Treasury Matters

Sire: 

The officials of the royal treasury will give your Majesty a detailed account of the condition of your treasury in these islands—­which beyond all doubt is very pitiable, because of the smallness of the relief that has come these last few years from Nueva Espana, and the little profit that the islands themselves have produced, because of the great decrease in commerce.  That obliges me to see what measures will be advisable to increase the revenues and decrease the expenses of this royal treasury.  The other day, I proposed in a meeting of the treasury, of which I send a copy, what will be seen in that copy—­for whose better understanding, and so that the advisability of the proposition may be seen in your royal Council, I thought it fitting to write this section.

First point of the letter

Your Majesty has ordered by many decrees that we try to obtain cloves, from our present possessions in the Malucas, and that they be cultivated for your royal treasury.  In accordance with that command—­although your Majesty’s purpose had not been realized hitherto, either because the governors my predecessors were unable (which is the most certain thing), or they did not always have the cloves in the quantities necessary, or because of the corrupt agents who have been occupied in that business—­I have now forty-five bars [i.e., bahars] of cloves stored in the magazines; and I judge that an average of fifty bars per year (rather more than less) could be obtained without much difficulty.  Considering the question of the cultivation and investment of that quantity, I think that by no other route can this be better accomplished, or with more gain to your royal treasury, than by way of Yndia.  I base my assertion on the following argument.  Fifty bars of cloves are worth four thousand pesos in Maluco.  If they are traded for clothing such as the Moros wear, the cost will be one-half less.  The carriage from Maluco to Manila is nothing, for they will be brought in the ships of the usual relief expedition to those forts.  The fifty bars, delivered in this city, are worth already at least ten thousand pesos.  Once laden for India, and carried at your Majesty’s account in your own ship, they will be worth thirty-five thousand pesos and more when delivered in Goa or Cochin, as is affirmed by men experienced in this kind of merchandise.  Your Majesty needs many things in your royal magazines which are brought from the above-named cities, such as saltpetre, iron, anchors, slaves for the galleys, arms, biscuits, cayro, white cloth, and wearing apparel for convicts.  Those articles are bought every year in Manila from merchants of Yndia, at excessive rates.  The thirty-five thousand pesos resulting from the cloves having been invested, then, in those articles at Goa or Cochin, and having been brought to Manila on your Majesty’s account and investment, will be worth at the figures now paid for the said