Prime Minister of the Philippines
On December 10, 1898, on the other hand, the war between United States and Spain was concluded with Spain giving up all rights to Cuba and surrendering the Philippines, Guam and Puerto Rico to the United States. Two days later, Aguinaldo ordered his lawyer Felipe Agoncillo to contest the Philippine status as an independent nation and no longer a Spanish colony since the declaration of independence on June 12, 1898. However, the United States did not recognize Philippine sovereignty and announced their interest to annex the country by January 1899. This brought into serious foreign conflict when the Republic was formally established in January 23 at Malolos. By January 30, Aguinaldo resent Agoncillo, this time to the United States Senate, so as to reconsider their plans to annex the country and instead formally recognize Filipino independence.
Bangko Sentral ng Pilipinas
By 1933, a group of Filipinos had conceptualised a central bank for the Philippine Islands. It came up with the rudiments of a bill for the establishment of a central bank after a careful study of the economic provisions of the Hare–Hawes–Cutting Act, which would grant Philippine independence after 12 years, but reserving military and naval bases for the United States and imposing tariffs and quotas on Philippine exports. However, the Hare–Hawes–Cutting Act would be rejected by the Senate of the Philippines at the urging of Commonwealth President Manuel L. Quezon. This Senate then advocated a new bill that won United States President Franklin D. Roosevelt's support, this would be the Tydings–McDuffie Act, which would grant Philippine independence on July 4, 1946.