Note 9 — II

Jealousy of Seville monopolists.The merchants in New Spain and Peru found this commerce so advantageous, that the result was very damaging to the exports from the mother country, whose manufactured goods were unable to compete with the Indian cottons and the Chinese silks. The spoilt monopolists of Seville demanded therefore the abandonment of a colony which required considerable yearly contributions from the home exchequer, which stood in the way of the mother country’s exploiting her American colonies, and which let the silver of His Majesty’s dominions pass into the hands of the heathen. Since the foundation of the colony they had continually thrown impediments in its path.9 Their demands, however, were vain in face of the ambition of the throne and the influence of the clergy; rather, responding to the views of that time the merchants of Peru and New Spain were forced, in the interests of the mother country, to obtain merchandise from China, either directly, or through Manila. The inhabitants of the Philippines were alone permitted to send Chinese goods to America, but only to the yearly value of $250,000. The return trade was limited to $500,000.10