Elpidio Quirino,
Second State of the Nation Address
“ We have these past years since liberation seemingly enjoyed a life of plenty and even a luxury, not so much as a result of our productive energies as because of the temporary flow of money into our economy. Presently there is the large gap that has developed between the value of the products that we sell abroad and the cost of the products that we buy and bring into our country. We must realize that this state of affairs cannot continue without causing such disequilibrium in our economy as would eventually engulf us in the tremendous difficulties which other countries have experienced. ”
