As usual, Jim is right on this one...
The inscription on both sides of the blade is, indeed, the old Spanish motto that can be found (with orthographic variations) in a wide variety of blades from the 16th c. onwards: "NO ME SAQUES SIN RAZÓN / NO ME ENVAINES SIN HONOR" ("Draw me not without reason / Sheath me not without honour").
Now, what the #@$%&! is it doing in such a blade, is anybody's guess...
Not the calligraphy nor the style of the
koftgari decoration is Spanish, as far as I can tell. Can anyone tell us something about the decoration style? Or maybe about the letters? I think the key of the place of origin of the blade is there.
I must say that the only reason that I can now think for the presence of this inscription would be that it is there to convey both the quality connotations associated to Spanish (Toledo) blades and to add the additional "exotic" value of a piece made in foreign lands ("exotic" being a term absolutely dependant on the location of its user... as it is "Ethnographic", put to think about it...
)
Interesting find, indeed.