The poor people of Tondo, our slum area, came over to Malacañang at 4:00 PM to pledge loyalty to me in the fight against the oligarchs. Students, activists, laborers and intellectuals were there.
We could make this the rallying cry, “Fight the oligarchs who suppress our people!”
And make it a nationwide movement. The cry is catching fire. For one thing the word “oligarch” is in everybody’s lips.
“No compromise. No turning back. Let us now reform our society. Let us give true equality.”
I intend to propose a strong anti-trust law to break up the big monopolies and the combines that dictate prices and depress the people. The monopolies or combines are in sugar, rice, copra, flour, steel, textiles and cement.
Official Gazette for January 15, 1971: President Marcos, in remarks before a delegation of several thousands from Tondo, who marched to Malacañang late in the afternoon, said he would pursue his fight against the country’s oppressive oligarchy in the name of “country, honor and duty” and that he had “absolute confidence” that the people will support him In fighting for their own cause.
For two solid hours, the Malacañang reception and ceremonial halls were turned into a public forum as the leaders of the various groups sought firm assurance from the President that he would pursue to its logical conclusion the fight he has begun with oppressive pressure groups identified with the oligarchy. In addressing the crowd, the President said it was now time to effect drastic changes in our society. Aside from the marchers who pledged their support to the President, various individuals and groups from various parts of the country also pledged their all-out rapport to the President in his fight against the oligarchy.
Earlier in the day, the Chief Executive ordered the temporary return, of the prices of all oil products to the January 8, 1971 levels until the reasonable prices for them shall have been determined by the Price Control Council. He issued the order in a memorandum to the Price Control Council following a series of conferences with the drivers of jeepneys, buses and taxis, and their representatives and leaders, and a spokesman of the local oil companies. The presidential directive was issued so as to give all parties concerned a cooling off period of seven days and to effect the early lifting of the strike being staged by jeepney drivers.
Among other actions, the President also approved the hosting by the Central Bank of the Philippines of the Sixth Conference of Governors of Central Banks in Southeast Asia with Baguio City as the conference site. The governors of Central Banks in Southeast Asia decided in 1964 to meet once a year, primarily to discuss the monetary and economic Problems existing in their countries and to study together common problems of economic development of the region.
In the evening, the President extended official welcome to the 9th Japan Industry Floating Fair aboard the “M. S. Sakura Maru” at Pier 15 at the Manila South Harbor. The First Lady, Mrs. Imelda R. Marcos cut the ceremonial ribbon, formally opening the floating fair. Present at the opening rites were members of the diplomatic corps, ranking government officials and representatives of prominent business organizations in Manila.
And I intend to propose a radical plan of profit sharing and a new concept of ownership of private property.
Slowly the issues are clarifying as I dissociate myself from the oligarchs, some of whom are our friends.
These oligarchs as meant in this case are the families that remain powerful and influential no matter who are the persons or parties in power.
The symbol of these oligarchs are the Lopezes who have always struck terror into the hearts of government men.
I convinced the oil executives, Mr. [J. J.] Wolohan and Wales accompanied by Francis Ablan to accept the roll-back to the rates and prices of oil commodities as of Jan. 6th before the Villegas committee set a 2 centavo increase for regular gasoline and issued an order to the Price Control Council to this effect—effective one week within which time the Price Control Council should set the prices with the regular gasoline kept at a low level even if the premium gasoline should be increased by five centavos. I attach the order.
I opened the Japanese Floating Trade Fair on the “Sakura Maru” at 6:15 PM with Imelda.