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However, Mr. Quezon's case took a turn for the worse when the official announcement continued: "It was further agreed that preferential trade relations between the United States and the Philippines are to be terminated at the earliest practicable date consistent with affording the Philippines a reasonable opportunity to adjust their national economy. Thereafter it is contemplated that trade relations between the two countries will be regulated in accordance with a reciprocal trade agreement on a non-preferential basis." As soon as this news hit the Philippines, shares of local companies on the Manila Stock Exchange dropped an average...

Author: /time Magazine | Title: PHILIPPINES: Brain | 3/29/1937 | See Source »

...Franklin. Roosevelt has the smartest political brain in the U. S., there is no doubt Manuel Quezon has the smartest political brain in the Philippines. Last week Señor Quezon's brain was visiting the U. S., working full speed while its owner was busy in Washington with the Interdepartmental Committee on Philippine affairs. For Mr. Quezon was putting a very delicate case to Assistant Secretary of State Francis B. Sayre, Admiral William D. Leahy, Chief of Naval Operations, Brigadier General Creed F. Cox, Chief of the Bureau of Insular Affairs, Paul...

Author: /time Magazine | Title: PHILIPPINES: Brain | 3/29/1937 | See Source »

...Quezon's case, put bluntly, was that the Philippines were promised their freedom (after ten years of local self-government) as a result of mixed motives, which in turn had brought about an intolerable economic situation. The Independence Act was supported in Congress by two groups, one inspired by international altruism, the other inspired by national selfishness. Those inspired by selfishness were Congressmen, mostly from sugar-producing States, who wanted to put the Philippines outside the U. S. tariff barrier so as to get rid of business competitors. Into the law they wrote provisions which would institute a series...

Author: /time Magazine | Title: PHILIPPINES: Brain | 3/29/1937 | See Source »

First official act of big, bronze-skinned Mr. McNutt will be to sit in on discussions of U. S.-Philippine trade relations with President Roosevelt and little, brown-skinned Commonwealth President Manuel Quezon, who last week sped across the land from Los Angeles to keep his White House engagement. Informed of Mr. McNutt's appointment in Chicago, President Quezon tactfully observed that if President Roosevelt had chosen him he must be the best man for the job. But in Manila, the U. S.-owned-&-edited Bulletin declared: "If politics had not been considered, if special fitness had been...

Author: /time Magazine | Title: THE PHILIPPINES: McNutt to Manila | 3/1/1937 | See Source »

Absentees-Still living is Cardinal Dougherty's oldtime adversary Gregorio Aglipay, whose Independent Church now claims 4,000,000 members, is generally credited with about 1,000,000. Two years ago Aglipay did almost as well as Aguinaldo in the Presidential campaign in which Manuel Quezon swamped them both. Before the Eucharistic Congress opened, Aglipay sought an injunction to restrain the Commonwealth from issuing postage stamps commemorating the Congress. Failing, he kept out of sight last week and other Aglipayans did nothing to mar the pious occasion. Absent also, for apparently mixed reasons, was President Quezon. Four years...

Author: /time Magazine | Title: Religion: On the Luneta | 2/15/1937 | See Source »

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