Labor

Title

Labor

Language

English

Source

The American Chamber of Commerce Journal Volume XXIV (Issue No.5) May 1948

Year

1948

Rights

In Copyright - Educational Use Permitted

Fulltext

May, 1948 AMERICAN CHAMBER OF COMMERCE JOURNAL 177 vs. China Banking Corporation. This case involved the legality of the payment made by one Haw Pia on various occasions from October 7, 1942, to August 29, 1944, to the Bank of Taiwan as liquidator of the China Banking Cor poration of certain sums owed by Haw Pia to the China Banking Corporation and secured by mortgage. Haw Pia asked-that the Bank be compelled to execute a release of the mortgage in view of her payments, contending that her payments to the Bank of Taiwan discharged her obliga tion. The Court upheld the plaintiff’s contention, revers ing a decision to the contrary by the trial court, and direct ed that the Bank execute the document in question. Jus tice Feria, in the majority opinion, stated that the Japa nese military authorities had power to liquidate the banks, that their actions were a valid exercise of this power, and that the obligation was therefore discharged. The Court in effect finds the actions of the Japanese to have been legal and their intentions good; no suggestion is made that the payment was under compulsion, and no distinction is made between payments made in 1942, when "Mickey-Mouse” money had some value, and payments made in later years when this value was greatly reduced. Labor From an Official Source May 1 — President Elpidio Quirino states in a Labor Day address at the Rizal Memorial Stadium that he is deeply moved by the magnitude and orderliness of the day’s demonstration by the workers of the country. “I am most confident that under an unselfish and far-sighted lea dership, our workers can be counted upon to exert their combined po wer in the building’of this new nation is such manner and measure that every element, through an implementation of the constitutional man date, shall enjoy its just share of security, prosperity, and happiness. I consider it my highest duty as head of this nation to insure the well being and economic security of all the people, especially the poor and laboring classes from which I myself have risen, and I pledge myself to the carrying otlt of that duty to fruition. . . The objective of all enlightened governments is the promotion of the greatest good for the greatest number. Labor derives its importance from the fact that it is most numerous. It is also the sinews and bone of society, without which no economic structure can subsist. . . Our country is so blessed by kind Providence with wealth untold that there need be no appre hension that honest labor will not be rewarded. Our population is but a small portion of the maximum number that this vast wealth can support in contentment. There is enough of the good things of life allotted to our country and people by the Almighty. . . As possessors of this wealth, it should be our duty as a people to make use of it and share it alike with industry, and intelligence. There need be no disputes between labor and capital, for both are necessary in this great endeavor. The long-standing problem here as well as throughout the world is how ko maintain the balance between labor and capital so that these two vital forces of our economy will joyfully exert their maximum efforts to increase constantly the usable wealth of the country and reap their just shares of the rewards of their endeavors. The coordination and syn chronization of their activities have been the concern of every state. It shall be my daily preoccupation as it is my ambition to bring labor and capital together on a more equitable and workable basis of asso ciation. . . The present situation suggests the creation of a LaborCapital Advisory Board, representing the leading elements of labor and capital as well as the Government, to give advice on labor policies. . . It is not the aim of the Government to impose its will or to dictate the manner in which labor shall organize or its problems with capital shall be handled and solved. The role of the Government shall be that of a mere ballast, * insuring stability and reason when conflicting and clashing interests threaten to get out of hand. The Labor-Capital Advisory Board will be a sort of round-table for labor and capital to discuss their mutual problems with open minds and in the spirit of goodwill. When on top of their accumulated differences labor and ca pital can not reconcile themselves, it is the duty of the Government to step in and pave the way for understanding. That duty is inherent in its obligation to husband its manpower and capital resources in its supreme effort to raise the country from postwar paralysis and pros tration. Only when labor and capital can exist side by side in a happy partnership can there be an assurance of economic recovery and pro gress. . . This,is the time for solidarity, for unity, for a new era of goodwill and understanding. I assure you that the Government will take a genuine interest in the achievement of such an end. I shall pray for its consummation.” Special Offering FOR ONE WEEK ONLY MAY 17TH TO MAY 22ND INC. 25°\O DISCOUNT ON Johnston 8s Murphy Allen Edmonds ROBLEE AND WRIGHT ARCH PRESERVER SHOES FOR MEN Special Group Now Fl8.95 Values to P45.50 P24.95 AMILTON-BROWM GREAT EASTERN HOTEL BtDG. | ECHAGUE, MANILA

pages

177

Media