This is the Codex Mendoza, made in the 1540s, which tells the story of the Aztecs.
The man depicted is a ruler, Tiçoçicatzin (in modern writing the name seems to be Ttizocicatzin or Tizoc). And the text says:
“Esta rodela y flechas significan instrumentos con que conquistaron los pueblos contenidos en el circuito de esta plana”
@Tomisimo: It was really hard to figure the words out... I spent almost one hour just guessing how to Google it.
@klinkerhoffen: Ancient codices aren't easy, because you need training to read them and interpret them properly. If you need this for professional purposes, you may try contacting anthropologists specialized in Aztec civilizations at your national universities. Academics are often more than happy to share their work.
