Page:Mexico in 1827 Vol 1.djvu/142

116, the trade with Peru was opened to the French; and many Americans are of opinion, that, to this temporary enjoyment of the sweets of foreign intercourse, the present revolution may be traced. At the peace of Utrecht, (1713,) Great Britain, with the Asiento, (or contract for the supply of slaves,) obtained a direct participation in the American trade, in virtue of the permission, which was granted her, to send a vessel of five hundred tons annually to the fair of Portobello. This privilege ceased with the partial hostilities of 1737, but Spain found herself compelled on the restoration of peace, in 1739, to make some provision for meeting that additional demand, which this comparatively free communication with Europe had created. Licenses were granted with this view to vessels, which were called registered ships, and which were chartered during the intervals between the usual periods for the departure of the galleons. In 1764, a farther improvement was made, by the establishment of monthly packets, to the Havana, Portorico, and Buenos Ayres, which were allowed to carry out a half cargo of goods. This was followed, in 1774, by the removal of the interdict upon the intercourse of the Colonies with each other; and this again, in 1778, by what is termed the decree of Free Trade, by which seven of the principal ports of the Peninsula were allowed to carry on a direct intercourse with Buenos Ayres, and the South Sea.