Bienestar y pobreza. El impacto del sistema de herencia castellano en Cádiz, el «Emporio del Orbe» (1700–1810 )1

The continuity of big mercantile houses established in Western Andalusia during die eighteenth century was jeopardized not only due to die political and economic crisis of the end of the century, but also due to another source of instability that has received little attention in economic history: the equalitarian principles of the Castilian hereditary system, whose aim was to safeguard the transmission of family wealth between generations. Castilian hereditary law and customs promoted family well-being, but die equalitarian division of patrimonies also had the result of forcing die dispersion of fortunes, dierefore hindering the continuity of numerous mercantile family firms. This article studies the effects of die Castilian hereditary system in Cádiz during the eighteen century, when die Andalusien city held the legal monopoly of trade between Spain and its American possessions. The study also analyzes some of the mechanisms that die Cádiz mercantile elites used in order to bequeath more concentrated patrimonies.