Consulado de mercaderes

The Consulado de mercaderes was the Spanish merchant guild, founded in Seville, the sole port for Spain's overseas trade in the 16th and 17th centuries, until the official port was relocated to Cadiz, following the Treaty of Utrecht. 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.

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. Their assets had to amount to at least 28,000 pesos. Although they were not supposed to deal in local retail trade, they often did some indirectly. They mainly lived in Mexico City and had positions on the city council or cabildo. A number of them were connected to the crown mint in the capital. They diversified the assets locally, investing in urban real estate. 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. The consulado in late colonial Mexico had approximately 200 members, who divided themselves into two factions, the Basque and Montañés, even though some were from neither of these Iberian regions. American-born merchants came to be part of the consulado in the later colonial period, but a small number of peninsular merchants dominated. Goods were shipped from the Spanish port of Cádiz to Veracruz, but many of the goods were produced elsewhere in Europe.