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The Philippine Islands, 1493-1898; Volume 50

Note 9 — FINANCIAL AFFAIRS OF THE ISLANDS, 1766

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17. The contract for working the iron mine called Santa Ynes9 was knocked down to the highest bidder at the royal auctions, before the late war, and afterward its operation ceased entirely. Consequently, by working the said mine on the royal account, on the terms which I proposed in the cited paper of suggestions, and in a written statement which I presented to the government (from which no action has yet resulted), the royal exchequer will gain the increase and profit of more than fifty thousand pesos.

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