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Author: Yoshiko Nagano
Publisher: NUS Press
ISBN: 9971698412
Category : History
Languages : en
Pages : 273
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Book Description
During the First World War, ill-advised steps by colonial officials in the Philippines who were responsible for the colony's finances created a crisis which lasted from 1919 until 1922. The circumstances shook the foundations of the American colonial state and contributed to Manuel L. Quezon’s successful effort to replace Sergio Osmeña as leader of the politically dominant Nacionalista Party. These events have generally been blamed on a corruption scandal at the Philippine National Bank, which had been established in 1916 as a multi-purpose, semi-governmental agency whose purpose was to provide loans for the agricultural export industry, to do business as a commercial bank, to issue bank notes, and to serve as a depository for government funds. Based on detailed archival research, Yoshiko Nagano argues that the crisis in fact resulted from mismanagement of currency reserves and irregularities in foreign exchange operations by American officials, and that the notions of a "corruption scandal" arose from a colonial discourse that masked problems within the banking and currency systems and the U.S. colonial administration. Her analysis of this episode provides a fresh perspective on the political economy of the Philippines under American rule, and suggests a need for further scrutiny of historical accounts written on the basis of reports by colonial officials.
Author: Yoshiko Nagano
Publisher: NUS Press
ISBN: 9971698412
Category : History
Languages : en
Pages : 273
Get Book Here
Book Description
During the First World War, ill-advised steps by colonial officials in the Philippines who were responsible for the colony's finances created a crisis which lasted from 1919 until 1922. The circumstances shook the foundations of the American colonial state and contributed to Manuel L. Quezon’s successful effort to replace Sergio Osmeña as leader of the politically dominant Nacionalista Party. These events have generally been blamed on a corruption scandal at the Philippine National Bank, which had been established in 1916 as a multi-purpose, semi-governmental agency whose purpose was to provide loans for the agricultural export industry, to do business as a commercial bank, to issue bank notes, and to serve as a depository for government funds. Based on detailed archival research, Yoshiko Nagano argues that the crisis in fact resulted from mismanagement of currency reserves and irregularities in foreign exchange operations by American officials, and that the notions of a "corruption scandal" arose from a colonial discourse that masked problems within the banking and currency systems and the U.S. colonial administration. Her analysis of this episode provides a fresh perspective on the political economy of the Philippines under American rule, and suggests a need for further scrutiny of historical accounts written on the basis of reports by colonial officials.
Author: Mary Bridges
Publisher: Princeton University Press
ISBN: 0691248141
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
How the creation of a new banking infrastructure in the early twentieth century established the United States as a global financial power The dominance of US multinational businesses today can seem at first like an inevitable byproduct of the nation’s superpower status. In Dollars and Dominion, Mary Bridges tells a different origin story. She explores the ramshackle beginnings of US financial power overseas, showing that US bankers in the early twentieth century depended on the US government, European know-how, and last-minute improvisation to sustain their work abroad. Bridges focuses on an underappreciated piece of the nation’s financial infrastructure—the overseas branch bank—as a brick-and-mortar foundation for expanding US commercial influence. Bridges explores how bankers sorted their new communities into “us”—potential clients—and “them”—local populations, who often existed on the periphery of the banking world. She argues that US bankers mapped their new communities by creating foreign credit information—and by using a financial asset newly enabled by the Federal Reserve System, the bankers’ acceptance, in the process. In doing so, they constructed a new architecture of US trade finance that relied on long-standing inequalities and hierarchies of privilege. Thus, racialized, class-based, and gendered ideas became baked into the financial infrastructure. Contrary to conventional wisdom, there was nothing inevitable or natural about the rise of US finance capitalism. Bridges shows that US foreign banking was a bootstrapped project that began as a side hustle of Gilded Age tycoons and sustained itself by relying on the power of the US state, copying the example of British foreign bankers, and building alliances with local elites. In this way, US bankers constructed a flexible and durable new infrastructure to support the nation’s growing global power.
