Note 19 — COMMERCE OF THE PHILIPPINES WITH NUEVA ESPAÑA

“The censos yield only five per cent.” Censo refers to annuities in some form or other, and especially to “quit-rent;” it also sometimes means “interest,” which is a derivative and special meaning; in a general sense, it may be rendered “income.”—James A. LeRoy.

Dominguez (Diccionario nacional) enumerates several different kinds of censo (which he defines as “a contract by which one person sells and another buys the right to receive a certain annual pension”); the statements in our text relative to the status of houses and lands in and near Manila would indicate the probability that the censos there mentioned were what Dominguez calls consignativos, “in which a certain amount is received for which must be given in return an annual pension, giving security for the said sum or capital with rent-producing property or real estate.” He instances as a censo reservativo the arrangement made by Joseph with the Egyptians (Genesis, ch. xlvii), by which, after all the land in that country had become the property of the crown, the people received back their fields on condition of their paying to the king the fifth part of their produce, which constituted an annual pension or quit-rent (censo). The same word may also mean “census” and “tax-register;” Dominguez states that when the Spaniards conquered America they found the tax-register established in Mexico and Peru.—Eds. ↑