Consulado de mercaderes

In theory, the Consulado enjoyed virtual monopoly rights over goods shipped to America, in a regular and closely controlled Spanish treasure fleet, and handled much of the silver this trade generated.

[1] A consulado was founded in Mexico City in 1594, controlled by peninsular wholesale merchants who dealt in long-distance trade and often married into local elite families with commercial ties.

[3] In the 18th century, as New Spain's economy boomed, consulados were established in the port of Veracruz and in Guadalajara, indicating increased trade and the expansion of the merchant elite.

In order to survive and maintain an effective business, the Casa de Contratación worked in conjunction with the merchant guild (Consulado), which in turn controlled goods shipped to America and was paid vast amounts of silver in return for its cooperation.

The Consulado effectively manipulated the government and the citizenry of both Spain and the Indies colonies, and grew richer and more powerful every day because of it.