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The Bell Trade Act of 1946, also known as the Philippine Trade Act, was an act passed by the United States Congress specifying policy governing trade between the Philippines and the United States following independence of the Philippines from the United States.
…Filipinos objected to the so-called Parity Amendment, which required an amendment to the Philippine constitution allowing U.S. citizens equal rights with Filipinos in the exploitation of natural resources and operation of public utilities; nonetheless, some powerful Filipinos involved in these negotiations stood to benefit from the arrangement.
Aug 4, 2015 · Parity rights were equal rights for U.S. citizens and Filipinos to use the natural resources of the Philippines, granted by a 1947 constitutional amendment. Learn how the Parity Amendment was passed, why it was controversial and how it was replaced by the Laurel-Langley Agreement.
Philippine government into accepting the “parity rights” provision, the writer discusses the justifications for, scope and question of reciprocity of the “parity rights.” Then, the writer explains how the “parity” amendment was passed and ensured the American control of the Philippine economy.
The parity amendment, ratified in 1947, granted equal rights to US citizens and corporations in exploiting Philippine natural resources and public utilities. It was seen as a surrender of Philippine sovereignty and was revised in 1956.
I. PARITY RIGHTS. 1. The Period of the Commonwealth. The Philippines adopted its present Constitution in 1935. It was then under the sovereignty of the United States.
The US double-crossed the Philippines with the condition to assist the country through the Philippine Rehabilitation Act of 1946 in exchange that the Philippines amend the 1935 Constitution for the passage of the Bell Trade Act of 1946–granting the Americans in “parity” rights.
