The Question of the Philippines : An Address Delivered Before the Graduate Club of Leland Stanford Junior University, On February 14, 1899

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The whole trade of all the tropics will, at the best, be but a trifling part of the commerce of the world. Certain drugs, dyes, and fruits, mainly natural products, with sugar, tobacco, coffee, and tea make almost the whole of it.
So far as San Francisco is concerned, she has not much to gain or lose from our actions in the Philippines. She will always be a noble city, a great city, but never an enormous one. She will not be the gigantic mart of the Orient, nor even the Chicago of the Pacific.
...The Pacific may be our ocean, but it is too wide to be an equal of the Atlantic. Besides, San Francisco has too many rival ports. She has little to sell but flour and fruit, and no ships to carry even these.
43 The trade with Manila, consisting now of outgoing transports carrying troops and returning with coffins, will never make San Francisco rich.
It is true that conditions may change, but no signs of improvement are visible yet.
Yet it is true that commercial Imperialism might pay if we were free to act as England would with her wisdom, her experience, and her selfishness ; but only on a vast and generous scale, considering com- mercial results only, could we make her policy effective.

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