No stronger proof can be adduced of the unsettled state of the maritime insurance law in the Spanish colonies than the instance in the text. Can we entertain the favourable supposition that in the mother-country this subject is equally well understood as by every other European nation, and that a concurrence of circumstances have conspired to introduce and perpetuate a vicious practice in this colony? We fear in the sequel the reader will not be justified in this conclusion.
Note III.—Page 65.
This is another instance of the disposition of the Spaniards to extend what they ridiculously enough term their conquests, rather than to consolidate their power, and establish their influence in the Philippines. The attempt seems to have met with the fate it merited; but although it proved abortive, we cannot help holding up to due praise the perseverance with which, in perfect contempt of all personal danger, the Catholic missionaries pursue their object of proselytism.
Note IV.—Page 72.
The value of this trade is here pretty clearly detailed and comprehensively stated; we are left to conclude that the profits are from one hundred to two hundred per cent. The translator is informed by Mr. Guise that this trade was thus carried on:
The ship, having a Captain appointed by the Governor of Manila, was furnished by the King, by whom likewise all the expenses of the voyage were defrayed, and for whose reimbursement a duty of thirty-three per cent. was levied at Acapulco on the value of the cargo there. The persons who had the privilege of loading the ship were the Captain, to a certain extent; the pious establishments; the widows of officers, counsellors, &c. members of government, and merchants: the portions of each from a quarter of a ton upwards, the Captain having from forty to fifty tons. Exclusive of the right which the pious establishments thus enjoyed of occupying tonnage, they lent their money to the adventurers on a respondentia interest, as will be mentioned in a future note.
This trade may most probably, at this period, be conducted upon a different principle, and partake of that relaxation which it has been found necessary to countenance through the whole of the Spanish settlements, in consequence of recent political events.
Note V.—Page 78.
It is not possible to produce a stronger proof of the inefficiency of the Spanish colonial system, than the treatment of this disinterested and honest servant of the crown exhibits.
Note VI.—Page 83.