The arguments which, it seems, were presented to your Majesty by the said letter and an enclosed memorial, for this purpose, are reduced to the exaggeration of the general and individual inconveniences and losses with which the voyage is attended at present in the route that is followed; and that those inconveniences and losses would all cease, and great and recognized blessings to the universal benefit of your Majesty’s kingdoms would result, if measures of the sort that those merchants desire were to be taken.  Although one might satisfy the originator of the idea with less, we shall enlarge the reply to greater length bearing in mind that the dimensions of this scheme are not measured by his yard-rule; nor can the advantages resulting from it compare with the hundred per cent of their profits.  We especially consider that we are talking with your Majesty through councilors and ministers of such high standing, among whom any state argument, however great, has its due consideration and place.

It is recognized, Sire, that the chief means of keeping these kingdoms tranquil is to make them dependencies of Espana, in what pertains not only to distributive and commutative justice, but also to whatever else is necessary for the preservation of life, in the spiritual as well as the temporal.  But dependence of this sort, when viewed entirely and only from the sovereigns’ standpoint, is regulated by what is necessary and requisite that the vassals of regions so distant may live in the subjection, and render the obedience and loyalty that are due from them.  Although this argument, since it is the most substantial, when it encounters the others most justly takes precedence of any other and private advantage of the vassals themselves and the kingdom, it would [not] be excusable to molest and vex the subjects with what is not actually necessary, if the above purpose could be attained at less cost and vexation to them.  Accordingly, in the matter of restricting the mutual trade of certain kingdoms, and directing that trade to Espana alone, one must proceed with very great caution, and with measures adapted only to what the attainment of the chief end demands, in order that we may avoid as far as possible the harm that might result; since, if this body saw itself so disunited that it could not even avail itself of its own members, it might become desperate, and the whole might fall into decay, as is usual with those in despair.

They are persuading your Majesty that the trade of these kingdoms with Espana is decreasing.  I, Sire, feel differently, and am persuaded that never were the profits resulting from it greater; nor am I less certain that such result must necessarily follow, in this manner.