Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
Of the charitable funds established in Filipinas
[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.
[The obras pías merit full attention from the government,] on account of the advantages which the agriculture and industry of the islands may gain from them. If the limited and privileged dealings of Manila with Nueva España had not been reduced to a merely passive commerce of transfer or transportation, those foundations would, at the same time while they have become wealthy, have given real opulence to that commerce. Of the enormous profit of two hundred and three hundred per cent which the transactions of the galleon yielded at Acapulco, the greater part was for the foreign dealers of India and China, whose wares supplied almost all the lading of the galleons, and for the obras pías; a greatly reduced profit remained for the Manila merchants, which could be shown by a calculation which might be made of the many millions imported from Nueva España by the galleons, and of the comparatively small value, in money or assistance, which has remained [therefrom] in the islands. [The returns from these funds are now greatly diminished, since the cessation of the Acapulco trade, for on that depended the commerce with India and China, which also has practically ended, save for the commodities from those countries which are consumed in Filipinas. This could not have been foreseen by thefounders of those funds, many of which, moreover, are impeded by various restrictions and conditions; and the government should interpose its authority not only to secure the fulfilment of the founders’ wishes, but to commute the investment of the funds in such a way that they may be used to promote the agriculture and industry of the country. These funds ought also to be preserved as a most useful resource in case of war or revolution, when the usual revenues of the government would cease. Bernaldez therefore recommends:] That the government of Manila furnish special protection to the charitable foundations of the islands, and keep close watch over their honest administration. That it stimulate the managers to obtain immediately from the competent authority the commutation of the allotments of these funds so as to benefit the agriculture and manufactures of the country, giving reports of what shall be effected in a matter so important for the welfare of the islands. That the funds in the communal treasuries of the Indians and the Chinese, those of the secular revenues,11and any others which are not subject to private foundations and regulations, and which hitherto have followed in their investments the rules of the obras pías, shall be by preference set aside for rewards bestowed for enterprises in agriculture, industry, and inter-island trade. Thus will be remedied the injury arising from the failure of those great funds to be in circulation; and the abuse of employing them in favor of foreigners and their commerce, under assumed names, will be corrected.