Governo r o f Puert o Ric o observe s i n thi s connection : Tuberculosi s contro l i n Puert o Ric o wil l depen d upo n economi c condition s rathe r tha n upo n medica l efforts . Peopl e o n a lo w standar d o f living , crowde d int o smal l room s an d lackin g physica l reserve s becaus e o f malnutrition , ar e sur e t o becom e a n eas y pre y t o thi s disease . Th e rati o o f populatio n t o are a an d re source s an d productio n play s a n importan t rol e i n thi s question . PUBLI C WORK S Activitie s i n regar d t o publi c work s wer e confine d mainl y t o mainte nanc e an d repair . Th e emergenc y relie f loa n o f $360,00 0 grante d b y th e Reconstructio n Financ e Corporatio n o f whic h mentio n ha s bee n mad e heretofore , wa s practicall y al l administere d b y th e departmen t o f th e interio r t o effec t muc h neede d improvement s i n publi c road s an d othe r works . Sinc e th e clos e o f th e fisca l year , allocation s hav e bee n mad e o f fund s fro m th e Federa l Publi c Work s Administratio n fo r us e i n Puert o Rico . PUERT O RICA N HURRICAN E RELIE F COMMISSIO N Durin g th e fisca l yea r 193 3 th e Puert o Rican Hurrican e Relie f Commissio n continue d it s rehabilitatio n program . Th e roa d wor k o f

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2 6 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • th e commissio n wa s complete d o n Septembe r 7 , 1932 , an d th e com missio n i s no w engage d chiefl y i n administerin g loan s mad e t o rehabili tat e farm s damage d b y th e 192 8 hurricane . Th e tota l expenditure s o f th e commissio n u p t o Jun e 30 , 1933 , amoun t t o $10,002,582.20 , o f whic h $415,728.2 7 pertaine d t o th e fisca l yea r 1932-33 . DOMINICA N CUSTOM S RECEIVERSHI P Th e annua l inspectio n o f th e receivershi p wa s mad e b y Lt . Cot . Walte r C . Short , assistan t t o th e chie f o f bureau , i n Jul y 1932 . I n spit e o f th e necessit y fo r operatin g unde r a greatl y reduce d allotment, , th e receivershi p wa s foun d t o b e maintainin g a hig h degre e o f efficienc y an d th e account s wer e i n satisfactor y condition . Th e stat e o f economi c stringenc y whic h continue d t o prevai l i n th e Dominica n Republi c a s a reflectio n o f worl d conditions , wit h th e consequen t restrictio n o f buyin g powe r an d fallin g of f o f importations, , resulte d i n a declin e o f custom s collection s t o th e lowes t amoun t fo r an y yea r sinc e th e receivershi p bega n t o operat e unde r th e conventio n o f 1907 . Th e collection s amounte d t o $2,772,357 , a decreas e o f $111,11 9 fro m 1931 . Th e percentag e o f declin e (3.85 ) was , however , les s tha n tha t show n fo r th e precedin g yea r (19.78) . Thi s declin e i n custom s revenue s reduce d th e amoun t availabl e fo r operatio n o f th e receivership . However , b y institutin g an d adherin g t o sever e economies , th e receivershi p succeede d i n keepin g th e cos t o f operatio n withi n th e limit s prescribe d b y th e conventio n o f 1924 . A law . promulgate d b y th e Dominica n Governmen t Novembe r 23 , 1932 , remove s th e collectio n o f pilotag e fee s fro m th e custom s t o th e internal-revenu e administration . Suc h receipt s ar e remove d fro m th e operatio n o f th e emergenc y la w an d ar e no t groupe d wit h general , custom s receipt s availabl e eithe r fo r interes t charge s o r sinking-fun d account, bu t ar e covere d directl y int o th e Dominica n Treasury. . Th e amoun t collecte d b y th e receivershi p durin g th e 1 1 months , (January-November ) perio d unde r thi s headin g wa s $49,297 . Th e arrangemen t entere d int o i n Septembe r 1930 , unde r whic h th e receivershi p ha s bee n collectin g th e interna l revenu e o n goods passin g throug h th e custom s houses , continue d throug h 1932 . Th e amoun t o f suc h collection s fo r 193 2 totale d $1,505,757 , compare d wit h $1,652,66 9 fo r th e precedin g year . O f th e 4 percen t allotte d th e receivershi p fo r operatin g expenses , th e su m o f $12,50 0 wa s refunde d t o th e Dominica n Government . Th e emergenc y law , th e genesi s an d objective s o f whic h wer e explaine d i n detai l i n th e Bureau' s repor t o f las t year , wa s continue d i n forc e throughou t 1932 . Briefly , unde r th e term s o f thi s law , th e receipt s fro m th e thre e majo r custom s houses—Sant o Domingo, . Macoris , an d Puert o Plata—ar e diverte d fro m th e custom s adminis tratio n t o a specia l agen t o f th e Dominica n Governmen t fo r th e emergency . Afte r th e expense s o f th e receivershi p an d th e interes t o n bond s o f th e Dominica n Republi c outstandin g ar e paid , a monthl y su m ($125,000 ) i s pai d int o th e Dominica n Treasur y fo r operatin g expense s o f th e Dominica n Government . On e sinkin g fun d payment , amountin g t o $50,000 , wa s mad e i n 1932 . Th e las t complet e sinking fun d paymen t whic h ha s bee n mad e wa s tha t fo r Augus t 1931 . Th e

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27 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • perio d fo r whic h th e la w wa s enacte d t o remai n i n forc e expire s a t th e clos e o f th e yea r 1933 . I n hi s annua l repor t fo r th e yea r 1932 , th e genera l receive r o f Dominica n custom s says : * * * Wit h n o chang e fo r bettermen t i n fiscal conditions , th e necessit y fo r suc h legislatio n ha s bee n justified . Th e existin g situatio n make s i t quit e eviden t tha t ther e ca n b e n o resumptio n o f tota l sinking-fun d payment s stipulate d i n th e contrac t loa n agreements , i n th e absenc e o f wha t woul d b e a mos t remarkabl e recover y i n th e genera l economi c condition s fo r whic h a t th e presen t tim e ther e i s n o outwar d encourage ment . * * * CHANGE S I N PERSONNEL , BUREA U O F INSULA R AFFAIR S Th e detai l o f th e undersigne d a s Chie f o f th e Burea u o f Insula r Affair s expire d b y operatio n o f la w o n Januar y 8 , 1933 . However , b y directio n o f th e Secretar y o f War , th e undersigne d continue d o n duty wit h th e Burea u a s actin g chie f unti l relieve d b y Brig . Gen . Cree d F . Co x o n Augus t 22 , 1933 . Immediatel y followin g th e confirmation , i n May , o f hi s nominatio n t o b e Chie f o f th e Burea u o f Insula r Affairs , Genera l Cox , the n i n th e Territor y o f Hawaii , visite d th e Philippin e Islands . H e arrive d i n Washingto n t o assum e hi s dutie s i n th e Burea u o n Augus t 21 . F . LEJ . PARKER , Brigadier General, United States Army.

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APPENDI X A LAW S O F SPECIA L INTERES T T O TH E PHILIPPIN E ISLAND S AND PUERT O RIC O ENACTE D (a ) DURIN G TH E SECON D SESSIO N O F TH E SEVENTY-SECON D CONGRES S PHILIPPIN E ISLAND S AN D PUERT O RIC O Publi c No . 428 , Seventy-secon d Congres s (H.R . 18520) , approve d Marc h 3 , 1933 : "Makin g appropriation s fo r th e Treasur y an d Pos t Offic e Department s fo r th e fiscal yea r endin g Jun e 30 , 1934 , an d fo r othe r purposes. " Include s provisio n limitin g (wit h certai n modifications ) th e pur chas e o r us e o f manufacture d o r unmanufacture d material s fo r publi c buildings , publi c works , o r othe r publi c us e i n th e Unite d States , th e Philippin e Islands , an d Puert o Rico , t o thos e produce d o r manufac ture d i n th e Unite d State s o r an y plac e subjec t t o th e jurisdictio n thereof . TH E PHILIPPIN E ISLAND S Publi c No . 311 , Seventy-secon d Congres s (H.R . 7233) , passe d ove r th e President' s vet o b y th e Hous e Januar y 1 3 an d b y th e Senat e Januar y 17 , 1933 : "T o enabl e th e peopl e o f th e Philippin e Island s t o adop t a constitutio n an d for m a governmen t fo r th e Philippin e Islands , t o provid e fo r th e independenc e o f th e same , an d fo r othe r purposes. " Authorize s th e formulatio n b y a conventio n t o b e assemble d i n th e Philippin e Island s an d th e submissio n t o th e Presi den t o f th e Unite d States , o f a constitutio n fo r th e governmen t o f th e commonwealt h o f th e Philippin e Islands ; provides , unde r certai n conditions , fo r th e certificatio n o f th e constitutio n an d it s submissio n t o th e peopl e o f th e Philippin e Island s fo r thei r ratificatio n o r rejec tion , a vot e favorabl e t o th e constitutio n t o b e deeme d a n expressio n o f th e wil l o f th e peopl e i n th e Philippin e Island s i n favo r o f inde pendence ; include s provision s regardin g th e detail s o f th e propose d constitution , th e procedur e inciden t t o th e establishmen t an d conduc t o f th e commonwealt h governmen t thereunder , trad e an d othe r rela tion s betwee n th e Philippin e Island s an d th e Unite d States , immigra tion , th e contemplate d inauguratio n o f a n independen t governmen t o f th e Philippin e Islands , an d variou s relate d matters . Th e fina l sectio n o f th e ac t provide s tha t "th e foregoin g provisions " o f th e sam e "shal l no t tak e effec t unti l accepte d b y concurren t resolutio n o f th e Philippin e Legislatur e o r b y a conventio n calle d fo r th e pur pos e o f passin g upo n tha t questio n a s ma y b e provide d b y th e Philip pin e Legislature. " Consideratio n o f th e bil l resume d i n th e Senat e Decembe r 8 , 1932 ; i n accordanc e wit h agreemen t mad e o n Jul y 1 durin g th e first sessio n o f th e Seventy-secon d Congress . Debated : A numbe r o f amend 2 8

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29 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • ments—som e relatin g t o th e plebiscite , th e immigratio n o f Filipino s int o th e Unite d States , neutralization , an d th e limitatio n o f certai n Philippin e product s admitte d dut y free—wer e submitte d an d dis cusse d an d severa l agree d to . Bil l passe d Decembe r 17 , conferenc e repor t agree d t o b y Senat e Decembe r 22 ; Hous e Conferenc e Repor t No . 181 1 agree d t o b y Hous e Decembe r 29 ; enrolle d bil l signe d i n bot h house s Decembe r 30 ; vetoe d b y th e Presiden t Januar y 13 , 193 3 (H.Doc . 524 , 72 d Cong. , 2 d sess.) . Passe d Hous e ove r th e President' s vet o Januar y 1 3 (vote : Yeas , 274 ; nays , 94 ; no t voting , 57) . Senat e debate d th e vet o messag e Januar y 1 3 t o 17 ; passe d bil l ove r th e President' s vet o Januar y 1 7 (vote : Yeas , 66 ; nays , 26 ; no t voting , 4) . PUERT O RIC O Publi c No . 329 , Seventy-secon d Congres s (H.R . 13607) , approve d Februar y 8 , 1933 : "T o authoriz e th e distributio n o f Government owne d cotto n t o th e America n Nationa l Re d Cros s an d othe r organi zation s fo r relie f o f distress. " Applicabl e t o Puert o Rico . Publi c No . 371 , Seventy-secon d Congres s (S . 4020) , approve d Feb ruar y 24 , 1933 : "T o giv e th e Suprem e Cour t o f th e Unite d State s authorit y t o prescrib e rule s o f practic e an d procedur e wit h respec t t o proceeding s i n crimina l case s afte r verdict. " Include s th e Unite d State s Distric t Cour t o f Puert o Ric o i n it s terms . Publi c No . 419 , Seventy-secon d Congres s (H.R . 13872) , approve d Marc h 3 , 1933 : "Makin g appropriation s fo r th e Departmen t o f Agri cultur e fo r th e fiscal yea r endin g Jun e 30 , 1934 , an d fo r othe r pur poses. " Include s appropriation s fo r extendin g th e benefit s o f certai n act s o f Congres s t o Puert o Rico , fo r th e maintenanc e o f agricultura l experimen t stations , an d fo r th e protectio n o f nationa l forests . Publi c No . 430 , Seventy-secon d Congres s (S . 5337) , approve d Marc h 4 , 1933 : "T o amen d th e Federa l Far m Loa n Act , a s amended , t o permi t loan s fo r additiona l purposes , t o exten d th e power s o f Fed era l lan d bank s i n th e makin g o f direc t loans , t o authoriz e upo n certai n term s th e reamortizatio n o f loan s b y Federa l an d joint-stoc k lan d banks , an d fo r othe r purposes. " Extend s lan d ban k loan s fro m 2 0 t o 4 0 years , broaden s th e purpose s fo r whic h loan s ma y b e mad e b y Federa l lan d banks , an d otherwis e amend s th e previou s law . Publi c Resolutio n No . 51 , Seventy-secon d Congres s (H.J.Res . 597) , approve d Februar y 11 , 1933 : T o provid e appropriation s t o carr y int o effec t th e ac t approved-Februar y 8 (Publi c No . 329) . (b ) DURIN G TH E FIRS T SESSIO N O F TH E SEVENTY-THIR D CONGRES S PHILIPPIN E ISLAND S AN D PUERT O RIC O Publi c No . 1 , Seventy-thir d Congres s (H.R . 1491) , approve d Marc h 9 , 1933 : "T o provid e relie f i n th e existin g nationa l emergenc y i n banking , an d fo r othe r purposes. " Approve s an d confirm s th e ac tions , regulations , licenses , order s an d proclamation s o f th e Presiden t o r th e Secretar y o f th e Treasur y sinc e Marc h 4 , 1933 , t o remed y th e bankin g situation . Amend s th e ac t o f Octobe r 6 , 1917 , b y grantin g th e Presiden t authorit y t o regulat e transaction s i n foreig n exchang e an d th e hoardin g o f gol d o r silve r coi n o r bullio n o r currency ; impose s a fine o f $10,00 0 o r imprisonmen t fo r violatio n thereof ; modifie s th e

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3 0 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • operatio n o f th e nationa l bankin g syste m an d th e Federa l Reserv e System ; include s th e Ban k Conservatio n Ac t authorizin g th e appoint men t o f conservator s fo r close d bank s an d prescribin g rule s t o enabl e the m t o reopen ; liberalize s loan s b y amendin g certai n section s o f th e Federa l Reserv e Act ; appropriate s $2,000,000 , t o carr y ou t th e purpose s o f th e act . (B y virtu e o f th e authorit y grante d th e Presi den t unde r thi s act , a n Executiv e orde r "relatin g t o foreig n exchang e an d th e earmarkin g an d th e expor t o f gol d coi n o r bullio n o r currency " wa s issue d o n Apri l 20 , 1933. ) Publi c No . 2 , Seventy-thir d Congres s (H.R . 2820) , approve d Marc h 20 , 1933 : "T o maintai n th e credi t o f th e Unite d State s Government. " Reduce s pensio n an d othe r allowance s grante d veterans ; effect s othe r saving s b y salar y reduction s an d furlough s o f officer s an d employee s o f th e Unite d State s an d Distric t o f Columbi a governments , th e Senat e an d Hous e o f Representatives , includin g Residen t Commis sioner s fro m th e Philippin e Island s an d Puert o Rico . Publi c No . 4 , Seventy-thir d Congres s (H.R . 3757) , approve d Marc h 24 , 1933 : "T o provid e fo r direc t loan s b y Federa l reserv e bank s t o Stat e bank s an d trus t companie s i n certai n cases , an d fo r othe r purposes. " Amend s th e emergenc y bankin g ac t (Pub . No . 1 , 73 d Cong.) . Publi c No . 10 , Seventy-thir d Congres s (H.R . 3835) , Agricultura l Adjustmen t Act , approve d Ma y 12 , 1933 : "T o reliev e th e existin g nationa l economi c emergenc y b y increasin g agricultura l purchasin g power , t o rais e revenu e fo r extraordinar y expense s incurre d b y reaso n o f suc h emergency , t o provid e emergenc y relie f wit h respec t t o agri cultura l indebtedness , t o provid e fo r th e orderl y liquidatio n o f joint stoc k land-banks , an d fo r othe r purposes. " Designe d t o establis h an d maintai n balanc e betwee n th e productio n an d consumptio n o f agricultura l commodities . Authorize s cotto n optio n contracts . Con fer s o n th e Secretar y o f Agricultur e powe r t o provid e fo r reductio n i n acreag e o r productio n fo r marke t o f an y basi c agricultura l com modit y an d t o ente r int o marketin g agreement s wit h producer s an d processor s o f an y agricultura l commodity . I t plan s t o giv e certai n enumerate d basi c agricultura l commodities—wheat , cotton , fiel d corn , hogs , rice , tobacco , mil k an d it s products—th e sam e purchasin g powe r the y ha d i n th e pre-wa r period , excep t tobacc o (th e bas e perio d o f whic h i s th e postwa r period ) suc h equalit y o f purchasin g powe r t o b e approache d b y gradua l correctio n o f existin g inequalitie s a s rapidl y a s feasible . Suga r i s no t liste d a s a basi c agricultura l commodity . T o obtai n revenues , a processin g ta x i s provided , t o b e pai d b y th e processo r o n th e processin g o f th e enumerate d basi c commodities , eithe r domesti c o r imported . Supplementar y revenu e provision s includ e compensatin g taxe s upo n importation s wher e necessar y t o preven t disadvantage s i n competi tion . Thi s compensatin g ta x may , i n practice , b e foun d applicabl e t o certai n Philippin e products , i n whic h cas e th e collection s woul d no t b e covere d int o th e genera l fun d o f th e Treasur y o f th e Unite d States , bu t woul d b e hel d a s a separat e fun d an d pai d int o th e insula r treasur y t o b e use d fo r th e benefi t o f agriculture . Unde r th e provision s o f sectio n 8 , a conferenc e o f suga r producers , processor s an d handler s wa s convene d Jun e 2 7 b y th e Unite d State s Departmen t o f Agriculture .

