Asiento

The Spaniards did not practice the Traite négrière directly; they had made the choice entrust this one to other countries (Portugal, Holland, France, England etc), the opening of this right being done against the payment of a royalty. This practice is called the asiento . The other European powers did not have recourse to this practice.

The asiento has in fact has a broader direction in Spanish public law. The asientos of Spanish monarchy relate to all the aspects of the economic life of the country. It is actually about a public service contract in which a private individual or a company is committed achieving in the place of the State a public service in exchange of a right. It is possible to resell or sub-contract part of this privilege. There thus exist asientos for all types of colonial produce, but the asiento of the slaves, intended to provide the Latin America in labor, is most important by far. Indeed the importance of this market explains competition between the large European companies to hold this privilege with XVIIe and XVIIIe century.

Beginnings of the asiento

Charles Quint authorized officially the importation of the Blacks for the colonies of America 1518. It envisaged a state monopoly and concessions with the private individuals.

Portugal

Initially, a asiento was a concession or a specific sale with a private individual. The Portugal which was a maritime power of foreground and the Master of principal African foreign posts, was the first country to be profited from the asiento .

Holland

It took over Portugal and preserved the asiento until the end of the 17th century.

France

Philippe V of Spain conceded the asiento with Louis XIV in 1701. The kingdom of France preserved it until in 1713. The French Company of Guinea which had in load the asiento , had as shareholders of financial of foreground like Samuel Bernard and Crozat as well as tradesmen inhabitants of Saint Malo.

England

The treaties of Utrecht of 1713 made to England the absolute mistress of the seas. The British crown obtained the monopoly of the asiento which it resold at once with the Compagnie of the South Seas. this one ensured the asiento of 1713 1759. Among the shareholders of the Company one found all the Establishment English.

Basque

The asiento was entrusted to a group of Basque tradesmen of 1765 with 1779.

end of the asiento

The extremely important investments that required the triangular trade, coupled to a bad management of the large companies make that the asiento is not really any more profitable as from the years 1720. One attends thus with a general easing of the commercial monopolies, and a rise of private initiatives. Smuggling, increasingly important, puts at evil the system. In 1817, the Spain has adhered already to abolition Traite blacks what marks the official end of the Asiento, in disuse for several years.

See too

Treats blacks, triangular Commerce, Esclavage, Servage

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