Extension {o the Philippines of the United States export licensing sys-fern was expected to curtail foreign trade, but it was believed that really drastic dislocation of Philip-me economy would result from the export control operation.
After a study of the Philippine export business, the American trad: commissioner Mr. Paul P. Steintor has voiced the conviction the Jicensing system would not cause any serious trade disruption. He said that at most only a small proportion of the country's exports would be affected by export control.
Mr, Steintorf analyzed the 1040 export trade Agures and found that exports of Ucensable commodities from the Philippines in that year were worth a little more than US$17,~ 000,000 or only 11 per cent, of the total exporls—indicating that 98 per cent. of export products would not be affected by the licensing system.
Text read from the printed page and cleaned; old type leaves the occasional error.