Philippines Bank J.M Tuason & Co Manila Bill of Exchange for £30-10-2 1878

S/N 11691; Scarce Second of Exchange drawn in Manila on Union Bank of London by Jose Maria Tuason & Compania. Don Jose Maria Tuason, one of the most prominent merchants, bankers, and real estate magnates of mid-19th century, established J.M. Tuason & Co., one of the earliest Filipino-owned merchant firms of the time. In addition to trading, the firm also opened a banking house in the 1860s, receiving deposits, as well as issuing bills on London and Madrid, as well as discounting commercial paper. In addition, Don Jose Maria Tuason was nominated as the first manager (gerente) of the Banco Español-Filipino de Isabel II (1853-1856), precursor of the Bank of the Philippine Islands. The Tuasons are descended from an intermix of Chinese, Spanish and Filipino families. The great patriarch of the Tuasons was a Chinese immigrant from Fukien, Son Tua who settled in Binondo, Manila in the early 18th century. He came to Manila to engage in the galleon trade. Quickly amassing wealth because of his business acumen, he became possibly the richest man in the Philippines by the second half of the 18th century.; UNC