In previous letter, the Bill for Bank for the Philippines with a capital of twenty million pesos was somewhat fully gone into on its introduction by Vice-Governor Martin. Since then, the measure has been passed by the lower house of the Legislature after considerable amendment. It is now up for discussion before the Commit sion and has reosived severe cut cism from Senor Mapa, the Seoretary of Finance and Justice.
Mr. Mapa, who claimed that he had made a deep study of the Bill, gued that the crying need of the islands at the present time was for an agricultural bank that was large enough to answer the demands of all branches of the plant-
In his opinion, the Bill under conings industry in the Philippines. sideration did not give enough attention and care to agriculture and agricultural development. It favoured the commercial side far too much; whereas the entire plan of the bank should be drawn up with the question of agricultural credits in view, rather than establishing an additional commercial bank in the islands. The opposite view was naturally taken by the Vioe-Governor, who made a strong plea for the retention of the commercial features provided for in "the Bill by the Assembly; maintaining earnestly that they were necessary and also that agricultural development had been lavishly considered and attended to in the Bill.
It is the opinion that the measure, which is still under discussion, will be considerably changed by the Commission. It is not often that the Secretary of Finance and Justios openly expresses his opinion; but when he does so, and discusses @ Bill at any length, his opinions usually win the day in the upper house. It is believed that such will be the case in this instance and that the National Bank Bill will be modified so as to be in unison with his ideas.
An Envoy from President Wilson.
It has been cabled from Washington that Mr. W. Morgan Shuster, once collector of customs and ister secretary of public instruction of the Philippine government, is shortly to visit the Orient as the personal envoy of President Wilson. The message goes on to say that Mr. Wilson has decided that a report from a trustworthy source on the present state of politics in the Far East is necessary and has selected Mr. Shuster to make the journey. It is understood that he will visit all the Oriental coun-
Text read from the printed page and cleaned; old type leaves the occasional error.