_The quantity of merchandise which may be traded with; and that which,
contrary to the prohibition, is brought from the Western Indias to
the Filipinas._
By decrees of his Majesty, of January 11, 93, and of July 9 and 5, 95,
the trade of the Western Indias with China and the Filipinas Islands
is prohibited. It is only permitted therein that the citizens of the
Filipinas may trade with Nueva España; and that two ships, each of no
more than three hundred toneladas, shall sail from Nueva España every
year, in which may be sent 250,000 pesos of Tepuzque [6] in coin,
and which may carry back the proceeds thereof in merchandise, which,
under fixed penalties, shall not exceed another 250,000 pesos--that
is, in all, 500,000 pesos.
Notwithstanding these prohibitions, and although the same is also
commanded by other decrees to be strictly observed, two million reals
are usually taken out of the Indias for the Filipinas, according to
advices from the viceroy of Nueva España, and from Señor Don Bernardino
de Avellaneda.