Author: Ian Morley
Publisher: Routledge
ISBN: 0429627858
Category : Architecture
Languages : en
Pages : 244
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Book Description
Winner of the 2020 IPHS Koos Bosma Prize American Colonisation and the City Beautiful explores the history of city planning and the evolution of the built environment in the Philippines between 1916 and 1935. In so doing, it highlights the activities of the Bureau of Public Works’ Division of Architecture as part of Philippine national development and decolonisation. Morley provides new archival materials which deliver significant insight into the dynamics associated with both governance and city planning during the American colonial era in the Philippines, with links between prominent American university educators and Filipino architecture students. The book discusses the two cities of Tayabas and Iloilo which highlight the significant role in the urban design of places beyond the typical historiographical focus of Manila and Baguio. These examples will aid in further understanding the appearance and meaning of Philippine cities during an important era in the nation’s history. Including numerous black and white images, this book is essential for academics, researchers and students of city and urban planning, the history and development of Southeast Asia and those interested in colonial relations.
Author: Yusuke Takagi
Publisher: NUS Press
ISBN: 9814722111
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
From its creation in 1949 until the 1960s, the Central Bank of the Philippines dominated industrial policy by means of exchange controls, becoming a symbol of nationalism for a newly independent state. The pre-war Philippine National Bank was closely linked to the colonial administration and plagued by corruption scandals. As the country moved toward independence, ambitious young politicians, colonial bureaucrats, and private sector professionals concluded that economic decolonization required a new bank at the heart of the country’s finances in order to break away from the individuals and institutions that dominated the colonial economy. Positioning this bank within broader political structures, Yusuke Takagi concludes that the Filipino policy makers behind the Central Bank worked not for vested interests associated with colonial or neo-colonial rule but for structural reform based on particular policy ideas.
Author: Colin D. Moore
Publisher: Cambridge University Press
ISBN: 1107152445
Category : History
Languages : en
Pages : 305
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Book Description
American Imperialism and the State recasts imperial governance as an episode of American state building.
Author: Alvita Akiboh
Publisher: University of Chicago Press
ISBN: 0226828484
Category : Emblems, National
Languages : en
Pages : 297
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Book Description
"Alvita Akiboh's book reveals how US national identity has been created, challenged, and transformed through embodiments of empire found in its territories, whether stamps, flags, or currency. These objects are economic and symbolic, but they also encode the relationships between territories-including the Philippines, the Marshall Islands, Puerto Rico, and Palau-and the empire with which they are entangled. Akiboh shows how such items became objects of local power, transmogrifying their original intent. For even if imperial territories were not always front and center for federal lawmakers and administrators, the people living there remained continuously aware of the imperial United States, whose presence announced itself on every bit of currency, every stamp, and the local flag"--
Author: Colleen Woods
Publisher: Cornell University Press
ISBN: 1501749145
Category : History
Languages : en
Pages : 181
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Book Description
Freedom Incorporated demonstrates how anticommunist political projects were critical to the United States' expanding imperial power in the age of decolonization, and how anticommunism was essential to the growing global economy of imperial violence in the Cold War era. In this broad historical account, Colleen Woods demonstrates how, in the mid-twentieth century Philippines, US policymakers and Filipino elites promoted the islands as a model colony. In the wake of World War II, as the decolonization movement strengthened, those same political actors pivoted and, after Philippine independence in 1946, lauded the archipelago as a successful postcolonial democracy. Officials at Malacañang Palace and the White House touted the 1946 signing of the liberating Treaty of Manila as a testament to the US commitment to the liberation of colonized people and celebrated it under the moniker of Philippine–American Friendship Day. Despite elite propaganda, from the early 1930s to late 1950s, radical movements in the Philippines highlighted US hegemony over the new Republic of the Philippines and, in so doing, threatened American efforts to separate the US from sordid histories of empire, imperialism, and the colonial racial order. Woods finds that in order to justify US intervention in an ostensibly independent Philippine nation, anticommunist Filipinos and their American allies transformed local political struggles in the Philippines into sites of resistance against global communist revolution. By linking political struggles over local resources, like the Hukbalahap Rebellion in central Luzon, to a war against communism, American and Filipino anticommunists legitimized the use of violence as a means to capture and contain alternative forms of political, economic, and social organization. Placing the post-World War II history of anticommunism in the Philippines within a larger imperial framework, in Freedom Incorporated Woods illustrates how American and Filipino intelligence agents, military officials, paramilitaries, state bureaucrats, academics, and entrepreneurs mobilized anticommunist politics to contain challenges to elite rule in the Philippines.
