Wednesday, July 2, 2014

Today in Philippine History: Bell Trade Act of 1946

JULY 2, 1946
The Bell Trade Act or the Philippine Trade Act of 1946 was approved by the Philippine Legislature during the term of Pres. Manuel Roxas. The Act sponsored by Missouri Congressman Charles Jasper Bell was passed by the U.S. Congress and governed the granting of Philippine independence. It controversially tied the Philippine economy to that of the United States. An $800 million post-war fund was offered if the Act was ratified. Pres. Sergio OsmeƱa called it a curtailment of Philippine sovereignty, virtual nullification of Philippine Independence.”

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