Word: principalia
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Dates: during 1960-1969
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...system under which a Filipino bureaucrat was permitted to skim the cream from his tax collections and distribute it to his poor friends and relations; as a result, graft and corruption are still the Manila way of life. Nor did the Americans break up the vast estates of the principalia, the Filipino elite; peasants today still pay up to 30% of their crop to absentee landlords, and the rest often goes to local loan sharks. By granting free tariffs to Philippine producers of sugar, lumber and hemp, the U.S. reinforced a backward primary-product economy; today, a major irritant between...
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