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Declining Spanish livestock prices and rising expenses
Source: The Menendez Marquez Cattle Barony at La Chua and the Determinants of Economic Expansion in Seventeenth-Century Florida #163
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In 1651 one head of beef had been valued at 21 pesos and an ox at 40. In 1682 a pair of draft oxen was worth 25 pesos, and a calf, nine. Seven years later, the legal price of a beef was down to six pesos, and deducted from that amount were the tithes, the tax for the castillo, the butcher's fee, the amortized cost of the land, and the beef tongue and loin which went to the governor. (Sale of Governor Salazar Vallecilla's Estate, October 16, 1651; Three Ranchers, August 28, 1689.) La Chua, of course, was not dependent for an outlet upon St. Augustine, but the price of cattle must have been declining in Havana, too. (Bushnell MM)
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