State and Finance in the Philippines, 1898-1941: The Mismanagement of an American Colony

During the First World War, ill-advised steps by colonial officials in the Philippines who were responsible for the colony’s finances created a crisis which lasted from 1919 until 1922.  The circumstances shook the foundations of the American colonial state and contributed to Manuel L. Quezon’s successful effort to replace Sergio Osmeña as leader of the politically dominant Nacionalista Party.  These events have generally been blamed on a corruption scandal at the Philippine National Bank, which had been established in 1916 as a multi-purpose, semi-governmental agency whose purpose was to provide loans for the agricultural export industry, to do business as a commercial bank, to issue bank notes, and to serve as a depository for government funds.

Imprint: Ateneo de Manila University Press
Edition: 1
Language: English
Number of Pages: 248
Subject: Asia / Southeast Asia
Copyright Year: 2015

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