. The Philippine Islands . - Commerce During the Present Century. THE ROYAL COMPANY. THE closing of the Chinese shops in Manila and the expulsionof the Chinese merchants was the beginning of a new stateof things in the islands. A joint-stock company was formedio buy clothing and staple goods for the Philippines, and sell at 30per cent, advance. But the Spaniards lacked the keenness at bar-gaining that their predecessors possessed, and the company soonfailed. Another company followed, under the favor of the Kingof Spain, who took a large block of its shares and gave it abun-dant priv
. The Philippine Islands . - Commerce During the Present Century. THE ROYAL COMPANY. THE closing of the Chinese shops in Manila and the expulsionof the Chinese merchants was the beginning of a new stateof things in the islands. A joint-stock company was formedio buy clothing and staple goods for the Philippines, and sell at 30per cent, advance. But the Spaniards lacked the keenness at bar-gaining that their predecessors possessed, and the company soonfailed. Another company followed, under the favor of the Kingof Spain, who took a large block of its shares and gave it abun-dant privileges and monopolies. It—the Royal Company ofthe Philippines, fully organized in 1785—was given exclusiverights of trade, aside from the galleon trade with ships were not allowed to bring goods from Europe tothe Philippines, though they could land Chinese and Indian were old treaties that prohibited Spain from seeking thePacific by the eastern route, her trade being via Cape Horn andMexico. Charles III
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Keywords: ., bookcentury1800, bookdecade1890, booksubjectphilippinesdescripti
