Note 96 — PART I

As has been remarked, their intercourse with the other countries is very limited. The Phillippine Company, who were in possession of the exclusive trade of Europe, have for many years taken no advantage of their privilege (the last ship which arrived from Spain was in 1817);96 but private merchants were still debarred from doing so, till the promulgation of the constitution.97 Foreigners have been, however, gradually admitted since 1800; and they have supplied the wants of the country by introducing European articles, and carrying off the surplus produce, when a sufficient quantity could be procured to employ their capital, which rarely happens without much delay. So rapid has been the augmentation of this trade, that though in 1813 only 15,000 pekuls of sugar were exported, it had increased in 1818 to 200,000, at from 6½ to 9 dollars per pekul. The other exports of the same year were as follows:—