In the second place, while there exists in the Philippines certain mineral resources in which the Japanese are necessarily interested, nevertheless, the raw materials of which Tapan -has the greatest need, especially petroleum, raw cotton and wool. are lacking there. In other words, the great resources of the Islands are largely agricultural, as in the case of Japan herself, and, therefore, do not present a vital interest to Japan.
The one great mineral interest in the Philippines, the Institute finds, is that of pig iron, of which 500,- 000,000 tons of grade ore, not totally undeveloped are estimated to exist on the island of Mindanao alone. Japan has already secured for herself access to this supply of iron, however, by her demands for at that the Islands can supply her. To date she has been able to secure only about 600,000 tons in one year as against her annual need of 2,000,000 tons. But as fast as the Philippines develop the mines they are assured of a market in Japan while Japan in turn is assured of a supply at a cost far less than she can secure elsewhere, The Institute also points out that while Japanese emigration to the Islands has been unrestricted, never: theless comparatively few have availed themselves of it.
Text read from the printed page and cleaned; old type leaves the occasional error.