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When the Civil Government was established in the Philippines, the most important laws passed by the Philippine Commission were the following: Tariff Revision Law of 1902 based on the theory that the laws of Spain were not as comprehensive as the American Customs Laws to conform with the existing conditions of the country. Philippine ...
The Taft Commission, also known as the Second Philippine Commission (Filipino: Ikalawang Komisyon ng Pilipinas), was established by United States President William McKinley on March 16, 1900, following the recommendations of the First Philippine Commission, using presidential war powers while the U.S. was engaged in the Philippine–American War.
The Insular Government evolved from the Taft Commission, or Second Philippine Commission, appointed on March 16, 1900. This group was headed by William Howard Taft, and was granted legislative powers by President William McKinley in September 1900. The commission created a judicial system, an educational system, a civil service, and a legal code.
The Philippine Organic Act of July 1902 approved, ratified, and confirmed McKinley's executive order establishing the Philippine Commission, and also stipulated that the bicameral Philippine Legislature would be established composed of an elected lower house, the Philippine Assembly, and the appointed Philippine Commission as the upper house.
A tariff is called an optimal tariff if it is set to maximise the welfare of the country imposing the tariff. [73] It is a tariff derived by the intersection between the trade indifference curve of that country and the offer curve of another country.
The average tariff levels for the major GATT participants were about 22 per cent in 1947. [6] As a result of the first negotiating rounds, tariffs were reduced in the GATT core of the United States, United Kingdom, Canada, and Australia, relative to other contracting parties and non-GATT participants. [6]
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.