The chief cause for the ruin of these islands is the great trade that
the Sangleys carry on. The king has permitted the inhabitants of the
Manilas to export a portion of their capital to Nueva Espana. in the
merchandise of that country. The Spanish inhabitants daily lend their
names to those Sangleys and to the Portuguese of Macao, so that they
may enjoy the freedom of that commerce. These people do not attempt
to hide the fact that they are acting as agents for the inhabitants of
Mexico; and these last years they sent such a quantity of merchandise
to Peru and to Nueva Espana that no sale could be found for it. That
is a hindrance to the voyages of the trading fleet. The king of
China could build a palace with the silver bars from Peru which have
been carried to his country because of that traffic, without their
having been registered, and without the king of Espana having been
paid his duties, as has been well shown by Dom Pedro de Quiroga y
Moya. That silver was sent at the account of influential persons, who
do not reside at the Manilas. The two vessels which left in his time
paid more duties to the king than all the other ships put together
which had made that voyage before; that clearly shows the neglect
of the other officials commissioned to receive the duties from his
Majesty. They have attempted to conceal this truth, by saying that
those ships were richer than the others because Dom Sebastian Hurtado
de Corcuera had written, in the preceding year, that he would not send
the vessels that year; and that he had even detained and caused the
unlading of those that had been on the point of sailing on the voyage
to Acapulco. I do not know his reason for so doing, but I know well
that he wrote that resolution at the Embocadero of Manila--that is to
say, eighty leguas from the city--and that without having consulted
the inhabitants of the Manilas. Those of the country are agreed that
that delay has been their ruin; for they all know that they cannot
maintain themselves against the Dutch or against the Mahometans except
by means of the regular succor that is sent them from Nueva Espana.