ABSTRACT
The Philippine Commonwealth has reached a point where, for better or for worse, a larger degree of industrialization seems inevitable. Foreign trade has been the source of the country’s prosperity during the American regime; and a rapid dwindling of that trade, which has been directed largely to the American market, is inevitable now that the period of free interchange of goods is drawing to a close. In terms of industrialization as the West understands the term, the face of the country has changed little during the last forty years. The production of alcohol from molasses, an old industry, is now becoming an important one, with an output of 70 million liters. Filipinos point to its increasing use as motor fuel, to help offset the annual imports of gasoline and kerosene which run into several millions annually.
