The Philippine National Bank and
Lending in Agriculture: 1916-1930

Yoshiko Nagano

December 2011


This paper examines the distinctive features of the Philippine National Bank, particularly through its lending practices in agriculture. First by examining the enactment and revision of the National Bank Act, the Bank's characteristics as an organization and operations are discussed. Second, the process by which the Bank began its operations and administration of agricultural loans is traced. Third, the 1918 dispute over lending in agriculture is depicted as a striking example of the nature of its banking operations, before presenting the dual structure of agricultural loans provided by the National Bank as the conclusion.

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