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  into revenue, you should find a manner in which their tributes can be paid by converting all those things into a certain quantity of gold or silver yearly. This should be accomplished in such a manner that it increases Our revenue but not their labor, and since this is a very important matter, you should place great care in it, listing what they pay in tribute presently and what Our officials get for it when they sell it or use it in payment, and what its value would be if commuted to gold or silver; and you should send this list along with your report on the first ship to come...
Also, We are informed that in many places in the said province there are large and wealthy mines of gold, silver, and other metals, and that in addition to the fifths paid by private individuals who mine them with Our license and permission, We could increase Our revenues greatly if Our officials in the said mines purchased for Us a large number of slaves, either blacks or people purchased from the Indians who are held and reputed to be slaves. And because this is a matter of great importance and We could receive great benefit if it is correct.
 Document 5:
Source: Earl J. Hamilton, “Imports of American Gold and Silver into Spain, 1503- 1660.” The Quarterly Journal of Economics. 1929
SPAIN’S GOLD AND SILVER IMPORTS FROM THE AMERICAS, 1503-1660
25 20 15 10
5 0
              1503–1520
1521–1540 1561–1580 1601–1620 1641–1660
Period of Time
1541–1560
1581–1600
1621–1640
UNIT 1 REVIEW: RENAISSANCE AND ExPLORATIONC. 1450 TO C. 1648 85
Millions of Pesos




















































































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