"Lucro cesante y daño emergente" the funds of chaplaincies in the financing of the merchants of mexico city at the end of the 18th century

Abstract

In this essay, we broadly address the main credit practices that allowed the great merchants of the Mexico City consulate to impose their dominance on the markets of New Spain, particularly at the end of the 18th century. We explain how they made their funding sources by establishing an increasing number of chaplaincies, whose endowement flows were lent to members of their business networks. We focus on studying the chaplaincies founded by these economic actors and examining how they invested their endowment funds through the increasing use of irregular deposits, which was made possible by the strengthening of the mercantile estate. In addition, the analysis that we carried out allows us to observe the complex articulation that existed between the Catholic culture and the social reproduction of business networks in the Old Regime of New Spain.