Note 40 — Part II

29. In order not to be prolix in relating other advantages which the companies in general possess, as compared with the commerce of private persons, I refer to those which are set forth by the distinguished Don Miguel Zavala (in his celebrated memorial40 to Phelipe V of blessed memory), whose authority alone would be sufficient in order that no means should be neglected for establishing the aforesaid company in these islands; and I pass to other advantages which the said author explains. But first I will point out what relates to the fortunes in the Indias, which do not pass to the grandsons; this is accounted for by the vicious way in which the creoles, as a rule, are reared—the indolence and vices in which they are brought up, and the luxury and prodigality to which they are accustomed from childhood. If these fortunes, or the greater part of them, were [invested] in the company, they would not be so easily wasted; and, even if the sons should save nothing from the profits, they would keep the principal which their fathers might bequeath to them in the aforesaid company. Or, in case there were some persons so reckless as to sell their shares, others would buy these, and the commerce and its gains would always remain for the benefit of the Spaniards.