Law V
We ordain and order that there shall be no permission to trade or traffic between Perú, Tierra-Firme, Guatemala, or any other parts of the Indias, and China or the Filipinas Islands, even though it be by license of the viceroys, audiencias, governors, or magistrates, under penalty of confiscation of the merchandise that shall be shipped. The masters and pilots shall also incur the confiscation of all their property and ten years in the galleys. [Felipe II—San Lorenzo, December 18, and February 6, 1591.]
Law I
Inasmuch as it is advisable to avoid trade between the West Indias and China, and regulate that of Filipinas, as it has increased considerably, thus causing the decrease of that of these kingdoms: therefore, we prohibit, forbid, and order, that no person of the natives or residents of Nueva España, or any other part of the Indias trade or be allowed to trade in the Filipinas Islands. Should anyone do so, he shall lose the merchandise with which he shall trade, and it shall be applied, one-third each, to our royal exchequer, the denouncer, and the judge who shall sentence him. In order to show favor to the citizens and inhabitants [of Filipinas] and that that trade may be preserved to sufficient extent, we consider it best that they alone may trade with Nueva España, in the manner ordained by the other laws, with this provision, that they convey their goods, or send them with persons who shall come from the said islands. They cannot send them by way of commission or in any other form to those who actually reside in Nueva España, in order to avoid the frauds of consigning them to other persons—unless it be because of the death of those who should come with the goods from the said islands; for in such case it can be done. And we also order that the inhabitants of Filipinas cannot consign their merchandise to generals, commanders, captains, officials, soldiers, or sailors of the vessels of that commerce, or of any other vessels, even though these be inhabitants of the said islands as well as the persons above mentioned.[3] [Felipe II—Madrid, January 11, 1593. Felipe IV—Madrid, February 10, 1635.]
Law VI
It is our will that the trade and commerce of the Filipinas Islands with Nueva España be carried on for the present as ordained. Under no consideration shall the amount of merchandise shipped annually from those islands to Nueva España exceed two hundred and fifty thousand eight-real pieces, nor the return of principal and profits in money, the five hundred thousand pesos which are permitted—under no pretext, cause, or argument that can be advanced, which is not expressed by a law of this titulo; and the traders shall necessarily be citizens of the Filipinas, as is also ordained. [Felipe II—Madrid, January 11, 1593. Felipe III—December 31, 1604; Madrid, May 4, 1619; Lisboa, September 14, 1619.]