Economics

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  • Topic: Corazon Aquino, Benigno Aquino, Jr., Ferdinand Marcos
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  • Published : May 13, 2013
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Brief Historical Timeline
Brief Historical Timeline of the Hacienda Luisita Land Dispute Spanish Period
Hacienda Luisita was once owned by the “Compañía General de Tabacos de Filipinas,” also known as “Tabacalera”, founded in November 1881 by Don Antonio López y López, a Spaniard from Santander, Cantabria, Spain. Lopez acquired the estate in 1882, a year before his death, and named it “Hacienda Luisita” after his wife, Luisa Bru y Lassús. Lopez was considered a financial genius and the “most influential Spanish businessman of his generation.” He counted the King of Spain as a personal friend. Luisita was just one of his haciendas. Lopez also owned estates in other parts of the country: Hacienda Antonio (named after his eldest son), Hacienda San Fernando, and Hacienda Isabel (named after his eldest daughter). Tabacalera’s incorporators included the Sociedad General de Crédito Inmobiliario Español, Banque de Paris (now Paribas), and Bank of the Netherlands (now ABN-AMRO). Luisita was a sugar and tobacco plantation. American Period

During the American Occupation (1898 to 1946), the Tabacalera experienced prosperous times because of the legendary sweet tooth of the Americans. As Cuba could not supply all of the sugar requirements of the United States, they turned to the Philippines. At one point, Hacienda Luisita supplied almost 20% of all sugar in the US. Japanese Regime

During the Japanese occupation, Hacienda Luisita continued to operate, like all haciendas and tabacaleras in the Philippines, because the Japanese wanted to ensure that commodities such as sugar and rice were available to Filipinos.

Pepe Cojuangco Period
1957
Problems with Huk rebels led the Spanish owners of Tabacalera to sell Hacienda Luisita and the sugar mill Central Azucarera de Tarlac. The late Philippine President Ramon Magsaysay reportedly blocked the sale of the plantation to the wealthy Lópezes of Iloilo, fearing that they might become too powerful as they already owned Meralco, Negros Navigation, Manila Chronicle, ABS-CBN, and various haciendas in Western Visayas. Magsaysay and the late Senator Benigno Simeon “Ninoy” Aquino, Jr. discussed whether Jose Cojuangco Sr., Aquino’s father-in-law, could acquire Hacienda Luisita and Central Azucarera de Tarlac from their Spanish owners. Magsaysay was a “ninong” (principal sponsor) at the wedding of Ninoy and the late President Corazon Cojuangco Aquino, parents of the incumbent President Benigno Simeon “Noynoy” Aquino III. August 1957

The Philippine government facilitated the Cojuangcos’ takeover of Hacienda Luisita and Central Azucarera de Tarlac by: (1) Providing Central Bank (CB) support to help the Cojuangcos obtain a dollar loan from the Manufacturer’s Trust Company (MTC) in New York for the purchase of the sugar mill (Central Azucarera de Tarlac). The CB had to deposit part of the country’s dollar reserves with MTC for MTC to release Cojuangco’s loan. The CB’s intervention was done under the condition that Cojuangco would also acquire Hacienda Luisita, not just the sugar mill, “with a view to distributing the hacienda to small farmers.” (2) Granting the Cojuangcos a peso loan through the Government Service Insurance System (GSIS) to purchase the hacienda. November 25, 1957Brief Historical Timeline

Brief Historical Timeline of the Hacienda Luisita Land Dispute

Spanish Period
Hacienda Luisita was once owned by the “Compañía General de Tabacos de Filipinas,” also known as “Tabacalera”, founded in November 1881 by Don Antonio López y López, a Spaniard from Santander, Cantabria, Spain.

Lopez acquired the estate in 1882, a year before his death, and named it “Hacienda Luisita” after his wife, Luisa Bru y Lassús.

Lopez was considered a financial genius and the “most influential Spanish businessman of his generation.” He counted the King of Spain as a personal friend.

Luisita was just one of his haciendas. Lopez also owned estates in other parts of the country: Hacienda Antonio (named...
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