silver from Nueva Espana,
it seems best not to give an opportunity for this. On the contrary,
the decree should be observed which was despatched in the time of the
king our lord (who rests in glory), prohibiting the trade between
Macan and the Philipinas, for it is to be believed that this was
issued after mature deliberation and reflection; for that conduct
would be greatly to the satisfaction of the Portuguese, and we would
avoid the difficulties of opening that port to the trade from China,
as it is so important for these kingdoms to maintain what they hold in
Peru and Nueva Espana. But it would be very desirable to order that
there shall be considerable understanding and correspondence between
the governors, so that in case the ships from one region make port
at the other, driven by the weather, they may be well received and
treated; and also that they may help each other in times of need,
with money and whatever shall be necessary of provisions, munitions,
and other supplies pertaining to the defense of the land and operations
against the enemy.

The Marques de Velada said that if the trade of Nueva Espana with the
Philipinas could be kept within moderate bounds, and if nothing came
from China to the Philipinas except what was needed there, he would
consider it good; but he regards this as difficult, and therefore
supports the chief comendador of Leon.

The Conde de Chinchon said that the preservation of the Indias
consisted in this, that, through their need of articles which are
not produced there, they always depend upon this country; and it
would be the means of losing them if their wants could be supplied
elsewhere. To think that if there were trade between Nueva Espana
and the Philipinas there would cease to be any with China would be
an evident mistake, and therefore it should be closed. In so far as
concerns Macan, order should be given that the decree which has been
issued be observed, as the chief comendador of Leon has said. In this
state of affairs it has seemed best to him to advise your Majesty that
it ought to be carefully considered whether it is expedient that each
year there should be carried to Eastern India a million eight-real
pieces for articles of so little importance as are those which are
brought thence; and what plan could be made to obviate this drain of
silver, as we are in such need of it here.

The constable of Castilla said that the reports [from the other
councils] discussed only