CHAPTER XXXIV.The money current in the Philippines consists of Spanish and South American dollar pieces principally, although no two of them have precisely the same weight in silver. Thus the Chilian dollar of 1833 had 456·24 grains of pure metal, while that of the Rio de la Plata has only 441·24 grains of silver.Nearly all the Mexican dollars differ in their quantity of pure silver; for example, that of the coinage of 1832 had only 442·80, while that of 1833 had 451·20 grains of pure metal. The old Spanish dollar has 445·08 grains of pure silver, and the half dollar 222·48 grains; while the Bolivian half dollar has only 168·60 grains of pure silver; and the Bolivian quarter-dollar piecehas only 84·84 grains of pure silver; while the standard Spanish quarter-piece contains 111·24 grains of unalloyed silver.The golden doubloon, weighing an ounce, is worth sixteen dollars in Manilla, although it usually sells for considerably less in China.Both of these coins are subdivided into halves and quarter-pieces, and the dollar is divided into eight reals, one of which is equal to two and a half reals of the vellon money current in the Peninsula; and the Manilla real is represented by a copper currency of seventeen cuartos. In calculations, however, the real is divided into twelve parts by an imaginary coin called grains; so that by $3. 2. 6. would be understood three dollars, two reals, and a half real, or three dollars and five-sixteenth parts of a dollar.The copper money in circulation is so scanty, as to be perfectly inadequate for the purpose; and at the time of my leaving Manilla, the usual charge for exchanging a dollar for copper money was a quartillo, or the quarter of a real, worth about a penny halfpenny of English money.In consequence of this scarcity, the natives are in the habit of employing cigars as money, to represent the smaller coins; and all over the Philippinesa cigar is actually the most important circulating medium, each representing a cuarto.At various times the scarcity of copper coins has given rise to extensive forgeries of them, and caused a considerable depreciation in their actual value, the false coinage being all of spurious metal.The gold which is found at Pictas, inMisamis, and at Mambalao, Paracala, and Surigao, is consumed in the country in ornaments, &c., and some of it is sent also to China. The amount annually produced at these places is very uncertain; and the quantity exported to China is probably a good deal more than the amount set down in the tabular statement, it being a thing of so very easy export, that I should suppose at least an equal number of taels are sent there privately, to what appears in the table to have passed the Custom-house.Its value in Manilla varies, according to quality, at from twenty dollars a tael down to fourteen for the inferior sorts.CHAPTER XXXV.After travelling so far together, the reader will permit me to direct his attention to the geographical position and natural advantages of the Philippines, which are unequalled by any other islands in the whole eastern Archipelago. Their vicinity to the immensely populous empire of China is in itself enough to render them a most flourishing colony.The Spanish and local governments are alive to the importance of this, and appear desirous to encourage trade to a limited extent, but are apparently anxious to hold the reins of it, and to regulate it as they deem best for themselves, or at any time to put a stop to it entirely.The evils arising from the changeable elementsgiven birth to by their interference it is difficult to over-estimate, as from the ignorance, which prevails through all classes, of the first elements of a commonwealth, and from their capricious notions of government, and want of knowledge of the advantages of liberality and of the facilities given to the prosecution of commerce, few persons of prudence care to expose their capital very extensively to the chances of trade.At present the Philippines want some infusion of foreign capital and energy into the veins and local arteries of the country, which, backed by the enlightened application of science, would cause these islands to emerge from the obscurity now surrounding them, and force them to assume the important position for which nature has apparently destined them.This will not come to pass until the present opinions of the Government and people are considerably changed with reference to their commercial legislation, or until all government interference in affairs of that nature is left off, so far as the interests of the revenue will permit, when the people will be insensibly but wisely taught by experience to rely upon themselves alone.The principles of commerce, and the wealth ofnations, as laid down by Adam Smith in his great work, which is almost deserving of immortality for the truths it tells mankind, are as true and as sure in practice as they are in theory; and should the wisdom and truth of his investigations ever be applied to the commercial regulations of these islands, it is difficult to foretell the destiny that may ultimately await them.It appears to me to be as unwise to attempt to restrain the course of nature and its fruits, aided by the energies of man todevelopor to use them, as it would be to bind down the mind of a man of genius, or of a poet, in order to prevent their operation, or to hinder the great conceptions of their muse, or the scientific research which a bright genius renders serviceable to his fellow mortals, from ever seeing the light. No one will defend the justice or wisdom of the time which forbade