OCR Text |
Show SEES BRIGHT FUTURE FOR THE PHILIPPINES Harold M. Pitt, formerly local representative repre-sentative of Bradstreet's agency, is back In Salt Lake after an absence of several years spent In the Philippines. Mr. Pitt is of the opinion that in the course of time these islands will be the most valuable possession of the Federal Fed-eral . Government. The definite announcement an-nouncement of Secretary Taft that the Islands would not be given their autonomy in less than two generations, he says, has done much for the new possessions. The uncertainty as to future fu-ture government of the islands has kept American capital out. "While the country is poor in the sense that It has no capital, on the other hand it is rich In natural production and capital will be amply rewarded for all investments made there. The develop- ment necessary will require large capital. capi-tal. Certain necessary changes in the land laws will do wonders for the development. de-velopment. At present corporations cannot own over 2500 acres, while 6000 to 8000 acres are necessary for a successful suc-cessful sugar venture. |