"The capital of our colony was, therefore, a few years after the conquest, an emporium of wealth which, by its commercial activity, gained in those seas the title of Pearl of the Orient." (La Libertad de Comercio, Azcarraga, p. 41.) "The commerce of these islands began with their second discovery and the first settlement, which was in the year 1565. However, it was at the first scanty and of little weight, until during the government of Guido de Labazarris, in the year 1576, the trade of China was introduced, and with it considerable profits, which extended it freely to Nueva España, Guatimala, Tierrafirme, and Perú, by a royal decree of April 14, 1579." (Informatory Memorial addressed to the king, Juan Grau y Monfalcon; Madrid, 1637.--Bl. and Rb., Vol. 27, pp. 157-158.) [95] "For thirty years after the conquest the commerce of the islands was unrestricted and their prosperity advanced with great rapidity." (Historical Introduction, E. G. Bourne.--Bl. and Rb., Vol. 1, p. 61.) "As for the second point, the amount of the commerce, this was formerly without any limitation; and during the time (which was short) while that condition lasted the islands acquired what strength and wealth and grandeur they now possess." (Juan Grau y Monfalcón in Extracto Historial by Antonio Alvarez de Abreu; Madrid, 1736.--Bl. and Rb., Vol. 30, p. 50.) This is the point of view taken by Azcarraga in his La Libertad de Comercio en Filipinas. [96] "In 1603, that is, when our colony had only thirty-two years of existence, there were already in the capital 25,000 Chinese, and the number of Japanese must have been also quite considerable, since they formed a colony which occupied the barrios of San Anton and San Miguel, at present inhabited by natives and a great portion of the white population." (Azcarraga, La Libertad de Comercio, p. 44.)