Note 2 — XII

Their borrowed capital.The alcaldes were at the same time governors, magistrates, commanders of the troops, and, in reality, the only traders in their province.2 They purchased with the resources of the obras pias the articles required in the province; and they were entirely dependent for their capital upon these endowments, as they almost always arrived in the Philippines without any means of their own. The natives were forced to sell their produce to the alcaldes and, besides, to purchase their goods at the prices fixed by the latter.3 In this corrupt state of things the priests were the only protectors of the unfortunate Filipinos; though occasionally they also threw in their lot with the alcaldes, and shared in the spoil wrung from their unfortunate flocks.