be very punctual
in this."]

ECONOMIC REASONS FOR SUPPRESSING THE SILK TRADE OF CHINA IN SPAIN
AND ITS COLONIES

_Reasons of expediency existing why the importation of the silk
of China and the other merchandise of that country ought not to be
permitted in the Indias and these kingdoms, but rather prohibited;
and the damages and troubles that follow from its not being prohibited
in every point, and its trade, are the following._

It is very pernicious to permit the importation of the silk of China
and its trade, both in the Indias and in Espana. For although not
more than two hundred and fifty thousand pesos de Tipuzque can be
taken from Nueva Espana to the Filipinas annually, besides that sum
another incalculable quantity of money is taken in reals of eight;
for the said silk can be bought or traded for nothing else, nor will
the Chinese give or exchange it for other merchandise. Consequently,
they manage to get hold of and carry away annually the greater part
of the eight-real pieces which are made in the said Nueva Espana,
in exchange for grass, which is the substance of that coarse and
harsh silk which is so plentiful among the Chinese. [53] Thus do they
weaken our strength and increase their own; and consequently they can
make war on us whenever they wish, without any cost to them as far
as we are concerned. And since this money does not come to Espana,
it cannot be invested there in merchandise, and the customs duties and
the excise duty cannot be collected from them; and they cannot return
with a greater sum of money with which to make larger investments,
resulting in the great increase of the said royal incomes, and the
common benefit of his Majesty's vassals. Besides, if that silk were
not taken from China to Nueva Espana, it would not be used there;
nor would it be poured into Piru and Tierra Firme, as is done. For,
notwithstanding the prohibition established forbidding any merchandise
to be taken there from China, a very large quantity of it is taken
to the said provinces from Nueva Espana, and it is used there--the
viceroys, generals, and justices concealing and favoring it for
their own private interest and benefit. For that reason much less
Spanish merchandise is used in the said Piru and Tierra Firme than
was formerly consumed, and than would be used if the merchandise of
China were not sent there. That condition causes the merchandise of
Espana to have one-half less value than before.