Note XXXI‑20 — Chapter XXXI · PANAMÁ. 1672-1800.

The asiento was to last 30 years, to May 1, 1743. The contractors were to export 4,800 negroes annually and to pay to the crown of Spain 33⅓ escudos for each one; and also to advance his Catholic Majesty 200,000 escudos payable in 20 years. Should more negroes be required, 4,800 extra might be exported, for each of whom 16⅓ pesos were to be paid. Negroes carried to the windward coast were not to be sold for more than 300 pesos each, but there was no limit to price in Tierra Firme or New Spain. No other company was to be allowed to engage in this traffic, and no merchandise could be carried under penalty of confiscation. The ships of the contractors could sail from either British or Spanish Ports. Salmon's Mod. Hist., iii. 219-22.