The Eve of Christmas
Cabinet meeting up to 3:30 PM this afternoon. This will be the last meeting for the year. We received the progress of the year.
The Secretary of Finance, the Governor of the Central Bank and the Economic Planners (Gerry [Gerardo] Sicat of NEC [National Economic Council] and Dr. A. [Apolinario] Orosa of PES [Presidential Economic Staff]) all talk happily of the increase in GNP [gross national product] growth.
But I have a feeling all is not well with the economy. The steel people say they are not moving and if things continue they may close up. The cement people are at the end of the rope. Copper prices are down from 60 cents to 46 cents per pound and the smelters are not accepting the additional production of our mines due to expansion. Log and wood prices are down and the demand has decreased.
And the price of prime commodities like rice is still high.
Peace and order is at its worst. There is cynicism and frustration.
So I have demanded a reassessment of our fiscal and financial policies.
We will increase our infrastructure expenditure to P1.2 billion up to P1.5 billion.
We intend to reverse the 1971 trend of less expenditure for economic development and more for national defense and social development.
Then more emphasis on agricultural and industrial production.
“In a society menaced by social, political and economic opportunism and unrest, it is oftentimes necessary to speak of total rebirth in order to attain our objectives. Let us, on this occasion, afford ourselves a deeper reflection on this.
“If we need to build a more lasting solidarity and oneness, let us now build it.
“If we need to keep a strong faith, as well as a higher sense of duty to ourselves, let us now work for it.
“The true meaning of Christmas would be lost, if it does not bring us to a deeper consciousness of the duties that we bear towards our neighbors, our families and the future of our human community. For every single one of us who is fortunate and has much to thank for and celebrate this Christmas, there are thousands upon thousands, in our country and outside, who are hungry and deprived.
“I ask the more fortunate among us to share the spirit of Christmas with the less fortunate.
“At the same time I ask our people to now unite in one common resolve and end all petty quarrels and disputes that detract from our national goals. Our society must progress without internal dissidence or civil strife, we must build a more lasting society of our own and more effectively join the rest of the world in putting an end to the conflicts that divide nations and peoples.
“I especially appeal to our own Christian and Muslim brothers in the South to find new ways of productive cooperation so that they may continue to live harmoniously together, not merely as Muslims and Christians, but as Filipinos bound to a common destiny under a common flag.
“Our country and our people will be strong so long as we know the meaning of hard work, dedication, and sacrifice. I, therefore, ask our people to forge on this occasion, a new covenant among themselves based on hard work, dedication, and sacrifice.
“Merry Christmas to you all.”
I attach the votes in the cabinet meeting.
Admiral Samuel Morrison, the noted naval historian who wrote the naval history of the United States.
He laughingly commented that Ferdinand Magellan violated all the rules of amphibious landing in Mactan where he lost his life leading his men on the attack and the last man to retire on the withdrawal when they met heavy opposition.
Christmas dinner for the entire clan—the Marcoses and the Romualdezes.