A Trading Company
The South Seas Company's charter (of 1711) provided it with exclusive access to all of Middle and South America. However, the areas in question were Spanish colonies, and Great Britain was still at war with Spain. Even once a peace treaty had been signed, the South Sea Company was allowed to send only one ship per year to Spain’s American colonies (not one ship per colony; exactly one ship), carrying a cargo of not more than 500 tons. Additionally, it had the right to transport slaves, although steep import duties made the slave trade entirely unprofitable. Nevertheless, relations between the two countries were not good, and the company's trade suffered in two wars between Great Britain and Spain.
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