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The Philippine Islands, 1493-1898: Volume 48, 1751-1765

Note 47 — Part II

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43. I will conclude this chapter with the authority of the celebrated Don Geronimo Ustariz,47 who, although he disapproves the commerce [managed] by companies in España and the Americas, considers it expedient in these islands; and indeed, when his arguments against the establishment of the said companies are examined, it will be seen that they do not apply to this commerce—where, on the contrary, it will be seen that not even the least progress can be secured, unless the company of which I am speaking be formed.

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