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31 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Th e bil l include s th e Emergenc y Far m Mortgag e Ac t o f 1933 , whic h provide s fo r th e refinancin g o f far m mortgage s a t reduce d interes t rate s throug h th e issuance , b y Federa l lan d banks , o f $2,000,000,00 0 i n bonds ; fo r th e refinancin g o f drainag e an d irrigatio n districts ; an d fo r additiona l loan s t o farmer s an d frui t growers / I t contain s measure s fo r refinancin g th e Government ; confer s o n th e Presiden t powe r t o alte r th e gol d conten t o f th e dollar , t o direc t th e issuanc e o f currency , an d t o accep t silve r i n settlemen t o f wa r debts . I t amend s th e Federa l Reserv e Ac t b y allowin g a n increas e o r de creas e i n th e reserv e balance s require d t o b e maintaine d agains t eithe r deman d o r tim e deposits , i n cas e o f emergenc y b y reaso n o f credi t expansion . Publi c Resolutio n No . 10 , Seventy-thir d Congres s (H.J.Res . 192) : "T o assur e unifor m valu e t o th e coin s an d currenc y o f th e Unite d States" , approve d Jun e 5 , 1933 . Allow s paymen t o f ever y obliga tio n i n an y coi n o r currenc y whic h a t th e tim e o f paymen t i s lega l tende r fo r publi c an d privat e debt s an d repeal s thos e provision s o f la w requirin g th e paymen t o f obligation s o f th e Unite d State s i n gold. Publi c No . 66 , Seventy-thir d Congres s (H.R . 5661) , Bankin g Ac t o f 1933 , approve d Jun e 16 , 1933 : "T o provid e fo r th e safe r an d mor e effectiv e us e o f th e asset s o f banks , t o regulat e interban k control , t o preven t th e undu e diversio n o f fund s int o speculativ e operations , an d fo r othe r purposes. " Designe d t o correc t abuse s an d strengthe n th e bankin g condition . Amend s th e Federa l Reserv e Act . Provide s fo r th e promp t liquidatio n o f close d banks , fo r th e insuranc e o f ban k deposit s withi n certai n limitation s i n orde r t o safeguar d depositors , fo r th e purchas e o f Governmen t securities , fo r th e discontinuanc e o f interes t o n deman d deposit s o f membe r banks , fo r th e regulatio n b y th e Federa l Reserv e Boar d o f th e rat e o f interes t o n tim e deposits , fo r th e discontinuanc e o f paymen t o f interes t o n posta l saving s deposit s withdraw n withou t 6 0 days 7 advanc e notice . Include s a gran t o f powe r t o membe r bank s t o establis h an d operat e branche s i n th e in sula r possessions . Publi c No . 77 , Seventy-thir d Congres s (H.R . 6034) , Fourt h Defi cienc y Act , fiscal yea r 1933 , approve d Jun e 16 , 1933 . Carrie s appro priation s approximatin g $3,610,000,00 0 t o carr y ou t th e provision s o f th e Emergenc y Far m Mortgag e Ac t o f 1933 , th e Hom e Owner' s Loa n Ac t o f 1933 , th e Nationa l Industria l Recover y Act , th e Far m Credi t Ac t o f 1933 , an d th e Securitie s Ac t o f 1933 . Publi c No . 67 , Seventy-thir d Congres s (H.R . 5755) , Nationa l Indus tria l Recover y Act , approve d Jun e 16 , 1933 . Provide s a progra m o f industria l recover y includin g code s o f fai r competition , trad e agree ment s an d licenses . Labo r employe d unde r th e variou s contract s i s protecte d b y provision s coverin g maximu m hour s o f labor , minimu m rate s o f pay , an d othe r condition s approve d o r prescribe d b y th e President . Authorit y i s give n th e Presiden t t o adjus t tariffs , lev y quotas , an d impos e embargoe s t o mee t damagin g competitio n mad e possibl e throug h depreciate d currencies . Create s a Federa l Emergenc y Administratio n o f Publi c Work s t o pla n an d execut e a comprehensiv e progra m o f constructio n wit h a vie w t o bringin g abou t wid e reemploymen t throug h th e expenditur e o f th e proceed s o f a bon d issu e o f $3,300,000,00 0 i n usefu l public , projects ; Puert o Ric o t o shar e i n it s benefits .

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3 2 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Ne w revenue s ar e provide d b y increase d rate s i n th e gasolin e ta x an d change s i n th e incom e an d profits-ta x section s o f th e Revenu e Ac t o f 1932 . Operatio n o f th e ac t i s limite d t o tw o years . Publi c No . 78 , Seventy-thir d Congres s (H.R . 5389) , Independen t Office s Appropriatio n Act , 1934 , approve d Jun e 16 , 1933 . Carrie s appropriation s fo r th e Executiv e Offic e an d sundr y independen t executiv e bureaus , boards , commission s an d offices . Reduce s th e compensatio n o f al l Unite d State s officer s an d employee s o f th e insula r possession s whic h i s fixed b y act s o f Congres s an d no t subjec t t o re ductio n unde r Publi c No . 2 , Seventy-thir d Congress , 1 5 percen t fro m dat e o f approva l o f th e ac t an d unti l Jul y 1 , 1934 ; contain s provision s governin g reduction s i n Unite d State s civil-servic e personnel , retire ments , an d furloughs . Carrie s reduce d appropriation s fo r pension s an d compensatio n fo r veterans . Add s a provis o tha t n o par t o f th e appropriatio n fo r th e Veterans ' Administratio n shal l b e expende d fo r th e purchas e o f oleomargarin e o r butte r substitut e excep t fo r cookin g purposes , which , i n effect , ma y limi t th e us e o f Philippin e coconu t oil . Include s appropriatio n o f $84,00 0 fo r extendin g t o Puert o Ric o th e benefit s o f certai n Federa l law s relatin g t o vocationa l educatio n an d civilia n rehabilitation , an d another , o f $48,500 , fo r th e quot a o f th e Unite d State s i n th e suppor t o f th e Internationa l Institut e o f Agri cultur e a t Rome , Italy , includin g th e share s o f th e Philippin e Island s an d Puert o Rico . PUERT O RIC O Publi c No . 3 , Seventy-thir d Congres s (H.R . 3341) , approve d Marc h 22 , 1933 : "T o provid e revenu e b y taxatio n o f certai n non intoxicatin g liquor , an d fo r othe r purposes. " Repeal s certai n section s o f th e Nationa l Prohibitio n Act ; permit s th e manufactur e o f bee r an d othe r liquor s containin g no t mor e tha n 3. 2 percen t o f alcoho l b y weight ; make s provisio n fo r sal e b y permit ; levie s a ta x thereon ; provide s fo r shipmen t an d transportation . Publi c No . 5 , Seventy-thir d Congres s (S . 598) , approve d Marc h 31 , 1933 : "Fo r th e relie f o f unemploymen t throug h th e performanc e o f usefu l publi c work , an d fo r othe r purposes. " T o reliev e th e acut e conditio n o f wide-sprea d distress , th e Presiden t i s authorize d t o utiliz e suc h agencie s a s h e ma y designat e t o provid e employmen t fo r unem ploye d citizen s o f th e Unite d State s i n th e construction , maintenance , an d carryin g o n work s o f a publi c natur e i n connectio n wit h th e forestatio n o f lands . Appropriation s ar e mad e availabl e fo r carryin g ou t it s provisions . Operatio n o f th e ac t i s limite d t o 2 years . Publi c No . 15 , Seventy-thir d Congres s (H.R . 4606) , Federa l Emer genc y Relie f Ac t o f 1933 , approve d Ma y 12 , 1933 . Provide s fo r coop eratio n o f th e Federa l Governmen t wit h 1 th e severa l State s an d Territorie s i n furnishin g relie f t o need y an d distresse d peopl e an d authorizes , i n additio n t o th e fund s authorize d b y th e Emergenc y Relie f an d Constructio n Ac t o f 1932 , a n appropriatio n o f $500,000,00 0 t o reliev e hardshi p cause d b y unemployment . Create s th e Federa l Emergenc y Relie f Administratio n t o functio n fo r 2 year s t o carr y ou t th e provision s o f th e act . Include s Puert o Ric o i n it s terms . Publi c No . 43 , Seventy-thir d Congres s (H.R . 5240) , Hom e Owners ' Loa n Ac t o f 1933 , approve d Jun e 13 , 1933 . Wit h a vie w t o providin g emergenc y relie f wit h respec t t o hom e mortgag e indebtedness , th e

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33 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Federa l Hom e Loa n Ban k Boar d i s directe d t o creat e a Hom e Owners ' Loa n Corporation , sai d corporatio n bein g authorize d t o issu e bond s amountin g t o $2,000,000,00 0 t o b e sol d t o obtai n fund s fo r refinancin g hom e mortgage s an d extendin g othe r direc t relie f t o hom e owners . Th e relie f provide d i s limite d t o 3 years . Publi c No . 75 , Seventy-thir d Congres s (H.R . 5790) , Far m Credi t Ac t o f 1933 , approve d Jun e 16 , 1933 . Designe d t o suppl y credi t fo r agricultura l productio n an d marketing , i t authorize s th e organizatio n o f 1 2 production-credi t corporation s an d 1 2 bank s fo r cooperatives , 1 suc h corporatio n an d 1 suc h ban k t o b e establishe d i n eac h cit y i n whic h ther e i s locate d a Federa l lan d bank . Th e Governo r o f th e Far m Credi t Administratio n i s authorize d t o organiz e production credi t association s compose d o f farmer s desirin g t o borro w mone y an d a centra l ban k fo r cooperative s empowere d t o mak e loan s t o cooperativ e associations . Th e ac t authorize s th e appointmen t o f thre e commissioner s i n th e Far m Credi t Administration , make s availabl e certai n appropriations , an d amend s th e Agricultura l Marketin g Ac t an d th e Federa l Far m Loa n Act .

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APPENDI X B LIS T O F PRINCIPA L MEASURE S AFFECTIN G TH E PHIL IPPIN E ISLAND S AN D PUERT O RIC O (a ) CONSIDERE D DURIN G TH E SECON D SESSIO N O F TH E SEVENTY. " SECON D CONGRESS , BU T WHIC H WER E NO T ENACTE D PHILIPPIN E ISLAND S AN D PUERT O RIC O H.R . 14459 . T o impos e a ta x o n eac h sal e o f foreig n securitie s i n th e Unite d States . Th e Philippin e Island s an d Puert o Ric o include d i n it s terms . (Introduce d Jan . 27 , 1933 ; referre d t o Hous e Committe e o n Way s an d Means. ) H.R . 14178 . T o promot e trave l t o an d i n th e Unite d State s an d it s possessions , thereb y promotin g America n business ; an d t o encourag e foreig n trave l i n th e Unite d States . Establishe s a trave l divisio n i n th e Burea u o f Foreig n an d Domesti c Commerc e o f th e Departmen t o f Commerc e an d authorize s appropriation s necessar y t o carr y ou t th e provision s o f th e act . (Introduce d Jan . 11 , 1933 ; referre d t o th e Committe e o n Interstat e an d Foreig n Commerce. ) PUERT O RIC O H.R . 14379 . Amend s th e ac t o f Marc h 4 , 1931 , entitle d "A n ac t t o permi t th e Unite d State s t o b e mad e a part y defendan t i n certai n cases" , b y investin g th e insula r court s o f Puert o Ric o wit h th e sam e jurisdictio n wit h whic h Stat e court s ar e no w clothe d wit h respec t t o suit s fo r foreclosur e o f a mortgag e o r other , lie n upo n an y propert y upo n whic h th e Unite d State s ha s a claim . (Introduce d Jan . 23,1933 ; referre d t o Hous e Committe e o n th e Judiciary. ) H.J.Res . 539 , H.J.Res . 564 , S.J.Res . 260 . T o validat e a n ac t o f th e fourt h specia l sessio n o f th e Twelft h Legislatur e o f Puert o Ric o entitle d "A n ac t authorizin g th e Governo r o f Puert o Ric o t o guarante e repayment , i n th e nam e o f th e peopl e o f Puert o Rico , o f loan s mad e b y th e Reconstructio n Financ e Corporatio n t o th e agricultura l credi t corporation s o f th e islan d o f Puert o Rico , an d fo r othe r purposes" , approve d Octobe r 21 , 1932 . I n vie w o f th e opinio n o f Reconstructio n Financ e Corporatio n counse l tha t th e Puert o Rica n la w cite d i s contrar y t o th e Organi c Ac t o f Puert o Rico , thes e bill s wer e introduce d t o remov e doub t o f it s validit y an d t o facilitat e th e conferrin g o f th e benefit s o f th e Reconstructio n Financ e Corporatio n Ac t o n th e agricultural-credi t corporation s o f Puert o Ric o b y guaranteein g th e repaymen t o f loan s i n th e nam e o f th e peopl e o f Puert o Rico . (H.J.Res . 53 9 introduce d Jan . 5 , 1933 ; H.J.Res . 56 4 introduce d Jan . 20 ; reporte d b y Hous e Committe e o n Insula r Affair s (H.Rept . No . 1976 ) ; S.J.Res . 26 0 intro duce d an d reporte d Mar . 1 fro m Senat e Committe e o n Territorie s an d Insula r Affair s (S.Rept . No . 1328) ; passe d Senat e Mar . 1. ) 3 4

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35 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • H.R . 13717 . Authorize s th e Administrato r o f Veterans ' Affair s t o acquir e a trac t o f lan d i n Puert o Ric o a s a sit e fo r a Veterans ' Admin istratio n home , provide s fo r th e constructio n o f suitabl e building s therefor , an d appropriate s $225,00 0 t o carr y ou t th e purpose s o f th e act . (Introduce d Dec . 15 , 1932 ; referre d t o Hous e Committe e o n Worl d Wa r Veterans ' Legislation. ) H.J.Res . 538 , H.J.Res . 543 . Providin g relie f fo r Puert o Ric o b y authorizin g appropriation s o f $6,000,00 0 fo r loan s t o individua l coffe e planters , coconu t planters , frui t growers , an d othe r agriculturist s i n Puert o Rico , t o b e expende d b y th e Puert o Rica n Hurrican e Relie f Commission . (Introduce d Jan . 4 an d Jan . 6 , respectively ; referre d t o Hous e Committe e o n Insula r Affairs. ) S . 5408 . Amend s Publi c Resolutio n No . 74 , Seventiet h Congress , approve d Decembe r 21 , 1928 , b y extendin g th e Puert o Rican Relie f Revolvin g Fun d administere d b y th e Puert o Rican Hurrican e Relie f Commissio n fo r a perio d o f 5 year s t o Decembe r 20 , 1938 . (Intro duce d Jan . 13 , 1933 ; referre d t o Senat e Committe e o n Territorie s an d Insula r Affairs ; reporte d Feb . 1 4 (S.Rept. . 1224) ; passe d b y Senat e Feb . 22 ; referre d t o Hous e Committe e o n Insula r Affairs. ) H.R . 14081 . Amend s th e Organi c Ac t o f Puert o Ric o enacte d Marc h 2 , 1917 , b y extendin g it s provision s grantin g Unite d State s citizenship , broadenin g th e dutie s o f th e Treasure r o f Puert o Ric o t o includ e supervisio n o f publi c fund s o f municipalities , placin g furthe r restriction s o n th e employmen t o f senator s an d representative s unde r th e Governmen t o f Puert o Rico , changin g th e provision s governin g th e appointmen t o f certai n cour t official s an d thos e governin g th e metho d o f annua l appropriations . (Introduce d Jan . 6 , 1933 ; referre d t o Hous e Committe e o n Insula r Affairs. ) S.J.Res . 183 . T o amen d th e Puert o Rica n Hurrican e Relie f Ac t b y authorizin g th e Puert o Rica n Hurrican e Relie f Commissio n t o dispos e o f far m land s i n Puert o Ric o whic h hav e bee n acquire d throug h fore closur e proceedings . (Introduce d durin g th e firs t session ; reporte d b y Senat e Committe e o n Territorie s an d Insula r Affair s Feb . 14 , 193 3 (S.Rept . No . 1225). ) •(b) CONSIDERE D DURIN G TH E FIRS T SESSIO N O F TH E SEVENTY THIR D CONGRESS , WHIC H WER E NO T ENACTE D PHILIPPIN E ISLAND S AN D PUERT O RIC O S . 1699 , H.R . 5863 . T o preven t th e los s o f th e titl e o f th e Unite d State s t o land s i n th e Territorie s o r Territoria l possession s throug h advers e possessio n o r prescription . (S . 169 9 introduce d Ma y 15 , 1933 ; referre d t o Senat e Committe e o n Territorie s an d Insula r Affairs ; H.R . 586 3 introduce d Jun e 1 ; referre d t o Hous e Committe e o n th e Judiciary. ) H.R . 3895 . T o impos e a ta x o n foo d product s containin g importe d organi c fat s an d oils , an y revenu e collecte d upo n product s originatin g i n an y insula r possessio n o f th e Unite d State s t o b e pai d int o th e treasur y o f suc h insula r possession . (Introduce d Mar . 21 , 1933 ; referre d t o Hous e Committe e o n Way s an d Means. ) H.R . 5862 . T o provid e fo r th e remova l o f America n citizen s an d national s accuse d o f crim e t o an d fro m th e jurisdictio n o f an y office r o r representativ e o f th e Unite d State s veste d wit h judicia l authorit y i n an y countr y i n whic h th e Unite d State s exercise s extraterritoria l

