Christopher Columbus’s contract

Today marks the anniversary of one of the most momentous contracts in history: Christopher Columbus (a/k/a Cristobal Colón) and Juan de Coloma, aide to King Ferdinand of Aragon, sign the memorandum of agreement under which Colón will sail to Asia looking for spices.  The contract is inked on the fifth Sunday of Lent and thus is known as the Capitulations of Santa Fé.

Under the terms of the deal, the royal households of Ferdinand and Isabella will contribute about 1.14 million of the expected 2 million maravedis that the venture is expected to cost.  Columbus himself has to raise 500,000, which he wll do, probably from Florentine merchants.  His salary for the venture will be 140,000 maravedis.  Here are some of the terms:

The things prayed for, and which Your Highness give and grant to Don Cristobal Colón as some recompense for what he is to discover in the Oceans, and for the voyages which now, with the help of God, he has engaged to make therein in the service of your Highnesses, are the following:

Firstly, that Your Highnesses, as actual Lords of the said Oceans, appoint from this date the said Don Cristobal Colón to be your Admiral in all those islands and mainlands which by his activity and industry shall be discovered or acquired in the said oceans, during his lifetime, and likewise, after his death, his heirs and successors one after another in perpetuity, with all the preeminences and prerogatives appertaining to the said office . . . .

Likewise, that Your Highnesses appoint the said Don Cristobal Colón to be your Viceroy and Governor General in all the said island and mainlands . . . .

Item, that of all and every kind of merchandise, whether pearls, precious stones, gold, silver, spices, and other objects and merchandise whatsoever, of whatever kind, name and sort, which may be bought, bartered, discovered, acquired and obtained within the limits of the said Admiralty, Your Highnesses grant from now henceforth to the said Don Cristobal, and will that he may have and take for himself, the tenth part of the whole . . . .