22. That in the Philipinas Islands two ships should be built, each of 500 toneladas burden, which should transport the goods permitted to that trade; that the citizens should be authorized to convey in these to Nueva España the amount of 300,000 pesos in their products and other commodities, and on the return to Philipinas to carry 600,000 pesos in silver, allowing 100 per cent gain minus the duties and expenses. Among other things which they were commanded to watch over for the regulation and observance of the said commerce are the following: 23. That the city of Manila should itself make the distribution for the lading of the two ships, without the intervention of any official. 24. That the merchants and those interested in the trade should present within a specified time-limit the commodities, invoices, and articles which they were to send to Nueva España; that these should be placed in the royal storehouses, and the estimate of their value be made. This must be done by the agreement of two persons of experience, deputed by the city and the trade, with royal officials and the fiscal of the Audiencia of Manila, and the fiscal must superintend the entire valuation. If any merchant should feel aggrieved in the enumeration he should go before the committee [of distribution], in order that his just rights might be guarded; and if the committee did not take care of this, he should have right of appeal to the Audiencia. 25. That he who had no goods to lade should not be allowed to give up his right in favor of a third person, but it should accrue to the rest, a new distribution of that part being made. 26. That the registration be made by the royal officials, with the assistance of the fiscal; that the goods shipped and their valuation should be carefully ascertained; and that the decisions of the officials, or a copy of them, be sent to Acapulco for the use of officials there. 27. That in Acapulco must be ascertained the quantity of silver which should be shipped on the return voyage, and, if the goods sold should perchance exceed the 600,000 pesos, they [i.e., the Manila owners] should not be allowed to take away the excess in silver, but [must take it] in goods.