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3 6 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • jurisdiction . (Introduce d Jun e 1 ; referre d t o th e Hous e Committe e o n th e Judiciary. ) S . 1865 , S . 1868 . T o amen d th e bankruptc y la w b y makin g pro visio n fo r th e emergenc y temporar y ai d o f insolven t publi c debtors , t o preserv e th e asset s thereof , an d fo r othe r relate d purposes . (Intro duce d Jun e 8 ; referre d t o Senat e Committe e o n th e Judiciary. ) S . 1849 . Amend s th e emergenc y bankin g legislatio n approve d Marc h 9 , 1933 , b y providin g fo r th e purchas e b y nationa l bank s o f th e asset s o f close d nationa l bank s an d Stat e bank s an d trus t com panies . (Introduce d Jun e 7 ; referre d t o Hous e Committe e o n Bankin g an d Currency. ) PHILIPPIN E ISLAND S H.J.Res. 118 . Provide s fo r th e retur n t o th e Philippin e Island s o f unemploye d Filipino s residin g i n th e continenta l Unite d State s wh o hav e falle n int o financia l distres s an d disaste r an d desir e t o return , thu s relievin g communitie s i n th e Unite d State s o f th e car e an d financia l ai d o f native s o f th e Philippin e Island s wh o hav e becom e destitut e an d dependen t upo n publi c an d privat e charities . Author ize s appropriation s t o accomplis h tha t result . (Introduce d Mar . 23 , 1933 ; referre d t o Hous e Committe e o n Immigratio n an d Naturaliza tion ; Ma y 11 , reporte d wit h amendment s extendin g provision s t o Territorie s s o a s t o allo w indigen t Filipino s i n Hawai i t o retur n hom e i n th e sam e manne r a s thos e i n th e Unite d State s (H.Rep k 127) . Somewha t simila r legislatio n considere d i n th e Seventy-secon d Con gres s bu t no t enacted. ) H.J . Res . 173 . Authorize s th e restoratio n o f a limitatio n o n th e importation , fre e o f duty , o f Philippin e sugar , limitin g the . amoun t t o 500,00 0 shor t ton s annually . (Introduce d Ma y 4 ; referre d t o Hous e Committe e o n Way s an d Means. ) H.R . 6035 . T o prohibi t th e sal e o r offe r fo r sal e fo r domesti c con sumptio n o r use , o f oleomargarin e containin g les s tha n 7 5 percen t o f anima l fat . Thi s woul d hav e th e effec t o f materiall y limitin g th e us e o f Philippin e coconu t oi l fo r tha t purpose . (Introduce d Jun e 10 ; referre d t o Hous e Committe e o n Agriculture. ) PUERT O RIC O S.J . Res . 49 . Authorize s a n increas e o f $40,000,00 0 fo r us e b y th e Reconstructio n Financ e Corporatio n fo r th e purchas e o f grai n o r grai n product s fo r distributio n b y th e America n Nationa l Re d Cros s fo r relie f o f distress . (Introduce d Ma y 1 , 1933 ; referre d t o Senat e Com mitte e o n Bankin g an d Currency. ) H.R . 5569 . River s an d harbor s bill ; authorize s th e construction , repair , an d preservatio n o f certai n publi c work s o n river s an d harbors , includin g Mayague z an d Ponc e Harbors , Puert o Rico . (Introduce d Ma y 9 , 1933 ; reporte d b y Hous e Committe e o n River s an d Harbor s Ma y 9 . (H . Rept . No . 119). ) H.R . 1745 . T o authoriz e th e acquisitio n fo r militar y purpose s o f th e portio n o f th e Sa n Jua n Military Reservatio n know n a s Sa n Geronimo . (Introduce d Mar . 9 , 1933 ; referre d t o Hous e Committe e o n Militar y Affairs. )

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37 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • H.R . 5306 . T o impos e a ta x o f 2 5 percen t o n mone y remove d fro m th e Unite d State s fo r investmen t i n foreig n countrie s fo r a perio d o f mor e tha n on e year . Include s Puert o Ric o i n it s terms . (Introduce d Apri l 27 , 1933 ; referre d t o Hous e Committe e o n Way s an d Means. ) S . 1648 . T o amen d th e Reconstructio n Financ e Corporatio n Ac t t o provid e fo r loan s t o close d buildin g an d loa n association s t o ai d i n financing agriculture , commerc e an d industry . (Introduce d Ma y 11 ; referre d t o Senat e Committe e o n Bankin g an d Currenc y Jun e 1. ) H.R . 5330 . Amend s th e Organi c Ac t o f Puert o Ric o enacte d Marc h 2 , 1917 , b y extendin g it s provision s grantin g Unite d State s citizen ship . (Introduce d Apr . 28 , 1933 ; referre d t o Hous e Committe e o n Insula r Affairs. ) H.R . 5492 ; H.J . Res . 202 . Providin g fo r th e extensio n t o Puert o Ric o o f th e wor k o f th e Unite d State s Geologica l Surve y i n th e makin g o f topographi c an d geologi c survey s an d water-resourc e investigations , th e cos t t o b e born e on e hal f b y Puert o Ric o an d on e hal f b y th e Unite d State s Government . (H.R . 549 2 introduce d Ma y 3 ; referre d t o Hous e Committe e o n Insula r Affairs . H.J . Res . 20 2 introduce d Jun e 9 ; reporte d b y Hous e Committe e o n Insula r Affair s Jun e 1 0 (H . Rept . No . 236). ) H.R . 1524 . Providin g fo r cooperatio n wit h th e severa l State s i n th e care , treatment , education , vocationa l guidanc e an d placement , an d physica l rehabilitatio n o f cripple d children . Puert o Ric o t o shar e i n it s benefits . (Introduce d Mar . 9 ; referre d t o Hous e Com mitte e o n Education. )

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APPENDI X C PHILIPPIN E ISLAND S Total foreign trade 1 2 month s endin g Dec . 31 — Consignment s Shipment s 1 2 month s endin g Dec . 31 — Fro m Unite d State s Fro m othe r countrie s Tota l T o Unite d State s T o othe r countrie s Tota l 192 3 1 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 192 4 i _ $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 192 5 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 192 6 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 192 7 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 192 8 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 192 9 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 193 0 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 193 1 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 193 2 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 $50 , 352,53 5 60,398,60 3 69,297,58 3 71,575,61 8 71,478,29 7 83,858,06 8 92 , 592,95 9 78,183,02 9 62,139 , 68 3 51,297 , 75 0 $37,147,21 2 47,612,29 2 50,435,25 1 47,723,37 4 44,373,17 5 50,798,83 0 54 , 567,31 6 44,909,92 5 37,039,03 6 28,097,33 5 $87,499,74 7 108,010,89 5 119,732,83 4 119,298,99 2 115,851,47 2 134,656,89 8 147,160 , 27 5 123,092,95 4 99,178,71 9 79 , 395,08 5 $85,047,02 3 97,313,90 3 109,044,94 2 100 , 003,21 5 116,038,25 0 115,585,87 6 124,465,47 3 105,342,06 1 83,422,39 7 82,647,86 7 $35,705,96 7 38,030,76 0 39,832,26 3 36,881,10 5 39 , 535,83 5 39,468,67 0 39,981 , 37 0 27,825,06 7 20,549 , 67 7 12,690,21 4 $120,752,99 0 135,344,66 3 148,877,20 5 136,884,32 0 155,574,08 5 155,054 , 54 6 164,446,84 3 133,167,12 8 103,972,07 4 95,338,08 1 i Correcte d figures unde r consignments . Manila-hemp shipments 1 2 month s endin g Dec . 31 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Quantit y Valu e Valu e pe r to n Quantit y Valu e Valu e pe r to n Long tons Long tons 192 3 187,43 3 $24,951 , 57 5 $13 3 81,16 7 $12,635,31 1 $15 6 192 4 . .. . 174,51 0 29,950,45 8 17 2 75,99 9 15,267,23 8 20 1 192 5 — 148,63 8 35,521,64 6 23 9 58,97 6 18,200,64 9 30 9 192 6 151,60 9 32,142,03 8 21 2 60,88 1 16 , 301,10 1 26 8 1927.. . 146,47 4 29 , 687,12 9 20 3 47,77 9 12,261,97 5 25 7 192 8 172,14 0 26,593 , 60 6 15 4 50,30 4 9 , 527,04 5 18 9 192 9 186,43 1 28,420 , 55 0 15 2 66,83 0 12 , 276,36 3 18 4 193 0 166,61 6 18,426 , 67 6 11 1 57,78 2 7,638,02 9 13 3 193 1 130,02 6 8,942,90 7 6 9 27,46 1 2 , 511,73 4 9 1 193 2 104,11 4 5 , 015,60 2 4 8 24,74 0 1,481,57 6 6 0 3 8

PAGE 43

39 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Coconut-oil shipments 1 2 month s endin g Dec . 31 — Tota l Quantit y Valu e Valu e pe r poun d Shipment s t o Unite d State s Quantit y Valu e 1923 . 1924 . 1925 . 1926 . 1927 . 1928 . 1929 . 1930 . 1931 . 1932 . Long tons 87,77 4 109.86 5 102,48 2 115 , 43 8 142 , 51 5 139,99 6 187 , 50 9 145,03 6 162,36 4 112,86 1 $14,066,58 2 18,811,03 1 19,820,18 9 22 , 345,21 7 24,840,68 3 23,489,17 3 29,184,94 2 19,155,3S 2 15 , 035,32 2 7,651,14 4 Cents 7.1 5 7.6 4 8.6 3 8.6 4 7.7 S 7. 49 5.9 5 5.8 $ 4.1 3 Long tons 83,40 9 108,81 0 94,85 1 113,11 6 139,35 2 138,60 8 185,70 7 143,79 6 146,38 3 108,51 7 $13 , 18 , 18 , 21 , 24 , 23 , 28 , 18 , 13 , 7 , 375,39 7 628,40 6 428,48 2 926,02 4 284,36 1 239,52 1 900,58 7 961,82 7 585,68 4 335,83 0 Copra shipments 1 2 month s endin g Dec . 31 — Tota l Quantit y Valu e Valu e pe r tor n Shipment s t o Unite d State s Quantit y Valu e Valu e pe r to n 1923 . 1924 . 1925 . 1926 . 1927 . 1928 . 1929 . 1930 . 1931 . 1932 . Long tons 203,85 9 154,28 5 144,39 1 171,27 2 196,17 0 230,71 3 170,83 0 171,54 6 171,48 6 135,07 2 $19,246,99 9 15,351,SS 2 15,868 , 70 3 18 , m , 73 3 19,155,74 1 22,542,34 1 15,565,82 1 13,433,43 8 9,150,40 4 5,133,22 7 $9 4 9 6 11 0 10 9 9 8 9 8 9 1 7 8 5 3 3 8 Long tons 127,21 7 105,82 8 114,32 3 127,04 2 154,35 0 179,70 1 127,57 0 138,93 1 118,97 5 81,71 6 $11,989,93 2 10,498,16 5 12,581 , 55 0 13,816,39 6 15,238,15 7 17,603,83 2 11,440,89 8 10,654,34 8 6,052 , 32 9 3,056,06 7 11 0 10 9 9 8 9 8 9 0 7 7 5 1 3 7 Desiccated-coconut shipments Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Pounds Cents Pounds Cents 192 3 9,588,14 0 $903,12 3 9.4 2 9,583,26 2 $902,57 6 9.4 2 192 4 17,932,10 8 1,598,55 9 8.9 2 17,916,41 8 1,697,41 3 8.9 2 192 5 27,608,67 0 2,608,87 3 9.4 5 27,574,47 5 2,605,61 1 9.4 5 192 6 31,587,04 7 2,757,65 7 8.7 3 31,526,98 6 2,751,96 4 8.7 3 192 7 33,472,87 7 „ 2,850,06 0 8.5 1 33,370,65 5 2,840,28 6 8.5 1 1928 1 44,895,71 1 " 3,723,58 6 8.2 9 44,838,72 2 3,718,26 9 8.2 9 192 9 49,130,66 4 3,540,12 4 7.2 0 49,094,77 7 3,537,00 4 7.2 0 193 0 43 , 943 , 82 0 2,962,84 5 6.7 4 43,886,90 1 2,958,71 0 6.7 4 193 1 37,084,97 2 1,822,12 9 4.9 1 37,044,92 8 1 , 819,69 1 4.9 1 193 2 35,433,78 5 1,616,70 1 4.5 6 35,408,84 7 1,615,44 6 4.5 6 i Include s revisio n o f preliminar y figures .

PAGE 44

4 0 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Sugar shipments 1 Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Valu e pe r poun d Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Long tons Cents Long tons Cents 192 3 267,68 6 $34,519,12 3 5.7 6 226,91 1 $30,377,15 1 5.9 8 192 4 352,17 7 41,868,08 7 5.3 1 296,11 3 37,490,75 1 5.6 5 192 5 538,19 2 45,514,00 3 3.7 7 456,65 6 41,416,84 1 4.0 5 192 6 — 404,73 4 32,229,63 4 3.5 5 335,91 2 29,162,46 9 3.8 8 192 7 544,58 1 50,295,96 0 4.1 2 500,28 4 47,886,98 7 4.2 7 192 8 560,93 3 47,542,94 0 3.7 8 525,78 6 45,691,23 8 3.8 8 192 9 684,87 3 53,244,14 9 3.4 7 660,35 2 52,153,93 0 3.5 3 193 0 732,22 5 52,240,22 6 3.1 8 725,54 8 52,038,65 7 3.2 0 193 1 741,03 6 49,963,10 5 3.0 0 740,39 7 49,944,46 5 3.0 1 193 2 1,000,50 6 59,801,88 5 2.6 7 1,000,20 9 '59,792,29 3 2.6 7 'Include s refine d suga r separatel y show n a s follows : 1 2 month s endin g Dec . 31 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Long tons 83 8 Cents Long tons Cents 192 3 Long tons 83 8 $138,55 4 7.3 8 82 4 $135,66 4 7.3 5 192 4 4,45 9 697,27 5 6.9 8 4,45 7 676,89 5 6.9 8 1925 . 4,15 9 540,31 8 5.8 0 4,13 8 537,38 1 5.8 0 192 6 1,77 9 226,07 4 5.6 7 1,77 6 225,69 3 5.6 7 192 7 1,80 9 219,18 3 5.4 1 1,79 0 216,42 3 5.4 0 192 8 7,91 7 6,89 9 955,73 5 5.3 9 7,85 9 947,94 5 5.3 8 1929 _ 7,91 7 6,89 9 824,32 3 5 . 3 3 6,83 4 816,94 7 5.3 4 1930. . 26,93 9 2,722,81 9 4 . 5 1 26,92 8 2,721,62 0 4 . 5 1 193 1 39,83 5 3,329,86 6 3.7 3 39,78 7 3,324,88 1 3 . 7 3 193 2 56,22 3 4,465,23 8 3 . 5 5 56,18 5 4,461,71 3 3.6 5 Leaf-tobacco shipments 1 2 month s endin g Dec . 31 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Pounds Cents Pounds Cents 192 3 53 , 528 , 37 4 $3 , 636,71 0 6.7 9 286,06 4 $52,85 2 18.4 8 192 4 47,803 , 70 6 4,034 , 46 6 8.4 4 66,36 9 10 , 57 2 15.9 3 192 5 36 , 559,16 4 3 , 065,00 7 8 . 3 8 6,33 2 91 2 14.4 0 1926 . 31 , 576,75 5 2,679 , 63 0 8.4 9 9,37 0 3,82 0 40.7 6 192 7 52,004,30 3 3,918 , 74 9 7 . 5 4 157,17 5 28,89 8 18.3 9 192 8 44 , 571,47 0 3 , 029,63 3 6.8 0 124 , 61 7 15,89 6 12.7 6 192 9 60,800 , 64 3 4,392,43 5 7 . 2 2 104.00 9 12,60 4 12.1 2 193 0 45,790,90 0 3 , 725,87 9 8.1 3 422 , 52 5 48,69 5 11 . 5 2 193 1 49,941,02 2 3,501,49 6 7.0 1 236,10 6 41,26 8 17.4 8 193 2 47,664,48 8 2,822,23 3 5.9 2 426,94 9 41,86 2 9.8 0

