oct 5, 1750 - October 5, 1750: England gives
up its right to the Spanish asiento
England sold its monopoly contract back to Spain because it was no longer economically beneficial. One factor that contributed to this was that it had become difficult for slave ships to meet the quotas the South Sea Company was paying for through its asiento, resulting in a loss of money for the company. This marked the end of the prominence of the asiento system. The Atlantic slave trade became more free in accordance with new systems of trade in a new era.
Added to timeline:
Timeline: Role of the colonial powers in the establishment and expansion of slavery; asiento system