Note (return) — Chapter XII · VOYAGE ROUND THE WORLD, BY CAPTAIN GEORGE SHELVOCKE, IN 1719-1722. (continued 2)

On the whole, though a very great part of the enormous extent of the Spanish dominions in South America be absolutely desert, and the people in some of the inhabited parts do not acquire large fortunes, yet the Spanish settlers in Chili certainly procure immense riches yearly, as the country is but thinly inhabited, and all the gold drawn from the mines and lavadores must be divided among them. It is evident, however, that the greater part of the inhabitants do not abound in wealth. Those among them who deal in cattle, corn, and the other productions of the country, only acquire moderate fortunes; and those who are concerned in the mines are frequently ruined by launching out into unsuccessful speculations, and by expensive living. Those who are easy in their circumstances, and retire to the city of St Jago, Jago, live in such a manner as sufficiently demonstrates the riches of Chili; as all their utensils, even those of the most ordinary sort, are of pure gold, and it is believed that the wealth of that city cannot fall short of twenty millions.8 Add to this, the gold-mines are continually increasing, and it is only for want of hands that they are not wrought to infinitely more advantage; for those already discovered and now neglected, would be sufficient to employ 40,000 men. It may also be observed, that the frauds practised against the royal revenue are increasing daily, and, as the riches of the Spanish West Indies are measured by the amount of the royal revenue, this must make them appear poorer than they are in reality. We have one instance of this in the mines of Potosi, which are said to produce less silver than they did formerly; yet, on a computation for fifty years, the annual revenue to the king has amounted, on the average, to 220,000 pesos, of thirteen rials and a quarter yearly, which shews that the annual produce of these mines, so far as it has paid the royal duty, amounts nearly to two million pieces of eight, or dollars, and it may be confidently asserted that the royal treasury does not receive above half of what is due: wherefore, from this example, the rest may be judged of.