By the late 18th century, political and economic changes in Europe were finally beginning to affect Spain and, thus, the Philippines. Important as a stimulus to trade was the gradual elimination of the monopoly enjoyed by the galleon to Acapulco. The last galleon arrived in Manila in 1815, and by the mid-1830s Manila was open to foreign merchants almost without restriction. The demand for Philippine sugar and abaca (hemp) grew apace, and the volume of exports to Europe expanded even further after the completion of the Suez Canal in 1869.
The growth of commercial agriculture resulted in the appearance of a new class. Alongside the landholdings of the church and the rice estates of the pre-Spanish nobility there arose haciendas of coffee, hemp, and sugar, often the property of enterprising Chinese-Filipino mestizos. Some of the families that gained prominence in the 19th century have continued to play an important role in Philippine economics and politics.
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The 19th century
By the late 18th century, political and economic changes in Europe were finally beginning to affect Spain and, thus, the Philippines. Important as a stimulus to trade was the gradual elimination of the monopoly enjoyed by the galleon to Acapulco. The last galleon arrived in Manila in 1815, and by the mid-1830s Manila was open to foreign merchants almost without restriction. The demand for Philippine sugar and abaca (hemp) grew apace, and the volume of exports to Europe expanded even further after the completion of the Suez Canal in 1869.
The growth of commercial agriculture resulted in the appearance of a new class. Alongside the landholdings of the church and the rice estates of the pre-Spanish nobility there arose haciendas of coffee, hemp, and sugar, often the property of enterprising Chinese-Filipino mestizos. Some of the families that gained prominence in the 19th century have continued to play an important role in Philippine economics and politics.
Explanation: