case between Nueva España, Peru, and the Filipinas, which receive
annually two million pesos of silver; all of this wealth passes into
the possession of the Chinese, and is not brought to España, to the
consequent loss of the royal duties, and injury to the inhabitants of
the Filipinas; and the greatest loss, with the lapse of time, will
be that rebounding upon the Yndias themselves. All the projects and
prohibitions that have been devised to remedy this loss serve but to
inflict still greater injury, and to cause universal ruin.

As long as the viceroy of Nueva España continues to appoint the
captains and officials of the vessels sailing to the Filipinas,
the fitting reform cannot be instituted; for, it is clear that, as
such officials go from Mexico, they will not hesitate to take their
money and that of their friends; and even if other prohibitions may
be issued, they will not cease to do so.

The fitting remedy for this matter consists in having a consulate in
Manila, and in providing there the said officers, and in assigning to
each citizen of the islands the amount of goods that he may export. By
this method, a complete remedy for this evil will be provided, and
the inhabitants of the islands, for their own benefit and interest,
should endeavor to keep the trade themselves, and prohibit trading
or sending consignments of silver from Mexico or Peru.

The trading in, and consignments of silver to, the Filipinas by the
inhabitants of Mexico causes great detriment to the inhabitants of
the islands; for, because of the Mexicans sending so much silver,
the price of Chinese silks and merchandise has risen, so that, while
for twenty years, when only the inhabitants of the islands were
permitted to trade, they were wont to gain one thousand per cent,