Where we are heading is the point

Justice Oliver Wendell Holmes, one time, took a train. Along the way, the train purser approached him for his ticket and he noticed he might have misplaced it. As the justice was checking his pockets, the purser realized it was Justice Holmes he was asking a train ticket for and he did his best to sound apologetic. When the magistrate continued looking for his ticket, the purser respectfully informed the justice that it was alright if he did not have it and that he need not pay again. Holmes retorted it was not all about paying again. What concerned him was knowing where he was going.

This month, the Rural Bank of Padre Burgos, in Southern Leyte, a small enterprise, is celebrating its 26th anniversary. In a recent meeting of its stockholders, most of whom composing its board, they decided to pause and instead of plunging into the business of planning for the next fiscal year, as most corporate boards usually would, they tried to understand, ala Justice Holmes, if they still had the same direction as when they organized the business.

Padre Burgos is a tiny community. Bounded on the north by the municipality of Macrohon and the old town of Malitbog (home of the rich Escano family) to the Southwest, it has 11 barangays but its total voting population is even smaller compared to say, Barangay Luz in Cebu City. Before the historic Limasawa island became a separate municipality, though, it was a part of Padre Burgos.

Prior to the bank's founding, not many businessmen wanted to invest there. To them the town's configuration and relatively marginalized market was not ideal for any kind of financial enterprise. After all, one could reach the provincial capital, Maasin, recently a city, traveling in just 25 minutes.

There were, however, favorable factors on Burgos side. Because the larger Panaon island, location of the towns of Lilo-an, San Francisco and Pintuyan, and later of San Ricardo, was then not yet connected to the mainland, it was faster crossing the bay to those municipalities from the small port of Burgos. At other times, there were pump boats ferrying people to Surigao, in Mindanao. Of course, there was the daily traffic to Limasawa. In other words, the town was a busy transit point.

Fishing vessels, probably for reason that the shoreline was ideal for that kind of business, would prefer to drop anchor at Burgos to unload their cargoes. From the town, couriers would fan to different directions of the province carrying fresh fish.

Precisely because of those factors mentioned above, the few individuals invested their funds to found the rural bank. While they were encouraged by the incentive then consisting of a peso-for-peso counter funding by the government, they believed in providing a vehicle for the economic stability of the residents.

The bank injected into the minds of its clientele the value of thrift, frugality and the power of small-scale enterprise. Whatever little business their forefathers strived on, they tried improving with a wider capital base. Sooner than later, their business horizons expanded.

The bank owners, (the Palermos and the Cabilaos), officers and staff led by Monica Dospueblos, have been doing their tasks with silent efficiency. Adulation was not on their minds. But when the Land Bank of the Philippines, awarded the rural bank the recognition of being among the best in the region, everyone involved realized they were in the right direction. The award, given for two consecutive years now, made the point. To be sure that they don't go astray, in their last annual meeting, they decided to do a Justice Holmes.

As its president for the third year, I write about this little success of the Rural Bank of Padre Burgos, Inc., conscious that many other enterprises are more successful. I trust that our philosophy of remembering the reason for our existence and understanding our direction works. I hope that in like manner, our government leaders know why they are there and where should the direction of our country be.