And I assert that, should his Majesty ask me for my opinion, I would tell him that, if it is true that the Chinese merchandise can in no way injure the commerce of Espana, while its benefit to Peru is certain—­especially to the poor and common people, of whom there is a great number—­and since it seems desirable, for the adornment of the churches of the Indians, that there should be goods from China, my opinion would be that license should be given for only one-half million (ordering under heavy penalties that this sum be not exceeded), to be used in the following manner:  Four hundred thousand ducados’ worth of merchandise should be brought, and one hundred thousand worth of gold bullion.  The latter is likewise merchandise in China; but traders do not like to take it as it yields them no more than fifty per cent, while on the other merchandise they make five hundred per cent and upward.  Thus if this silver should be allowed to them, they would obtain gold, and this one-half million would yield three millions in Peru from merchandise which will be worth three hundred thousand ducados in import duties to his Majesty, besides the other dues imposed on the aforesaid goods.  Thus the customs will increase, and, as said, these five hundred thousand ducados need not to be considered, as it is thought that this amount cannot diminish the commerce with Espana; for every year the merchandise of Peru yields six or seven millions, and if the trading fleets and armed galleys are sent at the same time, much more money will go to Espana, which on this account does not go there.  These five hundred thousand ducados have, in previous years, always gone from China to Peru by way of Mexico; and as the merchants say truly, the winterings and increased duties and expenses of the winterings are causing the commerce to deteriorate.  This is proved by the above arguments of the merchants, evidently cited from actual facts.  Thus, if the merchants were provided with money, and were able to dispose of their cargoes every two years, and with the proceeds thereof begin new commercial enterprises, they would not be only exhausted and ruined, but rather they would be placed in easy circumstances and the country would be relieved from its difficulties by the gains thus made.  With more goods, it is evident that the royal exchequer would benefit more as aforesaid.  Therefore it would not be advisable to prohibit all commerce with China.

And at the very least, the five hundred thousand ducados should be granted, so that the merchandise taken to Mexico from China can be purchased in Mexico.  Collecting in Peru the customs on these Chinese goods purchased in Mexico, seven per cent would be levied thereon, which plus the five per cent paid in Mexico, makes twelve per cent.  The kingdom would feel greatly aggrieved if they were deprived entirely of this commerce.  And if Mexico continues to have trade with China, a considerable quantity of Chinese goods will, however many precautions will be taken, be hidden in the Mexican ships for Peru; while but very little of it will be seized, and his Majesty will lose almost four hundred thousand ducados, because the goods do not enter publicly.  Therefore it would be advisable that this license be granted perpetually, with the above limitation.