The document summarizes the economy of the Philippines during the American period after it was ceded by Spain to the United States in 1898. The US defined its role as preparing the Philippines for eventual independence. A key economic goal was the growth of American trade in the Philippines by viewing it as a market for American goods like farm equipment, processed foods, drugs, and chemicals. The US Congress passed various legislation, like the Payne-Aldrich Act, to strengthen American control of the Philippine economy and increase trade between the two countries.

1. The Economy During the
American Period

2. Spain ceded Philippines to
United States through an
agreement enshrined in
the Treaty of Paris.
Spain would receive $20
million as indemnity for the
war and the unfinished
building projects.

3. William Howard Taft

4. United States defined and
justified its colonial role as
one of the tutelage:
preparing the Philippines for
eventual independence.

5. President Theodore Roosevelt

6. Also called the Philippine
Commission
The growth and development
of American Trade in the
Philippines was spelled out to
be major economic goal that
must be met.

7. “…Commission viewed
the Philippines as an
immense field for sale of
American goods…
Corpuz(1997) narrates that:

8. The Commission adjudged
the agricultural tools and
equipment used in the
islands as wretched and
crude…
Corpuz(1997) narrates that:

9. For manufactured and
processed goods, it saw a
rich market for drugs and
chemicals, wheat flour,
preserved meats, etc.,…
Corpuz(1997) narrates that:

10. The Commission
optimistically anticipated
a flow of American capital
and technology in
developing the economy
of the islands.
Corpuz(1997) narrates that:

11. to further the strengthen the
American control of the
Philippine economy, various
legislations were approved
by the US Congress.
This legislation caused
Philippine trade with the US
to sharply increase from
Php63.8 million in 1895 to
Php516 million in 1940.

12. but... what is
Payne-Aldrich Act?