58

PRODUCE OF THE MINES ciiap. xviii.

than the year 1556; but it is very reasonably be-lieved that the first years which followed thediscovery of the veins were the most productivein riches.” Although the actual amount in thefirst ten years must be a matter of doubt, yetsome judgment may be formed from the suc-ceeding twenty-three years, from 1556 to 1578,of which the accounts have every appearance ofveracity.

The Emperor Charles the fifth granted to hiscelebrated secretary of state, Don Francisco To-mas de los Cobos, for two lives, a maravedi oneach marc of silver raised in Potosi. This gaverise to the tax afterwards imposed of a fifth of theproduce. The account of the Cobos, the imposthaving taken the name of the person in whosefavour it was first granted, from the years 1556 to1578, gives, as the amount of the tax, nine millionseight hundred and two thousand two hundred andfifty-seven pesos, and consequently the treasureproduced must have amounted to forty-nine mil-lions eleven thousand two hundred and eighty-fivepesos or dollars, or annually to two millions onehundred and thirty thousand nine hundred andtwenty-five pesos, or about four hundred and fortythousand pounds sterling 1 .

Sandoval, Ulloa, and Solarzano, all of whomare quoted by Humboldt , would lead us to sup-

1 Diccionario de Hacienda, vol. i. page 102.