commodities, on account of their abundance and poor manufacture, would not allow them to gain ten per cent, since the risks extended to fifty per cent. 73. The city of Manila, in order to render commendable and frame in more formal manner its appeal from the aforesaid decree of October 27, 1720, which it must bring before the royal person--not only for the continuation of the traffic in the silken fabrics, but also for the increase of its permission from the three hundred thousand pesos which it was enjoying to five hundred thousand--came before the Audiencia and presented before it the arguments and reasons in favor of both these requests. After explaining the losses that would arise from the desolation and depopulation to which the islands would come (which the Audiencia took into consideration in its memorial, as will be noted) the city added that when in Manila there were only 230 citizens (which was in the years 1636-37) returns of 500,000 pesos were permitted to them; but since in the year 1722 the city had 882 citizens, and there was an increase in the charitable foundations, which placed 150,000 pesos at risk on each galleon, the necessity was evident of increasing the permission to 500,000 pesos--350,000 pesos for the citizens, and 150,000 for the charitable foundations. This increase in the number of citizens made necessary the expansion of the permission, from the very fact that in the year 1702, in which there were only 400 citizens, his Majesty had permitted 300,000 pesos of investments, and 600,000 pesos in returns.