It was the Great War, the War to End All the Wars… and Philippine abaca merchants were raking in sky-high profits. The world’s most powerful navies relied on this plant—which is native to the Philippines—to keep their warships in battle-ready shape. But what the First World War giveth, the First World War also taketh away.
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References:
Dacudao, Patricia Irene (2023). Abaca Frontier: The Socioeconomic and Cultural Transformation of Davao, 1898-1941. Ateneo de Manila University Press.
Crapo, G.R. (February 1926). “The Philippine Fiber Industry.” Proceedings, 52(2). https://www.usni.org/magazines/proceedings/1926/february/philippine-fiber-industry
Layton, J. Kent (undated). “Lusitania 100 years later: never forget.” National Museums Liverpool. https://www.liverpoolmuseums.org.uk/stories/lusitania-100-years-later-never-forget
Jose, Ricardo Trota (1988). “The Philippine National Guard in World War I.” Philippine Studies, 36(3), pp. 275-299. https://www.jstor.org/stable/42633097
Nagano, Yoshiko (2012). “The Philippine National Bank and Credit Inflation after World War I.” Global COE Hi-Stat Discussion Paper Series gd11-216, Institute of Economic Research, Hitotsubashi University.
Ybiernas, Vicente Angel (2012) "Philippine Financial Standing in 1921: The First World War Boom and Bust." Philippine Studies, 55(3), pp. 345-372.
