...Abby Johnson Mr. Son Mai History 202 September 14, 2011 America’s Greedy Actions The late 19th century was a time when the United States was going through many changes, causing most of the citizens to be greedy for money, land and many other things. During this time period, the Civil War had just ended and reconstruction was taking place. Reconstruction meant improvement in the government and an entire new lifestyle. Because America had new methods of labor, founded natural resources worth a lot of money, and new land to work with, they became greedy and wanted more of whatever they had. In the 19th century, several immigrants came to America for jobs, which led to what is known as today “cheap labor.” Being that so many immigrants were coming across the border for money, every one of them were opposing against each other, causing the outcome to be people working for little pay and the companies were making more money. Greedy Americans would make them work close to ten hours a day for six days a week, while their pay was between a range of ten to twenty cents an hour, depending on each one of their abilities. Because of this, many organizations and unions formed and strikes came about to show Americans that they will not make the middle class their slave. The Knights of Labor, founded by Uriah Smith Stephens, was an organization that accepted skilled and unskilled workers, women, and black people. This association called for eight hours of labor a day, however; this eliminated...
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...of contents Introduction 2 Country Overview 2 The Political Environment 3 Recent History 3 The Present Government 3 Political Stability 4 Opposition Parties 4 Economic and Financial Analysis 5 Trade History & Major Products 5 GDP Growth per capita 5 Unemployment & Price level Changes Inflation 6 Exchange Rate Innovations 7 Investments in the Stock Market 7 Investments in the Bond Market 8 Foreign Exchange Reserves 9 Structure of Industries 10 The Banking System 10 Monetary Policy / Money Supply Growth 11 Foreign Debt 12 Capital Flight 12 Asian Currency Crisis 13 Philippines before the crisis 13 What caused the Asian Currency Crisis? The effect it had on the Philippines and other countries 13 Looking into the Future 17 Prevention as the Best Form of Management 17 Some Policy Lessons From the Asian Crisis 17 Need for Great Caution About Financial Liberalization and Globalization 17 Manage External Debt Well and Avoid Large Debts 17 Manage and Build Up Foreign Reserves 17 The Need for Capital Controls and a Global Debt Workout System 18 Conclusion: Summary / Comments / Recommendations 19 Works Cited 21 Appendix A 23 Appendix B 24 Appendix C 25 Appendix D 26 Appendix E 27 Appendix F 28 Introduction The Philippines were ceded by Spain to the US in 1898 following the Spanish-American War. They attained their independence...
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...Investing in the Philippine Stock Market: Worth it! A Term Paper Presented to Ms. Auracel Laplana-Alejandro Humanities Division Ateneo de Davao University In Partial Fulfillment of the Requirements for the subject ENGL 23 – Writing Across the Disciplines Second Semester, SY 2014-2015 By Ronsard-Novem N. Timan Adlin Joey Almencion February 20, 2015 Investing in the Philippine Stock Market: Worth it! By: Ronsard-Novem N. Timan Adlin Joey Almencion Thesis Statement: This paper aims to discuss that although Investing in Stock Market is volatile, risky, and the maintenance is costly, it is a secondary of income, Highly Profitable and has a Long Term Benefits. Outline: 1.0 Introduction 2.0 Background 2.1 Stock 2.1.1 Types of Stocks 2.2 Stock Market 2.2.1 Purpose and Function of Stock Market 2.3 Philippine Stock Market 2.3.1 Brief History of the Philippine Stock Exchange 2.4 Income Bracket for Investment 2.5 Attitude of Filipinos on Investments 3.0 Advantages of Investing in Stock Market 3.1 Earn more Money 3.2 Long Term Growth Benefits 3.3 Highly Profitable 4.0 Disadvantages of Investing in Stock Market 4.2 Risky 4.3 Costly Maintenance 5.0 Refutation 6.0 Conclusion Investment can be considered as a Capital for each company to start their operations. Investment is not only limited to companies, but also for individuals. It is designed to be a source of income for those who have no interest in...
