But the remedy is not to send thither judges and guards who are not to allow it to pass; for on the contrary, as our experience shows, they go to enrich themselves by the salaries which your Majesty gives them, and the profit which they there make.

For in all countries ill-gained wealth is thus christened.

The silver which goes there is of no less value to the royal exchequer than that which comes here, since the investment of it pays no fewer duties, but more; and at least it comes finally into the hands of our friends, and is not like that which comes to Espana--which for the most part is enjoyed by the enemies of your Majesty; and the fleets go more heavily laden with the enemy's property than with that of your vassals.
The merchants of Sevilla complain that the trade with China has been destroyed by the Indias, but they do not understand the cause of its ruin.

The Marquis de Montesclaros, who governed Nueva Espana and Piru, and understood this matter very well (as he did many things), wrote your Majesty a letter from the Indias, which is in your royal Council, where he says with clear and evident arguments: "But what strikes me is, that as the commonest and most universal means of working the mines is quicksilver, this loss is caused by giving that metal at so high a price to the miners.

For in the first place, as most of them are poor, they cannot buy it, and therefore a great deal of metal is left unworked; and in the second place, because those who are able to buy it cannot work poor mines (for they would be ruined thereby), and as the greater part of those in the Indias are of this kind, double the amount of silver [obtained] is left unmined.