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February 04, 2012

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Wow! Thanks Noel.

A very interesting story. And I suppose once opinion in favour of independence for the Philippines gained traction in the United States by the 1910s there would have been little incentive to change the policy and have the Philippines adopt the US dollar anyway like what happened in Puerto Rico when the US dollar was fully introduced after the expiration of the charter of the Bank of Puerto Rico (and with it the currency issued by the bank denominated in "pesos" and "dollars"). One wonders how the Philippines would have fared if they had received a similar treatment as Cuba (independence in the early 1900s even if circumscribed constitutionally).

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