As they continue to sell the other galleons and to build more, we must have merchants who are interested in buying them and in sending them away on voyages; thus conditions will finally come to be like those in the Northern Sea, and the great expense which your Majesty incurs in those islands will cease; and ships will be built in the Philipinas, which will cost but little.

It may be a means of profit to your Majesty's royal exchequer to continue selling ships to the merchants.

This has been demonstrated by experience; for the man who bought the galleon "Sant Martin" has offered to keep it on this route as long as it will hold together--as also another vessel, of two hundred toneladas.

This offer is accompanied with certain conditions, as your Majesty will see from the petition which he presented to me, which accompanies this letter.

Since he demands various things of importance, and some others which concern his own profit, they should be carefully considered.