[Sidenote: 1715.] [Sidenote: 1739.] In 1715, after the treaty of Utrecht, the English, as has been said, obtained the _asiento_ or contract for supplying Spanish colonies in America with African slaves, in virtue of which they had permission to form an establishment at _Buenos Ayres_, and to send thither annually four ships with twelve hundred negroes, the value of which they might export in produce of the country. They were strictly forbidden to introduce other goods than those necessary for their own establishments; but under the temptation of gain on the one side and of demand on the other, the _asiento_ ships naturally became the means of transacting a considerable contraband trade. One vessel is mentioned by Dean Funes, the historian, as being well known to have carried away from the _Plata_ for London two millions of dollars in specie and seventy thousand dollars’ worth of hides in return for European goods clandestinely introduced. This trade was carried on till 1739, when Spain attempted to stop it by means of guardships. As the English resented this measure, the two powers became involved in hostilities, with the result that the _asiento_ ceased. The English were not the only smugglers in the river Plate. By the treaty of Utrecht the Portuguese had obtained the important settlement of _Colonia_ directly facing _Buenos Ayres_. It is to be remembered, however, that the majestic stream has here a breadth of about thirty miles, or more than that which separates England from France. By the same treaty the Crown of Portugal solemnly engaged to prohibit smuggling; but, notwithstanding this clause, the provinces of _Buenos Ayres_, _Paraguay_, and _Tucuman_ were thenceforward abundantly supplied through this channel with European goods. Thus by the imbecile commercial policy of Spain, that country was not only superseded by foreign traders in the markets of her own colonies, but further lost the duties upon their produce. The yearly freight of the galleons, which a century before had been estimated at fifteen thousand tons, fell to two thousand. The Viceroy of _Peru_ had even to write to the governor of _Buenos Ayres_, requiring him to punish his officers for their negligence or connivance, since it appeared that the Peruvians no longer repaired to _Lima_ as a market for European goods, their wants being amply supplied from the _Plata_.