In November 1769, the Portolá expedition discovered San Francisco Bay before returning to San Diego. A second trip in 1770 led to the establishment of the Presidio of Monterey and Mission San Carlos Borromeo de Carmelo (Mission Carmel). Although Gálvez — in arguing for his plan to expand into San Diego and Monterey — had projected that Alta California would eventually prove a great source of revenue for the Spanish crown, the region wound up running an annual deficit during most of its years under Spanish rule.