Excerpt from Report on the Financial and Industrial Conditions of the Philippin E Islands, 1898
Sir: The Hon. Wm. E.Day, Secretary of State, appointed me an honorary commissioner to investigate and report on financial and industrial conditions in the Philippine Islands, the appointment bearing date of August 2, 1898.In conformity with his request I have made a careful study of conditions in the Philippine Islands, and have embodied the result of ray work in a report, which, under the direction of the Secretary of State, I have the honor to submit to you herewith.
The task of obtaining data on financial and industrial conditions in the Philippine Islands has been a difficult one. There are no official statistics available on trade and commerce, and for the most part the information which is contained in my report has been gathered from private sources. The larger exporting and importing houses have kept statistics of trade, and these are as reliable as any figures that were available.
If there had been official statistics obtainable from the Spanish Government offices, they would have been used instead as the basis of this report. While, to some extent, the figures given in my report are approximate, they are the most reliable and the nearest correct of any that could be obtained.
I was in Manila Bay with the blockading fleet from May 1, the day on which the Spanish squadron was destroyed, until the bombardment and capture of Manila on August 13. Following that event I went ashore, remaining in Manila until October 8. Most of the figures and facts which are contained in the report I am submitting were obtained during the time I was in the city of Manila.
There are some further facts, which will form the subject of an appendix to this report, which I will submit to you as soon as the work of preparing the matter can be concluded.
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