In a 1672 summary of the original purpose for the establishment of an audiencia in Buenos Aires, the government of Carlos II (1661–1700) wrote that, in 1660, reports “were being received from England and Holland about how much the vassals of those states were engaged in commerce with the Ports of the Indies and particularly with that of Buenos Ayres.” These reports included the information concerning “the great returns of silver that they [the English and Dutch] gained from the exchanges that they carried out, and about the growing profits that they were having due to the tolerance of the Governors; each day the excess was becoming greater.” Referring to the situation in the early 1660s, the summary continued, “It was recognized that where the most excess had occurred had been Buenos Ayres, during the time that Pedro de Baygorri governed that city.” Under Baygorri’s governorship, “there had been many English, French, and Dutch ships … admitted, introducing goods to Spaniards and carrying away great sums of silver … extracted at the mines of Potosí.” Finally, it was estimated that “There was imported more than twelve million pesos in merchandize on which were paid very little taxes for the Royal Treasury but great sums to the Governors on the pretext of permitting ship repairs, all very malicious.…”