PAGE 45

41 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Cigar shipments 1 2 month s endin g Dec . 31 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Quantit y Valu e Valu e pe r thousan d Quantit y Valu e Valu e pe r thousan d 192 3 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 192 4 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 192 5 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 192 6 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 192 7 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 192 8 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 192 9 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 193 0 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 193 1 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 193 2 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 Thousands 280 , 75 5 218,59 9 252,55 3 247,72 6 207,67 8 220,88 4 188,33 3 178 , 56 1 183,87 4 182,57 5 $6,169,94 4 5,404,66 2 6 , 043,97 6 5,663,42 0 4,652,26 8 ; 4,765,14 0 f 3,824,64 9 3,545,22 3 j 3,395,33 7 ; 3,231,21 8 $21.9 8 24.7 2 23.9 3 22.8 6 22.4 3 21.5 7 20.3 1 19.8 6 18.4 7 17.7 ® Thousands 219,89 8 175,76 2 207,08 0 195,32 7 167,30 0 179 , 57 0 160,94 6 144,76 7 168,32 0 164,61 6 $5,149,11 5 4,419 , 78 2 5,025 , 59 6 4,569,21 8 3,768,91 6 3,855,67 2 3,013,35 5 2,810 , 27 9 2,885,36 6 2,885 , 52 4 $23.4 2 25.1 5 24 . 2 5 23.3 9 22.5 3 21.4 7 19.9 6 19.4 1 18.2 0 17.5 3 Embroidery shipments 1 1 2 month s endin g Dec . 31 — Tota l valu e Valu e o f shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Tota l valu e Valu e o f shipment s t o Unite d State s 1923 . $6,375,64 5 4 , 698,00 1 4 , 571,67 5 5,992,38 9 4,003,47 6 $6 , 365,58 5 4 , 686,68 0 4 , 550,15 4 5,976,46 4 3,976,12 6 1 192 8 — — $4,523,96 8 6,011,53 2 3 , 591 , 73 7 2 , 657,13 0 3 , 349 , 82 5 $4,483 , 51 3 5,962,09 3 3 , 544 , 03 6 2,625 , 32 3 3,334,48 1 192 4 $6,375,64 5 4 , 698,00 1 4 , 571,67 5 5,992,38 9 4,003,47 6 $6 , 365,58 5 4 , 686,68 0 4 , 550,15 4 5,976,46 4 3,976,12 6 1 192 9 $4,523,96 8 6,011,53 2 3 , 591 , 73 7 2 , 657,13 0 3 , 349 , 82 5 $4,483 , 51 3 5,962,09 3 3 , 544 , 03 6 2,625 , 32 3 3,334,48 1 192 5 $6,375,64 5 4 , 698,00 1 4 , 571,67 5 5,992,38 9 4,003,47 6 $6 , 365,58 5 4 , 686,68 0 4 , 550,15 4 5,976,46 4 3,976,12 6 1 193 0 $4,523,96 8 6,011,53 2 3 , 591 , 73 7 2 , 657,13 0 3 , 349 , 82 5 $4,483 , 51 3 5,962,09 3 3 , 544 , 03 6 2,625 , 32 3 3,334,48 1 1926 . $6,375,64 5 4 , 698,00 1 4 , 571,67 5 5,992,38 9 4,003,47 6 $6 , 365,58 5 4 , 686,68 0 4 , 550,15 4 5,976,46 4 3,976,12 6 1 193 1 _ _ $4,523,96 8 6,011,53 2 3 , 591 , 73 7 2 , 657,13 0 3 , 349 , 82 5 $4,483 , 51 3 5,962,09 3 3 , 544 , 03 6 2,625 , 32 3 3,334,48 1 192 7 $6,375,64 5 4 , 698,00 1 4 , 571,67 5 5,992,38 9 4,003,47 6 $6 , 365,58 5 4 , 686,68 0 4 , 550,15 4 5,976,46 4 3,976,12 6 1 193 2 $4,523,96 8 6,011,53 2 3 , 591 , 73 7 2 , 657,13 0 3 , 349 , 82 5 $4,483 , 51 3 5,962,09 3 3 , 544 , 03 6 2,625 , 32 3 3,334,48 1 $6,375,64 5 4 , 698,00 1 4 , 571,67 5 5,992,38 9 4,003,47 6 $6 , 365,58 5 4 , 686,68 0 4 , 550,15 4 5,976,46 4 3,976,12 6 1 $4,523,96 8 6,011,53 2 3 , 591 , 73 7 2 , 657,13 0 3 , 349 , 82 5 $4,483 , 51 3 5,962,09 3 3 , 544 , 03 6 2,625 , 32 3 3,334,48 1 1 O n cotto n an d silk . Cordage shipments Tota l Shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Pounds Cents Pounds Cents 192 3 6,966 , 24 3 $748,88 4 10.7 5 3,051,32 5 $339,78 6 11.1 4 192 4 9,927 , 57 6 1,094,31 2 11.0 2 5,075,63 1 593,61 5 11.7 0 192 5 12,121,37 4 1,676 , 50 8 13.8 3 5,356,15 3 803 , 04 9 14.9 9 192 6 10,064,92 5 1,405 , 45 8 13.9 6 4,054,18 9 648 , 03 6 15.9 8 192 7 12,283,83 9 1,666 , 70 6 13 . 5 7 4,135,60 9 640 , 74 5 15.4 9 192 8 14,494,70 5 1,775,43 6 12.2 5 5,393,02 9 721,12 0 13.3 7 192 9 15 , 667,01 6 1,904,27 2 12.1 5 6,850,77 0 932,73 0 13 . 6 1 193 0 13,858,45 7 1,553 , 22 7 11 . 2 1 6,769,41 2 841,56 4 12.4 3 193 1 10,224,80 5 887,40 8 8.6 8 4 , 599,11 3 460,00 1 10.0 0 1932 . 8,452,22 4 659,04 7 7.8 0 4,447,88 2 411 , 20 7 9.2 4 All other shipments 1 2 month s endin g Dec . 31 — Tota l valu e Valu e o f shipment s t o Unite d State s 1 2 month s endin g Dec . 31 — Tota l valu e Valu e o f shipment s t o Unite d State s 192 3 $10,134,40 5 12,533,20 5 14,186 , 62 5 13,082,14 4 14 , 503,32 3 $3,859,31 8 4,121,28 1 5,432,09 8 4,847 , 72 3 5 , 111 , 79 9 192 8 i $17,068,72 4 18,358 , 36 9 14 , 532,49 5 8,616,83 6 6,057 , 19 9 $6,729,77 0 6 , 235,90 9 5,845,91 6 3,496 , 53 6 2 , 693 , 58 1 192 4 $10,134,40 5 12,533,20 5 14,186 , 62 5 13,082,14 4 14 , 503,32 3 $3,859,31 8 4,121,28 1 5,432,09 8 4,847 , 72 3 5 , 111 , 79 9 192 9 $17,068,72 4 18,358 , 36 9 14 , 532,49 5 8,616,83 6 6,057 , 19 9 $6,729,77 0 6 , 235,90 9 5,845,91 6 3,496 , 53 6 2 , 693 , 58 1 192 5 $10,134,40 5 12,533,20 5 14,186 , 62 5 13,082,14 4 14 , 503,32 3 $3,859,31 8 4,121,28 1 5,432,09 8 4,847 , 72 3 5 , 111 , 79 9 193 0 $17,068,72 4 18,358 , 36 9 14 , 532,49 5 8,616,83 6 6,057 , 19 9 $6,729,77 0 6 , 235,90 9 5,845,91 6 3,496 , 53 6 2 , 693 , 58 1 192 6 $10,134,40 5 12,533,20 5 14,186 , 62 5 13,082,14 4 14 , 503,32 3 $3,859,31 8 4,121,28 1 5,432,09 8 4,847 , 72 3 5 , 111 , 79 9 193 1 $17,068,72 4 18,358 , 36 9 14 , 532,49 5 8,616,83 6 6,057 , 19 9 $6,729,77 0 6 , 235,90 9 5,845,91 6 3,496 , 53 6 2 , 693 , 58 1 192 7 $10,134,40 5 12,533,20 5 14,186 , 62 5 13,082,14 4 14 , 503,32 3 $3,859,31 8 4,121,28 1 5,432,09 8 4,847 , 72 3 5 , 111 , 79 9 193 2 $17,068,72 4 18,358 , 36 9 14 , 532,49 5 8,616,83 6 6,057 , 19 9 $6,729,77 0 6 , 235,90 9 5,845,91 6 3,496 , 53 6 2 , 693 , 58 1 $10,134,40 5 12,533,20 5 14,186 , 62 5 13,082,14 4 14 , 503,32 3 $3,859,31 8 4,121,28 1 5,432,09 8 4,847 , 72 3 5 , 111 , 79 9 $17,068,72 4 18,358 , 36 9 14 , 532,49 5 8,616,83 6 6,057 , 19 9 $6,729,77 0 6 , 235,90 9 5,845,91 6 3,496 , 53 6 2 , 693 , 58 1 i Include s revisio n o f preliminar y figures.

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APPENDI X D PHILIPPIN E ISLAND S BONDE D INDEBTEDNES S Unde r a n ac t o f Congres s approve d Augus t 29 , 1916 , a s amende d b y a n ac t approve d Ma y 31 , 1922 , i t i s provide d tha t th e entir e indebt ednes s o f th e Philippin e government , exclusiv e o f thos e obligation s know n a s friar-lan d bond s an d o f bond s no t t o excee d $10,000,00 0 i n amount , issue d b y tha t governmen t an d secure d b y a n equivalen t amoun t o f bond s issue d b y th e province s an d municipalitie s thereof, , shal l no t excee d a t an y on e tim e 1 0 percen t o f th e aggregat e ta x valuatio n o f it s property . I t i s furthe r provide d tha t th e entir e indebtednes s o f th e cit y o f Manil a shal l no t excee d 1 0 percen t o f th e aggregat e ta x valuatio n o f it s property , no r tha t o f an y provinc e o r municipalit y a su m i n excess , o f 7 percen t o f th e aggregat e ta x valuatio n o f it s propert y a t an y on e time . Th e assesse d valu e o f taxabl e rea l propert y o f th e Philippin e Island s a s a t Decembe r 31 , 1932 , wa s $965,106,850 ; tha t o f th e cit y o f Manil a a s a t Decembe r 31 , 1932 , wa s $140,094,477 . Th e followin g statement s sho w th e bonde d indebtednes s o f th e Philippin e Island s an d o f it s province s an d municipalities , respectively , o n Jun e 30 , 1933 : Insular government Titl e o f loa n Rat e Amoun t Issue d Outstandin g Jun e 30 , 193 3 Date d Re deem abl e Du e Include d i n 1 0 percen t limitation : Publi c improvement s D o D o D o Gol d bond s o f 191 6 Genera l bond s D o Irrigatio n an d permanen t publi c works . Metropolita n wate r district . D o D o Ceb u por t work s D o D o Iloil o por t work s D o D o Percent 4 4 4 5 M 4 5 4 y 2 4V 2 5 4 y 2 iy 2 4 H 4 M 4 V t 4V 2 $2 , 500,00 0 1 , 000,00 0 1 , 500,00 0 10,000,00 0 4 , 000 , 00 0 5 , 000 , 00 0 23,000,00 0 11,800 , 00 0 3 , 000,00 0 1 , 500,00 0 250,00 0 750 , 00 0 750,00 0 500,00 0 750,00 0 500,00 0 925,00 0 $1,525,00 0 • 408,00 0 644 , 00 0 8 , 268,00 0 2 , 655,00 0 4,165,00 0 18,959 , 00 0 9,390,00 0 2 , 773 , 00 0 1 , 499,00 0 250,00 0 720,00 0 728 , 00 0 500,00 0 690,00 0 490 , 00 0 925,00 0 190 5 190 6 190 9 192 1 191 6 192 2 192 2 192 2 192 5 192 9 193 1 192 8 192 9 193 0 192 8 192 9 193 0 191 5 191 6 191 9 192 6 193 5 194 1 1935 193 6 193 9 194 1 194 6 195 2 195 2 195 2 195 5 195 9 196 1 1958 . 195 9 196 0 195 8 195 9 Total . 67,725,00 0 54,589,00 0 No t include d i n 1 0 percen t limitation : Friar-lan d purchas e Collatera l bonds : O f 192 2 (Manila ) O f 192 6 (Iloilo ) O f 192 6 (Pangasinan ) O f 192 6 (Occidenta l Negros).. . O f 192 6 (Marinduque ) O f 192 6 (Iloco s Norte ) O f 192 7 (Laguna ) O f 192 7 (provincial) . O f 192 7 (Camarine s Sur ) O f 192 8 (L a Union ) O f 192 8 (Manila).. . 4 M 4 ^ 4Yi 4 M 4 M 4 ^ 4 H 4 M 7,000,00 0 2 , 750,00 0 976 , 50 0 428 , 60 0 400,00 0 55 , 60 0 274,00 0 98,00 0 1,405,00 0 111,00 0 110,00 0 500 , 00 0 3 , 365,00 0 2,307 , 00 0 ~ ' : , 50 0 : , 50 0 i , 00 0 i , 50 0 : , 00 0 1,00 0 1,00 0 1,00 0 I , 00 0 ! , 00 0 428, 5 400 , C 55, 1 274 , C 110, 1 110 , ( 472 , C 190 4 192 2 192 6 192 6 192 6 192 6 192 6 192 7 192 7 192 7 192 8 192 8 191 4 193 7 1934 195 0 > 195 6 1956 . 1956 195 6 195 6 195 7 195 7 195 7 195 8 1958 . Tota l Gran d total . 14,108,50 0 9,874 , 50 0 81,833 , 50 0 64 , 463 , 50 0 4 2

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43 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Provinces and municipalities Titl e o f loa n Rat e Amoun t Issue d Outstandin g Jun e 30 , 193 3 Date d Re deem abl e Du e 'Cit y o f Manila : Sewe r an d waterwork s D o D o Publi c improvements D o D o Cit y o f Cebu : Sewe r an d waterworks . Bangued , Abr a Province : Wate r supply... . Mayjayjay , Lagun a Province : Publi c im provement s Sant a Cruz , Lagun a Province : Publi c im Y provement s Provinc e o f Iloilo , an d 9 municipalitie s (Cab atuan , Dingle , Iloilo , Jaro , L a Paz , Maasin , b Pavia , Pototan , an d Sant a Barbara) : Publi c improvement s Provinc e o f Occidenta l Negros : Publi c im provement s Provinc e o f Pangasinan : Publi c improve provement s Provinc e o f Marinduque : Publi c Improve ment s Provinc e o f Iloco s Nort e an d 3 municipalitie s (Bacarra , Laoag , an d Pasuquin) : Publi c W improvement s Provinc e o f Laguna : Publi c improvements. . Provinc e o f Iloco s Su r an d municipalit y o f fr+Vigan: Publi c improvement s Provinc e o f Tarlac : Publi c improvements.. . Provinc e o f Pampanga : Publi c improve ment s Provinc e o f Nuev a Ecija : Publi c improve ment s Provinc e o f Bulacan : Publi c improvements Provinc e o f Camarine s Su r an d 4 municipali tie s (Naga , Magarao , Canaman , an d Cama ligan) : Publi c improvement s Provinc e o f L a Union : Publi c improvements . Tota l Percent 4 4 4 5 H 4 5 5 5 4 H 4 M 4 M 4 H 4 M 4 M 4 M 4 M $1,000,00 0 2,000,00 0 1 , 000 , 00 0 2,750 , 00 0 500 , 00 0 500 , 00 0 125,00 0 20 , 00 0 20 , 00 0 45 , 00 0 976,50 0 400 , 00 0 428,50 0 55 , 50 0 274 , 00 0 98,00 0 175,00 0 171,00 0 477,00 0 345,00 0 237,00 0 111 , 00 0 110 , 00 0 $451 , 00 0 866,00 0 634 , 00 0 2 , 307 , 00 0 472,00 0 498 , 00 0 85,00 0 20,00 0 20,00 0 45,00 0 964 , 50 0 400 , 00 0 428 , 50 0 55 , 50 0 274,00 0 98,00 0 163,00 0 161 , 00 0 432 , 00 0 310 , 00 0 224 , 00 0 110 , 00 0 110,00 0 190 5 190 7 190 8 192 0 192 8 192 9 191 1 191 9 191 9 191 9 192 6 192 6 192 6 192 6 192 6 192 7 192 7 192 7 192 7 192 7 192 7 192 7 192 8 191 5 191 7 191 8 193 0 192 1 192 9 192 9 192 9 193 6 193 5 193 7 193 8 195 0 195 8 195 9 194 1 194 9 194 9 194 9 19 5 195 6 195 6 195 6 195 6 195 7 195 7 195 7 195 7 195 7 195 7 195 7 195 8 11,818 , 50 0 9,128 , 50 0 SINKIN G AN D OTHE R FUND S Unde r th e provision s o f Ac t No . 301 4 o f th e Philippin e Legislature , approve d Marc h 8 , 1922 , sinkin g fund s fo r th e retiremen t o f bond s issue d b y th e Philippin e Governmen t ar e t o b e investe d onl y i n securitie s o f th e Governmen t o f th e Philippin e Island s o r th e Govern men t o f th e Unite d State s afte r th e approva l o f thi s act . Unde r th e provision s o f Ac t No . 372 3 o f th e Philippin e Legislature , approve d Novembe r 21 , 1930 , a s amende d b y Ac t No . 3828 , approve d Octobe r 28 , 1931 , fund s derive d fro m th e sal e o f financia l interes t protectio n bonds , issue d unde r Ac t No . 2999 , ma y b e invested : (a ) I n bond s o r othe r evidence s o f indebtednes s o f th e Governmen t o f th e Philippin e Islands ; (6 ) i n bond s o r othe r evidence s o f indebtednes s o f th e Governmen t o f th e Unite d States ; (c ) i n bond s o r othe r evidence s o f indebtednes s o f a chartere d city , province , o r municipalit y o f th e Philippin e Islands ; (d ) i n securitie s th e principa l an d interes t whereo f ar e guarantee d b y th e Governmen t o f th e Unite d State s o r o f th e Philippin e Islands ; (e ) i n Manil a Railroa d Co . souther n line s bond s issue d unde r Ac t No . 1905 . Sinc e th e passag e o f thes e act s th e treasure r o f th e Philippin e Island s ha s transferre d th e followin g amount s t o thi s Burea u fo r investment :

