Pepce
ce RSNeneA
oy
'
2 rete cmanaeams oe ae ces migon
as
Chapter 4
Chapter 5
|
ae.
gc
ECONOMIC EQUALITY
Under Article 8 of the Trusteeship
Agreement, the Administering Authority, subject to requirements of security
and obligations to promote the advancement of inhabitants, accords to
nationals, companies, and associations
of each nation treatment in the Territory no less favorable than that accorded to nationals, companies, and
associations of any other national except the Administering Authority.
PRIVATE INDEBTEDNESS
Usury, as commonly known, is gi
generally a problem. There J
instances, however, of interest rates:
private loans between individuals ]
high as 10% a month. Credit unig
by making it easy for members]
borrow money for useful purposes g
réasonable interest rate, have redug
this problem considerably.
4
SECTION 4:
ECONOMIC RESOURCES,,
ACTIVITIES, AND SERVIC
Legislative
provisions
have
a
co
}¥
made for plant and animal quarang
Chapter 1
to prevent import and spread of hag
GENERAL
The Administration has by law
restricted ownership ofland to citizens
of the Territory. The restriction, how-
ever, does not divest or impair the
right, title, or interest of noncitizens
or their heirs or devisees, in lands in
the Territory held by such persons
prior to December 8,
1941. Under
some circumstances lands may be
leased by noncitizens of the Territory
for investment purposes if the projected use of the land promises direct
economic benefits to the people of the
Territory.
48
ful pests throughout the Territg
Controls on clearing land by bun
have been established. Harvesting
trochus may be restricted to a seg
May through December, at the digg
tion of the district administrator
trochus shell less than three inchg
diameter at the base is to be ta
Replanting of trochus beds is aug
ized. Fishing with dynamite, ¥
grenades, or any other form of;
plosive, except for specific author
scientific purposes, is prohibi
Restrictions on taking turtles, spol
and black-lip mother-of-pearl og
shell are in effect. These regulatiog
relate to conserving and protecting!
economic resources of the Terrill
penalties are provided for viola
Part VI—Economic Advance