As for the memorial which your Majesty orders me to send touching the diminution of the quantity of silver which comes from Nueva Spaña to these islands, having looked into the matter it appears to me that not only is this design a proper one, but that it is very necessary to bring about this result; for I judge that only with the utmost difficulty can the drain of so much silver every year from that country and those mines be continued. They, too, are being exhausted like those of other countries, and the natives are diminishing; so that the silver is obtained in the most costly and scanty fashion, to be carried hither and go away to lie in the treasure-house of the king of China. I did not neglect to consider this when I proposed to your Majesty that the trade of these islands with Nueva Spaña should be exclusive of silk and woven goods, except linen and other products of this country, which are not of great importance; for although the coming of silver from there would not thus be altogether stopped, there is no doubt that it would be less, and we would avoid the drain from España by the French, English, and Flemish, of what they are accustomed to take away [in payment] for the linens which they carry thither to sell, and this saving would pass to the Yndias, as I have explained more at length in the letter which treats of this, a copy of which accompanies the present. If this is done, there will undoubtedly be more trade with Xapon, with the opportunity given by the silk trade; and in this manner we might continue establishing a trade so that the linen trade with Nueva Spaña might also be restricted, if linens for Indias could be more advantageously provided by some other part of España.