[Variations in valuations.] The practical defects and injurious consequences of such a system as this, it would be unnecessary to particularize.  It would, however, be less intolerable, if, once put in force, it could serve the merchant as a guide in the valuations of his property for a determined number of successive years.  What, however, renders this assessment more prejudicial, is its instability and uncertainty, and the repetition of the same operation I have just described every year, and with every cargo that arrives; but under distinct valuations, according to the reports or humor of the day.  Besides these great defects and irregularity, the Philippine custom house observes the singular practice of not allowing the temporary landing of goods entered in transitu and for re-exportation, as is done on the bonding system in all countries where exertions are made by those in authority for the extension and improvement of commerce in every possible way.  Of course, much less will they consent to the drawback or return of any part of the duties on goods entered outwards, even though they are still on board the very vessels in which they originally came shipped.  Beyond all doubt, the wrongly understood severity of such a system, has, and will, continue to prevent many vessels from frequenting the port of Manila, and trying the market, unable to rely on the same liberal treatment they can meet with in other places.

[The areca-nut.] The bonga, or areca-nut, is the fruit of a very high palm-tree, not unlike the one that bears the date, and the nuts, similar to the latter, hang in great clusters from below the protuberance of the leaves or branches.  Its figure and size resemble a common nut, but solid, like the nutmeg.  Divided into small pieces, it is placed in the center of a small ball made of the tender leaves of the buyo or betel pepper, lightly covered with slacked lime, and this composition constitutes the celebrated betel of Asia, or, as it is here called, the buyo, the latter differing from that used in India, inasmuch only as it contains cardamomom.

[Buyo monopoly unsatisfactory.] The government, anxious to derive advantage in aid and support of the colony, from the great use the inhabitants make of the buyo, many years ago determined to establish the sale of the bonga, its principal ingredient, into a monopoly, either by hiring the privilege out, or placing it under a plan of administration, in the form in which it now stands.  Both schemes have been tried, but neither way has this branch been made to yield more than $30,000; indeed the annual proceeds usually have not exceeded $25,000.  In 1809, the total amount of sales was $48,610, and deducting from this sum the prime cost and expenses of administration, the net profit in favor of the treasury was equal to no more than $27,078 or upwards of 125 1/2%.  In 1780, the privilege of selling the bonga was let out at public auction for the sum of $15,765 and this,