Author: Hicham Safieddine
Publisher: Stanford University Press
ISBN: 1503609685
Category : History
Languages : en
Pages : 332
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Book Description
In 1943, Lebanon gained its formal political independence from France; only after two more decades did the country finally establish a national central bank. Inaugurated on April 1, 1964, the Banque du Liban (BDL) was billed by Lebanese authorities as the nation's primary symbol of economic sovereignty and as the last step towards full independence. In the local press, it was described as a means of projecting state power and enhancing national pride. Yet the history of its founding—stretching from its Ottoman origins in mid-nineteenth century up until the mid-twentieth—tells a different, more complex story. Banking on the State reveals how the financial foundations of Lebanon were shaped by the history of the standardization of economic practices and financial regimes within the decolonizing world. The system of central banking that emerged was the product of a complex interaction of war, economic policies, international financial regimes, post-colonial state-building, global currents of technocratic knowledge, and private business interests. It served rather than challenged the interests of an oligarchy of local bankers. As Hicham Safieddine shows, the set of arrangements that governed the central bank thus was dictated by dynamics of political power and financial profit more than market forces, national interest or economic sovereignty.
Author: Lisandro E. Claudio
Publisher: NUS Press
ISBN: 9814722529
Category : History
Languages : en
Pages : 243
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Book Description
Extricating liberalism from the haze of anti-modernist and anti-European caricature, this book traces the role of liberal philosophy in the building of a new nation. It examines the role of toleration, rights, and mediation in the postcolony. Through the biographies of four Filipino scholar-bureaucrats—Camilo Osias, Salvador Araneta, Carlos P. Romulo, and Salvador P. Lopez—Lisandro E. Claudio argues that liberal thought served as the grammar of Filipino democracy in the 20th century. By looking at various articulations of liberalism in pedagogy, international affairs, economics, and literature, Claudio not only narrates an obscured history of the Philippine state, he also argues for a new liberalism rooted in the postcolonial experience, a timely intervention considering current developments in politics in Southeast Asia.
Author: Florina H. Capistrano-Baker
Publisher: Ayala Foundation, Inc., Getty Research Institute, and Kunsthistorisches Institut in Florenz (Max-Planck-Institut)
ISBN: 6218028224
Category : History
Languages : en
Pages : 322
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Book Description
Between the sixteenth and nineteenth centuries, competing European empires, notably Spain, Portugal, Great Britain, the Netherlands, Germany, France, Belgium, and others vied for commercial and political control of transoceanic networks, particularly the transpacific routes between Asia and the Americas. The essays in Transpacific Engagements: Trade, Translation, and Visual Culture of Entangled Empires (1565–1898) address the resulting cultural and artistic exchanges with an emphasis on both the Spanish and American enterprises in the Asia-Pacific region. The essays are grouped into three parts entitled “Entangled Empires,” “Empires and Translations,” and “Empires and Trade.” A common thread in the diverse perspectives presented here is the importance of transpacific engagements to the global connections of the sixteenth century and beyond. While the focus is on the specific connection between the Asia-Pacific region and the Americas through the Philippines, we see how other parts of the world, notably South and Southeast Asia and Europe, were also participants impacted by these transpacific linkages. The goal is to convey the complexity of entangled networks of commercial, political, and religious interests that complicate the Spanish enterprise in the Pacific. Commercial ventures into Canton and Manila by the early American republic, for example, overlapped with and later replaced the Spanish galleons. East, South, and Southeast Asian polities and dynasties remained powerful players in what were often multilateral, rather than bilateral, exchanges. Contributors to this volume are based in Asia, the Americas, and Europe.
