The Philippine Islands, 1493-1803; explorations by early navigators, descriptions of the islands and their peoples, their history and records of the Catholic missions, as related in contemporaneous books and manuscripts, showing the political, economic, commericial and religious conditions of those islands from their earliest relations with European nations to the beginning of the nineteenth century; [Vol. 1, no. 51]

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THE PHILIPPINE ISLANDS

[Vol. 51

excessively enterprising, are better acquainted with
the true principles of commerce. Such were the merchants: let us examine a little the trade.
The basis of it was, and is, the funds called " Obras
Pias" 104 (Pious Works). These are funds under
various denominations, whose origin was the piety of
well-meaning Spaniards, who dying rich have bequeathed large sums for the purpose of lending to deserving traders to commence or continue their career
with. The administration of these is confided to
various religious and charitable institutions, or to
civil associations-the trustees forming a board, at
which the sums to be lent, &c. are determined. Their
statutes differ in many unessential points;105 but their
104 " Ecclesiastical foundations and obras pias were, it may be
said, innumerable. From the richest city to the smallest village,
from one extreme of the Peninsula to the other, and even to the
farthest boundaries which the monarchy reached in the period of
its greatest grandeur, the acts of Christian piety are seen in various foundations. These include not only hermitages, confraternities, memorials, charitable foundations, and chaplaincies,-which
by themselves alone made a total of enormous wealth- but more
pretentious establishments, as convents, cathedrals, parish churches,
and colleges; and any person will be surprised at those which
were supported by some towns which in their present condition are
reduced in population and poor. Larruga in his memoirs states
that Toledo had 25 parish churches and its cathedral, 39 convents, 14 hospitals, and four colleges, in all, 83 foundations.
Salamanca had more; Cuenca had 31, Avila 31, Almagro I7, and
so with the other cities of Castilla." Among these pious gifts
were " the exchanges of Barcelona, Sevilla, and Valencia, the colleges of Salamanca, that of Santa Cruz of Valladolid," and many
cathedrals and convents. (Arias y Miranda, Examen critico-historico, p. 139.)- EDS.
105 At one of them (I believe that of Santa Clara), the sculls
of the seven founders are placed on the table at which the trus