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4 4 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Prio r year s Yea r endin g Jun e 30 — Tota l Prio r year s 193 2 193 3 Tota l Sinkin g fund s $23,368,474 . 0 8 1 , 684,868 . 8 9 $2 , 988,039.8 3 483 , 786.1 4 2,035 , 000 . 0 0 $2 , 776,910.1 7 488 , 736 . 8 1 1 , 550 , 000 . 0 0 $29,133 , 424 . O S 2 , 657 , 391 . 8 4 3,585,000.0 0 Trus t fund s Financia l interes t protectio n bon d fund . $23,368,474 . 0 8 1 , 684,868 . 8 9 $2 , 988,039.8 3 483 , 786.1 4 2,035 , 000 . 0 0 $2 , 776,910.1 7 488 , 736 . 8 1 1 , 550 , 000 . 0 0 $29,133 , 424 . O S 2 , 657 , 391 . 8 4 3,585,000.0 0 Tota l $2 , 988,039.8 3 483 , 786.1 4 2,035 , 000 . 0 0 $2 , 776,910.1 7 488 , 736 . 8 1 1 , 550 , 000 . 0 0 $29,133 , 424 . O S 2 , 657 , 391 . 8 4 3,585,000.0 0 Tota l 25 , 053 , 342.9 7 5 , 506 , 825 . 9 7 4 , 815,646.9 8 35,375,815 . 9 2 A t a cos t o f $33,091,939.14 , bond s o f th e fac e valu e o f $33,064,00 0 hav e bee n purchase d fro m th e abov e funds . Include d i n thes e pur chase s wer e $920,00 0 pa r valu e o f Manil a port work s an d improve ment s 5K-percen t bond s bough t a t a cos t o f $944,438.35 , th e entir e issu e o f whic h wa s cancele d o n Septembe r 2 , 1930 . Al l othe r bond s purchase d ar e include d i n th e followin g statemen t o f securities , eithe r purchase d b y thi s Burea u fo r accoun t o f th e Governmen t o f th e Philippin e Island s o r deposite d wit h thi s Burea u b y th e insula r treasurer , t o b e hel d fo r hi s accoun t i n th e Unite d State s pendin g cancelatio n o r othe r disposition . Sinking and other fund investments Prio r year s Yea r endin g Jun e 30 — 193 2 193 3 Tota l Philippine government : Collatera l bonds : 4^'s , du e 195 0 (Manila ) 4^'s , du e 195 6 (Iloilo ) 4^'s , du e 195 6 (Occidenta l Negros ) 4M's , du e 195 6 (Pangasinan ) 4^'s , du e 195 6 (Iloco s Norte ) 4^'s , du e 195 7 (Provincial ) 4M's , du e 195 7 (Camarine s Sur ) 4 1 />'s , du e 195 7 (Laguna ) 4H's , du e 195 8 (Manila ) General : 43^'s , du e 195 2 5's , du e 1952 . 5's , du e 1955 , metropolita n wate r distric t 43^'s , du e 1959 , metropolita n wate r distric t Lan d purchase , 4's , du e 1934 . Manil a R.R . Co . purchase , 4's , du e 194 6 Publi c improvement : 4's , du e 193 5 4's , du e 193 6 4's , du e 193 9 5y/s , du e 194 1 4)^'s , du e 1952 , irrigatio n an d permanen t publi c work s 4K's , du e 1958 , Ceb u por t work s 4^'s , du e 1959 , Ceb u por t works . 4^'s , du e 1958 , Iloil o por t work s 4J^'s , du e 1959 , Iloil o por t work s Municipal : Cit y o f Ceb u 4's , du e 194 1 Cit y o f Manil a 4's , du e 193 5 Cit y o f Manil a 4's , du e 193 7 Cit y o f Manil a 4's , du e 1938.. . Cit y o f Manil a 5H's , du e 1950 . Cit y o f Manil a 4^'s , du e 195 9 Railroad : Manil a R.R . Co . 7's , du e 193 7 Manil a R.R . Co . 4's , du e 1939. . Philippine Ry . Co . 4's , du e 193 7 Unite d State s Government : Fourt h Libert y Loa n $568,00 0 976 , 50 0 400,00 0 428 , 50 0 274 , 00 0 485 , 00 0 63,00 0 500,00 0 4 , 526,00 0 993,00 0 686,00 0 100 , 00 0 2 , 664 , 00 0 1,496,00 0 965,00 0 659 , 00 0 856 , 00 0 1 , 609 , 00 0 5 , 493 , 00 0 525 , 00 0 218,00 0 45,00 0 584,00 0 1,157,00 0 524,00 0 2,750 , 00 0 299,00 0 687,00 0 1 , 273,00 0 75 , 00 0 $172,00 0 60 , 00 0 25,00 0 2,00 0 1 , 814,00 0 912,00 0 322 , 00 0 25,00 0 1,007,00 0 38 , 00 0 98 , 00 0 4,00 0 55,00 0 1,448,00 0 641,00 0 25 , 00 0 39,00 0 102,00 0 10,00 0 5,00 0 73,00 0 27 , 00 0 1,00 0 55,00 0 201,00 0 $31,00 0 376,00 0 276,00 0 288 , 00 0 22,00 0 555,00 0 205 , 00 0 6 , 00 0 14,00 0 16 , 00 0 583,00 0 200,00 0 20,00 0 16 , 00 0 30,00 0 7,00 0 26,00 0 26,00 0 14,00 0 21,00 0 87 , 00 0 128,00 0 $771,00 0 976 , 50 0 400,00 0 428,50 0 274,00 0 *45 , 00 0 88,00 0 2,00 0 500,00 0 6,716,00 0 2,181,00 0 1 , 296,00 0 147,00 0 4,226,00 0 1,739,00 0 1 , 069,00 0 677,00 0 927,00 0 3 , 640,00 0 6,334,00 0 570,00 0 55,00 0 350,00 0 10,00 0 52,00 0 615 , 00 0 1,256,00 0 565,00 0 2 , 750.00 0 321,00 0 829,00 0 329,00 0 1 , 273,00 0 75,00 0 Total . 31,879,00 0 7,161,00 0 2 , 947 , 00 0 41 , 987 , 00 0

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45 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Unde r th e provision s o f sectio n 2 o f Ac t No . 3014 , th e followin g bonds , include d i n th e precedin g lis t o f bond s purchased , hav e bee n canceled : Collatera l bonds : du e 195 0 (Manila ) $443 , 00 0 4>4's , du e 195 6 (Iloilo ) 12 , 00 0 4K's , du e 195 7 (Provincial ) 115 , 00 0 4#s , du e 195 7 (Camarine s Sur ) 1 , 00 0 4y 2 's , du e 195 8 (Manila ) 28 , 00 0 Genera l bonds : 4H's , du e 195 2 4 , 041 , 00 0 5's , du e 195 2 835 , 00 0 5's , du e 1955 , metropolita n wate r distric t 227 , 00 0 4%'s , du e 1959 , metropolita n wate r distric t 1 , 00 0 Lan d purchase : 4's , du e 193 4 3 , 635 , 00 0 Manil a R.R . Co . purchase : 4's , du e 194 6 1 , 345 , 00 0 Publi c improvement : 4's , du e 193 5 975 , 00 0 4's , du e 193 6 592,00 0 4's , du e 193 9 856 , 00 0 5}4's , du e 194 1 1,732,00 0 4}4's , du e 1952 , irrigatio n an d permanen t publi c work s 2 , 410 , 00 0 4y 2 's , du e 1958 , Ceb u por t work s 30 , 00 0 4y 2 's , du e 1959 , Ceb u por t work s 22 , 00 0 4 1 / 2 's , du e 195 8 Iloil o por t work s 60 , 00 0 4J/ 2 's , du e 195 9 Iloil o por t work s 10 , 00 0 Municipal : Cit y o f Ceb u 4's , du e 194 1 40 , 00 0 Cit y o f Manil a 4's , du e 193 5 549 , 00 0 Cit y o f Manil a 4's , du e 193 7 1 , 134 , 00 0 Cit y o f Manil a 4's , du e 193 8 366 , 00 0 Cit y o f Manil a 4J/ 2 's , du e 195 9 2 , 00 0 Tota l 19,461,00 0 Al l cancele d bond s hav e bee n shippe d t o th e audito r o f th e Philip pin e Islands . Thi s leave s $22,526,00 0 i n securitie s actuall y hel d i n thi s Burea u fo r accoun t o f th e Philippin e Governmen t o n Jun e 30 , 1933 . RAILWA Y BOND S Th e bond s o f railroads , guarantee d a s t o interes t b y th e Philippin e government , outstandin g are : Manil a R.R . Co . (souther n lines ) 4 percen t bonds , du e 193 9 $10 , 586 , 00 0 Manil a R.R . Co . (souther n lines ) 4 percen t bonds , du e 195 9 1 , 069 , 00 0 Manil a R.R . Co . 7 percen t sinkin g fun d bonds , du e 193 7 1 1 , 500 , 00 0 Philippin e Ry . Co . first-mortgage 4 percen t bonds , du e 193 7 8 , 549 , 00 0 Tota l 21,704,00 0 N o bond s o f th e Manil a Railroa d Co . wer e purchase d fro m sinkin g fund s o f sai d compan y no r wer e an y bond s cancele d durin g th e pas t year . Th e pa r valu e o f th e bond s hel d i n safekeepin g b y th e truste e o n Jun e 30 , 1933 , amounte d t o $390,00 0 ; o f these , $355,00 0 bond s wer e du e i n 193 9 an d $35,00 0 bond s wer e du e i n 1959 . i Th e paymen t o f th e principa l o f thi s issu e o f bond s i s als o guarantee d b y th e Philippin e government. .

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4 6 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • COINAG E Th e ne w coi n receive d durin g th e yea r 1932 , includin g recoinage , consiste d o f ^197,793.0 5 o f th e 5-centav o denominatio n an d f*40,00 0 o f th e 1-centav o denomination . O n Decembe r 31 , 1932 , th e tota l amoun t i n circulatio n an d availabl e therefo r wa s 5P40,726,514.28 , consistin g o f th e following : Pesos 1 P21 , 889 , 679 . 0 0 5 0 centavo s 6 , 272 , 494 . 5 0 Subsidiar y coin s 9 , 427 , 424 . 0 0 Mino r coin s 3 , 136 , 916 . 7 8 Tota l 40,726,514.2 8 INSULA R RECEIPT S AN D DISBURSEMENT S Th e followin g i s a statemen t o f insula r receipt s an d disbursement s o f th e Philippin e Islands , exclusiv e o f al l item s o f a refundabl e character , expresse d i n Unite d State s currency , fo r fisca l (calendar ) year s 1929 , 1930 , 1931 , an d 1932 : Yea r endin g Dec . 31 — 192 9 193 0 193 1 193 2 CREDIT S Balanc e fro m prio r year s .Revenues : Customs. . $34 , 673 , 756 . 0 0 $39 , 918,081 . 4 0 $36 , 528 , 286 . 0 3 $31,961 , 288.4 7 CREDIT S Balanc e fro m prio r year s .Revenues : Customs. . 12 , 829,104 . 7 8 21 , 962 , 415 . 9 8 1,086,515 . 1 5 10 , 513 , 550 . 9 4 679 , 000 . 0 0 11 , 243 , 783 . 5 0 19,855 , 614 . 5 3 1 , 318 , 560 . 0 9 11,463,416.8 2 3 , 610 , 840 . 0 2 10 , 243 , 860.0 5 20,159 , 670 . 6 7 8 , 247,978 . 0 0 20,455,933 . 5 2 Interna l Repaymen t o f Philippin e Nationa l Ban k losses , Ac t 317 4 12 , 829,104 . 7 8 21 , 962 , 415 . 9 8 1,086,515 . 1 5 10 , 513 , 550 . 9 4 679 , 000 . 0 0 11 , 243 , 783 . 5 0 19,855 , 614 . 5 3 1 , 318 , 560 . 0 9 11,463,416.8 2 3 , 610 , 840 . 0 2 10 , 243 , 860.0 5 20,159 , 670 . 6 7 8 , 247,978 . 0 0 20,455,933 . 5 2 Miscellaneous . 12 , 829,104 . 7 8 21 , 962 , 415 . 9 8 1,086,515 . 1 5 10 , 513 , 550 . 9 4 679 , 000 . 0 0 11 , 243 , 783 . 5 0 19,855 , 614 . 5 3 1 , 318 , 560 . 0 9 11,463,416.8 2 3 , 610 , 840 . 0 2 11 , 094 , 297 . 5 2 258,383 . 0 0 8 , 654,474.6 1 Proceed s fro m sal e o f bond s 12 , 829,104 . 7 8 21 , 962 , 415 . 9 8 1,086,515 . 1 5 10 , 513 , 550 . 9 4 679 , 000 . 0 0 11 , 243 , 783 . 5 0 19,855 , 614 . 5 3 1 , 318 , 560 . 0 9 11,463,416.8 2 3 , 610 , 840 . 0 2 11 , 094 , 297 . 5 2 258,383 . 0 0 8 , 654,474.6 1 Tota l revenue s Tota l credit s DEBIT S Expenditures : Bureau s an d office s Revenu e servic e Publi c deb t Publi c work s an d equipmen t Miscellaneou s 12 , 829,104 . 7 8 21 , 962 , 415 . 9 8 1,086,515 . 1 5 10 , 513 , 550 . 9 4 679 , 000 . 0 0 11 , 243 , 783 . 5 0 19,855 , 614 . 5 3 1 , 318 , 560 . 0 9 11,463,416.8 2 3 , 610 , 840 . 0 2 11 , 094 , 297 . 5 2 258,383 . 0 0 Tota l revenue s Tota l credit s DEBIT S Expenditures : Bureau s an d office s Revenu e servic e Publi c deb t Publi c work s an d equipmen t Miscellaneou s 47 , 070 , 586 . 8 5 47 , 492 , 214' . 9 6 41,756 , 211.2 4 37,358,386.1 3 Tota l revenue s Tota l credit s DEBIT S Expenditures : Bureau s an d office s Revenu e servic e Publi c deb t Publi c work s an d equipmen t Miscellaneou s 81,744 , 342.8 5 87 , 410 , 296 . 3 6 78 , 284,497 . 2 7 69,319 , 674 . 6 0 Tota l revenue s Tota l credit s DEBIT S Expenditures : Bureau s an d office s Revenu e servic e Publi c deb t Publi c work s an d equipmen t Miscellaneou s 18 , 470,937 . 9 9 4 , 916 , 536 . 0 1 5 , 040 , 792 . 4 7 2,119 , 502.1 6 114 , 404 . 2 9 9,809,466 . 8 5 1,354,621.6 8 19,083,146.6 1 4,863 , 625 . 2 5 9 , 747,870 . 6 3 4,133 , 415 . 2 8 131 , 985 . 5 5 9 , 562 , 536 . 3 2 3 , 053 , 200.8 0 306 , 229.8 9 15 , 866 , 265 . 5 2 5 , 380 , 944 . 4 8 4 , 904 , 420 . 6 3 4,065 , 216 . 5 1 75 , 749.1 0 13,418,469 . 2 4 1,889,455 . 6 7 722,687.65 " 31,961 , 288 . 4 7 14 , 777 , 537.4 4 4 , 578 , 466.4 2 4 , 520,445 . 3 3 3,376,126 . 3 2 401 , 658 . 7 5 11,235,413 . 3 7 344,866 . 2 0 613,929.7 8 29,471,230.9 9 Ai d t o provinces , cities , an d munic ipalitie s Purchas e o f investment s an d secu ritie s .. . Deferre d credit s t o incom e o f prio r year s 18 , 470,937 . 9 9 4 , 916 , 536 . 0 1 5 , 040 , 792 . 4 7 2,119 , 502.1 6 114 , 404 . 2 9 9,809,466 . 8 5 1,354,621.6 8 19,083,146.6 1 4,863 , 625 . 2 5 9 , 747,870 . 6 3 4,133 , 415 . 2 8 131 , 985 . 5 5 9 , 562 , 536 . 3 2 3 , 053 , 200.8 0 306 , 229.8 9 15 , 866 , 265 . 5 2 5 , 380 , 944 . 4 8 4 , 904 , 420 . 6 3 4,065 , 216 . 5 1 75 , 749.1 0 13,418,469 . 2 4 1,889,455 . 6 7 722,687.65 " 31,961 , 288 . 4 7 14 , 777 , 537.4 4 4 , 578 , 466.4 2 4 , 520,445 . 3 3 3,376,126 . 3 2 401 , 658 . 7 5 11,235,413 . 3 7 344,866 . 2 0 613,929.7 8 29,471,230.9 9 Pension s an d gratuitie s 1 19,083,146.6 1 4,863 , 625 . 2 5 9 , 747,870 . 6 3 4,133 , 415 . 2 8 131 , 985 . 5 5 9 , 562 , 536 . 3 2 3 , 053 , 200.8 0 306 , 229.8 9 15 , 866 , 265 . 5 2 5 , 380 , 944 . 4 8 4 , 904 , 420 . 6 3 4,065 , 216 . 5 1 75 , 749.1 0 13,418,469 . 2 4 1,889,455 . 6 7 722,687.65 " 31,961 , 288 . 4 7 14 , 777 , 537.4 4 4 , 578 , 466.4 2 4 , 520,445 . 3 3 3,376,126 . 3 2 401 , 658 . 7 5 11,235,413 . 3 7 344,866 . 2 0 613,929.7 8 29,471,230.9 9 :Surplu s . Tota l debit s 39 , 918,081 . 4 0 36 , 528 , 286 . 0 3 15 , 866 , 265 . 5 2 5 , 380 , 944 . 4 8 4 , 904 , 420 . 6 3 4,065 , 216 . 5 1 75 , 749.1 0 13,418,469 . 2 4 1,889,455 . 6 7 722,687.65 " 31,961 , 288 . 4 7 14 , 777 , 537.4 4 4 , 578 , 466.4 2 4 , 520,445 . 3 3 3,376,126 . 3 2 401 , 658 . 7 5 11,235,413 . 3 7 344,866 . 2 0 613,929.7 8 29,471,230.9 9 :Surplu s . Tota l debit s 81 , 744 , 342 . 8 5 87 , 410 , 296 . 3 6 78,284,497.2 7 69 , 319,674.6 0 1 Prio r t o 1931 , include d i n ite m o f bureau s an d offices . 1 Th e Philippin e pes o equal s 5 0 cent s Unite d State s currency .

