About a century ago England took over from Spain Nootka Sound, a station on the Pacific coast, where a nourishing fur trade was carried on by British settlers. The cession was accorded under a solemn promise not to trade thence with the Spanish colonies of South America.
[9] For example: vide “Memoria leida por el Secretario de la Cámara de Comercio de Manila, Don F. de P. Rodoreda, en 28 de Marzo de 1890,” p. 6 (published in Manila by Diaz Puertas y Compañia).
It remarks: “Jurado Mercantil—El expediente siguió la penosa perigrinacion de nuestro pesado y complicado engranaje administrativo y llevaba ya muy cerca de dos años empleados en solo recorrer dos de los muchos Centros consultivos á que debía ser sometido, etc.”
[10] The following is an extract from the text of the preamble to a Decree, dated March 19, 1886, relative to the organization of the Philippine Exhibition held in Madrid, signed by the Colonial Minister, Don German Gamazo:
“Con él se logrará que la gran masa de numerario que sale de la Metrópoli para adquirir en paises extranjeros algodon, azúcar, cacao, tabaco y otros productos vaya á nuestras posesiones de Oceania donde comerciantes extranjeros los acaparan con daño evidente de los intereses materiales del pais.”
[11] (1) The “Hong-Kong and Shanghai Banking Corporation,” incorporated in 1867. Position on June 30, 1905: Capital all paid up, $10,000,000 (Mex.): sterling reserve, £1,000,000; silver reserve, $8,500,000 (Mex.); reserve liability of proprietors, $10,000,000 (Mex.). (2) The “Chartered Bank of India, Australia, and China,” incorporated in 1853. Position on December 31, 1904: Capital all paid up, £800,000; reserve fund, £875,000; reserve liability of proprietors, £800,000.
[12] “Banco Español-Filipino.” Position on June 30, 1905: Capital, ₱1,500,000; reserve fund, ₱900,000. It has a branch in Yloilo.
[13] Chop dollars are those defaced by private Chinese marks.
[14] Yloilo had its “Gremio de Comerciantes” (Board of Trade), constituted by Philippine General-Government Decree of September 5, 1884, and Manila had Chamber of Commerce. Since the Revolution Yloilo has also a Chamber of Commerce, and Manila several of different nationalities.
[15] Vide Board of Trade Journal (British) for February and April, 1891.