A Genoese banking-house, having made him large advances to help equip the great Armada for the invasion of England, obtained the next monopoly (1580).

During the course of the seventeenth century the privilege of introducing African slaves into the Antilles was sold successively to Genoese, Portuguese, Holland, French, and Spanish companies.  The traffic was an exceedingly profitable one, not so much on account of the high prices obtained for the negroes as on account of the contraband trade in all kinds of merchandise that accompanied it.  From 1613 to 1621 during the government of Felipe de Beaumont, 11 ship-loads of slaves entered San Juan harbor.

During the eighteenth century the traffic expanded still more.  To induce England to abandon the cause of the House of Austria, for which that nation was fighting, Philip V offered it the exclusive privilege of introducing 140,000 negro slaves into the Spanish-American colonies within a period of thirty years; the monopolists to pay 33-13 silver crowns for each negro introduced, to the Spanish Government.[66]

War interrupted this contract several times, and long before the termination of the thirty years the English ceased to import slaves.

Several contracts for the importation of slaves into the Antilles were made from 1760 to the end of the century.  First a contract was made with Miguel Uriarte to take 15,000 slaves to different parts of Spanish America.  In 1765 the king sanctioned the introduction by the Caracas company of 2,000 slaves to replace the Indians in Caracas and Maraeaibo, who had died of smallpox.  All duties on the introduction of negroes into Santo Domingo, Cuba, Puerto Rico, Margarita, and Trinidad were commuted in the same year for a moderate capitation tax, and the Spanish firm of Aguirre, Aristegui & Co. was authorized to provide the Antilles with negroes, on condition of reducing the price 10 pesos per head, besides the amount of abolished duty.

This firm abused the privileges granted, and the inhabitants of all the colonies, excepting Peru, Chile, and the Argentina, were allowed to provide themselves, as best they could, with slaves from the French colonies while the war lasted (1780).

Four years later, January 16, 1784, a certain Lenormand, of Xantes, received the king’s permission to take a ship-load of African slaves to Puerto Rico on condition of paying 6 per cent of the product to the Government.

In this same year the barbarous custom of branding the slaves was abolished.

The abominable traffic was declared entirely free in Santo Domingo, Cuba, and Puerto Rico by royal decree, February 28, 1789.  Foreign ships were placed under certain restrictions, but a bounty of 4 pesos per head was paid for negroes brought in Spanish bottoms, to meet which a per capita tax of 2 pesos per head on domestic slaves was levied.