Now, it’s time
to interview our
guests from
back in time
about.......
Economic
Institution
during the
Spanish Rule
First up, it’s our
guest Lance
Jao from:
The ManilaAcapulco
Galleon Trade
Basic Facts
Ships
Sailing 1 or 2 times a year
It came from Acapulco in
New Spain coming to the
Philippines
A trade
Known as an agreement
between Manila and
Acapulco
Effects of
the Galleon
trade
Many people profited from
this trade.
Especially those who
participated in this trade
profited.
However, many people
died as since the boat sank
a couple of times because
of an overload in goods
like gold and silver.
Agriculture and the care
for resources were
neglected because the
officials, instead of
paying attention to
them, went to Manila to
engage in the trade.
How the galleon trade got
to the Philippines (Manila):
The Manila-Acapulco
galleon trade began when
Andrés de Urdaneta,
following Miguel Lopez de
Legazpi’s ship, discovered
a return route
from Cebu City to
Mexico in 1565.
What
happened to
the Galleon
Trade
The Galleon trade had
funds called Obras Pias
which were donated by rich
people for charity. Some
officials borrowed money
from the funds and most
often, the money was
Never returned. In other
words, the Obras Pias
funds were abused by the
officials.
The ships were often
raided by English and
Dutch pirates.
Because it was always
raided and sinking, the
King of Spain had to
abolish the Galleon trade.
Next, it’s
our guest
Raphael
Laurena
from:
The Royal
Economic
Society of
Friends of the
Country
Basic Facts
Like
the Galleon trade it
was also like a trade, a
business
Governor-General José
Basco y Vargas founded
the Economic Society of
Friends of the Country.
This
business was
for using the
unused resources
of the country
This
business
was a company
of rich and
prominent
people.
Now , it’s our
guest Carlos
Lao from:
The Royal
Company of the
Philippines
Basic Facts
This
company
was to enhance
trade,
agriculture, and
other
industries in
the Philippines. To
help the company,
the king granted
rights to
The
country. It
was to develop
the natural
resources.
The
company
got capital
from foreign
countries.
It
was known
as a business.
In the end, it
was abolished
because of
poor
management
and the stiff

competition. It
was abolished
in the year
1834.

Now , we will
ask Lorenzo
Flores some
questions........
들어 주셔서 감사합니다
感谢你们的倾听!!!!!!
ご清聴ありがとうございました !!!!
Thank you for
listening!!!!!!!!!!!!!!!!!!!!!!!!
Salamat sa inyong
pakikinig!!!!!!
Благодарю за внимание!!!!