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534 opening of several ports on the two seas to commerce, which, if carried out, would have been a great blow to the monopoly Vera Cruz had enjoyed during three centuries. But notwithstanding that law, licit trade was continued only through Vera Cruz and Acapulco. When, however, independence had been achieved, the new government, by decree of December 15, 1821, ratified the decree of November 1820, permitting the free entry of vessels and merchandise from all parts of the world, destroying forever the system of monopoly enjoyed by the Spaniards and Vera Cruz. Other ports were opened at different times. Nevertheless, there were not wanting many who advocated a return to the old system, on the ground that the great importations of foreign goods ruined the home manufacturing industries, and deprived the poor of even their wretched means of livelihood by the introduction of the commonest articles previously made by them, while the influx of foreigners soon wrested the trade of the country from the Spanish capitalists, numbers of whom retired from business in disgust. Flooding the market with foreign merchandise caused a depression in trade, and British and European manufactures were frequently sold at prime cost. In 1821, the exports and imports at Vera Cruz amounted to $17,244,569, in 1823 only to $6,259,209.

The opening of so many ports was soon found to be inconvenient and expensive, and on February 17, 1837, a law was passed reducing their number to ten,