Chapter 10
On page 747 of  the  Gaceta de Manila  for May 5, 1889, was published Royal  Order No. 310, dated  April   27,   1888,  as  follows:
"Article 1.  There   is extended to the islands of Cuba,  Porto Rico and Philippines,  the Royal  Order of  November  1, 1887,  referring  to the creation of a special   paper  for Payments  for Subscriptions to Periodicals and the  Instruction of  this  13th of December of  the sane year,  dictated for compliance with said decree."

“Article 2. This disposition will become effective dating from the 1st of September, next, in the islands of Cuba and Porto Rico and from the 1st of November of the same year in the Philippines. – Given in the Palace on April 27, 1888.” [51]

Attached to, and published immediately following, the Royal Order above quoted, was the Royal Decree of 
November 1, 1887, to which reference is made. Article 1 of the Royal Decree of November 1, 1887,
reads as follows:

“Article 1. There are created special warrants of the Mutual Drafts of the Treasury (Giro Mutuo de Hacienda) for the exclusive purpose of the payment for subscriptions to periodicals, of the following series and prices:"
Series A, of 50 centimos de peseta
Series B, of one peseta.
Series C, of three pesetas
Series D, of 5 pesetas [51]
Subsequent  articles of   the  above decree  indicate  that those who desired  to  subscribe  for  periodicals  were  required  to  purchase from the Government  those special warrants  for  the amount of   the subscription. The  publisher  was  required to  submit   the warrants  to  an office of   the Treasury  for  redemption.     The Government   deducted  25-3/4 percent of the  face value of   the warrant  as  a charge  for  this   "service",   paying  the balance  to  the  publisher who  presented  the warrant  for  redemption.    The estancas were  granted a commission of  3/4 percent  on  their sales of these special  warrants.

From other  sources,   it  is   learned  that Royal  Order  No.  310,  above quoted, was first published in Manila on June 6, 1888.    This  Royal  Order provided  that  it was  to  become effective in the  Philippines on November   1,   1888.     Apparently,   it  was not actually enforced  in the  Philippines , however,  until after  May  5,   1889,  on which  date Royal  Order   No.  310 was published in  the Gaceta de Manila. The delay  in enforcing   this  decree was  probably  due to the delay  in receiving  from Spain  a supply of the "special warrants" mentioned in the decree.    The  denominations of  these special warrants  for  use  in  the  Philippines  should  have been  and probably were,   expressed  in pesos,   instead of pesetas since   the peso was  the monetary unit of  the  Philippines  at   that   time.

The writer has not seen a specimen of these special warrants and  it is  possible  that none has been preserved. All  of   those which were  sold would normally be returned  to  the Treasury for redemption and after redemption would  probably be destroyed.


[51] Translated  by A.H.W.   from the   Spanish   text.