Note 4 — Letter from Andres de Mirandaola to Felipe II
Reading edition
In 1560 the Portuguese obtained the loan of a spot near the mouth of the Canton estuary, where they were permitted to establish a trading-post, which was named Macao. Before many years elapsed, more than five hundred Portuguese merchants resorted thither annually to trade. “By the regular payment of their rent (five hundred taels a year), as well as by a judicious system of bribing, the Portuguese long enjoyed the practical monopoly of the external trade of the great mart of Canton with the West.” See D. C. Boulger's History of China, ii, pp. 146, 169.