By Royal Decree dated October 27, 1720, and published in Mexico by the Viceroy on February 15, 1724, the following was enacted, viz.:--That in future there should be two galleons per annum, instead of one as heretofore, carrying merchandise to Acapulco, each to be of 500 tons. That the merchandise sent in the two was to be of the value of P300,000 precisely in gold, cinnamon, wax, porcelain, cloves, pepper, etc., but not silks, or stuffs of any kind containing silk, under pain of confiscation, to be allotted in three equal parts, namely, to the Fiscal officer, the Judge intervening, and the informer, and perpetual banishment from the Indies of all persons concerned in the shipment. That the number of Manila merchants was to be fixed, and any one not included in that number was to be prohibited from trading. No ecclesiastic, or professor of religion, or foreigner could be included in the elected few, whose rights to ship were non-transferable. That if the proceeds of the sale happened to exceed the fixed sum of P600,000, on account of market prices being higher than was anticipated, only that amount could be brought back in money, and the difference, or excess, in goods. [If it turned out to be less than that amount, the difference could not be remitted in cash by Mexican merchants for further purchases, the spirit of the decree being to curtail the supply of goods from this Colony to Mexico, for the benefit of the Spanish home traders. The infringer of this regulation was subject to the penalties of confiscation and two years' banishment from the Indies.] By Royal Decree of the year 1726, received and published in Manila on August 9, 1727, the following regulations were made known, viz.:--That the prohibition relating to silk and all-silk goods was revoked. That only one galleon was to be sent each year (instead of two) as formerly. That the prohibition on clothing containing some silk, and a few other articles, was maintained. That for five years certain stuffs of fine linen were permitted to be shipped, to the limit of 4,000 pieces per annum, precisely in boxes containing each 500 pieces. The Southern Spanish traders in 1729 petitioned the King against the Philippine trade in woven goods, and protested against the five-years' permission granted in the above decree of 1726, declaring that it would bring about the total ruin of the Spanish weaving industry, and that the galleons, on their return to the Philippines, instead of loading Spanish manufactures, took back specie for the continuance of their traffic to the extent of three or four millions of pesos each year. The King, however, refused to modify the decree of 1726 until the five years had expired, after which time the Governor was ordered to load the galleons according to the former decree of 1720.