1820 June 4

Emancipation Spanish

'.5. People Sufferers

Thus stands the account of profit, to use the language of the same intelligent and to all appearance correct reporter, "in a direct shape."

Let us now see whether to set against the loss, as brought to account above, there can in the case here in question, any profit any really existing profit accruing from the operation of the same supposed cause dominion exercised by rulers in Spain over the people of the Spanish Colonies, in any indirect shape in any other than the above direct shape.

Particular shapes in which any such indirect profit can accrue /present themselves/ there are but two, money (including moneys worth) and men: men, namely for military service: for all imaginable shapes would be found reducible to these two.

1. As to money money obtained by means of dominion in any such indirect shape, would be obtained by restriction by a sort of indirect taxation: by prohibitions restrictions on bounties having for their object the causing the mercantile men among you the Spanish people to obtain in the way of the mutual exchange of goods money or other commodites from the Spanish Americans at a less /lower/ price than if no such dominion had place, or in exchange for commodities sent to Spanish America obtaining from the Spanish Americans a higher price.