10. All the silk which our company will put on the market will diminish the amount sold by the foreigners; and if they have not a market for this commodity they will take on smaller cargoes of it in China, Cochinchina, Canton, Tonquin, Tripara, Bengala, and Achem, and the said company will find it easier to purchase the silk. Before the nations of Europe carried away the silk from Canton, it could be bought at very low prices; but since they began to carry on this commerce--which was in the year 1685, in which the emperor of China opened his ports to all nations--up to the present time, the prices have risen more than three hundred per cent, as some merchants of this city have informed me. 11. In the six years that I have spent in Manila, the [price of] silk has risen every time; and because so much was being sent out of the country [of China], the emperor forbade, under the most rigorous penalties, the exportation of this product--of which an enormous amount is consumed in his empire, where it was already becoming scarce in the year 759--that it might be used by his vassals, whom he regards with the most extraordinary affection. 12. Finally, when the merchants of Cadiz become shareholders in the said company there will be no more talk of the export of silver by way of Acapulco, or of the injury to our manufactures from the fabrics of China; or the only ones who will cry out against it will be the foreigners connected with the said commerce [of Cadiz], when their names are made known, for they will not [then] have Spaniards to talk, as the saying is, "through a goose's mouth." If it shall be considered expedient (as it seems to me it is) that the aforesaid company may ship freely, and without any restriction, such wares as it shall think best to the kingdom of Nueva España, the royal duties can be so adjusted that the royal treasury will not suffer a great loss, under the certainty that the goods of the said commercial company will all be duly registered, as also the silver which they bring in return; for its directors will possess no authority for anything except what is according to the rules in the like method of commerce. This legality in the declarations [of goods shipped] will result in great benefit to the aforesaid royal duties, even though these be more moderate than the duties which are exacted from private persons whose greed for gain urges them to convey, and to bring [here], many contraband articles.