especially from 1570 to 1595, indicates the true beginning of the plentiful flow of the precious metals to the Old World, in consequence of which their value diminished and the results of European industry increased in price. This is accounted for by the commencement of the beneficial working of the American mines about that period. The real opening of the mines of Potosi, by the Spanish conquerors, dates from the year 1545; and it was between this epoch and 1595, that the splendid masses of silver from Tasco, Zacatecas, and Pachuca, in New Spain; and from Potosi, Porco and Oruro, in the chain of Peruvian Andes, began to be distributed more uniformly over Europe, and to affect the price of its productions. From the period of the administration of Cortéz to the year 1552, when the celebrated mines of Zacatecas were just opened, the export from Mexico, rarely reached in value, annually, 100,000 pesos de oro, or nearly $1,165,000. But from that date it rose rapidly, and in the years 1569, 1578 and 1587, it was already, respectively—
| 931,564 | Pesos de oro. | —The Peso de oro, is rated by Prescott, at $11.65 cents, and by Ramirez, at $2.93 cents. [17] |
|---|---|---|
| 1,111,202 | " " | |
| 1,812,051 | " " |
During the last peaceful epoch of the Spanish domination, Baron Humboldt calculates the annual yield of the mines of Mexico at not more than 23 , 000