Page:The Philippine Islands, 1493-1803 (Volume 01).djvu/68

 they were divided into sixths. Tickets were ordinarily worth in the later eighteenth century in times of peace eighty dollars to one hundred dollars, and in war time they rose to upwards of three hundred dollars. Le Gentil tells us that in 1766 they sold for two hundred dollars and more, and that the galleon that year went loaded beyond the limit. Each official as the perquisite of his office had tickets. The regidores and alcaldes had eight.

The small holders who did not care to take a venture in the voyage disposed of their tickets to merchants or speculators, who borrowed money, usually of the religious corporations, at twenty-five to thirty per cent per annum to buy them up and who sometimes bought as many as two or three hundred. The command of the Acapulco galleon was the fattest office within the gift of the Governor, who bestowed it upon "whomsoever he desired to make happy for the commission," and was equivalent to a gift of from $50,000 to $100,000. This was made up from commissions, part of the passage-money of passengers, from the sale of his freight tickets, and from the gifts of the merchants. Captain Arguelles told Careri in 1696 that his commissions would amount to $25,000 or $30,000, and that in all he would make $40,000; that the pilot would clear $20,000 and the mates $9,000 each. The pay of the sailors was three