Excerpt from Third Annual Report of the United States High Commissioner to the Philippine Islands to the President and Congress of the United States: Covering the Calendar Year 1938 and the First Six Months of 1939 The value of imports during 1938 was 22 percent greater than in 1937. However, the value of imports during the first half pf 1939 was 35 percent less than similar values during the first half of 1938. The government's finances continued in a flourishing condition. During the 18 months covered by this report, the Commonwealth received from the United States Government P58,913,242.12 of coconut oil excise tax funds. 'the total receipts of the general fund, excluding the coconut oil taxes, amounted to Financial condi tions during 1938 approached boom proportions. However, by June 30, 1939, evidences of future economic strains were not lacking. 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.