The text proper of the present volume is entirely commercial. In the conclusion of the Extracto historial, is seen the continuance, between the merchants of Spain and the colonies, of the struggle for commercial supremacy. Demands and counter-demands emanate from the merchants of Cadiz and Manila respectively; and economic questions of great moment are treated bunglingly. The jealousy, envy, and distrust of the Cadiz merchants sees in the increasing prosperity of the Manila trade, especially that in Chinese silks, only their own ruin. The Manila merchants, on the other hand, who have the best of the controversy, quite properly object to an exchange of the silk trade for the exclusive right in the spice trade. The laws of supply and demand seem to be quite left out of consideration. The appendix is an attempt to show the influences and factors making for education in the Philippines during the Spanish régime, and the various educational institutions in the archipelago. In it one will see that, while apparently there has been great activity, results have been meager and superficial. At the close of the preceding volume, we saw in the Extracto historial the "Manila plan" for regulating the commerce between the Philippines and Nueva España, and its adoption (1726) by the Spanish government for a limited period. Three years later (July, 1729) Cadiz protests against this concession, complaining of the abuses practiced in the Manila-Acapulco trade, and of the injury done to Spanish commerce by the importation of Chinese silks into Nueva España. In consequence of this, an investigation is ordered in Acapulco and Mexico, from which it appears that the amount of Manila's commerce is rapidly increasing; the viceroy therefore advises the home government to restrict it, as being injurious to the commercial interests not only of the mother-country but of Nueva España, especially in the matter of Chinese silks. Meanwhile, he notifies Manila that the galleon of 1734 must be laden in accordance with the old scheme, the five years' term having expired. At this, Manila enters a vigorous protest, and demands that the permission of 1726 be continued to the islands. After much discussion pro and con, a royal decree is issued (April 8, 1734) to regulate that commerce; the viceroy's order is revoked, the amount of trade permitted to Manila is increased, but otherwise the decrees of 1702, 1712, and 1724 shall be in force (with some minor changes). In the following year, Cadiz again complains of the Manila-Acapulco trade, and proposes that Chinese silks be excluded from it--offering, by way of compensation, to surrender to Manila the exclusive right to the spice trade in the American colonies. The royal fiscal disapproves this, for various practical reasons, and recommends that the whole matter be discussed at a conference in Mexico, attended by delegates from Manila and Cadiz. The Manila deputies place before