evaded, in 1636 all commerce was interdicted between New Spain and Peru.[1] A commerce naturally so lucrative as that between the Philippines and New Spain when confined within such narrow limits yielded monopoly profits. It was like a lottery in which every ticket drew a prize. In these great profits every Spaniard was entitled to share in proportion to his capital or standing in the community.[2] The assurance of this largess, from the beginnings of the system, discouraged individual industry and enterprise, and retarded the growth of Spanish population.[3] Le Gentil and Zúñiga give detailed descriptions of the method of conducting this state enterprise[4] after the limits had been raised to $500,000 and $1,000,000 respectively for the outgoing and return voyage. The capacity of the vessel was measured taking as a unit a bale about two and one-half feet long, sixteen inches broad and two feet high. If then the vessel could carry four thousand of these bales, each bale might be packed with goods up to a value of one hundred and twenty-five dollars. The right to ship was known as a boleta or ticket. The distribution of these tickets was determined at the town hall by a board made up of the governor, attorney-general, the dean of the audiencia, one alcalde, one regidor and eight citizens.[5]
To facilitate the allotment and the sale of tickets
- ↑ Ibid., ley lxxviii.
- ↑ Ibid., ley xlv.
- ↑ Morga, p. 344. Zúñiga, i, pp. 271–274. "El barco de Acapulco ha sido la causa de que los espanoles hayan abandonado las riquezas naturales e industriales de las Islas." Ibid., p. 443.
- ↑ Le Gentil, ii, pp. 203–230; Zuniga, i, p. 266 ff.
- ↑ Le Gentil, ii, p. 205; Careri, Voyage Round the World, Churchill's Voyages, iv, p. 477.
