Excerpt from Annual Report of the Governor General of the Philippine Islands, 1932: Message From the President of the United States Transmitting the Report of the Governor General of the Philippine Islands for the Period February 29, 1932-February 30, 1933
Sir. The Philippine government during 1932 reduced its expenses and, in spite of thep world-wide economic crisis, converted a threatened deficit of large proportions into a surplus. In 1933 it will have a balanced budget.
The government had been In a serious financial condition. During 1931 expenditures exceeded receipts by P. 200 000 Revenues had shrunk 20 percent. Markets had been disappearing and commodity prices falling.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.