"
The streams in the neighborhood of San German, on the south coast, the
only other settlement in the island at the time, seem to have been
equally rich. The year after its foundation by Miguel del Toro the
settlers were able to smelt and deliver 6,147 pesos to the royal
treasurer. The next year the king's share amounted to 7,508 pesos, and
Treasurer Haro reported that the same operation for the years 1517 and
1518 had produced $186,000 in all--that is, 3,740 for the treasury.
A good idea of the island's mineral and other resources at this period
may be formed from Treasurer Haro's extensive report to the
authorities in Madrid, dated January 21, 1518.
" ... Your Highness's revenues," he says, "are: one-fifth of the gold
extracted and of the pearls brought by those who go (to the coast of
Venezuela) to purchase them, the salt produce and the duties on
imports and exports. Every one of the three smeltings that are
practised here every two years produces about 250,000 pesos, in San
German about 186,000 pesos. But the amounts fluctuate.
"The product of pearls is uncertain. Since the advent of the Jerome
fathers the business has been suspended until the arrival of your
Highness. Two caravels have gone now, but few will go, because the
fathers say that the traffic in Indians is to cease and the greatest
profit is in that ... On your Highness's estates there are 400 Indians
who wash gold, work in the fields, build houses, etc.
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