The Rotary Balita no. 765 (February 23, 1855)

Administrator Alfredo Montelibano assailed before Rotarians, the "inconsistent and vacillating" policies of the Monetary Board of the Central Bank which he said destroy industrial incentive and create a new rank of partially employed laborers. The meeting was held at the Chevrolet assembly plant of the Yutivos on Peñafrancia Extension. Citing the case of the Northern Motors, the Rizal Motors and several others, Montelibano declared that the inadequate dollar allocations given these companies have forced them to close their doors. "It would be much better not to authorize the establishment of any plant or factory if we are not sure later on to give enough dollar quotas with which to insure efficient and full operations," Montelibano said. He urged the complete banning of importation of cars by private persons.