Galileo to publish, or even himself to believe in, his great discoveries; but is that more unjust than the policy of rulers, who shut up from the beings whom God has created to use them, the fruits of our common mother, the earth?It is equally absurd to prevent and to prohibitin either case; but notwithstanding this, the passions and prejudices of mankind are violent enough to permit of the one, although they would by no means suffer the other. Wisdom and passion can seldom or never accompany each other.Philanthropy will ultimately banish from our codes all such regulations as tend to check the fruitfulness of the soil and its use by man, who has been endowed with reason in order that he may assist the operations of nature. The constant and unrestricted use of the bounties of nature does not lead to their abuse; the contrary is the fact, for it is only when our appetites are excited by the obstacles to their attainment that they become excessively indulged and depraved.The illiberality of the Government places the existing position of foreigners in rather an equivocal position, for they are only there upon sufferance; and in the event of any disturbance, such as happened at Manilla in 1820, or of a war between the two nations, what would become of the foreigners or of their property?It has already been shown to the world that our fellow-subjects at Manilla in 1820, might bemurdered in the streets like dogs, and no retribution be demanded by their Government; and to this day their personal liberty and property can at any time be endangered by the caprice of the Governor or of his subordinates.In 1848, an alcalde laid hold of a number of British subjects, and threw them suddenly into prison, because he happened one day to discover that the time for their permission to remain in the country had years ago expired, which all of them had been led to expect it was quite unnecessary to have renewed so long as they remained quiet and well-conducted members of the community. As the alcalde did not know very well what to do with them when he had got them into the jail, he kept them there for a few days till he had smoked a good deal, and thought a little about them, and then he told the jailor to let them out again.Our trade with China would be materially improved by the attention of Her Majesty’s Foreign Secretary being directed to the position of the Philippines in connection with our own interests with them, and with the great empire adjoining them. Besides, it is a shame to ourselvesthat such things should exist in the colony, not only of a friendly European power, but of one so much indebted, as Spain is, to the valour of our arms for her independence, and to our liberality for possessing this colony at all.THE END.
CHAPTER XXXIV.The money current in the Philippines consists of Spanish and South American dollar pieces principally, although no two of them have precisely the same weight in silver. Thus the Chilian dollar of 1833 had 456·24 grains of pure metal, while that of the Rio de la Plata has only 441·24 grains of silver.Nearly all the Mexican dollars differ in their quantity of pure silver; for example, that of the coinage of 1832 had only 442·80, while that of 1833 had 451·20 grains of pure metal. The old Spanish dollar has 445·08 grains of pure silver, and the half dollar 222·48 grains; while the Bolivian half dollar has only 168·60 grains of pure silver; and the Bolivian quarter-dollar piecehas only 84·84 grains of pure silver; while the standard Spanish quarter-piece contains 111·24 grains of unalloyed silver.The golden doubloon, weighing an ounce, is worth sixteen dollars in Manilla, although it usually sells for considerably less in China.Both of these coins are subdivided into halves and quarter-pieces, and the dollar is divided into eight reals, one of which is equal to two and a half reals of the vellon money current in the Peninsula; and the Manilla real is represented by a copper currency of seventeen cuartos. In calculations, however, the real is divided into twelve parts by an imaginary coin called grains; so that by $3. 2. 6. would be understood three dollars, two reals, and a half real, or three dollars and five-sixteenth parts of a dollar.The copper money in circulation is so scanty, as to be perfectly inadequate for the purpose; and at the time of my leaving Manilla, the usual charge for exchanging a dollar for copper money was a quartillo, or the quarter of a real, worth about a penny halfpenny of English money.In consequence of this scarcity, the natives are in the habit of employing cigars as money, to represent the smaller coins; and all over the Philippinesa cigar is actually the most important circulating medium, each representing a cuarto.At various times the scarcity of copper coins has given rise to extensive forgeries of them, and caused a considerable depreciation in their actual value, the false coinage being all of spurious metal.The gold which is found at Pictas, inMisamis, and at Mambalao, Paracala, and Surigao, is consumed in the country in ornaments, &c., and some of it is sent also to China. The amount annually produced at these places is very uncertain; and the quantity exported to China is probably a good deal more than the amount set down in the tabular statement, it being a thing of so very easy export, that I should suppose at least an equal number of taels are sent there privately, to what appears in the table to have passed the Custom-house.Its value in Manilla varies, according to quality, at from twenty dollars a tael down to fourteen for the inferior sorts.