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APPENDI X E PUERT O RIC O Total foreign trade 1 2 month s endin g Jun e 30 — Consignment s Shipment s 1 2 month s endin g Jun e 30 — Fro m Unite d State s Fro m foreig n countrie s Tota l T o Unite d State s T o foreig n countrie s Tota l 192 4 $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 1925 . $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 1926 . $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 192 7 $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 192 8 $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 1929 . $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 193 0 $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 1931 . — $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 1932 . — $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 193 3 $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 $80 , 586,69 9 79,198 , 56 5 83,056 , 55 3 87 , 049,96 2 79,701,91 1 85,078,69 6 73,078,77 9 68,018,16 7 52,826,79 4 48,886,84 4 $8 , 782 , 92 5 11 , 306,03 6 12 , 201 , 71 1 11,760 , 78 8 12 , 640 , 41 8 12 , 782,16 4 10 , 844,05 0 8,419 , 24 3 8 , 454,30 7 5,858,86 7 $89,369,62 4 90 , 504,60 1 95 , 258 , 26 4 98,810,75 0 92,342,32 9 97 , 860,76 0 83 , 922,82 9 76,437,41 0 61,281,10 1 54 , 745 , 71 1 $80,754,97 5 84 , 411 , 79 2 88,106 , 57 0 99 , 223,15 4 96 , 662,61 9 76 , 471,82 9 95,097,64 0 94,876,99 7 83 , 645,86 3 73 , 387,49 8 $7 , 525 , 56 5 10 , 407,15 2 10 , 618 , 28 1 8,844 , 28 0 6 , 872,12 0 5 , 251,04 1 4 , 468,56 5 3 , 523 , 93 0 2 , 771 , 07 5 2,018 , 95 7 $88 , 280 , 54 0 94,818,94 4 98 , 724,85 1 108 , 067,43 4 103 , 534,73 9 81,722,87 0 99 , 566 , 20 5 98,400 , 92 7 86 , 416 , 93 8 75,406,45 5 Sugar shipments 1 1 2 month s endin g Jun e 30 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d 192 4 1925_ _ 1926 — 192 7 1928 . — 1929— 193 0 1931 — 19 3 2 19 3 3 Long tons 332,18 0 510,32 1 516 , 79 5 513 , 27 6 540 , 73 2 421,81 4 643,94 4 720,38 0 814,66 0 734,75 4 $47,838,68 7 53 , 261,89 5 48 , 223 , 25 8 54 , 756 , 98 4 54 , 579 , 02 0 35,224,03 8 53 , 670 , 03 8 54 , 367 , 40 1 55,118,21 1 50,780 , 58 3 Cents 6 . 4 3 4 . 6 6 4.1 7 4 . 7 6 4 . 5 1 3 . 7 3 3 . 7 2 3 . 3 7 3 . 0 2 3 . 0 9 Long tons 331,92 1 510,16 6 516,61 2 513,16 9 540 , 58 6 421 , 79 2 643 , 90 1 720 , 36 9 814 , 64 2 734 , 75 3 $47 , 792,60 2 53 , 240 , 48 0 48 , 201 , 88 3 54 , 743 , 03 2 54 , 569 , 76 4 35 , 222,14 4 53 , 667 , 06 3 54 , 366,13 3 55,116,97 5 50 , 780,42 2 Cents 6.4 3 4.6 6 4.1 7 4 . 7 6 4 . 5 1 3 . 7 3 3 . 7 2 3 . 3 7 3 . 0 2 3 . 0 9 1 Include s refine d sugar , separatel y show n 1929-1933 , a s follows : 1 2 month s endin g Jun e 30 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d 1929 — 19 3 0 19 3 1 1932 . — 193 3 — Long tons 38,07 3 53,74 1 75,03 3 85,54 9 85,40 5 $3,892,52 2 6,142,74 4 7,427,88 7 7,838 , 65 0 7,052 , 65 2 Cents 4.5 6 5.1 0 4.4 2 4.0 9 3.6 9 Long tons 38,05 1 53,69 8 75,02 1 85,53 1 85,40 4 $3,890,62 8 6,139 , 76 9 7,427 , 06 8 7,837 , 41 4 7,052,49 1 Cents 4.5 6 5.1 0 4.4 2 4.0 9 3 . 6 9 4 7

PAGE 52

4 8 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Coffee shipments 1 2 month s endin g Jun e 30 — Tota l Shipment s t o Unite d States 1 1 2 month s endin g Jun e 30 — Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d Pounds Cents Pounds Cents 192 4 21,859,21 5 $4 , 595,81 1 21.0 3 318,08 6 $71,15 8 22.3 7 192 5 23 , 782,99 6 6 , 575 , 63 5 27.6 5 261,15 5 66,86 2 25.6 0 192 6 26 , 332 , 76 6 7,071 , 40 7 26.8 5 624,04 5 170 , 20 1 27.2 7 192 7 19,356,90 4 5,748,87 7 29.7 0 178,08 2 52,05 9 29 . 2 3 192 8 7,837,80 0 2 , 596 , 87 2 33.1 3 52 , 22 1 13 , 27 6 25 . 4 2 192 9 1 , 278 , 61 5 456 , 83 1 35.7 3 579 , 73 2 208,95 4 36.0 4 1930__ _ 433,90 1 151,55 0 34.9 2 262,84 9 95,25 0 36.2 4 193 1 1,977 , 65 9 546,43 8 27 . 6 3 1,751,01 3 488 , 71 1 27.9 1 1932.. . 589,60 2 154 , 90 3 26 . 2 7 544 , 73 7 145,80 6 26.7 7 193 3 549,81 5 124 , 54 2 22 . 6 5 498 , 21 4 115 , 25 3 23.1 3 i Include s coffe e fo r transshipmen t t o foreig n countrie s amountin g t o 259,68 3 pounds , value d a t $94,15 0 i n 1930 , 1,535,28 4 pound s value d a t $428,61 3 i n 1931 , 543,37 0 pound s value d a t $145,45 2 i n 1932 , an d 491,86 5 pound s value d a t $113,63 9 i n 1933 . Leaf-tohacco shipments 1 2 month s endin g Jun e 30 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Quantit y Valu e Valu e pe r poun d Quantit y Valu e Valu e pe r poun d 192 4 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 192 5 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 192 6 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 192 7 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 192 8 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 192 9 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 193 0 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 193 1 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 193 2 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 193 3 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 Pounds 19,944 , 65 3 18,002,34 0 20 , 513 , 59 4 26 , 027,23 9 26 , 782 , 08 4 19,342,00 9 18,952 , 27 0 19,928 , 79 6 12,028 , 56 6 9 , 041,77 7 $12 , 578 , 44 8 9,156,48 0 13,124,64 3 19,496 , 50 8 15,479 , 82 0 11 , 220 , 26 4 10 , 602,45 8 12,053,86 3 5,782,15 1 3,694,14 7 Cents 63.0 7 50.8 6 63.9 8 74.9 1 57 . 8 0 58 . 0 1 55.9 0 60.4 8 48 . 0 7 40 . 8 6 Pounds 19,834,15 1 17,766,03 3 20 , 513 , 59 4 25 , 975,32 1 26,654,45 8 19 , 314,16 0 18,928,38 1 19 , 918 , 03 4 11,962,86 6 9,039,17 1 $12 , 557 , 34 9 9,123 , 99 5 13,124 , 64 3 19,489,31 1 15,466,78 1 11 , 216 , 64 0 10 , 599 , 55 2 12,052,33 1 5,781,03 7 3 , 693,76 5 Cents 63.3 1 51.3 6 63.9 8 75.0 3 58.0 3 58.0 7 56.0 0 60.5 1 48.3 2 40.8 6 Cigar shipments 1 2 month s endin g Jun e 30 — Tota l Shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Quantit y Valu e Valu e pe r thousan d Quantit y Valu e Valu e pe r thousan d Thousands Thousands 192 4 175,28 9 $5,460,11 9 $31.1 5 175,25 1 $5,458,88 0 $31.1 5 192 5 196,66 0 7,105 , 50 8 36.1 5 196,55 3 7,105,31 3 36.1 5 192 6 214,54 6 7,196 , 36 5 33 . 5 4 214,54 6 7,196,36 5 33.5 4 192 7 160,80 4 4,227,57 6 26.2 9 160,80 4 4 , 227,57 6 26.2 9 192 8 144,37 8 3,625,56 1 25.1 1 144 , 37 8 3 , 625,56 1 25.1 1 1929_ _ 158,65 6 3,847,79 7 24 . 2 6 158 , 65 6 3,847,79 7 24 . 2 6 193 0 145 , 56 6 3,408 , 72 1 23 . 4 2 145,56 6 3,408,72 1 23.4 2 193 1 166,98 6 3,899 , 55 6 23 . 3 5 166,98 6 3,899 , 55 6 23.3 5 193 2 122,45 5 2,403,53 2 19.6 3 122,45 5 2,403 , 53 2 19 . 6 3 193 3 63,04 4 1,284,28 9 20.3 7 63,04 4 1 , 284 , 28 9 20 . 3 7

PAGE 53

49 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Fruit shipments 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 192 4 $3,807,56 7 4,202,84 0 6 , 009,84 0 5,823,75 1 6 , 824 , 80 2 $3,791,73 5 4,187,78 8 5,994,46 4 5,792,43 3 6,811,90 8 192 9 $2 , 850 , 72 2 7,671,61 7 4,884 , 79 9 4,321,13 5 2 , 278,99 1 $2,843,21 3 7,480 , 22 2 4 , 573 , 78 9 4,101,61 7 2,188,47 4 192 5 $3,807,56 7 4,202,84 0 6 , 009,84 0 5,823,75 1 6 , 824 , 80 2 $3,791,73 5 4,187,78 8 5,994,46 4 5,792,43 3 6,811,90 8 193 0 $2 , 850 , 72 2 7,671,61 7 4,884 , 79 9 4,321,13 5 2 , 278,99 1 $2,843,21 3 7,480 , 22 2 4 , 573 , 78 9 4,101,61 7 2,188,47 4 192 6 $3,807,56 7 4,202,84 0 6 , 009,84 0 5,823,75 1 6 , 824 , 80 2 $3,791,73 5 4,187,78 8 5,994,46 4 5,792,43 3 6,811,90 8 193 1 $2 , 850 , 72 2 7,671,61 7 4,884 , 79 9 4,321,13 5 2 , 278,99 1 $2,843,21 3 7,480 , 22 2 4 , 573 , 78 9 4,101,61 7 2,188,47 4 192 7 $3,807,56 7 4,202,84 0 6 , 009,84 0 5,823,75 1 6 , 824 , 80 2 $3,791,73 5 4,187,78 8 5,994,46 4 5,792,43 3 6,811,90 8 193 2 $2 , 850 , 72 2 7,671,61 7 4,884 , 79 9 4,321,13 5 2 , 278,99 1 $2,843,21 3 7,480 , 22 2 4 , 573 , 78 9 4,101,61 7 2,188,47 4 192 8 $3,807,56 7 4,202,84 0 6 , 009,84 0 5,823,75 1 6 , 824 , 80 2 $3,791,73 5 4,187,78 8 5,994,46 4 5,792,43 3 6,811,90 8 193 3 $2 , 850 , 72 2 7,671,61 7 4,884 , 79 9 4,321,13 5 2 , 278,99 1 $2,843,21 3 7,480 , 22 2 4 , 573 , 78 9 4,101,61 7 2,188,47 4 $3,807,56 7 4,202,84 0 6 , 009,84 0 5,823,75 1 6 , 824 , 80 2 $3,791,73 5 4,187,78 8 5,994,46 4 5,792,43 3 6,811,90 8 $2 , 850 , 72 2 7,671,61 7 4,884 , 79 9 4,321,13 5 2 , 278,99 1 $2,843,21 3 7,480 , 22 2 4 , 573 , 78 9 4,101,61 7 2,188,47 4 Coconut shipments 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 192 4 $616,48 4 720,18 9 625,98 9 628,19 6 713 , 99 2 $605,12 9 709,85 3 611,97 7 612,68 4 697 , 97 2 1929 . $264,77 8 233 , 08 4 232 , 38 8 268 , 70 8 152,05 5 $249,66 5 218,78 7 232,38 8 268 , 70 8 152,05 5 192 5 $616,48 4 720,18 9 625,98 9 628,19 6 713 , 99 2 $605,12 9 709,85 3 611,97 7 612,68 4 697 , 97 2 193 0 $264,77 8 233 , 08 4 232 , 38 8 268 , 70 8 152,05 5 $249,66 5 218,78 7 232,38 8 268 , 70 8 152,05 5 192 6 $616,48 4 720,18 9 625,98 9 628,19 6 713 , 99 2 $605,12 9 709,85 3 611,97 7 612,68 4 697 , 97 2 193 1 $264,77 8 233 , 08 4 232 , 38 8 268 , 70 8 152,05 5 $249,66 5 218,78 7 232,38 8 268 , 70 8 152,05 5 192 7 $616,48 4 720,18 9 625,98 9 628,19 6 713 , 99 2 $605,12 9 709,85 3 611,97 7 612,68 4 697 , 97 2 1932_ _ $264,77 8 233 , 08 4 232 , 38 8 268 , 70 8 152,05 5 $249,66 5 218,78 7 232,38 8 268 , 70 8 152,05 5 1928 _ — $616,48 4 720,18 9 625,98 9 628,19 6 713 , 99 2 $605,12 9 709,85 3 611,97 7 612,68 4 697 , 97 2 193 3 $264,77 8 233 , 08 4 232 , 38 8 268 , 70 8 152,05 5 $249,66 5 218,78 7 232,38 8 268 , 70 8 152,05 5 $616,48 4 720,18 9 625,98 9 628,19 6 713 , 99 2 $605,12 9 709,85 3 611,97 7 612,68 4 697 , 97 2 $264,77 8 233 , 08 4 232 , 38 8 268 , 70 8 152,05 5 $249,66 5 218,78 7 232,38 8 268 , 70 8 152,05 5 Embroidery shipments 1 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 192 4 $7,253,55 6 5,833,91 8 8 , 336 , 39 8 9,225,50 7 9,285 , 79 0 $7,130,89 1 5,705,47 2 8,153 , 50 6 9 , 024,77 5 8,907,80 1 192 9 $15,151,04 0 13,004,72 5 13,665,49 2 10 , 322 , 78 5 10 , 578,36 6 $14 , 732 , 26 0 12 , 522,35 9 13 , 202 , 42 3 10,261 , 28 3 10,434,43 2 192 5 — $7,253,55 6 5,833,91 8 8 , 336 , 39 8 9,225,50 7 9,285 , 79 0 $7,130,89 1 5,705,47 2 8,153 , 50 6 9 , 024,77 5 8,907,80 1 193 0 $15,151,04 0 13,004,72 5 13,665,49 2 10 , 322 , 78 5 10 , 578,36 6 $14 , 732 , 26 0 12 , 522,35 9 13 , 202 , 42 3 10,261 , 28 3 10,434,43 2 192 6 $7,253,55 6 5,833,91 8 8 , 336 , 39 8 9,225,50 7 9,285 , 79 0 $7,130,89 1 5,705,47 2 8,153 , 50 6 9 , 024,77 5 8,907,80 1 193 1 $15,151,04 0 13,004,72 5 13,665,49 2 10 , 322 , 78 5 10 , 578,36 6 $14 , 732 , 26 0 12 , 522,35 9 13 , 202 , 42 3 10,261 , 28 3 10,434,43 2 192 7 $7,253,55 6 5,833,91 8 8 , 336 , 39 8 9,225,50 7 9,285 , 79 0 $7,130,89 1 5,705,47 2 8,153 , 50 6 9 , 024,77 5 8,907,80 1 1932 _ $15,151,04 0 13,004,72 5 13,665,49 2 10 , 322 , 78 5 10 , 578,36 6 $14 , 732 , 26 0 12 , 522,35 9 13 , 202 , 42 3 10,261 , 28 3 10,434,43 2 192 8 $7,253,55 6 5,833,91 8 8 , 336 , 39 8 9,225,50 7 9,285 , 79 0 $7,130,89 1 5,705,47 2 8,153 , 50 6 9 , 024,77 5 8,907,80 1 193 3 $15,151,04 0 13,004,72 5 13,665,49 2 10 , 322 , 78 5 10 , 578,36 6 $14 , 732 , 26 0 12 , 522,35 9 13 , 202 , 42 3 10,261 , 28 3 10,434,43 2 $7,253,55 6 5,833,91 8 8 , 336 , 39 8 9,225,50 7 9,285 , 79 0 $7,130,89 1 5,705,47 2 8,153 , 50 6 9 , 024,77 5 8,907,80 1 $15,151,04 0 13,004,72 5 13,665,49 2 10 , 322 , 78 5 10 , 578,36 6 $14 , 732 , 26 0 12 , 522,35 9 13 , 202 , 42 3 10,261 , 28 3 10,434,43 2 1 Needlewor k product s o n cotton . All other shipments 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 1 2 month s endin g Jun e 30 — Tota l valu e Valu e o f shipment s t o Unite d State s 192 4 $6,129,86 8 7,962,47 9 8,136,95 1 8,160,03 5 10,428,88 2 $3,347,23 1 ~4,272,02 9 4,653 , 53 1 5 , 281,28 4 6,569,65 6 192 9 $12 , 707,40 0 10,824,01 2 8,837 , 34 6 8 , 045,51 3 6 , 513,48 2 $8,151,15 6 7,105,68 6 6,061,66 6 5 , 566,11 5 4 , 738,80 8 192 5 _ $6,129,86 8 7,962,47 9 8,136,95 1 8,160,03 5 10,428,88 2 $3,347,23 1 ~4,272,02 9 4,653 , 53 1 5 , 281,28 4 6,569,65 6 193 0 $12 , 707,40 0 10,824,01 2 8,837 , 34 6 8 , 045,51 3 6 , 513,48 2 $8,151,15 6 7,105,68 6 6,061,66 6 5 , 566,11 5 4 , 738,80 8 192 6 $6,129,86 8 7,962,47 9 8,136,95 1 8,160,03 5 10,428,88 2 $3,347,23 1 ~4,272,02 9 4,653 , 53 1 5 , 281,28 4 6,569,65 6 1931 _ $12 , 707,40 0 10,824,01 2 8,837 , 34 6 8 , 045,51 3 6 , 513,48 2 $8,151,15 6 7,105,68 6 6,061,66 6 5 , 566,11 5 4 , 738,80 8 192 7 $6,129,86 8 7,962,47 9 8,136,95 1 8,160,03 5 10,428,88 2 $3,347,23 1 ~4,272,02 9 4,653 , 53 1 5 , 281,28 4 6,569,65 6 193 2 $12 , 707,40 0 10,824,01 2 8,837 , 34 6 8 , 045,51 3 6 , 513,48 2 $8,151,15 6 7,105,68 6 6,061,66 6 5 , 566,11 5 4 , 738,80 8 192 8 $6,129,86 8 7,962,47 9 8,136,95 1 8,160,03 5 10,428,88 2 $3,347,23 1 ~4,272,02 9 4,653 , 53 1 5 , 281,28 4 6,569,65 6 193 3 $12 , 707,40 0 10,824,01 2 8,837 , 34 6 8 , 045,51 3 6 , 513,48 2 $8,151,15 6 7,105,68 6 6,061,66 6 5 , 566,11 5 4 , 738,80 8 $6,129,86 8 7,962,47 9 8,136,95 1 8,160,03 5 10,428,88 2 $3,347,23 1 ~4,272,02 9 4,653 , 53 1 5 , 281,28 4 6,569,65 6 $12 , 707,40 0 10,824,01 2 8,837 , 34 6 8 , 045,51 3 6 , 513,48 2 $8,151,15 6 7,105,68 6 6,061,66 6 5 , 566,11 5 4 , 738,80 8

