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bim; s) and that probity, which is the p atd diflinction of the nation, contributes to

: ruin. In a scort time, not above a twende par: of the commodities exported to Ames was Jr Spanish growth or fabrick. t) All ther, 2 25 the property of foreign merchants

, the entered in the name of Spaniards. The treaks of the New World may be said henceforwa Bot to have belonged to Spain, Before it reas ed Europe, it was anticipated as the poi of goods purchased from foreigners

. That went which, by an internal circulation, would bar spread through each vein of induftry, and live conveyed life and activity to every branch i manufacture, flowed out of the kingdom vi such a rapid course, as neither enriched a animated it. On the other hand, the articu of rival nations, encouraged by this quick is ni their commodities, improved so much in li

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ing her American treasures vanish almost as soon as they were imported, that Philip III. unable to supply what was requisite in circulation, issued an edict , by which he endeavoured to raise copper money to a value in currency nearly equal to that of silver; u) and the lord of the Peruvian and Mexican mines was reduced to a wretched expedient, which is the last resource of petty impoverished states.

Thus, the poflessions of Spain in America have not proved a source of population and of wealth to her, in the same manner as those of other nations. In the countries of Europe, where the fpirit of industry subfifts in full vigour, every person fettled in such colonies as are similar in their situation to those of Spain, is supposed to give employment to three or four at home in supplying his wants. x) But wher: ever the mother-country cannot afford this supply, every emigrant may be considered as a citizen lost to the community, and strangers must reap all the benefit of answering his demands.

increased by the modelof regulating its intercourse with American

azd industry, as to be able to afford then e a rate fo low, that the manufactures of Spain which could not vie with theirs, either in qua lity or cheapness of work, were still faria deprelled. This destructive commerce draivel of the riches of the nation faster and more conpetely, than even the extravagant schemes of undition carried on by its monarchs, Spar as so much aftonished and distrelled, at behold

Such has been the internal ftate of Spain from the close of the sixteenth century, and such her inability to supply the growing wants of her colonies. The fatal effects of this disproportion

u) Uztariz, C. 104.

:) Zavala Representacion, p. 276.

x) Child on trade and colonies,

Campomanes, ii. 138.

between their demands, and her capacity of answering them, have been much increased by the mode in which Spain has endeavoured to regulate the intercourse between the mother-country and the colonies. It is from her idea of monopolizing the trade with America, and des barring her fubjects there from any communication with foreigners, that all her jealous and systematick arrangements have arisen. These are so fingular in their nature and consequences, as to merit a particular explanation. In order to fecure the monopoly at which she aimed , Spain did not veft the trade with her colonies in an exclusive company,

a plan which had been adopted by nations more commercial, and at å period when mercantile policy was an object of greater attention, and ought to have been better understood. The Dutch gave up the whole trade with their colonies, both in the East and Weft Indies, to exclusive companies. The English, the French, the Danes, have imitated their example with respect to the East Indian commerce; and the two former have laid a fimilar restraint upon some branches of their trade with the New World. The wit of man cannot, perhaps, devise a method for checking the progress of industry and population in a new colony more effectual than this. The interest of the colony, and of the exclusive company, must in every point be diametrically opposite; and as the latter poflelles such adyan

and as the latter poflelles such adyano

tages in this unequat conteft, that it can prema fcribe at pleasure the terms of intercourse, the former must not only buy dear and fell cheap, but must suffer the mortification of having the increase of its furplus stock discouraged by thofe very persons to, whom alone it can difpofe of its productions. y)

This confined to one port in Spain,

! between their demands, and her capacity l

answering them, have been much increased ly the mode in which Spain has endeavoured to me gulate the intercourse between the mother-colli try and the colonies. It is from her ideed monopolizing the trade with America, and do tarting her fubje&s there from any communication with foreigners, that all her jealous 200 {ytematick arrangements have arisen. Thelewe fu fingular in their nature and consequences

