But on her escape from this danger Spain found that she had incurred another. The treaty of Utrecht conveyed to Great Britain the _Asiento_ for supplying Spanish colonies with negroes, and further granted to that country the privilege of sending annually to the Fair of _Porto-Bello_ a vessel of five hundred tons with European commodities. British factories soon arose at _Carthagena_ and _Panamá_; and the agents had ample means of becoming acquainted with the condition of the American provinces, with the result that contraband trade greatly flourished. Thus, by the aid of a system of wholesale bribery of the revenue officers, nearly the entire commerce of Spanish America fell into the hands of foreigners. The squadron of _galleons_ was reduced from fifteen thousand to two thousand tons. [Sidenote: 1739.] It was not to be expected that Spain should tamely submit to such a state of things. Her first measure, undertaken with the view of improving matters, was to establish along her colonial coasts a system of guardships, with the object of preventing smuggling. The British colonial commerce, with the Spanish settlements, was, however, so firmly established that it would not be put down; and the Spanish coasts were so extensive that no system of guardships could exercise a sufficiently vigilant watch. The consequence was, in the first place, complaints, and then, acts of violence; which brought on another war between Great Britain and Spain, the consequence being that the latter country was released from the terms of the _Asiento_ granted by the treaty of Utrecht. Left at liberty to regulate her own colonial trade, Spain now profited by experience in so far that she was induced to permit a considerable part of her commerce with America to be carried in _register_ ships; which were fitted out during the intervals between the stated periods for the sailing of the _galleons_ and the _flota_, by merchants at Seville and Cadiz, who obtained a license for this purpose. The advantage of thus regularly supplying the demand in the colonies was soon perceived to be so great that, in 1748, the _galleons_, which had been an institution during two centuries, were abolished; whilst the single vessels no longer proceeded to _Porto-Bello_; but, sailing round _Cape Horn_, conveyed directly the productions of Europe to the Chilian and Peruvian ports. [Sidenote: 1764.]