The goods of the Sangleys who come to trade in Filipinas with Chinese
merchandise, and who sell them at wholesale at a price [named] by
persons deputed for it (which is what is there called _pancada_), are
left in their possession under guarantee that they will not dispose
of them without an order from the governor; and that a price will not
be set on the small things, but only on certain fine products. And
inasmuch as this is advisable, we order that the Sangleys be notified
who shall have to return to those islands, that they must and shall
pass according to the laws and orders that shall be made for them. And,
in respect to the pancada, it shall be continued with, all gentleness,
so that the Sangleys shall not receive any injury; and so that no
occasion be given them so that they shall discontinue their coming
to attend to their trading. [Felipe II--Madrid, June 11, 1594.]