u the customs on these
Chinese goods purchased in Mexico, seven per cent would be levied
thereon, which plus the five per cent paid in Mexico, makes twelve per
cent. The kingdom would feel greatly aggrieved if they were deprived
entirely of this commerce. And if Mexico continues to have trade with
China, a considerable quantity of Chinese goods will, however many
precautions will be taken, be hidden in the Mexican ships for Peru;
while but very little of it will be seized, and his Majesty will
lose almost four hundred thousand ducados, because the goods do not
enter publicly. Therefore it would be advisable that this license be
granted perpetually, with the above limitation.

+

A great lack of money has made itself felt in this colony; and,
after having thoroughly investigated the cause thereof, it has been
ascertained that it proceeds in part from the very great sum taken
out annually for China. It is also attributed in part to the issue of
the money from the treasury--not that it has been less than in other
years, but it has always been much more limited than it might be,
and than is advisable for a commerce that is increasing in extent
and value so much as is that of this kingdom. And since it would
be greatly to the advantage of the treasurer to coin more money,
they impute to him that, by not spending something at present, he is
thus niggardly in making the necessary provision, and that by this he
loses much and the state more. These two difficulties are reenforced
by another--that since there have hitherto been, for various reasons,
very few traders who were inclined to buy silver from private persons
and send it to the mint to have it coined on their account, it has
resulted that four or five men have made themselves the masters of
this traffic; consequently there has been a great increase this year
in the loss incurred by those who sell their silver in order to be
furnished with coin. All this has been observed at the time of the
vessels and trading fleet; and it is a matter of much moment, in which
it has seemed best to me to inform your Majesty, inasmuch as I have
undertaken to institute a reform. This, please God, will be made with
energy, as in breaking open a package. When the correctives usual
in this region (which are mild) do not suffice, I will propose to
your Majesty other and more severe measures, which might be adopted
by the Council, and one might be of sufficient advantage to your
Majesty. Howe