The chief cause for the ruin of these islands is the great trade that the Sangleys carry on. The king has permitted the inhabitants of the Manilas to export a portion of their capital to Nueva España. in the merchandise of that country. The Spanish inhabitants daily lend their names to those Sangleys and to the Portuguese of Macao, so that they may enjoy the freedom of that commerce. These people do not attempt to hide the fact that they are acting as agents for the inhabitants of Mexico; and these last years they sent such a quantity of merchandise to Peru and to Nueva España that no sale could be found for it. That is a hindrance to the voyages of the trading fleet. The king of China could build a palace with the silver bars from Peru which have been carried to his country because of that traffic, without their having been registered, and without the king of España having been paid his duties, as has been well shown by Dom Pedro de Quiroga y Moya. That silver was sent at the account of influential persons, who do not reside at the Manilas. The two vessels which left in his time paid more duties to the king than all the other ships put together which had made that voyage before; that clearly shows the neglect of the other officials commissioned to receive the duties from his Majesty. They have attempted to conceal this truth, by saying that those ships were richer than the others because Dom Sebastian Hurtado de Corcuera had written, in the preceding year, that he would not send the vessels that year; and that he had even detained and caused the unlading of those that had been on the point of sailing on the voyage to Acapulco. I do not know his reason for so doing, but I know well that he wrote that resolution at the Embocadero of Manila--that is to say, eighty leguas from the city--and that without having consulted the inhabitants of the Manilas. Those of the country are agreed that that delay has been their ruin; for they all know that they cannot maintain themselves against the Dutch or against the Mahometans except by means of the regular succor that is sent them from Nueva España.