Not by rice alone

Title: Not by rice alone
Language: English
Source: Panorama XX (6) June 1968
Year: 1968
Rights
Fulltext: 15 per cent of its expected income from revenues which, at the present time, amounts to about 300 million pesos on its revenue income of about two billion pesos but payable during the first quar ter of the year following. But most of the time the government has been delin quent in paying said obliga tion to the Central Bank. In the instances I have cited, the issue of money is made against the resources of . our government in the case of bonds and budgeta ry advances, and against the resources of our banking and financial institutions which reflect the wealth of the na tion. The managed currency system is now obtaining or has been adopted in almost all free or civilized countries of the world accounting for the general increases in prices and corresponding raises in wages and salaries The desirable degree of in flation has spurred progress all over the world, enabling nations to recover remark ably from the chaos and ma terial havoc caused by the last Great War. Massive public borrowings or bond issues have been resorted to. NOT BY RICE ALONE Abundance in rice is not enough to win and sustain the faith of the people in the government. There must also be abundance of goodwill, since rity, and honesty. — Fernando Lopez June 1968 11
pages: 11