ommerce of Espana, while its benefit to Peru is
certain--especially to the poor and common people, of whom there is
a great number--and since it seems desirable, for the adornment of
the churches of the Indians, that there should be goods from China, my
opinion would be that license should be given for only one-half million
(ordering under heavy penalties that this sum be not exceeded), to be
used in the following manner: Four hundred thousand ducados' worth of
merchandise should be brought, and one hundred thousand worth of gold
bullion. The latter is likewise merchandise in China; but traders do
not like to take it as it yields them no more than fifty per cent,
while on the other merchandise they make five hundred per cent and
upward. Thus if this silver should be allowed to them, they would
obtain gold, and this one-half million would yield three millions
in Peru from merchandise which will be worth three hundred thousand
ducados in import duties to his Majesty, besides the other dues imposed
on the aforesaid goods. Thus the customs will increase, and, as said,
these five hundred thousand ducados need not to be considered, as it
is thought that this amount cannot diminish the commerce with Espana;
for every year the merchandise of Peru yields six or seven millions,
and if the trading fleets and armed galleys are sent at the same
time, much more money will go to Espana, which on this account does
not go there. These five hundred thousand ducados have, in previous
years, always gone from China to Peru by way of Mexico; and as the
merchants say truly, the winterings and increased duties and expenses
of the winterings are causing the commerce to deteriorate. This
is proved by the above arguments of the merchants, evidently cited
from actual facts. Thus, if the merchants were provided with money,
and were able to dispose of their cargoes every two years, and with
the proceeds thereof begin new commercial enterprises, they would not
be only exhausted and ruined, but rather they would be placed in easy
circumstances and the country would be relieved from its difficulties
by the gains thus made. With more goods, it is evident that the royal
exchequer would benefit more as aforesaid. Therefore it would not be
advisable to prohibit all commerce with China.

And at the very least, the five hundred thousand ducados should be
granted, so that the merchandise taken to Mexico from China can
be purchased in Mexico. Collecting in Per