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...EDUCATION IN THE PHILIPPINES The education in the Philippines is not developed enough to achieve their UN Millennium Goal #2. The Philippines suffer in their bad educational cycle. Not all of the students in the Philippines are getting enough education for different reasons, and the effect of not getting enough education makes the future of the Philippines even worse. The education in the public schools is much weaker than the one in the private schools. The public schools follow the teaching styles of America and Spain, caused by the colonization of those two countries in the past history. (Weinberg 97) The Filipinos start off with 80% of them going to the elementary schools. However, the percentage decreases directly to only 48% of them going to the high schools. It even decreases down to 20% of the Filipinos, who go to the colleges and the universities. Even though students go to the schools to study, the books they use have several errors with unreliable information, grammatical and spelling errors. They ranked 7th place among the 9 Southeast Asian Nations in the area of education and innovation. Out of 138 economies in the world, the Philippines ranked 99th by having 112th place for Science and Math, and 76th place for Internet access. (“ABS CBN News”) There are various reasons why education in the Philippines is very weak. First of all, the country itself is too undeveloped and poor to support the education. The government does not take any care...
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... they made it their purpose that they would stay isolated from the world, so that they could focus on their nation and make it stronger. At the time, America would have needed a lot of attention to become the superpower it is today, however in the late 1890’s the American soldiers and political leaders broke the foreign policy by taking over the Philippines. Even though the men who spoke of the ceded Philippine, they had different messages through their tone. The first Spaniard to set foot on the Philippines was Ferdinand Magellan in 1521, however the actual invasion did not begin until 1564. Spanish power in the Philippines soon started to fall as other nations were starting to practice their spread of power in the mid 1700s. When the U.S.S Maine sunk in an American attempt to relieve the tension between Cuba and Spain exploded, the U.S. declared war on Spain and won a naval battle against them in Manila Bay, May 1, 1898. By the time U.S. got to the Philippines, the Filipinos has already declared their independence from Spain. However, their celebration did not last long when the Treaty of Paris 1898 transferred the Philippines to under the U.S.’s power. Wesley Merritt, William Mckinley, and Otis all had the same message to the Filipinos. Everyone pretty much said the same thing, but at the different times, to remind the Filipinos that the Americans were not their enemy. However, when Merritt made the first announcement, he was smooth, took some time to ...
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...finances during financial shortfalls. (Carter and Skiba, 2012) In the Philippines, Pawnshop is one of the financial service providers (FSP) that are helping to increase the access to financial services of underserved and unserved. For many Filipinos, pawning is the most convenient way to raise money, easier than securing a bank loan. In the Bangko Sentral ng Pilipinas Report on the State of the Financial Inclusion in the Philippines in 2011, the Banking sector is accounted for more than 80 percent of the total resources of the financial system. This means that the 20 percent are shared by other service providers such as pawnshops, money changers, remittance agents and FX dealers. Some municipalities in the Philippines have no banking presence but have access to pawnshops. While pawnbroking is the main business activity of pawnshops, nowadays many pawnshops are engaging into other auxiliary businesses such as money changing, remittance facilitation, foreign exchange dealership, and bills payment facilitation. Moreover, few pawnshops are offering cash in-cash out centers and offer mobile banking services. Financial economists have produced a large number of theoretical studies and empirical studies on mainstream banking services, but alternative financial services, and pawnbroking in particular, are hardly touched on in the literature (Carter and Skiba, 2012). With the growing number of pawnshops in the Philippines and the increasing activities and opportunities for pawnshop business...
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...HISTORY OF PHILIPPINE BANKING Philippine banking has a long and colorful history. It began in 1828 when, as the Philippines reaped the benefits of increased trade, King Ferdinand VII of Spain issued a decree mandating the establishment of a public bank in the Philippines. However, it took 23 years before that bank could become a reality. The man behind the actual organization of the bank was no less than the governor-general of the Philippines at that time, His Excellency Antonio de Urbiztondo y Eguia. Gov. de Urbiztondo was a marquis of Solana in Spain who was named governor-general of the Philippines in 1850. His term of office was characterized by many administrative innovations, so it was not surprising that six years later, he would be called back to Madrid to take on a bigger role as Spain's new minister of war. As the highest-ranking government official in the Philippines, Gov. de Urbiztondo called for the support of the Junta de Autoridades (a committee comprising of civil and ecclesiastical officials) in approving the bank's statutes and by-laws. The junta approved these statutes and by-laws on August 1, 1851, but it was understood that such approval had to be confirmed by the Spanish Crown. The bank was called El Banco Español Filipino de Isabel 2, in honor of the reigning queen of Spain – Isabella II, daughter of King Ferdinand VII, who passed away in 1830. The Bank's office was located at the Royal Custom house (Aduana) in Intramuros (Intramuros...