The money current in the Philippines consists of Spanish and South American dollar pieces principally, although no two of them have precisely the same weight in silver. Thus the Chilian dollar of 1833 had 456·24 grains of pure metal, while that of the Rio de la Plata has only 441·24 grains of silver.
Nearly all the Mexican dollars differ in their quantity of pure silver; for example, that of the coinage of 1832 had only 442·80, while that of 1833 had 451·20 grains of pure metal. The old Spanish dollar has 445·08 grains of pure silver, and the half dollar 222·48 grains; while the Bolivian half dollar has only 168·60 grains of pure silver; and the Bolivian quarter-dollar piecehas only 84·84 grains of pure silver; while the standard Spanish quarter-piece contains 111·24 grains of unalloyed silver.
The golden doubloon, weighing an ounce, is worth sixteen dollars in Manilla, although it usually sells for considerably less in China.
Both of these coins are subdivided into halves and quarter-pieces, and the dollar is divided into eight reals, one of which is equal to two and a half reals of the vellon money current in the Peninsula; and the Manilla real is represented by a copper currency of seventeen cuartos. In calculations, however, the real is divided into twelve parts by an imaginary coin called grains; so that by $3. 2. 6. would be understood three dollars, two reals, and a half real, or three dollars and five-sixteenth parts of a dollar.
The copper money in circulation is so scanty, as to be perfectly inadequate for the purpose; and at the time of my leaving Manilla, the usual charge for exchanging a dollar for copper money was a quartillo, or the quarter of a real, worth about a penny halfpenny of English money.
In consequence of this scarcity, the natives are in the habit of employing cigars as money, to represent the smaller coins; and all over the Philippinesa cigar is actually the most important circulating medium, each representing a cuarto.
At various times the scarcity of copper coins has given rise to extensive forgeries of them, and caused a considerable depreciation in their actual value, the false coinage being all of spurious metal.
The gold which is found at Pictas, inMisamis, and at Mambalao, Paracala, and Surigao, is consumed in the country in ornaments, &c., and some of it is sent also to China. The amount annually produced at these places is very uncertain; and the quantity exported to China is probably a good deal more than the amount set down in the tabular statement, it being a thing of so very easy export, that I should suppose at least an equal number of taels are sent there privately, to what appears in the table to have passed the Custom-house.
Its value in Manilla varies, according to quality, at from twenty dollars a tael down to fourteen for the inferior sorts.
