* GALLEON TRADE - started when the Spaniards came to the Philippines, there was already a trading between our ancestors with China, Japan, Siam, India, Cambodia, Borneo and the Moluccas . the Spanish government continued trade relations with these countries, and Manila became the centers of commerce in the East. The galleon trade was a government monopoly. Only two galleon trade were used : one sailed from Acapulco to Manila with some 500,000 pesos worth of goods, spending 120 days at sea : the other sailed from Manila to Acapulco with some 250,000 pesos worth of goods spending in 90 days at sea and the another called is GALLEON TRADE is MANILA ACAPULCO .
* THE ROYAL SUBSIDY - Spanish colonial government found itself short of funds to support the expenses of the government. From then on, every year through the Mexican Viceroy, because Spain colonized us from Mexico until the early 19th century, the King sent financial aid to Manila. Real situado, the average amount of royal subsidy was sent by the Mexican Viceroy to the Philippines amounted 250,000 pesos. After the Mexican revolution, when Mexico won its freedom from Spain it ended.
* FORCED LABOR- forced labor came from the term polo and the person who performed forced labor was called a polista. Males from Filipinos and Chinese age 16 to 60 years old were required to render forced labor from the government for a period of 40 days each year. The polistas served as soldiers or sailors in Spanish military expeditions. They build roads, bridges, churches and cutting timber in forests, which they later used in building galleon ships. The members from the principilia, these are certain Filipinos who were excempted from forced labor. in exchange for their excemption, they have to pay a sum of money amounting to one and a half reales called falla. Forced labor has a negative impact on the Filipinos. through agricultural production.
* obras pias - this is the first financial groups in Manila were the obras pias . And the funds donated by rich individual society and they loaned money to businessmen who wanted to engage in the galleon trafe and charged interest ranging from 20% to 50%. and we have the oldest bank in the Philippines is the BPI or BANK OF THE PHILIPPINES ISLANDS , it started on August 1, 1851. Francisco Rodriguez is the first filipino was founded in Manila .
* TRIBUTES- a tribute is wealth one party gives to another as as sign of respects or, as was often the case in historical contexts ,of submission or allegiance .In 1570 ,each family paid (8) reales which was equivalent to one peso , in a single person pade only one-half or (1/2) peso.and the tribute was replaces the poll tax or cedula .all filipinos aged 18 tears old and above were required to pay this tax.
* TOBACCO MONOPOLY - the tobacco monopoly was established by GOVERNOR GENERAL JOSE BASCO on march1 ,1782 to increased government revenue the system was finally obtaines by the GOVERNOR GENERAL PRIMO DE REVERA in 1882 . and the manual subsidy recieved from mexico .
* THE ENCOMIENDA -the encomienda they were called in spanish word is encomendar which means "to entrust " and the encomiendas we have two kinds of encomienda : private and the royal . the private encomienda is belonged to : THE KING OFFICIAL AND THE SPANIARDS . this a privilage to given to the people and to control a certain territory . the encomienda system was eventually abolished at the turn of the 19th century due to compaints of abuses from the people .
- by janine !! :)
