but a life-interest in the encomienda. Will your Majesty have this considered and provide accordingly, considering the extreme importance of it.
Your Majesty's treasury is greatly embarrassed, as I have noted in the letter pertaining to the royal finances. It occurs to me to declare here what may be done in this regard, should it appear best to your Majesty. The Chinese who come here to trade every year bring eight hundred thousand pesos and sometimes more than a million. During the ten days they spend here they gain more than a hundred per cent; and this year, according to the universal opinion, fully two hundred per cent. They find plenty of money and sell as they would in their own land. Each outgoing ship pays as anchorage five hundred pesos and the duties that are paid to your Majesty are only three per cent, as imposed by Don Juan Rronquillo. If your Majesty would increase the duties by another three per cent, it would not hurt them to pay that amount, and your Majesty's royal treasury would receive much relief thereby. The goods brought by these heathen Chinese are silks of little cost and value, the scum of what they have; and they take back in return gold and silver.
I humbly beseech your Majesty in respect to this point, as to all my other suggestions, to accept so much as may be best for the royal service, which my zeal but desires to further. May our Lord preserve your Majesty for many long years, as we your Majesty's servants and vassals need. Manila, June 19, 1598.Don Francisco Tello
Sire:
The report which by your royal instructions your
