Page:The Philippine Islands, 1493-1803 (Volume 06).djvu/286

 [Marginal note: "This recommendation is excellent, and I have therefore signed the decree. I shall also endorse all that you shall say in regard to it in the Council, and what the members thereof shall approve."]

The King: To the Marques de Villamanrrique, my kinsman, and viceroy, governor, and captain-general of Nueva España. Having understood that the silks brought from China and the Philipinas Islands to your realms are quite worthless, but that nevertheless, because of the low price set upon them, they are sold and distributed; and because, if that trade continues, the trade in cloth exported from these realms would cease or be greatly decreased; and also that these silks, like other articles brought thence (all of which are of trifling value, and of no profit to the country), are bartered only for gold, silver, or coin, for there is abundance of everything else there—a matter, too, of considerable importance, both on account of the large amount that is withdrawn and would be withdrawn for the benefit of a foreign kingdom, and because these kingdoms [Spain and Portugal] lose that whole amount, their trade being more profitable for the common good, on account of the excellence of its wares, which in their lasting qualities more than make up for the difference in price; neither is this the best means for the settlement of the said islands, since they serve only as a lading-station for this trade, and it proves a hindrance to