THE PHILIPPINE MARKETS.

Wanganui Herald, Volume XXXXIV, Issue 12749, 21 April 1909, Page 5

THE PHILIPPINE MARKETS.

America's Monopolising Methods Mean Ruin to British Trade. Press Association.— Telegraph.— Copyright. LONDON, April 20. The Daily Mail, commenting on the announcement that the Washington Government intends to close the Philippine markets to other nations by establishing free trade between the Philippines and America, to the exclusion of other countries, states that this means ruin to the extensive and growing British trade, and shows special resentment because of the American specific assurance in 1899 that no change would be made that might be injurious to. our old-established commerce.

An export 4 u ty was recently imposed on Philippine hemp, full rebate being given on all sent to America. Till then London was th,p centre. of the hemp .trade.

America also declared that all trade between America and the Philippines was coastal, and none but ships of American register could participate therein. Till then the trade was largely carried on by British ships. There are 20 British firms in Manila alone, the largest import and export firms being British, the leading banks British, the railway British, and many of the most important enterprises backed by British capital.