No sooner had the fanfare of the independence festivities ended that the government and the people quickly put all hands to work in the tasks of rescuing the country from its dire economic straits. Reputed to be the most bombed and destroyed country in the world, the Philippines was in a sorry mess. Only Stalingrad and Warsaw, for instance, could compare with Manila in point of destruction. All over the country more than a million people were unaccounted for. The war casualties as such could very well reach the two million mark. Conservative estimates had it that the Philippines had lost about two thirds of her material wealth.