28.  The manner in which the gold and silver of Peru is distributed amongst all the people of Europe, and from thence is sent to the East-Indies, is a surprising, though well-known circumstance.  By a strict law enacted by Ferdinand and Isabella, and afterwards confirmed by Charles V. and all the kings of Spain, all other nations were not only excluded the entrance into any of the ports in Spanish America, but likewise from having the least share, directly or indirectly, in the trade of that part of the world.  One would have imagined, that this law would have enabled the Spaniards to subdue all Europe; and yet Spain subsists only by the continual violation of this very law.  It can hardly furnish exports for America to the value of four millions; whereas the rest of Europe sometimes send over merchandize to the amount of near fifty millions.

29.  This prodigious trade of the nations at enmity, or at alliance with Spain, is carried on by the Spaniards themselves, who are always faithful in their dealings with individuals, and always cheating their king.  The Spaniards gave no security to foreign merchants for the performance of their contracts; a mutual credit, without which there never could have been any commerce, supplies the place of other obligations.

30.  The manner in which the Spaniards for a long time consigned the gold and silver to foreigners, which was brought home by their galleons, was still more surprising.  The Spaniard, who at Cadiz is properly factor for the foreigner, delivered the bullion he received to the care of certain bravoes, called Meteors:  these, armed with pistols at their belt, and a long sword, carried the bullion in parcels, properly marked, to the ramparts, and flung them over to other meteors, who waited below, and carried them to the boats which were to receive them, and these boats carried them on board the ships in the road.  These meteors and the factors, together with the commissaries and the guards; who never disturbed them, had each a stated fee, and the foreign merchant was never cheated.  The king, who received a duty upon this money at the arrival of the galleons, was likewise a gainer; so that properly speaking, the law only was cheated; a law which would be absolutely useless if not eluded, and which, nevertheless, cannot yet be abrogated, because old prejudices are always the most difficult to be overcome amongst men.

31.  The greatest instance of the violation of this law, and of the fidelity of the Spaniards, was in the year 1684, when war was declared between France and Spain.  His Catholic majesty endeavoured to seize upon the effects of all the French in his kingdom; but he in vain issued edicts and admonitions, enquiries and excommunications, not a single Spanish factor would betray his French correspondent.  This fidelity, which does so much honour to the Spanish nation, plainly shews, that men only willingly obey those laws which they themselves have made for this good of society, and that those which are the mere effects of a sovereign’s will, always meet with opposition.