same year, and copper money introduced. This latter innovation was almost ludicrous in its operation. The new pieces of despised copper were held in contempt by the natives,[1] and they refused to receive them. They would sell their small articles of manufacture or a measure of maize for a few cacao beans, but not for an ill-shaped bit of copper with a mark on it. The circulation of the coin was, however, enforced by the viceroy. But though by stringent measures the Indian could be compelled to take in trade the objectionable medium, he could not be made to keep such a symbol of poverty,[2] and he cast it from him. He threw it into the gutters and hurled it into the lake that it might never more be seen, and in a year or two the natives succeeded in getting rid of more than one hundred thousand pesos' worth of the offensive trash.[3]
During the decade 1541 to 1550, more suitable denominations were put into circulation, but the amount coined does not appear to have been sufficient to meet the requirements of the increase in trade and commerce, and both Spaniards and Indians purchased goods with unstamped bullion and gold dust. This practice was prohibited by royal cédula of the 16th of
- ↑ Hacian burla de tan baxa cosa.' Torquemada, i. 614.
- ↑ Diciendo que hera muestra de mucha pobresa.' Panes, Vireyes, in Mon. Dom. Esp., MS., 81.
- ↑ Ibid. Torquemada says, 'y se perdieron, segun se dixo, mas de docientos mil Pesos de valor. . . en esta Laguna de Mexico, porque jamàs pareciese.' i. 614. Fuenleal had foreseen that the introduction of copper coin would meet with opposition, and in his letter of April, 1532, to the king, offered the advice that no moneda de vellon should be coined. Pacheco and Cárdenas, Col. Doc., xiii. 217-18. About the year 1540 or 1541, the circulation of copper coinage had entirely ceased, Cavo, Tres Siglos, i. 131, and an attempt was made to supply its place by that of the silver cuartillo, or fourth oart of a real. The insignificant size of these coins made them as objectionable as their more bulky predecessors. But instead of being all thrown away, quantities of them were collected, melted, and cast into bars. Torquemada, i. 614. They were again coined in 1794. Disposic. Varias, i. 86.
Varias, i. 39. A royal order of November 1537 provided that silver pieces of eight, four, two, one, and one half reales should be coined in the same manner as in Spain. Recop. de Ind., ii. 88. In 1538 the value of the real de plata was fixed at 34 maravedis, the standard of the Spanish coin, Recop. de Ind., ii. 94, and in 1544 it was ordered that all silver pieces should contain the same alloy, have the same value, weight, size, and impression as those coined in Spain. Id., ii. 89. Money coined in any part of the Indies was made current in other parts of Spain. Id., 94.
