Philippines Say "No"
p. 73 · Read in the full issue
To Japan
From Our Own Correspondent.
Honolulu, July 25.
OFFICIALS of the National Development Company of Manila, a Government agency, report that it has turned down a tempting Japanese offer. The Japanese wanted to exploit part of the famed Surigao iron mines, on a royalty basis.
The Japanese offered a royalty bait of 25 US cents per ton, which would have assured the Philippine commonwealth a clear profit of 12,500,000 dollars.
But no thank you said the Filipinos, who more and more are forgetting their independence plan. They are beginning to think that U.S. control of the islands is a fine idea, after all.