seek means to get profits from their property. The limitation of
this permission entails a difficulty which I have mentioned; for in
the first place measures must be taken to enrich them, since it is
of so great importance to kings that their subjects should be rich,
while the poverty of the latter causes such diminution of their
power. If this reason holds in all the kingdoms of your Majesty,
it does so much more in that one which is so distant, where, when
necessary, they lend to the royal treasury on occasions of need--as
they did last year to Don Alonso Faxardo de Tenca, your governor,
whom they lent 200U ducados to lead an army against the Dutch, and
likewise their slaves to man four galleys. They have done this same
thing on other occasions, and expose their persons in war and lose
their lives, as many of the best men of that city have done--their
misfortune lying in this, that they were so far distant from the royal
eyes of your Majesty, wherefore their services are not conspicuous.

In the second place, there is the greediness of the merchants from
Mexico, to whom the greater part of this silver which passes to the
Filipinas belongs; if this could be remedied, the difficulty of so
much outflow of silver as is reported would be obviated. But the
remedy is not to send thither judges and guards who are not to allow
it to pass; for on the contrary, as our experience shows, they go
to enrich themselves by the salaries which your Majesty gives them,
and the profit which they there make. For in all countries ill-gained
wealth is thus christened. The silver which goes there is of no less
value to the royal exchequer than that which comes here, since the
investment of it pays no fewer duties, but more; and at least it
comes finally into the hands of our friends, and is not like that
which comes to Espana--which for the most part is enjoyed by the
enemies of your Majesty; and the fleets go more heavily laden with
the enemy's property than with that of your vassals.

The merchants of Sevilla complain that the trade with China has been
destroyed by the Indias, but they do not understand the cause of its
ruin. The Marquis de Montesclaros, who governed Nueva Espana and Piru,
and understood this matter very well (as he did many things), wrote
your Majesty a letter from the Indias, which is in your royal Council,
where he says with clear and evident arguments: "But what strikes
me is, that as the commonest and most universal m