Today in Philippine History (Philatelic Edition):
SEPTEMBER 6, 1955
The Laurel-Langley Agreement (United States-Philippines Trade Agreement) was approved by the Philippine and American governments after its conclusion on December 15, 1954.
It replaced the unpopular Bell Trade Act (Philippine Trade Act of 1946). This treaty freed the peso from the dollar, made reciprocal the parity privileges, extended the sugar quota, and permitted the Philippines to levy export taxes, among others.
Sen. Jose P. Laurel negotiated for the Philippines while James M. Langley represented the United States of America.
(Design, concept, stamps and research: Richard Allan B. Uy) All rights reserved
Photo credit: tumblr.malacanang.gov.ph
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