PAGE 54

APPENDI X F PUERT O RIC O BONDE D INDEBTEDNES S Unde r a n ac t o f Congres s approve d Marc h 4 , 1927 , th e insula r governmen t o f Puert o Ric o an d th e municipalitie s o f Sa n Jua n an d Ponc e ar e authorize d t o incu r publi c indebtednes s u p t o 1 0 percen t o f th e aggregat e ta x valuatio n o f thei r respectiv e properties ; othe r municipalitie s ar e limite d t o a publi c indebtednes s no t i n exces s o f 5 percen t o f thei r respectiv e taxabl e properties . Bond s o f Puert o Rico , whic h ar e secure d b y a n equivalen t pa r valu e o f bond s o f munici pa l corporation s o r schoo l board s o f Puert o Rico , ar e no t t o b e counte d withi n th e 1 0 percen t limitation , bu t bond s issue d b y municipalitie s o r an y subdivisio n thereo f afte r Marc h 4 , 1927 , t o th e paymen t o f whic h th e goo d fait h o f th e peopl e o f Puert o Ric o i s pledged , ar e t o b e counte d therein . Durin g th e yea r additiona l bond s o f th e insula r governmen t o f Puert o Ric o wer e issue d wit h a pa r valu e o f $846,000 . Th e proceed s fro m a n issu e o f $500,00 0 ar e t o b e devote d t o th e furthe r develop men t o f th e Tor o Negr o hydroelectri c project , th e proceed s fro m tw o issue s o f $100,00 0 an d $150,000 , respectively , ar e fo r us e i n con nectio n wit h th e Isabel a irrigatio n system , an d a n additiona l $96,00 0 homestea d bond s wer e dispose d o f locall y i n th e islan d b y th e treasure r o f Puert o Rico , wit h th e approva l o f th e Governor , unde r th e pro vision s o f Ac t No . 4 o f th e Legislatur e o f Puert o Rico , approve d Decembe r 14 , 1931 . O n Jun e 30 , 1933 , th e aggregat e assesse d valuatio n o f th e rea l an d persona l propert y i n th e islan d o f Puert o Ric o amounte d t o $314, 320,074 . Th e followin g i s a statemen t o f th e bonde d indebtednes s o f th e insula r governmen t o f Puert o Ric o a s o f Jun e 30 , 1933 : Amoun t Titl e o f loa n Rat e Issue d Outstand in g Jun e 30 , 193 3 Maturin g I Delude d i n 1 0 percen t limi tation : Irrigation : 191 3 Percent 4 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 191 3 4 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 191 4 4 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 191 5 4 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 191 6 4 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 191 8 4 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 192 2 5 $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 1923.. _ 4 M $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 192 4 4 M $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 4 M $1,000,00 0 700,00 0 400,00 0 400,00 0 200 , 00 0 200,00 0 250,00 0 975,00 0 600,00 0 $1,000,00 0 700,00 0 400,00 0 400 , 00 0 200 , 00 0 200,00 0 250 , 00 0 600 , 00 0 600,00 0 Jan . 1,1943 ; redeemabl e afte r Jan . 1 , 1933 . $100,00 0 annuall y beginnin g Jan . 1 , 1944 . $100,00 0 annuall y beginnin g Jan . 1 , 1951 . $100,00 0 annuall y beginnin g Jan . 1 , 1955 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . $100,00 0 annuall y beginnin g Jan . 1 , 1958 . $150,00 0 Jan . 1,1961 ; $100,00 0 Jan . 1 , 1962 . $75,00 0 o n Jan . 1 o f eac h yea r beginnin g Jan . 1,1929 ; outstandin g serie s redeem abl e Jan . 1 , 1939 . { $75,00 0 annuall y beginnin g Jan . 1 , 1942 ; redeemabl e Jan . 1 , 1939 . 5 0

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51 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Titl e o f loa n Rat e Amoun t Issue d Outstand in g Jun e 30 , 193 3 Maturin g Include d i n 1 0 percen t limi tation— C ontinued . Irrigation—Continued . 192 5 192 5 1927. . 1927. . 192 7 192 9 193 1 1933 . 1933.. . Sa n Jua n Harbo r improve ment : 191 7 1929.. . Publi c improvements : 191 4 19 1 9 19 2 0 1922. . 1923. . 1923. . 1926 1927. . Hig h schoo l (1920 ) Hous e constructio n (1920) . Workingmen' s hous e con structio n (1920) . Muno z River a Par k (1924 ) Targe t rang e an d aviatio n field (1925) . Fundin g (1930 ) Workmen' s relie f (1930 ) Hydroelectri c system : 193 1 193 2 Homestead " (1932)." . Percent 4 K 4 H 4 H 4 M 4 M 4 X 5 5 4 4 3 _ 4 ^ 5 5 5 4 ^ 4 X 4 M 4 H 4 H 4 K 4 ^ 4 H 4H 5 4 H Total . Contingen t liability : Ponc e (1927 ) D o Villalb a (1927)... . Guaynab o (1928) . Total . No t include d i n 1 0 percen t limitation : Refundin g (collateral) : 19 1 4 19 1 5 Tota l Gran d total . $125,00 0 750,00 0 525,00 0 475,00 0 500,00 0 750,00 0 150 , 00 0 100 , 00 0 150 , 00 0 100 , 00 0 320,00 0 1,000,00 0 1 , 000 , 00 0 1 , 000,00 0 1 , 000,00 0 1,000,00 0 6 , 000 , 00 0 2,000,00 0 2,000,00 0 300 , 00 0 250,00 0 500,00 0 200,00 0 200 , 00 0 4,000,00 0 500,00 0 500,00 0 500 , 00 0 166,00 0 $125,00 0 750,00 0 525,00 0 475,00 0 500,00 0 750,00 0 150,00 0 100,00 0 150,00 0 30,00 0 320,00 0 988,00 0 300,00 0 1,000,00 0 1 , 000,00 0 1,000,00 0 6 , 000 , 00 0 2,000 , 00 0 2 , 000 , 00 0 300,00 0 250,00 0 500,00 0 100,00 0 200,00 0 2,800,00 0 425,00 0 500,00 0 500 , 00 0 166,00 0 30,786,00 0 28,254,00 0 650 , 00 0 600,00 0 35,00 0 76 , 50 0 600 , 00 0 560,00 0 32,00 0 75 , 50 0 1 , 361 , 50 0 1 , 267,50 0 655 , 00 0 300 , 00 0 270 , 00 0 18 , 00 0 955,00 0 288,00 0 Jan . 1 , 1963 . $75,00 0 annuall y beginnin g Jan . 1 , 1950 ; redeemabl e Jan . 1,1939 . $75,00 0 annuall y beginnin g Jan . 1 , 1960 ; redeemabl e Jan . 1 , 1939 . $75,00 0 annuall y Jan . 1 , 1967 , t o Jan . 1 , 1972 ; $25,00 0 Jan . 1 , 1973 ; redeemabl e Jan . 1 , 1939 . $100,00 0 annuall y beginnin g Jan . 1 , 1959 . Seriall y Jul y 1 , 1952 , t o Jul y 1 , 1970 . $90,00 0 Jul y 1 , 1970 ; $60,00 0 Jul y 1 , 1971 . $50,00 0 Jul y 1 , 1971 ; $50,00 0 Jul y 1 , 1972 . $70,00 0 Jul y 1 , 1972 ; $80,00 0 Jul y 1 , 1973 . Jan . 1 , 1942 ; redeemabl e afte r Jan . 1,1927 . Jan . 1 , 1954 ; redeemabl e Jan . 1 , 1939 . Jan . 1 , 1939 ; redeemabl e afte r Jan . 1,1925 . Jan . 1 , 1934 . $250,00 0 annuall y beginnin g Jan . 1 , 1937 ; redeemabl e Jan . 1 , 1936 . $250,00 0 annuall y beginnin g Jan . 1 , 1941 . $250,00 0 annuall y beginnin g Jan . 1 , 1945 ; redeemabl e Jan . 1 , 1944 . $500,00 0 annuall y beginnin g Jul y 1 , 1944 ; redeemabl e Jul y 1 , 1943 . $500,00 0 annuall y beginnin g Jul y 1 , 1956 ; redeemabl e Jan . 1 , 1956 . $500,00 0 annuall y beginnin g Jul y 1 , 1960 ; redeemabl e Jan . 1 , 1960 . Jan . 1 , 1945 ; redeemabl e Jan . 1 , 1930 . Jan . 1 , 1945 : redeemabl e Jan . 1 , 1930 . $250,00 0 Jan . 1 , 1941-42 ; redeemabl e Jan . 1 , 1940 . $20,00 0 annuall y o n Jan . 1 o f eac h year ; outstandin g serie s redeemabl e Jan . 1 , 1934 . $60,00 0 annuall y beginnin g Jul y 1 , 1945 ; redeemabl e Jul y 1 , 1935 . $400,00 0 annuall y beginnin g Jul y 1 , 1931 . $25,00 0 annuall y beginnin g Jul y 1 , 1931 . Jan . 1 , 1951 ; redeemabl e o n o r afte r Jan . 1,1941 . Jan . 1 , 1952 ; redeemabl e Jan . 1 , 1942 . Jan . 1 , 1952 ; redeemabl e Jan . 1 , 1942 . Seriall y Jul y 1 , 1930 , t o Jul y 1 , 1959 . Seriall y Jul y 1 , 1932 , t o Jul y 1,1961 . Seriall y Jul y 1,1931 , t o Jul y 1 , 1956 . Seriall y Jul y 1 , 1933 , t o Jul y 1,1965 . Seriall y Jul y 1 , 1923 , t o Jul y 1 , 1953 . Seriall y Jul y 1 , 1919 , t o Jul y 1 , 1935 . 33,102,50 0 29,809 , 50 0 I n preparin g th e abov e statement , insula r bond s t o th e fac e valu e o f $520,00 0 an d municipa l bond s (unde r contingen t liability ) t o th e fac e valu e o f $32,000 , whic h wer e du e an d pa}^abl e o n Jul y 1 , 1933 , hav e bee n deducted , fund s therefo r havin g bee n transferre d t o th e fiscal agent s durin g Jun e 1933 .

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5 2 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Bond s issue d throug h Burea u o f Insula r Affair s durin g yea r endin g Jun e 30 , 1933 : Titl e o f loa n Authorit y fo r issu e Rat e Amoun t Pric e re ceive d Date d Du e Hydroelectri c sys tem , serie s B. 1 Isabel a irrigation , serie s T t o U . Isabel a irrigation , serie s U t o V. 2 P.R . Ac t No . 7 , Apr . 6 , 1931 . P.R . Ac t No . 8 , Jul y 12,1932 . J.Res . No . 12 , Jul y 3 , 1929 . J.Res . No . 12 , Jul y 3 , 1929 . P.R . Ac t No . 26 , Apr . 28 , 1933 . 5 6 5 $500,00 0 100,00 0 150,00 0 100.6 9 100.11 7 100 . 7 9 Jan . 1,193 2 Jan . 1,193 3 Jul y 1,193 3 Jan . 1 , 1952 ; redeem abl e Jan . 1,1942 . Jul y 1 , 1971-72 . Jul y 1 , 1972-73 . 1 Delivere d t o purchase r o n Nov . 28,1932 . 2 Wer e issue d unde r dat e o f Jul y 1,1933 , bu t hav e bee n include d a s a par t o f th e outstandin g deb t o f Puerto Rico , a s o f Jun e 30,1933 , sai d bond s havin g bee n sol d an d delivere d t o th e purchaser s o n th e latte r date . MUNICIPA L BONDE D INDEBTEDNES S A t th e clos e o f th e fisca l yea r 1932-3 3 th e outstandin g municipa l bonde d indebtedness , distribute d amon g 6 9 municipalitie s o f Puert o Rico , wa s $16,017,900 , agains t th e paymen t o f whic h ther e ha d bee n accumulate d i n thei r respectiv e sinkin g fund s th e su m o f $2,110,523.95 . Municipa l bond s aggregatin g $874,60 0 wer e redeeme d durin g th e year , thu s reducin g th e municipa l bonde d indebtednes s o f th e islan d b y tha t sum , a s n o additiona l municipa l bond s wer e issue d durin g sai d period . RECEIPT S AN D DISBURSEMENT S Comparative statement of receipts and disbursements of Puerto Rico, fiscal years 19Sl r 1982, and 1938 Fisca l yea r endin g Jun e 30 — 1931 ' 193 2 193 3 Balanc e fro m prio r years. . Revenues : Custom s $401,877.9 1 $553,026 . 8 5 $874 , 422 . 06 Balanc e fro m prio r years. . Revenues : Custom s 1,110,000 . 0 0 9 , 070 , 829 . 7 9 421,404.8 7 451,962.9 0 2 , 250 , 000.0 0 9,813,914 . 4 3 248,139 . 2 3 350 , 306.1 0 2,035 , 000.0 0 6 , 807 , 355 . 6 7 140,706 . 5 2 391,296.0 3 Interna l 1,110,000 . 0 0 9 , 070 , 829 . 7 9 421,404.8 7 451,962.9 0 2 , 250 , 000.0 0 9,813,914 . 4 3 248,139 . 2 3 350 , 306.1 0 2,035 , 000.0 0 6 , 807 , 355 . 6 7 140,706 . 5 2 391,296.0 3 Unite d State s interna l revenue s Miscellaneou s . 1,110,000 . 0 0 9 , 070 , 829 . 7 9 421,404.8 7 451,962.9 0 2 , 250 , 000.0 0 9,813,914 . 4 3 248,139 . 2 3 350 , 306.1 0 2,035 , 000.0 0 6 , 807 , 355 . 6 7 140,706 . 5 2 391,296.0 3 Tota l revenue s . 1,110,000 . 0 0 9 , 070 , 829 . 7 9 421,404.8 7 451,962.9 0 2 , 250 , 000.0 0 9,813,914 . 4 3 248,139 . 2 3 350 , 306.1 0 2,035 , 000.0 0 6 , 807 , 355 . 6 7 140,706 . 5 2 391,296.0 3 Tota l revenue s . 11,054,197 . 5 6 12,662 , 359 . 7 6 9 , 374 , 358 . 2 2 Othe r receipts : Repaymen t o f loan s Repayment , burea u o f supplie s Othe r repayment s Transfer s fro m trus t fund s Temporar y loans , advanc e o f taxes 11,054,197 . 5 6 12,662 , 359 . 7 6 9 , 374 , 358 . 2 2 Othe r receipts : Repaymen t o f loan s Repayment , burea u o f supplie s Othe r repayment s Transfer s fro m trus t fund s Temporar y loans , advanc e o f taxes » 33 , 000 . 0 0 1 , 748,695 . 2 1 151 , 206.4 2 118,818 . 6 1 23,000 . 0 0 1,860,166 . 9 2 151 , 585 . 7 7 446 , 536 . 5 7 13 , 500.0 0 1 , 002,433.9 3 146 , 745 . 7 6 622,106.1 5 1,250,000.0 0 Bon d issu e . 3 , 405 , 381 . 5 4 13 , 500.0 0 1 , 002,433.9 3 146 , 745 . 7 6 622,106.1 5 1,250,000.0 0 Miscellaneou s 3 , 405 , 381 . 5 4 91 , 039 . 3 5 25 , 230.0 0 Tota l othe r receipt s Tota l 91 , 039 . 3 5 25 , 230.0 0 Tota l othe r receipt s Tota l 5 , 457,101 . 7 8 2 , 572 , 328.6 1 3,060,015.8 4 Tota l othe r receipt s Tota l 16,913,177.2 5 15,787 , 715 . 2 2 13,308,796.1 2 Expenditures : Legislativ e 16,913,177.2 5 15,787 , 715 . 2 2 13,308,796.1 2 Expenditures : Legislativ e 206,472 . 5 9 1 , 909 , 579 . 6 0 304,070 . 6 0 421,922.9 8 Executive : Governo r . . 206,472 . 5 9 1 , 909 , 579 . 6 0 304,070 . 6 0 421,922.9 8 Governo r an d secretar y 206,472 . 5 9 1 , 909 , 579 . 6 0 118,971 . 7 8 500,881.1 5 1,070,987.1 8 100 , 241 . 4 2 340,358.7 7 678 , 482 . 3 6 Attorne y general. . Treasure r 450 , 694 . 4 8 624 , 741.0 2 118,971 . 7 8 500,881.1 5 1,070,987.1 8 100 , 241 . 4 2 340,358.7 7 678 , 482 . 3 6 1 Include s earthquake-mortgag e loan s t o municipalitie s an d schoo l boards .

