Sire: The pressing obligation which rests upon all good vassals to render some service which shall be profitable to their sovereigns encourages my faint-heartedness to lay at the royal feet of your Majesty this work, which I offer with the utmost submission, with the assurance of my most loyal desires that your Majesty may enjoy the most prosperous and glorious reign over these dominions. [I am also urged on by] my own practical knowledge [of the subject], and the demand of the entire nation, especially of the mercantile interests--although little do they suspect that I have undertaken the enterprise with so much energy from persuading myself that my good fortune would gain for this act your Majesty's kindly regard, which, coming to the knowledge of your loyal vassals, will be received with the utmost satisfaction, and as a proof of your paternal affection and your sincere desire for their advancement. I entreat our Lord that He will grant you all success and prosperity, and a long life, in order that these realms may enjoy for very many years the felicitous rule which the nation ought to expect from the distinguished qualifications possessed by your Majesty, from which it hopes to become more glorious than ever. Prologue to the Reader Commerce is contemporaneous with human society, from whose necessities it was born. [The author here sketches the origin and development of commerce among civilized nations, and states how in his undertaking this work he received the approval of the late king of Spain Fernando VI.] Commerce of the Philipinas Islands; the benefit and advantages which the said islands ought to yield to his Majesty (whom may God preserve). [This will seem] a strange statement when it is considered that the Philipinas Islands since the year 1565 have caused to España every year a very great expense, without affording the least temporal advantage; and when I now try to demonstrate the advantage and benefit of them to the crown of España some will say that it is already time to stop; and others will ask, "Who is this newcomer [63] who so boldly tries to persuade us that the Spaniards have neglected their duty for one hundred and ninety-two years?" But so it is, and now is the time to warn them of this neglect; and, although ignorance attempts to prevent this, it shall not make me desist from the undertaking. I desire that his Majesty (whom may God preserve) may have positive knowledge of the treasure which he possesses in the Philipinas Islands; and I am undertaking to place before his Majesty plain and clear evidence that they can and ought to furnish very great profit, and maintain themselves from their own products. I make no pretensions as an author, nor do I claim to have the ability for that; therefore let us lay aside panegyrics, which are so unprofitable; for, even if this little work deserves them, that does not comport with my purpose, which is simply the service of his Majesty and the advancement of his realms.