RISE OF THE EXPORT CROP

ECONOMY AND MONOPOLIES

 Between 1855 and 1873 the Spanish opened
new ports to foreign trade, including Ilo-Ilo in
Panay, Zamboaga in western portion of the
Mindanao, Cebu on Cebu and Legaspi in Bicol.

It became their respective route to export

their crop to different places.

The opening of the Suez Canal in 1869

had contributed to a spectacular increase
in the volume of trade.
By the late 19th Century three crops which
is tobacco, abaca, and sugar became the
main export commodities in the Philippine.

Being open to world trade and having

these products abundant, the Philippine
became a major exporter for these product
and became well known in other parts of
the world.
There was a increasing commodity
concentration export in :

 United Kingdom
China
British East Indies
United State
And Spain
Because of these the economies of the
regions colonial powers tried to increased
agricultural output by pressuring the
peasants to produce more goods for export
and to develop plantation agriculture.

According to Benito Legarda in 1820 and

1870 peasants or poor farmers are the
primary responsible for transforming the
Philippine from a subsistence to an export
economy.
By the middle 1830’s Manila was open to
foreign merchants.

Because of the growth of the worldwide

shipping, Philippine abaca was consider
the best material for ropes and cordage
grew importance.
In 1850 alternated with sugar as the
islands most important export
MONOPOLY
 monopoly
The word mono is derived from the Greek
word ‘monos’ meaning one and ‘polein’
means to sell

It is a market structure characterized by a

single seller, selling unique product in the
market.

The seller faces no competition as he or she

the sole seller of goods with no close
substitute.
reasons why monopoly is created

1. Limited or prevent competition

2. It could fix prices for its product
3. Consumers would not have alternate
source
4. Skilled labor are force to work what
ever wages willing to pay
 In late nineteenth century there are
business who use monopolies one of the
powerful monopolies was:

Standard Oil Company of John D.

Rockefellers form the first trust in 1882 .

Families and business use this to heat their

homes and buildings
Steel Company of Andrew Carneige
founded in July 1 1892

American tobacco Company founded in

1890 by James Buchanan Duke

They abuse their power by forcing

consumer to pay high prices for the
things needed on a regular basis.
 Senator John Sherman Hammer made a law that
stop the abuses of the monopolies.
“Sherman Antitrust Act.” name after the U.S
senator John Sherman Hammer

 President Benjamin Harrison passed the

Sherman Antitrust Act,

 This act was passed and approved in 1890 but

monopolies ended in January 8,1982.

 Antitrust Act –this act banned trust and

monopolies and shatter big companies to smaller
pieces.