I think I have the "P_" figured out. All Spanish bronze cannon are marked with the weight even if that's the only mark on them, which it is for some of the smaller pieces. The weight mark is often preceded by a P or a Po, standing in either case for "Peso" the Spanish word for weight. When this piece was engraved, the scale was broken, or it wasn't anywhere near a scale, and filling in the actual weight was postponed. For a long time, I might add.
Usually Spanish bronze artillery pieces, except the very smallest, have some mark of the King or Queen, either the Spanish coat of arms or with smaller pieces, merely a stylized "R" for "Real" meaning royal. In 1869 there was no Spanish monarch except Isabella II who had gone to France in exile, so I have no idea what they would have substituted if anything.