should. Nothing else has wrought such ruin in the country as the trading and trafficking of those who govern it.
And in order that this land should meet the high hopes which your Majesty has for it, it would seem of the utmost importance to restrain not only the governors from trading, but the soldiers as well. From their trading have resulted losses to your Majesty, which I shall point out.
Every year there goes out of this country to China three hundred thousand pesos of silver, and this year more than five hundred thousand. The Chinese obtain here much gold, which they take away, and none of it ever comes back to this country; and what they bring for it is the dregs of their own country, while what they take is the fat and richness of your Majesty's realm.
Through the opportunities furnished by commerce, a great many Chinese come hither, which is no small injury for so weak and poor a land; for every Chinaman eats more than do five Moros and always of the best, even though the cost is high, and in this way provisions are made dearer. With the interest in inordinate gain, they cease to perform their duties, because these are of less profit than trade. If this were stopped, some of them would, for their own interest, seeing that there is nothing else of which they are capable, stay in these islands as farmers, others as stock-raisers; and still others would work at the mechanical trades, and especially at building, which is so important a trade in this country. In this way they would receive their profits, and the Spaniards would have all the service they wanted, and that very cheaply. If they no longer bring silk and brocades,
