Source: The King?s Coffer (ID83)
Author: Bushnell, Amy (ID32)
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Online link: #http://ufdc.ufl.edu/AA00014878/00001#
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1651-01-01 - 1651-12-31
FL soldiers spending certificates for back wages were upcharged up to 75%
When the cost of credit was built into a bill of exchange to circumvent usury restrictions, the price could be steep. The spice merchants (mercaderes en drogas) who exchanged the notes against unpaid situados discounted them 18% to 75%. Soldiers trying to spend their certificates for back wages were obliged to pay higher prices and accept inferior goods. [Note 35: Nicolas Ponce de Leon 9/20/1651; Pedro Beltran de Santa Cruz 11/28/1645; Francisco Menendez Marquez and Pedro Benedit Horruytiner 5/17/1646; anon 11/20/1655]
(Bushnell KC)
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