PEARL FISHERY. 141 



From official documents, it is ascertained 

 that up to the year 1530, the annual value 

 of pearls obtained from the Atlantic side 

 amounted to eight hundred thousand dol- 

 lars; at the commencement of the con- 

 quest, the island of Coche alone produced 

 one thousand five hundred marks' v^orth of 

 pearls every month, equal to three thousand 

 dollars, reckoning the mark at eight shil- 

 lings. Now it must be remembered, that at 

 this period all the mines of America hardly 

 gave two millions of dollars, and that 

 silver was then scarce, and pearls plenti- 

 ful ; the same quantity* of pearls would be 

 worth twice the sum, one million six hun- 

 dred thousand, at the present value of silver. 

 Pearls have in their turn become scarce, 

 and their value necessarily increased ; and 

 as the value of silver has diminished, could 

 the same number of pearls be procured as in 

 1530, their ratio with the present supply of 

 silver would give an actual value of three 



