order to form a society of intellectuals who can produce new, useful ideas, formally established the Spanish Royal Economic Society of Friends of the Country, after the model of the Royal Basque Society. Composed of leading men in local and foreign scholarships and training grants in agriculture and established an academy of design. It was also credited to the carabao ban of 1782, the formation of the silversmiths and gold beaters guild and the construction of the first paper mill in the Philippines in 1825. It was introduced in 1780, vanished temporarily in 1787–1819, 1820–1822 and 1875–1822, and ceased to exist in the middle of the 1890s. Royal Company of the Philippines On 10 March 1785, King Charles III of Spain confirmed the establishment of the Royal Philippine Company with a 25-year charter. After revocated the Royal Guipuzcoan Company of Caracas that had a monopoly on Venezuelan trade, the Basque-based company was granted a monopoly on the importation of Chinese and Indian goods into the Philippines, as well as the shipping of the goods directly to Spain via the Cape of Good Hope. The Dutch and British both bitterly opposed it because they saw the company as a direct attack on their trade in Asia. It also faced the hostility of the traders of the Galleon trade (see above) who saw it as competition. This gradually resulted in the death of both institutions: The Royal Philippine Company in 1814 and the Galleon trade in 1815. The first vessel of the Royal Philippine Company to set sail was the "Nuestra Señora de los Placeres" commanded by the captain Juan Antonio Zabaleta. Taxation Also there was the bandalâ (from the Tagalog word mandalâ, a round stack of rice stalks to be threshed), an annual forced sale and requisitioning of goods such as rice. Custom duties and income tax were also collected. By 1884, the tribute was replaced by the cedula personal, wherein everyone over 18 were required to pay for personal identification. The local gobernadorcillos were responsible for collection of the tribute. Under the cedula system taxpayers were individually responsible to Spanish authorities for payment of the tax, and were subject to summary arrest for failure to show a cedula receipt. Aside from paying a tribute, all male Filipinos as well as Chinese immigrants from 16 to 60 years old were obliged to render forced labor called "polo". This labor lasted for