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...or adding territories, and expanding its control over other nations throughout the time period. We were associated with imperialism over Hawaii, Latin America and the Philippines. There was societal, economical, and political impacts from imperialism. The United States was justified in annexing foreign territories and expanding its control over other nations during the late 1800s and early 1900s Societal issues impacted imperialism in The United States in a positive way. They attempted to spread Christianity throughout other countries. If you do not have christian beliefs, this would be dreadful. On the other hand, if you do practice...
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...When the United States bought the Philippines from the Spanish as a part of the 1898 Treaty of Paris, which ended the Spanish-American War, few Americans knew the difficulties they would face in the islands’ administration. A Nationalist group under rebel leader Emilio Aguinaldo had already set up a Filipino government in Manila, capital of the Philippines. Many Filipinos viewed the Americans as liberators, and were shocked and dismayed to learn that the Americans did not intend to recognize their new government. No sooner had the Americans exerted their sovereignty over the islands than they faced a dogged guerrilla war. On December 21, 1898, President William McKinley set the course for American policy in the Philippines. It was largely an attempt to set American Imperialism apart from the abusive European Imperialism which had led to the Spanish-American War. He announced the military occupation of the islands but also outlined a plan for the benevolent assimilation of the natives. As he proclaimed, “we come, not as invaders or conquerors, but as friends,” therefore, “it should be the…paramount aim of the military administration to win the confidence, respect, and affection of the inhabitants of the Philippines.” In practical terms, this meant building roads, schools, hospitals, introducing improved farming techniques, and preparing the Filipinos for the day when they are able to govern themselves. Using this policy of benevolent assimilation, the Americans were...
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...Introduction Why do we need to borrow money?There a numerous reasons for the borrowing of money but common ones are; home loans, purchasing of cars, insurance, purchasing of business companies etc. People borrow money in general because they either can’t afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realize is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank. Money is a peculiar thing that life seems to be centered around. You need money to buy things, both necessities and desirables. You work to earn money and need money to get to work. You need money to travel and visit new places. You even need money to receive prescriptions for health. Before you sign up for a credit card or bank loan, there are some questions you need to answer before you borrow money. You should ask yourself if you need to spend the money, if you have other ways of financing the purchase and if you can afford to pay back the money you’re planning to borrow. Borrowing money becomes a problem if you borrow too much – that is, more than you can afford. It’s a problem if you borrow to where you can’t do other things or if you need to borrow to pay your regular monthly expenses. Just like your own money, you have to stay in control of the money you borrow from others. Borrowing money doesn’t have to be a bad thing. It...
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...Evolution of Homosexuality in the Philippines Introduction US Secretary of State Hillary Rodham Clinton once said: “Gay people are born into and belong to every society in the world. They are all ages, all races, all faiths. They are doctors and teachers, farmers and bankers, soldiers and athletes. And whether we know it, or whether we acknowledge it, they are family, our friends, and our neighbors. Being gay is not a western invention. It is a human reality.” Homosexuality can be tracked throughout history. In ancient Rome, philosophers, such as Socrates, were having sexual practices with their students. They believed it was a part of becoming a man. The Bible, one of the oldest books in literature, discusses homosexual practices among the citizens of Sodom and Gomorrah. Some of the most influential people throughout history were discovered to be homosexual: Alexander the Great (356-323 B.C.), Leonardo da Vinci (1452-1519), Oscar Wilde (1854-1900) and Tennessee Williams (1914-1983). http://main.uab.edu/Sites/students/life/safe-zone/33566/ Homosexuality is worldwide and has a global impact on society. It transcends borders, cultures, and governments. The homosexual society even bears its own international flag, a rainbow which signifies the bond between different people all over the world. The society shows how peace can be achieved throughout the...
