BASIC FACTORS OF :8CONOMIC
DEVELOPMENT
produced locally of these articles are insufficient to supply our local needs because the industri es in the Islands are few, small, and undev,eloped, and also because there has prevailed in the past a mistaken prejudice aga~nst articles of local production, considering them as inferior to imported articles. There is therefore a huge task to be done along the line of industrialization which would form an important part of any program of national economic development that may be adopted. No less important as a feature of such a national plan would --be the creation of more markets for the products of th\~ country and the expansion and dev·elopment of existing markets. Both in the domestic ma r}.~2t ann in tILe foreign field, wider and more extensive channels of distribution for our produ cts should be found. The present means of marketing and distribution available to our domestic producers should be improv1€d so that they may receive the maximum returns for their labors and so as to insure the regular and steady flow of commoditi es from the production centers to the places of consumption. Other important fe2;tures of the national plan would also have to be consider'2d. There is, fer instance, the establishment of a solid financial E.tructure to provide for a stable currency and adequate credit facilitk,s fer merchants, manufacturers, and producers, including small farmers, especiglly these in the rural centers where the bulk of our farm products are raised. Ther'3 is, also, the creation of more investm:mt channels t hat would t : nd to stimulate bu.s.iness dsvelopment and stop hearding that is still being indulged in by many pe ople elI'oughout t!1e Islands. The sucoess cf such a nati cnal economic pl2,n would have to rest on a systematic coordination of all the e::cncmic forces of the nation. The opening of road3 and highways, .s.hipping lines, railroads and otr.er transportatien facilities should 1::e in ha,l'mony with the national plan. The same thing s:10':.11d b2 true of our system of public education. There should be a proper adjuE.tment of the syst~m to the objectives of our national e~onomic plan. With such a well-coordinated naticnal policy, we can build up a well-rounded and well-balanced economic system. The Department of Agriculture and Commerce is now working to achi'2ve these ,ends. The different bureaus and offices un-
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