THE COLONIAL ECONOMIC POLICIES OF SPAIN

WHAT IS MERCANTILISM?

MERCANTILISM

exports shouldalways exceed

imports.

BANDALAGALLEON TRADE

TOBACCO MONOPOLYTRIBUTES

ENCOMIENDAROYAL COMPANY OF

THE PHILIPPINESSOCIEDAD ECONOMICA

DE LOS AMIGOS DEL PAISPOLO

BANDALA SYSTEMFilipinos were required/forced to sell their agricultural harvest to the government.

GALLEON TRADEalso known as

the Manila-Acapulco trade.Trading between Manila and Acapulco, Mexico. A government monopoly owned by the Spaniards lasted for 200 years.

• Boleta

How did the galleon trade promote the

exchange of cultural ideas between

Philippines and Mexico?

CLERGYGOVERNOR GENERAL

BUSINESSMENLOCAL OFFICIALS

TOBACCO MONOPOLY

TOBACCO MONOPOLY

exclusive control of tobacco plantation. owned by the

Spanish government.

JOSE BASCO Y VARGAS

WHO IS JOSE BASCO Y VARGAS?

TRIBUTESpayment in a

form of cash or products in recognition of Spanish authority and to shoulder the expenses of the colony.

ENCOMIENDAA portion

of land granted by the King of Spain to an encomendero

in a pacified area.

ROYAL COMPANY OF THE PHILIPPINES

an economic organization founded by King Charles III. Trading directly with other Asian countries without paying taxes.

KING CHARLES III

POLOForced labor,

all men aging from 16-60 years old were required to render forced labor to the government for a period of 40 days each year. This was lessen to 15 days in 1884.

ECONOMIC SOCIETY OF THE FRIENDS OF THE COUNTRY

An economic organization established for the advancement of agriculture in the country.

QUESTIONS:

Which among the economic policies were pro-filipinos?

What were the effects of various economic policies imposed by

the Spaniards to the farmers, youth and

women?

Do you believe that the economic prosperity enjoyed by a country

should benefit not just the upper class but also the lower

class? Why?

SYNTHESIS:

•Spanish colonialism brought a new system of land ownership, agriculture, taxation and labor.

•Spain introduced in the Philippines different economic policies. The most important of these policies was taxation to shoulder the financial needs of the colonial government.

•Through the Galleon Trade, Philippines became a carrier of Asian products to western countries.

•The Spaniards also introduced in the Philippines a type of economy ran on money made of silver.