Note 6 — Commerce between the Philippines and Nueva España

On the credit side of the account, the tributes from the crown encomiendas are worth each year 53,715 pesos; and the two reals which are paid to the king by each Indian in the private encomiendas amount to 21,107 pesos. The licenses which are given to the Sangleys come to 112,000 pesos; and the tributes from these Sangleys, to 8,250. The fifth and the tenth of gold, 750 pesos. The ecclesiastical tithes, which are collected by the royal exchequer for the support of the prelates and clergy, 2,750 pesos. The freight charges in his Majesty’s ships, 350 pesos. The court fines, 1,000 pesos. The customs duties, 38,000 pesos. The mesada and half-annats, 6,000. From these ten sources the income amounts to 243,922 pesos; to this must be added the imposts, freight dues, and customs duties which are collected in Nueva España on the merchandise that comes from the islands—all which amount to 300,000 pesos, and this is income that results and proceeds from the islands; accordingly, by a decree of February 19, 1606, it is commanded that these charges, adding to their amount each year, be remitted to Manila, and that so much less be sent from the royal exchequer of Mexico. And if all these goods are sold and traded in Nueva España once, or two or more times, and pay the customary charges of alcabala,6 if the rate of two [per cent] which they usually pay was moderated to 30,000 pesos in the larger memorial, the rate on the said [sales] will certainly amount to 60,000 pesos. With this, the islands now have 593,922 pesos to their credit; so that their [actual] expense cannot be estimated at more than 256,812 pesos—[and that] without counting the proceeds of the Crusade, those from intestate property, or the monopoly of playing-cards.