Directory_and_Chronicle_1925 — Page 1554

Nationality of Vessels

American

PHILIPPINE ISLANDS

1455

The value of trade carried by vessels during the year ending December 31st, 1923 is shown in the following table :-

Total Trade P190,556,719

Imports P65,164,709

Exports P125,392,010

British

75,851,145

72,156,985

148,008,130

Dutch

10,684,171

6,794,810

17,478,981

Japanese

10,095,396

5,067,443

15,162,839

Swedish

9,379

5,933,852

5,943,231

Spanish

1,549,042

3011,231

4,560,273

Norwegian

......

404,853

3,905,955

4,310,808

Philippine

3,832,679

46,122

3,878,801

German

1,265,742

2,284,618

3,550,360

French

83,561

29,933,853

3,017,414

Chinese

Danish....

Italian.

114,860

993,112

1,107,972

526,586

500

527,086

43,632

7,535

51,167

Russian

Panaman

Mail

Total

....

520

520

5,373,219

410 12,977,544

410

18,350,763

P174,999,494 P241,505,980 P416,505,474

A large part, of the domestic commerce of the Philippine Islands is in the hands of foreigners. The last few years, however, have witnessed a broader activity on the part of the Filipinos.

The principal local trade-centres are Manila, Cebu, Iloilo, Zamboanga, Jolo, Balabac, Aparri and Legaspi.

BANKING AND COINAGE

With the exception of the Philippine National Bank, which is a Government-con- trolled institution, the banks are privately owned. The total resources of these banks is as follows: British, P34,592,880; American, P51,676,960; and Japanese, P3,562,499.

There are 9 banking corporations doing business in the Philippines, not including express companies and savings banks which are also available. Of these, five are domestic, namely, The Philippine National Bank, The Bank of the Philippine Islands, The China Bank, the Philippine Trust, and Mercantile Bank of China.

The coins used in the Philippine Islands are of the following denominations:--Peso, one-half peso (50 centavos), pescta (20 centavos), media peseta (10 centavos), five centavos, and one centavo. The paper money is issued in 1, 2, 5, 10, 20, 50, 100, 200, and 500 peso denominations. The Philippine peso is equivalent to fifty cents in United States currency. The Philippine Commission maintained this parity by passing the Gold Standard Act on October 10th, 1903. The new peso now coined contains 20 grammes of silver, 800 fine; the 50 centavo piece contains 10 grammes of silver, 750 fine; 20-centavo piece, four grammes of silver, 750 fine; and the 10-centavo piece, two grammes of silver 750 fine.

DIRECTORY

THE GOVERNMENT OF THE PHILIPPINE ISLANDS

EXECUTIVE

H.E. The Governor-General-Major-General Leonard Wood Vice-Governor-Eugene A. Gilmore Secy. of the Interior-Felipe Agoncillo

-Feliciano Ocampo

Under do. Secy., Public Instrn.-Eugene A. Gilmore Under do.

-Alejandro Albert

Secy. of Finance-Miguel Unson (acting) Under do. -Miguel Unson

Secy. of Justice-Luis P. Torres (acting)

Under Secy. of Justice-Luis P. Torres Secy. of Agriculture & Natural Resources-

Silverio Apostol (acting) -Silverio Apostol Commerce & Communication-

Cipriano E. Unson (acting) -Cipriano E. Unson

Under do. Secy. of

Under

do.