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...process of making money. We went to Bangko Sentral ng Pilipinas. When we enter the BSP, I noticed that the building is highly secured. We are restricted to bring cellphones, cameras, gadgets and our bags and we're only allowed to bring personal belongings. First Our tour guide shows us the different series of banknotes like the Bagong Lipunan series banknotes, New design series banknotes, New Generation banknotes and some various overprints. Then our tour guide takes us to a briefing room where he shows us different videos about the Evolution of Philippine Money and the process of how to make banknotes and making coins. I learned a lot and also the videos were useful since it includes the security features in the new generation banknotes so now I know what to look for in the new generation banknotes to define if it is real or fake. Next is she took us to a floor where we can see the BSP employees do their job as they work on their workplace making the e-passports. Our tour guide explains that it is called electronic passports because it has a silicon chip where all the personal information is put. We're also showed the different facilities making the banknotes from the start to the sheet-cutting and ending at the counting process. Through the tour she explains that there are some foreigners included in the workers because they are training the employees in using and maintaining the new machines. It is a relief to know that even the machines that is use to make money are also being...
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...the form of campaign contributions or votes. In the popular 1863 story "The Children of the Public", Edward Everett Hale used the term pork barrel as a homely metaphor for any form of public spending to the citizenry. After the American Civil War, however, the term came to be used in a derogatory sense. The Oxford English Dictionary dates the modern sense of the term from 1873.primarily to bring money to a representative's district. Pork Barrel is never a new concept. In fact, the Philippines may just have patterned the concept and idea from the world’s practices .Pork barrel and Janet Lim- Napoles are two inseparable terms now in the Philippines. The government’s chief auditor reported that a dozen senators and scores of congressmen had directed billions in pork-barrel money into fishy NGOs over three years. The money (given to members of Congress to spend in their constituencies on projects of their own choosing) was disbursed during Mrs. Arroyo’s term. But Mr. Aquino’s first reaction was to defend the pork-barrel scheme. That is because he is at the apex of the Philippines’ pyramid of political patronage, so has the final say on whether other politicians get their pork. When he was member of Congress, he received pork-barrel funds. In the absence of an effective political party system, the pork-barrel arrangement gives Mr. Aquino a degree of influence over Congress. The Priority Development Assistance Fund (PDAF), a government program, has...
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...Media Overview Highs of the media's history in the islands include the Philippines' Constitution guaranteeing freedom of the press and the freedom of the press access to official documents. In contrast to these lofty ideals, the Philippines press from the time of its inception has faced American influence, confiscation of assets for those papers not among the ownership of a former leader, and mistrust of reporters due to shoddy reporting. Newspapers were being published on board American ships as they first entered Manila Bay in 1898. The Bounding Billow was published on board Dewey's flag-ship, and other on-ship U.S. papers included the American Soldier, Freedom and the American, according to the Philippine Journalism Review. These early papers followed U.S. attempts to "civilize" the Filipinos. American journalists in the Philippines went so far as to characterize the natives as "little brown soldiers who enjoyed parading before the patient Americans," and as "a group of warlike tribes who will devour each other when American troops leave." The Americans wasted no time in establishing a press system in the Philippines modeled on that of the one in place in the United States. The Manila Times published its first issue in October 1898, making it the first English-language newspaper in the islands. Newspapers published in the Philippines were under strong American influence and went so far as to champion the annexation of the islands by the United States. Among the newspapers...
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...A TRIP TO THE BIBLE MUSEUM Czarina Ann Baptisma, Jerson Cristobal, Angelica Enriquez, Maria Jennylyn Sendito, Lejun Christian Osorio We were pleased to see that the Bible Museum here in the Philippines on its feature all owned. With the theme, How the Bible Came to the Philippines, we were stunned of the interconnection of knowing the Bible more in such a way that we took the correlation of it to the Philippine history. In fact, the tour is different, a religiously inspiring one. This museum can be found on the second floor of the nine-story Philippine Bible Society on United Nations Ave. The museum is an organization whose mission is to promote the reading of the Holy Bible. It translates, prints, and distributes the Holy Scriptures. At around 3 o’clock in the afternoon last Wednesday, December 5, 2012, we went to the Philippine Bible Society on United Nations Ave. While waiting for the whole class to be complete, we stayed at the first floor of the nine-story building. The first floor houses a bookstore where one can buy Bibles and other religious memorabilia including mugs, key chains, t-shirts, and many more. At around 3:15, Kuya JM, our tour guide, led us to the second floor of the building, where the Bible Museum is located. Before getting inside the museum, he told us that we are not allowed to take pictures inside the museum unless told so. There were a total of 15 modules. The first three was about the time when God spoke to Abraham to when God revealed the Ten...
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