Note 19 — III. Trade and Commerce at the Time of Discovery and Conquest

“All of these things (referring to the trade of the Philippines) make life in that region pleasant and an object of desire to men; and indeed it seems a copy of that Tyre so extolled by Ezequiel.” (Relación de las Islas Filipinas, Pedro Chirino.—Bl. and Rb., Vol. 13, p. 192.)

“The capital of our colony was, therefore, a few years after the conquest, an emporium of wealth which, by its commercial activity, gained in those seas the title of Pearl of the Orient.” (La Libertad de Comercio, Azcarraga, p. 41.)

“The commerce of these islands began with their second discovery and the first settlement, which was in the year 1565. However, it was at the first scanty and of little weight, until during the government of Guido de Labazarris, in the year 1576, the trade of China was introduced, and with it considerable profits, which extended it freely to Nueva España, Guatimala, Tierrafirme, and Perú, by a royal decree of April 14, 1579.” (Informatory Memorial addressed to the king, Juan Grau y Monfalcon; Madrid, 1637.—Bl. and Rb., Vol. 27, pp. 157–158.)