AMERICAN TRADE

Evening Star, Issue 14039, 21 April 1909, Page 6

AMERICAN TRADE

NOT OPEN TO THE WORLD. CLOSING PHILIPPINE PORTS. Press Association—By Telegraph—Copyright. LONDON, April 20. The ' Daily Mail' publishes an announcement from Washington that the United States Government intend to close the Philippine market to other nations bv establishing Freetrade between the Philippines and the United States to the exclusion of other States. This means the ruin of the extensive and growing British trade, and it is specially resented because of America's specific assurances in 1899 that no changes would be made which would be injurious to British old-established commerce. An export duty was recently imposed on Philippine hemp, and a full rebate was given on all sent to America. Till then, London was the.centre of the hemp trade. America also declared that all trade between America and the Philippines was coastal, and that none but ships of American register could participate therein. Till then the trade was done largely by British ships. There are twenty British firms in Manila alone. The largest import and export firms are British, the leading banks are British, the railways are British, and many of the most important enterprises are backed by British capital.