The Philippine Islands: A Political, Geographical, Ethnographical, Social and Commercial History of the Philippine Archipelago, Embracing the Whole Period of Spanish RuleForeman, John, F.R.G.S.
History
The Philippine Islands: A Political, Geographical, Ethnographical, Social and Commercial History of the Philippine Archipelago, Embracing the Whole Period of Spanish Rule
Foreman, John, F.R.G.S.
Philippines
When the merchant citizens of Manila were in clover, they made
donations to the Government to cover the deficits, and loans were
raised amongst them to defray extraordinary disbursements, such as
expeditions against the Mahometans, etc. In the good years, too, the
valuation of the merchandise shipped and the corresponding returns were
underrated in the sworn declarations, so that an immensely profitable
trade was done on a larger scale than was legally permitted. Between
1754 and 1759, in view of the reduced profits, due to the circumstances
already mentioned, the Manila merchants prayed the King for a reduction
of the royal dues, which had been originally fixed on the basis of
the gross returns being equal to double the cost of the merchandise
laid down in Acapulco. To meet the case, another Royal Decree was
issued confirming the fixed rate of royal dues and disbursements, but
in compensation the cargo was thenceforth permitted to include 4,000
pieces of fine linen, without restriction as to measure or value; the
sworn value was abolished, and the maximum return value of the whole
shipment was raised to one-and-a-half millions of pesos. Hence the
total dues and disbursements became equal to 11 1/3 per cent. instead
of 17 per cent., as heretofore, on the anticipated return value.
In 1763 the Subsidy, together with the _Consulado_ shippers' returns,
amounted in one voyage to two-and-a-half millions of pesos (_vide_
p. 88). After the independence of Mexico (1819), tribute in kind
(tobacco) was, until recently, shipped direct to Spain, and Peninsula
coin began to circulate in these Islands (_vide_ Currency).
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account