The formulation of an economic development plan for the attainment of prosperity has been a sustained endeavor in the Philippines. Numerous plans have already been proposed. The first was that contained in the report, dated May 20, 1938, of the Joint Preparatory Committee on Philippine Affairs created in 1937 between the President of the Philippine Commonwealth and the President of the United States which recommended the economic readjustment of the Philippines in the face of the forthcoming elimination of the preferential treatment of Philippine products with the advent of independence under the Independence Act. Owing to the abundance of plans already proposed, it is not the intent of this work to formulate a separate and comprehensive economic plan or to present an organic narrative of the conditions of the economy which are already contained in the previous plans. This work will likewise not delve in those activities like mining which have become accepted and routinary operations of the government in the task of economic development and in which it is to be assumed that the authorities will continue to seek increasing sucess as a necessary link in the chain of the nation's total economic effort. It is the purpose of this thesis rather to lay stress on certain vital phases of the plans already formulated and the urgent problems posed.