[77] The viceroy of New Spain, Martin Enriquez, makes the following interesting comments on the Chinese trade with the Philippines, in a letter to the king dated January 9, 1574: "Since I wrote to your Majesty by the despatch ship, I have seen some of the articles which have been received in barter from the Chinese; and I consider the whole thing as a waste of effort, and a losing rather than a profitable business. For all they bring are a few silks of very poor quality (most of which are very coarsely woven), some imitation brocades, fans, porcelain, writing desks, and decorated boxes; indeed, did I not have respect for more than the good government of this land, I would not permit a single one of these things to be brought into this kingdom. To pay for these they carry away gold and silver, and they are so keen that they will accept nothing else. I am told that they took away more than forty thousand ducats in gold and silver from the islands; and if this were not regulated, they would always have the best of it--although, if the Spaniards who traffic there with them were business men, they themselves would reject the goods carried to them, and would try to ascertain what goods the Chinese have and their value, and arrange so that the exchange should be profitable. I tell your Majesty of this because I shall write the general no more than that he must not permit Spaniards to carry on barter with gold that has not paid the tax." [78] In 1560 the Portuguese obtained the loan of a spot near the mouth of the Canton estuary, where they were permitted to establish a trading-post, which was named Macao. Before many years elapsed, more than five hundred Portuguese merchants resorted thither annually to trade. "By the regular payment of their rent (five hundred taels a year), as well as by a judicious system of bribing, the Portuguese long enjoyed the practical monopoly of the external trade of the great mart of Canton with the West." See D. C. Boulger's _History of China_, ii, pp. 146, 169. [79] The Chinese rulers here referred to are known in history by different names from those here given, even after making allowance for their pronunciation by Spaniards. Moutsong, twelfth emperor of the Ming dynasty, died in 1572, and was succeeded by his son Chintsong, better known under the name Wanleh. As this prince was then but six years old, his mother acted as regent during his minority. [80] The Ultramar MS. (see Bibliographical Data at end of this volume) reads, "the river of Panaca to Cubo."