Inasmuch as it is advisable to avoid trade between the West Indias
and China, and regulate that of Filipinas, as it has increased
considerably, thus causing the decrease of that of these kingdoms:
therefore, we prohibit, forbid, and order, that no person of the
natives or residents of Nueva España, or any other part of the Indias
trade or be allowed to trade in the Filipinas Islands. Should anyone
do so, he shall lose the merchandise with which he shall trade,
and it shall be applied, one-third each, to our royal exchequer,
the denouncer, and the judge who shall sentence him. In order to
show favor to the citizens and inhabitants [of Filipinas] and that
that trade may be preserved to sufficient extent, we consider it best
that they alone may trade with Nueva España, in the manner ordained
by the other laws, with this provision, that they convey their goods,
or send them with persons who shall come from the said islands. They
cannot send them by way of commission or in any other form to those
who actually reside in Nueva España, in order to avoid the frauds of
consigning them to other persons--unless it be because of the death
of those who should come with the goods from the said islands; for in
such case it can be done. And we also order that the inhabitants of
Filipinas cannot consign their merchandise to generals, commanders,
captains, officials, soldiers, or sailors of the vessels of that
commerce, or of any other vessels, even though these be inhabitants of
the said islands as well as the persons above mentioned. [3] [Felipe
II--Madrid, January 11, 1593. Felipe IV--Madrid, February 10, 1635.]