Los mercaderes de México y la transgresión de los límites al comercio pacífico en Nueva España, 1550–1620

The constant state of war which dominated the reign of Philip II and part of Philip III'S exerted a growing fiscal demand both on Castile and the American Colonies. The American treasure which opened the doors to credit to finance these campaigns increased substantially over the 17th century. Never the less, the merchants, which controlled the extraction of precious metals and their shipments to the metropolis, established a highly lucrative trade with the Peru and the Philippines which created a constant drain of silver to the Far East. Based on the complaints filed by the Consulado de Sevilla about the competition of Chinese goods and the loss of American silver, the Monarch imposed heavy restrictions on the triangular trade in the Pacific. These restrictions created conflicts with the American viceroys who were interested in this trade and resulted in the generalization of smuggling.