This result will also be experienced by the crown of Castilla, because the trade of Nueva Espana with China serves only to carry thither silver which ought to come to Espana, and to bring from China the silks which might be sent from Espana. Whence great injuries to Espana follow, as is notorious, through the loss both of the silver of which it is deprived, and of the duties and profits on its silks. The trade of Nueva Espana with Japon is also unprofitable, because there are no goods on which to secure gain either going or returning, except what they may get from the silks which they carry from China, to Japon, and from some iron, copper, cabinets [_escritorios_], and similar articles. Indeed, on account of the before-mentioned disadvantages, it is easier to lose than to gain in this trade; and if it should be expanded your Majesty would suffer other disadvantages. This has already been seen on some occasions when it has been tried. The trade of Filipinas with China may be hurtful in so far as the silver carried is concerned, because this might come to Espana. It is true, the silk trade with China is of some profit to Filipinas as a basis of trade with Nueva Espana--which cannot be dispensed with--to supply the things needed from there. But this silk trade might be substituted by carrying some of the gold of Filipinas to Nueva Espana to buy what is necessary from Espana, to which thereby would come more advantage; and by carrying also some of the silks which the people of Chincheo are wont to take to Manila. These are bought in this way more advantageously than when the Filipinas merchants go to China to buy, as has been seen during many years' experience with the former method. But it might even be well to put an end to the coming of the people of Chincheo to Manila (many of whom live there by agreement), because they have already attempted to take possession of the city; and now, when the Hollanders are resorting thither, this should be more carefully watched. To prevent the coming of the Chinese, your Majesty might order the inhabitants of Macao to take to Manila the silks, bronze, and other things needed in Filipinas which the people of Chincheo bring. And everything will be more secure, the profit will be much greater, and all of it will accrue to your Majesty's subjects if it be ordered that the Chinese shall not sell anything that the inhabitants of Macao have to sell.