Page:Vol 3 History of Mexico by H H Bancroft.djvu/676

656 This duty was established in the Indies royal cédula of the 5th of February, 1504, and was payable by all vassals and residents in the domains of the crown. In order to secure the collection of this tax an inspector of mines was appointed at an early date, and in 1528 royal officers were required to be present at the smelting of gold. This fifth on gold was found in some instances to be discouraging to mining enterprises, and the king caused it temporarily to be reduced to one tenth, which concession was extended from time to time. After a variety of changes the tax was reduced in the last half of the eighteenth century ta three per cent on gold, and eleven per cent on silver. This caused a considerable increase to the revenue, and in the twenty-five years from 1765 to 1789 inclusive, the amount collected was $43,041,468.

Almost contemporaneous with the establishment of the royal fifth impost was that of the Indian tribute. The surrender of Montezuma to the crown of Castile made both him and his former subjects vassals of the king of Spain, and indeed that unfortunate monarch sent valuable presents to Cárlos V. in token of his recognition of him as his sovereign.