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- W162105178 abstract "In 1713 England acquired the asiento contract to supply Spain's Americancolonies with 4,800 slaves annually and assigned the privilege to the South SeaCompany. In compensation for expected losses in the slave trade, the Companywas permitted to carry on an extensive trade in merchandise which competed withthe traditional outlets for British trade to America. This need to rely onforeign contractors to supply slaves to the American colonies offered a threatto Spain's trading monopoly it was further eroded by the presence of Britishmerchants residing at strategic ports throughout America trading in largequantities of contraband slaves and merchandise in addition to Company trade.Although the Spanish government took numerous steps to impede the Company'strade including the seizure of all Company property during the wars of 1718, 1727and 1739 they were never able to convince the Company to relinquish the asientofor an agreed compensation. When the Company finally ceased trading at thebeginning of the War of Jenkins' Ear, it was mainly because of dwindlingreturns and a new political environment in England. Although the treaty ofAix-la-Chapelle which ended the war, provided for the Company to continuetrading for another four years, it was in no position to resume the trade.Company agents had all returned to England at the beginning of the war and aftera severe financial loss the directors concentrated on obtaining compensation.In 1750 the asiento contract was terminated and the South Sea Company paid£100,000 to cover their losses in the trade." @default.
- W162105178 created "2016-06-24" @default.
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- W162105178 date "1975-01-01" @default.
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- W162105178 title "British Trade with Spanish America Under the Asiento 1713-1740" @default.
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