Page:Vol 3 History of Mexico by H H Bancroft.djvu/648

628 from the Peninsula, and trade with foreigners was punishable by death. Even the carrying trade between old and new Spain was forbidden to the settlers, while intercolonial traffic languished under crippling restrictions, or was absolutely prohibited. Foreign articles were imported in such quantities that the demand generally exceeded the supply, thus securing to the shippers enormous prices. Vessels proceeding to and from New Spain were permitted to leave or enter only the port of Seville, and those clearing for a certain port in the Indies were not allowed to touch at any other. In order further to secure the carrying trade and monopoly of commerce the registry of ships was made imperative, and only those thus licensed could convey merchandise to and from the colonies. At first commercial communication with Spain was irregular, a fleet being despatched occasionally to Vera Cruz under the protection of convoys, and distinguished by the term flota.

So closely did the government guard against possible independence of the colonists, in trade that ships' companies were prohibited from purchasing goods of the country, and factors and traders on the fleets were not allowed to remain longer than three years in America. No foreigner could trade with the colonies, nor was one permitted to enter a port without special license. In fact both the prices of imports and exports of New Spain, with the exception of the precious metals, were under the arbitrary control of the merchants of Seville, and later of Cádiz. What further increased the drainage of wealth from America was