Note 7 — Trade of the Philippines

But if all this should cease, and España should have to supply the above-mentioned necessities because of shutting the door to the trade in the Philipinas, the bulk of silk stuffs would have to be brought Page 220from Francia and Flandes, to whom España always gives her treasures in exchange for this merchandise. For Constantinopla is so far from Italia, and so little do gold and silver suit that route—or else the French and the rebels7 are so skilful in getting this product away from us, that one may doubt whether they do not take it all with them. According to this, he who is not suspicious enough to believe that the merchants of Sevilla alone consider as enemies prejudicial to your Majesty’s crown those who do not trade much with them, should be astonished that they direct and regulate the reform so that the Chinese cannot avail themselves of the silver of Nueva España. For it is a fact that the Chinese do us no other harm than to keep the silver; and that the merchants do not consider that by that other road all tends to come into the hands of him who exerts himself with it in order to attempt and compass to acquire what remains.