This picture peremptorily indicates the greatest virtue of the ruler- After the annexation of the kingdom of Portugal and its colonies, Philip ruled over a territory that also extended to South America and the provinces of Asia. 
The king, to whom the world was not enough (in fact his motto was Non sufficit Orbis), also showed clemency towards the subject peoples. With his ordinances that set out the new vision of colonial Spain, he had banned slavery and recognised the rights of the natives.