Note 15 — Chapter V
Reading edition
Dr. Robertson, preferring the authority, it seems, of Diaz, speaks of the value of the treasure as 600,000 pesos. (History of America, vol. ii. pp. 296, 298.) The value of the peso is an ounce of silver, or dollar, which, making allowance for the depreciation of silver, represented, in the time of Cortés, nearly four times its value at the present day. But that of the peso de oro was nearly three times that sum, or eleven dollars sixty-seven cents. (See ante, Book II. chap. 6, note 18.) Robertson makes his own estimate, so much reduced below that of his original, an argument for doubting the existence, in any great quantity, of either gold or silver in the country. In accounting for the scarcity of the former metal in this argument, he falls into an error in stating that gold was not one of the standards by which the value of other commodities in Mexico was estimated. Comp. ante, vol. i. p. 161.