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53 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • Comparative statement of receipts and disbursements of Puerto Rico, fiscal years 1931, 1932, and 1933 —Continued Fisca l yea r endin g Jun e 30 — 193 1 193 2 193 3 Expenditures—Continued . Executive—Continued . Interior : Road s an d bridges — _ _ $490,121.8 7 77,679 . 9 6 214 , 380 . 6 3 257,032 . 6 1 4,045 , 517 . 0 9 111 , 930 . 0 6 502 , 362 . 7 0 $478 , 493 . 7 0 159,292.0 4 214,011.8 4 256,855.7 0 4,117,110 . 7 7 128,843 . 3 6 $443,115 . 6 5 68,133 . 7 4 190 , 577.3 5 212,411 . 3 2 3 , 508,303.9 5 109 , 545 . 7 7 Publi c building s „ $490,121.8 7 77,679 . 9 6 214 , 380 . 6 3 257,032 . 6 1 4,045 , 517 . 0 9 111 , 930 . 0 6 502 , 362 . 7 0 $478 , 493 . 7 0 159,292.0 4 214,011.8 4 256,855.7 0 4,117,110 . 7 7 128,843 . 3 6 $443,115 . 6 5 68,133 . 7 4 190 , 577.3 5 212,411 . 3 2 3 , 508,303.9 5 109 , 545 . 7 7 Insula r telegrap h $490,121.8 7 77,679 . 9 6 214 , 380 . 6 3 257,032 . 6 1 4,045 , 517 . 0 9 111 , 930 . 0 6 502 , 362 . 7 0 $478 , 493 . 7 0 159,292.0 4 214,011.8 4 256,855.7 0 4,117,110 . 7 7 128,843 . 3 6 $443,115 . 6 5 68,133 . 7 4 190 , 577.3 5 212,411 . 3 2 3 , 508,303.9 5 109 , 545 . 7 7 Othe r expense s — Education : Publi c school s $490,121.8 7 77,679 . 9 6 214 , 380 . 6 3 257,032 . 6 1 4,045 , 517 . 0 9 111 , 930 . 0 6 502 , 362 . 7 0 $478 , 493 . 7 0 159,292.0 4 214,011.8 4 256,855.7 0 4,117,110 . 7 7 128,843 . 3 6 $443,115 . 6 5 68,133 . 7 4 190 , 577.3 5 212,411 . 3 2 3 , 508,303.9 5 109 , 545 . 7 7 Other'expense s Agricultur e an d labo r $490,121.8 7 77,679 . 9 6 214 , 380 . 6 3 257,032 . 6 1 4,045 , 517 . 0 9 111 , 930 . 0 6 502 , 362 . 7 0 $478 , 493 . 7 0 159,292.0 4 214,011.8 4 256,855.7 0 4,117,110 . 7 7 128,843 . 3 6 $443,115 . 6 5 68,133 . 7 4 190 , 577.3 5 212,411 . 3 2 3 , 508,303.9 5 109 , 545 . 7 7 Agricultur e an d commerc e $490,121.8 7 77,679 . 9 6 214 , 380 . 6 3 257,032 . 6 1 4,045 , 517 . 0 9 111 , 930 . 0 6 502 , 362 . 7 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Labo r 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Healt h 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Auditor. _ _ _ 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Insula r polic e 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Public-servic e commissio n 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Civi l servic e commissio n 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Burea u o f supplies , printing , an d transportatio n Othe r expense s Judicia l _ 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Tota l expenses. . 1 , 271 , 750 . 5 4 167,909 . 2 2 919,145 . 0 9 42,401 . 9 5 15 , 773.0 0 0 0 3 , 653 , 710 . 8 4 743 , 993.8 0 521,849 . 3 0 152 , 622 . 4 9 1 , 511,303.9 3 166 , 360 . 4 8 976 , 025.8 0 48 , 974.8 7 17,473.4 3 2 , 097 , 581.1 7 707 , 706 . 5 2 767,933.6 7 352 , 989.1 6 127,982.4 2 1 , 014 , 643 . 7 4 138 , 592 . 4 1 827 , 841 . 2 1 44 , 045 . 7 2 20 , 998 . 2 5 1,127 , 539.3 7 826 , 477 . 6 4 626 , 097.3 2 Tota l expenses. . 15 , 705,197.0 5 14,317 , 349 . 7 8 11,180 , 300 . 5 5 Othe r payments : Transfer s t o trus t fund s 15 , 705,197.0 5 14,317 , 349 . 7 8 11,180 , 300 . 5 5 Othe r payments : Transfer s t o trus t fund s 621,953 . 3 5 33,000 . 0 0 572,943 . 3 8 23 , 000.0 0 1,513,489 . 4 3 13,500 . 0 0 Municipa l an d school-boar d bond s Tota l othe r payment s 621,953 . 3 5 33,000 . 0 0 572,943 . 3 8 23 , 000.0 0 1,513,489 . 4 3 13,500 . 0 0 Municipa l an d school-boar d bond s Tota l othe r payment s 654 , 953.3 5 553,026.8 5 595 , 943 . 3 8 874,422.0 6 1 , 526,989.4 3 601 , 506.1 4 Cas h balanc e 654 , 953.3 5 553,026.8 5 595 , 943 . 3 8 874,422.0 6 1 , 526,989.4 3 601 , 506.1 4 Tota l 654 , 953.3 5 553,026.8 5 595 , 943 . 3 8 874,422.0 6 1 , 526,989.4 3 601 , 506.1 4 Tota l 16,913,177 . 2 5 15 , 787 , 715 . 2 2 13 , 308 , 796.1 2 16,913,177 . 2 5 15 , 787 , 715 . 2 2 13 , 308 , 796.1 2 2 Include d i n expenditure s o f Governo r fo r 1931 . REVENU E AN D OTHE R RECEIPT S [Dat a take n fro m Annua l Repor t o f th e Audito r o f Puert o Rico , 1932-33 ] Th e followin g tabulatio n show s th e revenu e an d othe r receipt s fo r th e yea r classifie d accordin g t o th e source s fro m whic h the y wer e derived : Custom s $2 , 035 , 000 . 0 0 Unite d State s interna l revenu e 140 , 706 . 5 2 Propert y taxes , insula r proportio n 313 , 792 . 0 2 Propert y taxes , proportio n o f th e universit y ta x 2 , 893 . 9 3 Excis e taxe s 4 , 979 , 290 . 4 6 Inheritanc e taxe s 1 31 , 384 . 9 6 Telephon e an d telegrap h receipt s 112 , 724 . 7 6 Cour t fee s an d fines '22 , 552 . 7 6 Harbo r an d doc k fee s 49 , 153 . 8 9 Interes t 71 , 236 . 3 2 Incom e ta x ^ 1 , 479 , 994 . 3 0 Miscellaneou s 135 , 628 . 3 0 Tota l 9 , 374 , 358 . 2 2 Cas h o n han d Jul y 1 , 193 2 874 , 422 . 0 6 Tota l 10 , 248 , 780 . 2 8

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5 4 REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S • STATEMEN T O F INSULA R REVENU E RECEIPT S FO R CERTAI N YEAR S [Dat a take n fro m Annua l Report s o f Treasure r o f Puert o Rico ] Fo r purpos e o f comparison , ther e ar e se t fort h below , th e amount s o f insula r revenu e receive d fo r th e firs t ful l yea r o f America n occupancy , 1900-1901 , an d fo r eac h o f th e las t 1 0 years : Fisca l year : Receipts 1900-190 1 $2,357,232.3 6 19232 4 9 , 198 , 385 . 8 3 19242 5 8 , 532 , 741 . 2 7 19252 6 11,773,953.8 7 19262 7 11 , 358 , 824 . 5 0 19272 8 12 , 446 , 219 . 1 3 Fisca l year—Continued . Receipts 19282 9 $11 , 004 , 138 . 5 2 19293 0 9 , 614 , 246 . 6 4 19303 1 11 , 054 , 197 . 5 6 19313 2 12 , 662 , 359 . 7 6 19323 3 9 , 374 , 358 . 2 2 TH E BUDGE T Th e followin g sum s fo r th e curren t expense s o f th e governmen t o f Puert o Ric o wer e appropriate d i n th e annua l appropriatio n act s fo r eac h o f th e las t 1 0 years : 19242 5 $11,735,00 0 19252 6 10 , 417 , 00 0 19262 7 10 , 450 , 00 0 19272 8 10 , 440 , 00 0 19282 9 10 , 968 , 00 0 19293 0 $10,499,00 0 19303 1 10 , 174 , 15 4 19313 2 11 , 285 , 24 5 19323 3 10 , 287 , 83 5 19333 4 9 , 007 , 01 8 NOTE .—Figure s fo r 1924-2 5 t o 1929-3 0 wer e obtaine d fro m governor' s repor t fo r 1928-29 , pag e 35 . Subsequen t figures hav e bee n obtaine d fro m Law s o f Puert o Rico . Figure s fo r 1933-3 4 ar e net , afte r deduction s specificall y ordere d i n th e act . ASSESSE D VALUATIO N O F PROPERT Y [Dat a take n fro m Annua l Report s o f Treasure r o f Puert o Rico ] Th e followin g statemen t show s th e tota l assesse d valuatio n o f rea l an d persona l propert y i n Puert o Rico , fo r taxabl e purposes , fo r th e year s stated : 1901-0 2 $96,428,30 6 1929-3 0 $330,274,02 0 19262 7 338 , 089 , 88 9 1930-3 1 _ 331 , 205 , 53 5 19272 8 341 , 370 , 65 4 1931-3 2 324 , 309 , 11 7 19282 9 344 , 865 , 10 4 1932-3 3 314 , 320 , 07 4

PAGE 59

REPOR T O F CHIE F O F BUREA U O F INSULA R AFFAIR S 5 5 Schedules of assets and liabilities as of June 30, 1933 [Dat a take n fro m exhibi t 2-A , Annua l Repor t o f Audito r o f Puert o Rico , 1932-33 ] Curren t yea r (1932-33 ) Previou s yea r (1931-32 ) Differenc e ASSET S Lan d an d equipmen t $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Cash-. . $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Sinkin g Fund s _ _ _ . . _ $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Trus t fun d reserves. . $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Note s receivabl e $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Account s receivable . $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Loan s t o municipalitie s $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Othe r deferre d asset s $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Deferre d debit s $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Universit y o f Puert o Ric o $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Tota l $51,604,480.9 5 8 , 772,884 . 4 1 1,286,793 . 7 5 2,133,771.3 3 1,160.0 0 10,763 , 376 . 6 3 150.0 0 164,217.8 7 114,410.9 6 2,255,594.2 4 $50,975,798.3 5 9 , 589 , 506 . 8 1 1,370 , 527 . 8 0 1,135 , 899.5 2 2,498.0 0 8,835,205 . 2 7 5,375 . 0 0 152,123.1 7 130,796 . 7 4 2,145,749 . 6 2 $628 , 682 . 6 0 i 816,622.4 0 i 83,734 . 0 5 997,871.8 1 i 1 , 338.0 0 1,928,171 . 3 6 i 5,225 . 0 0 12,094.7 0 i 16 , 385 . 7 8 109,844 . 6 2 Tota l 77,096,840.1 4 74,343,480 . 2 8 » 2,753,359 . 8 6 LIABILITIE S Note s payabl e 77,096,840.1 4 74,343,480 . 2 8 » 2,753,359 . 8 6 LIABILITIE S Note s payabl e 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Account s payable . 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Trus t fun d liabilitie s 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Deferre d liabilitie s 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Deferre d credits.. . 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Bonde d indebtednes s — 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Surplus , Isabel a irrigatio n servic e Surplus , hydroelectri c projects 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Trustees , Universit y o f Puert o Ric o Surplus , Guayam a irrigatio n servic e Th e peopl e o f Puert o Ric o Tota l 1,173,494.5 4 4,164,803.0 7 13 , 544,494 . 5 0 7,051.8 8 2,460,578.5 9 28,542,000.0 0 (715,418 . 57 ) 2,093 , 211.9 8 2,255,594.2 4 2,980,721.0 9 20,590,308.8 2 379,494 . 5 4 4,193 , 348 . 3 8 11 , 662,172 . 2 7 796.8 6 1,804,301.0 2 28,761,000 . 0 0 (580,262 . 68 ) 1,930,629.9 2 2,145,749.6 2 2,816,776 . 2 0 21 , 229,474.1 5 794,000.0 0 i 28 , 545 . 3 1 1 , 882 , 322 . 2 3 6,255.0 2 656 , 277 . 5 7 i 219,000 . 0 0 i 135,155.8 9 162 , 582.0 6 109,844 . 6 2 163,944 . 8 9 i 639,165 . 3 3 Trustees , Universit y o f Puert o Ric o Surplus , Guayam a irrigatio n servic e Th e peopl e o f Puert o Ric o Tota l 77,096,840.1 4 74,343,480.2 8 1 2 , 753 , 359.8 6 77,096,840.1 4 74,343,480.2 8 1 2 , 753 , 359.8 6 i Decreas e i n fiscal yea r 1932-33 .

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APPENDI X G DOMINICA N REPUBLI C DOMINICA N CUSTOM S RECEIVERSHI P Th e followin g tabl e show s th e financial transaction s o f th e receiver shi p durin g th e fiscal (calendar ) yea r ende d Decembe r 31 , 1932 : Statement of the customs service, Dominican Republic, year ended Dec. 81, 1932 RECEIPT S Balanc e fro m Dec . 31 , 193 1 $58 , 359 . 5 4 Gros s collection s 2 , 772 , 357 . 3 8 Miscellaneou s receipt s 391 , 54.4 . 0 6 Provisiona l receipts , pendin g cancelatio n a s o f Dec . 31 , 193 2 36 , 841 . 0 0 Tota l 3 , 259 , 101 . 9 8 EXPENDITURE S Custom s expens e 126 , 219 . 7 0 Sinkin g fun d payment s 50 , 000 . 0 0 Interes t o n bond s 457 , 242 . 6 0 Pai d t o th e nationa l treasurer , ne t balanc e o f pilo t fee s collecte d fro m Jan . 1 t o Nov . 30,193 2 39 , 868 . 1 2 Pai d fo r accoun t o f th e Dominica n Government , a s pe r specia l authorit y 11 , 048 . 0 4 Take n b y th e specia l emergenc y agen t o f th e Dominica n Govern ment , fro m Januar y t o Decembe r 193 2 2 , 455 , 478 . 0 0 Exchang e o n fund s transmitte d 1 , 954 . 9 0 Accrue d liabilit y fun d 1 , 457 . 2 2 5 percen t buildin g fun d disbursement s ^ 17 . 2 4 5 percen t conventio n accoun t disbursement s 9 , 828 . 7 7 Refun d o f dutie s collecte d i n exces s 1 , 149 . 5 1 Persona l fee s refunde d 8 , 498 . 25 Provisiona l receipt s pendin g cancelatio n o n Dec . 31 , 1931 , cancele d durin g 193 2 58 , 858 . 0 0 Balance s o n han d Dec . 31 , 1932 : Accrue d liabilit y fun d 4 , 935 . 2 8 5 percen t conventio n accoun t 1 , 569 . 6 8 $6,700,00 0 loa n 1922 , interes t accoun t 13 , 944 . 54 I n transi t fro m deput y receiver s 17 , 032 . 1 3 Tota l 3 , 259 , 101 . 9 8 5 6 o