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The second bridge to span Pasig river was the suspension Clavería Bridge, so called because its contruction began during Governor General Narciso de Clavería's term. The bridge is known more commonly as Puente Colgante or Suspension Bridge. In present times, ignorance of Spanish in the Philippines makes many bridge historians with no knowledge of the language call it erroneously “Puente de Colgante.”

In mid 19th Century the insular administration considered the need to build a bridge to connect the Quiapo District with Arroceros. The Government granted a ninety-year franchise to Ynchausty y Compañía (YCO) to build and operate a toll bridge. Construction commenced in 1849 and the bridge opened to the public in 1852. The bridge was suspended from two pairs of pylons built on solid ground, like the side pylons. Suspender cables traveling from the main cables held in place a wooden deck and roadway. The roadway was seven meters wide, enough to accommodate two lanes for rolling traffic and an island in between for pedestrians.

Popular historiography has maintained till today two stories that are not entirely factual. The first is that Gustave Eiffel was involved in the bridge design. But by the year construction began, Eiffel was only 17 years old, not very likely with the qualifications to design bridges.

The other story claims that the bridge had steel cables and an iron structure, a story that appears in practically all the literature about the bridge. However, analysis of photographic evidence shows quite clearly that the suspension and suspender cables were made of twisted hemp, not of steel (left and below,) and that the deck was wooden, including the beams (hanging from suspender cables) on which the roadwork was laid (right.) It is possible nonetheless that in American times the bridge was refitted with steel beams and cables, as a 1900 or 1902 photo of a large number of steel beams stored by the Arroceros side of the bridge suggests.
Colgante Bridge was dismantled in 1939 and on its site the steel Quezon Bridge, also known as Quiapo Bridge, was built.