Note 1 — Treasury Matters

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— [30] 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 [31] 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 articles, ninety or one hundred thousand pesos. And even if all this did not rise to so high prices, I am sure that fifty thousand pesos (which is one-half less than one might consider them to be worth) will be the return in products to these magazines from the fifty bars, which will cost four thousand pesos in money at first cost, as I have said—and if they be bought for the peculiar cloth of Yndia, two thousand pesos. That would be a very considerable gain and relief to the royal treasury.1 [In the margin: “Consult with his Majesty as to what the governor proposes; and say that it has been judged best, before advising what we think of it, to refer the matter to his Majesty, so that he may order the council of Portugal to state their opinion regarding the matter. Having examined it from all points of view, an opinion will be given.”]2