Note 9 — Spanish Insular Government

Eusebio Mazorca further states:9—“The Governor receives payment of the tribute in rice-paddy, which he credits to the native at two reales in silver per caban. Then he pays this sum into the Royal Treasury in money, and sells the rice-paddy for private account at the current rate of six, eight or more reales in silver per caban, and this simple operation brings him 200 to 300 per cent. profit.”