Part of the Moros are defeated on the coast of Panay, but they meet with enough success to embolden them to make further raids; these go unpunished by the Spaniards, and thus the islands are being devastated and ruined.

The Christian and friendly Indians are at the mercy of these cruel foes, from whom the Spaniards do not defend them; accordingly, they demand freedom and arms, that they may defend themselves against the invaders.

All would revolt, were it not for the influence of the missionaries, especially the Jesuits.
Los Rios makes complaint of the apathy, negligence, and blunders exhibited by the governors of the islands in regard to their defense from so many enemies, supporting his position with detailed accounts of the damages thereby suffered in raids by the Dutch and Moros, and failures to achieve success that was within the grasp of the Spaniards.
In the second part, Los Rios discusses "the importance of the Filipinas, and the means for preserving them." He enumerates the reasons why the crown of Spain should keep the islands, indicating a curious mixture of worldly wisdom and missionary zeal; and refutes the arguments of those persons who advocate the abandonment of the Philippines, or its transfer to Portugal in exchange for Brazil.

Los Rios explains at length the desirability of retaining Manila, and its importance and desirability as a commercial and military center, and a check on the ambition of the Dutch.

He then asserts that the money sent to the islands by the Spanish government is mainly expended not on the Philippines, but for the defense of the Moluccas; and he enumerates the resources of the former, which but for that diversion would support them without aid from the crown.