Asiento

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Asiento

 

agreements of the 16th-18th centuries by which Spain gave private parties or foreign states exclusive rights to import Negro slaves into its American possessions. During the 16th and 17th centuries, the Flemish, Genoese, and Dutch obtained this right at various times; France got the monopoly in 1701 and England in 1713 (for 30 years). The use of the Asiento by English merchants for contraband trade and robbery at sea caused the Anglo-Spanish war of 1739–48. England got the Asiento extended for four years by the treaty of Aachen of 1748. By the treaty signed in Madrid (1750) it renounced the Asiento for a compensation of 100,000 pounds sterling.