The Philippine Economy in Pre-Colonial Times
“moneyless society”
Earth was their purse
o Rich soil and seas, obtain food from environment
o Domestic trade was prevalent in this period among various with various specialties
o Communal ownership of land
o Everyone was obliged to give service to datu, including maharlikas
Sin Finge or Manojo
basic unit of measure
Bunch of rice stalks tied up in bundles of uniform size
Why rice?
Not barren; Grew and reproduced itself a thousand fold
Colonization of Spanish
Shift from Rice Exchange to Gold-and-silver based currency.
Gold and Silver Exchange
“ he moneyless society was turned into a money-oriented world where everything was measured in terms of metal weights and everything was held to have a price even a woman ’s body or a man’s soul.”
The Land Economy Under Spain
Land Ownership
Normative Principle brought by the Spaniards:
Cinnamon - the profit the Spaniards got from the Philippines
Trade possibilities with the Philippines was not yet discovered until 1580 where Chinese trade was firmly established. This caught the attention of Mexico.
Involved a variety of products: rugs, cotton, ivory, jasper, jade, copper, brass, spices, musk, porcelain, pearls, silk goods from China.
They came not only as traders but efficient artisans and workmen as well.
Gov. Ronquillo built the Parian across the river from old Manila
1580 -- To control them, they were placed in Plaza Lawton known in the present as Chinatown.
Geographical Location
Channelling seemingly limitless markets from North, East, West and South
1815 - Galleon Trade Ended
Philippines became an agricultural export economy
The Role of The Chinese
The Beginnings of Secondary Growth
Banking
Transportation
Communication Systems
Domestic Production of Value-added Consumer Goods
The Philippine Economy Under America
Philippine Economy Under America
Before Americans occupied the Philippines – Economy...