1518 · Caribbeanyear only
The first asiento licenses shipping captives straight from Africa
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Until 1518 enslaved Africans reaching Spanish America generally came by way of Spain, landed first in Iberian ports and re-shipped from there, which was slow and expensive and kept the numbers small. In that year the Spanish crown issued the first asiento, a contract granting its holder the right to deliver a fixed number of captives from the African coast to the Caribbean without an intervening European stop. Spain held no trading posts in Africa, having conceded that coast to Portugal by treaty, so the asiento was always a licence sold to foreigners. Portuguese, then Dutch, then French and finally British contractors held it in turn, and possession of it became a prize in European wars; Britain took the asiento from Spain at Utrecht in 1713. The instrument matters because it turned the traffic into routine business with quotas, prices, insurers and standing in law, which is the condition under which a trade grows large.