CHAPTER XXXV.After travelling so far together, the reader will permit me to direct his attention to the geographical position and natural advantages of the Philippines, which are unequalled by any other islands in the whole eastern Archipelago. Their vicinity to the immensely populous empire of China is in itself enough to render them a most flourishing colony.The Spanish and local governments are alive to the importance of this, and appear desirous to encourage trade to a limited extent, but are apparently anxious to hold the reins of it, and to regulate it as they deem best for themselves, or at any time to put a stop to it entirely.The evils arising from the changeable elementsgiven birth to by their interference it is difficult to over-estimate, as from the ignorance, which prevails through all classes, of the first elements of a commonwealth, and from their capricious notions of government, and want of knowledge of the advantages of liberality and of the facilities given to the prosecution of commerce, few persons of prudence care to expose their capital very extensively to the chances of trade.At present the Philippines want some infusion of foreign capital and energy into the veins and local arteries of the country, which, backed by the enlightened application of science, would cause these islands to emerge from the obscurity now surrounding them, and force them to assume the important position for which nature has apparently destined them.This will not come to pass until the present opinions of the Government and people are considerably changed with reference to their commercial legislation, or until all government interference in affairs of that nature is left off, so far as the interests of the revenue will permit, when the people will be insensibly but wisely taught by experience to rely upon themselves alone.The principles of commerce, and the wealth ofnations, as laid down by Adam Smith in his great work, which is almost deserving of immortality for the truths it tells mankind, are as true and as sure in practice as they are in theory; and should the wisdom and truth of his investigations ever be applied to the commercial regulations of these islands, it is difficult to foretell the destiny that may ultimately await them.It appears to me to be as unwise to attempt to restrain the course of nature and its fruits, aided by the energies of man todevelopor to use them, as it would be to bind down the mind of a man of genius, or of a poet, in order to prevent their operation, or to hinder the great conceptions of their muse, or the scientific research which a bright genius renders serviceable to his fellow mortals, from ever seeing the light. No one will defend the justice or wisdom of the time which forbade Galileo to publish, or even himself to believe in, his great discoveries; but is that more unjust than the policy of rulers, who shut up from the beings whom God has created to use them, the fruits of our common mother, the earth?It is equally absurd to prevent and to prohibitin either case; but notwithstanding this, the passions and prejudices of mankind are violent enough to permit of the one, although they would by no means suffer the other. Wisdom and passion can seldom or never accompany each other.Philanthropy will ultimately banish from our codes all such regulations as tend to check the fruitfulness of the soil and its use by man, who has been endowed with reason in order that he may assist the operations of nature. The constant and unrestricted use of the bounties of nature does not lead to their abuse; the contrary is the fact, for it is only when our appetites are excited by the obstacles to their attainment that they become excessively indulged and depraved.The illiberality of the Government places the existing position of foreigners in rather an equivocal position, for they are only there upon sufferance; and in the event of any disturbance, such as happened at Manilla in 1820, or of a war between the two nations, what would become of the foreigners or of their property?It has already been shown to the world that our fellow-subjects at Manilla in 1820, might bemurdered in the streets like dogs, and no retribution be demanded by their Government; and to this day their personal liberty and property can at any time be endangered by the caprice of the Governor or of his subordinates.In 1848, an alcalde laid hold of a number of British subjects, and threw them suddenly into prison, because he happened one day to discover that the time for their permission to remain in the country had years ago expired, which all of them had been led to expect it was quite unnecessary to have renewed so long as they remained quiet and well-conducted members of the community. As the alcalde did not know very well what to do with them when he had got them into the jail, he kept them there for a few days till he had smoked a good deal, and thought a little about them, and then he told the jailor to let them out again.Our trade with China would be materially improved by the attention of Her Majesty’s Foreign Secretary being directed to the position of the Philippines in connection with our own interests with them, and with the great empire adjoining them. Besides, it is a shame to ourselvesthat such things should exist in the colony, not only of a friendly European power, but of one so much indebted, as Spain is, to the valour of our arms for her independence, and to our liberality for possessing this colony at all.THE END.
After travelling so far together, the reader will permit me to direct his attention to the geographical position and natural advantages of the Philippines, which are unequalled by any other islands in the whole eastern Archipelago. Their vicinity to the immensely populous empire of China is in itself enough to render them a most flourishing colony.
