Answer:
On March 10, 1785, Real Compañía de Filipinas (The Royal Company) was established through a royal decree. The company together with Sociedad Económica de Amigos del Pais (Economic Societies of Friends of the Country) established in 1781, were two of the most important events during the coming of Governor General José de Basco y Vargas which marked a new era in the economic history of the country.
Real Compañía de Filipinas
(The deed of the Royal Company) Acción de la Real Compañía de Filipinas (Photo credit: Patrimonio Cultural de Vargas)
The capital of the Real Compañía de Filipinas was fixed at 8 million pesos divided into 32,000 shares of 250 pesos each; the King bought 4000 shares, and the citizens of Manila were allowed 3000.
Explanation:
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