Note 57 — Chapter II · THE ESTABLISHMENT OF THE AUDIENCIA OF MANILA (1583–1598).

The amount legally permitted to be taken to the Philippines at this time was 500,000 pesos (subsequently 1,000,000 pesos). The galleon, on the voyage from Manila to Acapulco, could carry merchandise to the registered value of 250,000 pesos (later 500,000 pesos). This regulation was first enacted January 11, 1593 (Recopilación 9–45–6, 9). On the same date residents of New Spain were forbidden to trade in the Philippines and the entire Philippine and Chinese trade was expressly reserved to subjects in the Philippines. The latter were given the exclusive privilege of sending goods to New Spain (ibid., 1). They were permitted to buy only from the Chinese merchants who came to Manila (ibid., 34).—See Martinez de Zúñiga, Estadismo, I, 266–270.