The Spanish and local governments are alive to the importance of this, and appear desirous to encourage trade to a limited extent, but are apparently anxious to hold the reins of it, and to regulate it as they deem best for themselves, or at any time to put a stop to it entirely.
The evils arising from the changeable elementsgiven birth to by their interference it is difficult to over-estimate, as from the ignorance, which prevails through all classes, of the first elements of a commonwealth, and from their capricious notions of government, and want of knowledge of the advantages of liberality and of the facilities given to the prosecution of commerce, few persons of prudence care to expose their capital very extensively to the chances of trade.
At present the Philippines want some infusion of foreign capital and energy into the veins and local arteries of the country, which, backed by the enlightened application of science, would cause these islands to emerge from the obscurity now surrounding them, and force them to assume the important position for which nature has apparently destined them.
This will not come to pass until the present opinions of the Government and people are considerably changed with reference to their commercial legislation, or until all government interference in affairs of that nature is left off, so far as the interests of the revenue will permit, when the people will be insensibly but wisely taught by experience to rely upon themselves alone.
The principles of commerce, and the wealth ofnations, as laid down by Adam Smith in his great work, which is almost deserving of immortality for the truths it tells mankind, are as true and as sure in practice as they are in theory; and should the wisdom and truth of his investigations ever be applied to the commercial regulations of these islands, it is difficult to foretell the destiny that may ultimately await them.
It appears to me to be as unwise to attempt to restrain the course of nature and its fruits, aided by the energies of man todevelopor to use them, as it would be to bind down the mind of a man of genius, or of a poet, in order to prevent their operation, or to hinder the great conceptions of their muse, or the scientific research which a bright genius renders serviceable to his fellow mortals, from ever seeing the light. No one will defend the justice or wisdom of the time which forbade Galileo to publish, or even himself to believe in, his great discoveries; but is that more unjust than the policy of rulers, who shut up from the beings whom God has created to use them, the fruits of our common mother, the earth?
It is equally absurd to prevent and to prohibitin either case; but notwithstanding this, the passions and prejudices of mankind are violent enough to permit of the one, although they would by no means suffer the other. Wisdom and passion can seldom or never accompany each other.
Philanthropy will ultimately banish from our codes all such regulations as tend to check the fruitfulness of the soil and its use by man, who has been endowed with reason in order that he may assist the operations of nature. The constant and unrestricted use of the bounties of nature does not lead to their abuse; the contrary is the fact, for it is only when our appetites are excited by the obstacles to their attainment that they become excessively indulged and depraved.
The illiberality of the Government places the existing position of foreigners in rather an equivocal position, for they are only there upon sufferance; and in the event of any disturbance, such as happened at Manilla in 1820, or of a war between the two nations, what would become of the foreigners or of their property?
It has already been shown to the world that our fellow-subjects at Manilla in 1820, might bemurdered in the streets like dogs, and no retribution be demanded by their Government; and to this day their personal liberty and property can at any time be endangered by the caprice of the Governor or of his subordinates.
In 1848, an alcalde laid hold of a number of British subjects, and threw them suddenly into prison, because he happened one day to discover that the time for their permission to remain in the country had years ago expired, which all of them had been led to expect it was quite unnecessary to have renewed so long as they remained quiet and well-conducted members of the community. As the alcalde did not know very well what to do with them when he had got them into the jail, he kept them there for a few days till he had smoked a good deal, and thought a little about them, and then he told the jailor to let them out again.
Our trade with China would be materially improved by the attention of Her Majesty’s Foreign Secretary being directed to the position of the Philippines in connection with our own interests with them, and with the great empire adjoining them. Besides, it is a shame to ourselvesthat such things should exist in the colony, not only of a friendly European power, but of one so much indebted, as Spain is, to the valour of our arms for her independence, and to our liberality for possessing this colony at all.