islands are today almost ruined because of this, besides the embarrassment in which that placed your royal treasury, so that if it had to pay what is due to the Indians, excluding what it owes the citizens, that would be more than two millions.  If it had not these calls upon its revenues, there would be enough to maintain it without your Majesty expending any more than the profits which he obtains from the islands, as may be seen by what follows, which is copied from the royal books of the royal accountancy with all fidelity.

Pesos

There are assigned to the royal crown tributes amounting to 36U516 and a half, of which 28U483 and a half of 8 reals are collected.  The rest, amounting to 5U033 of 10 reals, which is the province of Ylocos, amounts to 39U807

There are in all the islands 130U939 tributarios in encomiendas, and those under the crown pay your Majesty two reals of income 32U734

The tenths of gold are worth 2U000

The tenths on herds of cattle 2U500

The customs duties from the Chinese at six per cent on merchandise 80U000

Licenses imposed by Don Juan de Silva on every Chinaman who remains in the country, at 8 pesos 80U000

Duties on cloth belonging to citizens, which is brought in the ships from Mexico. 2U500

Customs duties on ships that go to Mexico sent by citizens of Manila, at three per cent of the merchandise 12U000

Other items, 4U pesos 4U000

Total amount 255U541

In this way your Majesty has, from year to year, a little more or less than two hundred and fifty thousand reals of eight, and in this there are included neither the freight charges of the ships which go to Nueva Espana, amounting to more than 30U pesos, nor the twelve per cent paid there on the merchandise which is sent, because this enters into the royal treasury of Mexico.  The expenses which your Majesty has in these islands are not so great that, if it were not necessary to furnish support for the war in Maluco with the Dutch, there would not be rather some surplus than a deficit; and you could well maintain four galleons and six galleys for its protection and defense.

Chapter V. That your Majesty possesses in the Filipinas enormous wealth, even with the little effort made to realize it.