, to merit a particular explanation. In order di fecure the monopoly at which she aimed, Spain did not veft the trade with her colonies in exclusive company, a plan which had beat adopted by nations more commercial, and 2!1 period when mercantile poliey was an of greater attention, and ought to have bent tetter understood. The Dutch gave up the whole trade with their colonies, both in the Erft and Weft Indies, to exclusive companies The English, the French, the Danes, bare imitated their example with respect to the bat

obje

Spain, it is probable, was preserved from falling {into this error in policy, by the high ideas which she early formed concerning the riches of the New World. Gold and silver were commodities of too high value to veft a monopoly of them in private hands. The crown wished to retain the direction of a commerce fo invite ing; and, in order to secure that, ordained the cargo of every Chip fitted out for America, to be inspected by the officers of the Cafa de Cone tratacion in Seville, before it could receive a licence to make the voyage; and that on its return, a report of the commodities which it brought should be made to the fame board, before it could be permitted to land them. In consequence of this regulation, all the trade of Spain with the New World centred in the port of Seville, and was gradually brought into a form, in which it has been conducted, with little variation, from the middle of the fixteenth

Indian commerce; and the two former haveli i fimilar reftraint upon fome branches of their Tade with the New World. The wit of an annot, perhaps, devise a method for checking he progress of industry and population in i ew colony more effectúal than this. The is. rest of the colony, and of the exclusive cota any, muft in every point be diametrically op

y) Smith's laquiry, ilo 121.: ,

lite;

century almost to our own times. For the greater security of the valuable cargoes sent to America, as well as for the more easy prevention of fraud, the commerce of Spain, with its colonies, is carried on by fleets which fail under strong convoys. These fleets consisting of two squadrons, one distinguished by the name of Galeons, the other by that of the Flota, are equipped annually. Formerly they took their departure from Seville ; but as the port of Cadiz has been found more commodious, they have failed from it since the year 1720, ....

: Carried on by the Galeons. 'n i The Galeons destined to supply Tierra Firme, and the kingdoms of Peru and Chili, with almoft every article of luxury, or necessary, consumption, that an opulent people can demand, touch first at Carthagena, and then at Porto bello. To the former, the merchants : l of Santa Martha, Caraccas, the New Kingdom of Granada, and several other provinces, refort. The latter is the great mart for the rich.commerce of Peru and Chili. At the season when the Galeons are expected, the product of all the mines in these two kingdoms,. together with their other valuable commodities> is transported by sea to Panama. From thence, as soon as the appear. ance of the fleet. from Europe is announced, they are conveyed across the isthmus, partly on mules, and partly down the river Chagre

to

to Porto bello. This paltry village, whose climåte, from the pernicious union of excessive heat, continual moisture, and the putrid exhalations arising from a rank foil, is more fatal to life than any perhaps in the known world, is immediatelly filled with people. From being the residence of a few negroes and mulattoes, and of a miserable garrison relieved every three months, its streets are crowded with opulent merchants from every corner of Peru, and the adjacent provinces. À fair is opened, the wealth of America is exchanged for the manufactures of Europe ; and, during it's prescribed term of forty days, the richest traffick on the face of the earth is begun and finished, with that fimplicity of transaction and unbounded confidence, which accompany extensive commerce. z)

and the Flota.

The Flota holds its course to Vera Cruz. The treasures and commodities of New Spain, and the depending provinces, which were deposited at Puebla de los Angelos in expectation of its arrival, are carried thither, and the commercial operations of Vera Cruz, conducted in the fame manner with those of Porto bello, inferior to them only in importance and value. Both fleets, as soon as they have completed their cargoes from America, rendezvous at the Havanna, and return in company to Europe. 2) See NOTE LXIV. ROBERTSON Vol. III.

Y

are

nice of the fleet from Europe is announced,

century almost to our own times. For the grear security of the valuable cargoes sent to Amezia as well as for the more easy prevention of fresh the commerce of Spain, with its colonies, i carried on by fleets which fail under from cobroys. These fleets consisting of two iga drons, one diftinguished by the name of Galea the other by that of the Flota, are equige! angally. Formerly they took their departe froth Seville; but as the port of Cadiz haster found more commodious, they have failed to it lince the year 1720.

Carried on by the Galeons,

The Galeons destined to supply Tierra fin and the kingdoms of Peru and Chili, with all erery article of luxury, or necellary

, coblaas tion, that an opulent people can demand, der birft at Carthagena, and then at Porto bello

, 1 the former, the merchants of Santa Maria Caraccas, the New Kingdom of Granada, a several other provinces, resort. The latter's the great mart for the rich commerce of Peru 2 Chili. At the season when the Galeops 27 expected, the product of all the mines in these two kingdoms, together with their other via uable commodities, is transported by ses y Panama. From thence, as soon as the appea

to

ey are conveyed across the isthmus, partly
1 mules, and partly down the river Chagra

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