may be assigned by contract._

The viceroy made the experiment in the year 99, of giving two ships
in trust to Don Fernando de Castro and Alonso de Torres, with the
privilege of appointing officers, a salary of one thousand pesos, and
permission to place in the cargo twenty or twenty-five toneladas of
their own goods; they were obliged to give bonds, and to keep correct
accounts of the profits and expenses. If the profits should exceed
the expenses, the excess should belong to his Majesty; if the costs
should amount to more than the profits, the trustee must supply the
deficit from his own purse.

The officials of his Majesty at the port of Acapulco oppose this plan,
and say that it is very unprofitable, and to the injury of his Majesty
and the royal exchequer, in that the trustees attend only to their
own profit. It is the universal opinion that the "Santa Margarita"
did not come here on account of having been sent out thus in trust.

Thirteenth Point

_That a limit be placed on the merchandise brought from China._

Fourteenth Point

_That there be trading and voyaging to Eastern India._

There are also the general points, that the commerce of Nueva Espana
with Piru and Tierra Firme in silks and Chinese merchandise be
prohibited, without any discrimination of persons, as being a great
damage and injury to the trade of Espana and defrauding the royal dues.

The licentiate _Alonso Fernandez de Castro_

Various Documents Relating to Commerce

Rule 45 on the leasing of the import duties of Sevilla, and likewise
the ordinances made by the prior and consuls [8] of Mexico in regard
to this trade of the Filipinas, are to be considered by the assembly
discussing the trade of the Filipinas, in order to decide what is
best to be done.

Letter from Fray Martin Ignacio de Loyola

_Jesus_

As I could not be present, I have written out my answer in my memorial
on the Filipinas, and it accompanies the present letter, by which your
Lordship will see what I advocate. I assert that, beyond all doubt,
what I here point out would be the only remedy.

This morning when I went to receive your Lordship's blessing, and
offer my respects, it was already late; and I believe that I shall
not be able to do it tomorrow. Therefore I beseech your blessing
in this, as one whom I hold in so great esteem, and to whom I owe
so much. Upon all occasions I shall advise you of my affairs and
matters of importance. As from one f