privileges to this effect sent to you in proper form.
We also grant you grace and give you license and power, so that each year hereafter you may take and send, and you shall send, either in our vessels or in any others that you may prefer, to said islands and lands that you shall discover, as above, the value of one thousand ducats first cost. This is to be employed at your risk, and in the place and manner you may deem best. And you can sell this there and use it as you shall decide and desire. You shall bring the returns thereof to these kingdoms, paying us as our rights the twentieth part thereof, without being obliged to pay any other taxes whatsoever, those usually imposed or those which may be newly levied. It is to be understood, however, that this is to be after the return from the first voyage, not during the same.
Moreover, it is our will and pleasure that if the islands, which you shall discover in this manner, exceed six in number, having first chosen six [for us], you may assign to yourselves two of those that remain. Of these you shall have and take the fifteenth part of all the profit and gain of rent and rights pertaining to us, left clear, over and above the expenses involved.
Yten: We wish and it is our will and pleasure that, considering the expenses and labors involved by you on said voyage, to grant you grace—as we do by this present—that at the return of this first fleet and for this once you shall have and take the fifth part of whatever pertains to us in the things that you bring from those regions, which remains clear, over and above the expenses involved in the said fleet. In order that you may accomplish the aforesaid better, and that the necessary caution may be observed, I shall order five ships to be armed for you, two of one
