Business ventures and estate owned by Miguel Enríquez cover the privateer Miguel Enríquez ability to use his business acumen to exploit the legal loopholes offered by his letter of marque to gather considerable weight and influence among Ecclesiastical, political and Royal circles, at the height of the Golden Age of Piracy. As his Corsair fleet thrived in the contested Caribbean, his military accomplishments earned him numerous privileges usually reserved for nobility, including the honorific of Don, the military title of Captain of Land and Seas and being one of the few New World citizens to be knighted, and the only mulatto in history to receive the honor. As the accolades grew, so did his range of operations. Enríquez contracted agents to keep him informed of anything of importance taking place in the Caribbean, the Spanish Main and the Iberian Peninsula. The employees of this transatlantic web were stationed at Madrid, Cádiz, Hispaniola (Santo Domingo), Cuba (Habana and Santiago), Panama, Colombia, Venezuela and Saint Thomas. Some of his employees such as Monsieur Siren and Diel de Gravila, were commissioned by the French Crown.
Enríquez opened several stores at Old San Juan, where he became the owner of most of Calle San Justo. These businesses had a wide range and targeted different clienteles, going from drift stores for the average citizen to clothing and fashion markets for the wealthy. His businesses were self sufficient, his haciendas were among the most productive in the island and he was the exclusive supplier of wheat and wine for the Catholic Church. Enríquez’s armory was said to boast more weapons than the Spanish military in the entire Caribbean. All of these ventures allowed him to soar to unprecedented Graig hits for a black man, becoming the wealthiest and most influential non white in the Americas. Nowadays, Enríquez is regarded as the first great entrepreneur, due to his business savvy and his participation in a wide range of commercial ventures.
Commercial activities Everyday goods Material documenting Enríquez’s early incursion in the business world are scarce, as he operated in the background of the San Juan society as governor Gutiérrez’s figurehead. His move from a salesman to an influential merchant and privateer was unusually fast, despite the experience that he had acquired during his time working for the governor. Gutiérrez was instrumental in accelerating the success of the privateering venture, even allowing him access into a monopoly that he had created to run the local commerce through front men. Based on these actions, it is possible that the governor mentored Enríquez personally, providing him with resources.
By focusing on his role as a merchant and exploiting legal loopholes about privateering spoils, Enríquez gathered so much merchandise that it was unrivaled in Puerto Rico, selling anything that covered basic necessities of the citizens, ranging from food to brushes, razors, leather, locks and clothes. They also offered other commodities, such as playing cards, wines imported from Spain and equipment required for horse riding. Enríquez managed four warehouses, which besides storing merchandise were also used to manufacture anything that his ships needed. He divided them by class, separating the ones where food was stored from the ones where backup equipment was kept.
However, this model also had its drawbacks, since it was linked to the sort of relationship that he had with the authorities, with cities like Santo Domingo, Margarita and Santiago blocking him on occasion. Despite the volatile nature of his business model, Enríquez managed to secure a massive fortune. In 1716, he personally quantified the amount that Juan de Ribera owed him at 86,370 pieces of eight, which added to 20,000 that he donated, would place his fortune in at least 106,370. Fourteen witnesses claimed that based on the number of houses, haciendas, slaves, ships and amounts of other capital, his fortune should have surpassed at least 100,000. Enríquez himself stated that by then it was over 150,000 pieces of eight. Antonio Camino, who managed the money claimed that when all of the capital was added, the total ranged between 350,000 and 400,000. Valdivia supported this assertion, noting that Enríquez's house contained more items than any other house in Puerto Rico, without including its warehouses. Furthermore, his haciendas produced sugar cane, cattle and crops, which were lucrative ventures by themselves.
He took over as Puerto Rico's main supplier, both of food and military supplies, quickly becoming indispensable to the well-being and functionality of the government. However, his tactics did not settle well with the higher classes, who began indirectly accusing him of bribery. Despite this, the Crown was glad to accept any help, knowing that despite operating on for his own interests, Enríquez had become a vital figure in the Caribbean.
Services
Some of his buildings were assigned to offer everyday services including carpenters and blacksmiths. Another, became a private jail where troublesome citizens and slaves were held. Enríquez also built his own shipyard, which allowed him to properly maintain the fleet and build new ships. As his reputation grew, he was tasked with government services such as taking over the cost of repairing the defense fortifications and supplying the military hospitals. His ships were used to transport letters, cargo and the Real Situado between locations throughout the Caribbean and Spain by request from clients including the Spanish Crown, the regional viceroy and the Catholic Church, serving as one of the earliest private mail providers in the region. On occasion, this service included the transport of prisoners and individuals being accused by the state, with the sloop La Perla being known for this use. These voyages moved these convicts from the Caribbean to the Peninsula and vice versa.
Atlantic slave trade Enríquez pursued the rights to become the Royal Guinea Company sole representative in Puerto Rico. Established in 1701, this entity served as a major slave trader and became the only one sanctioned by the Spanish Crown to do business in their American colonies. On May 16, 1710, he officially completed this goal, signing a loan contract with the company's general director, Juan Bautista Chouirrio. With this accord, Enríquez became a major slaver in the territories of Puerto Rico, Trinidad, Margarita, Cumaná, Cumanagoto and Maracaibo, also permitting the acquisition of slaves from adjacent islands such as Jamaica, Saint Thomas and Curaçao depending on convenience. Under this agreement, he was able to import 40 African slaves per year, which he could sale under his own criteria. The contract lasted for three years and it also provided exemptions for clothes and maintenance. With the liberty to purchase these from any port in the Caribbean without right charges, it is likely that this was further exploited to import products at cheap prices, providing a large margin of profit.
For every peça sold, Enríquez paid 100 pieces of eight, which were combined with an additional fee of 4,000 per year. Danío was involved in the transaction (which would also prove convenient for him as an official of the company) and along the other parts, an accord to secure that wins and losses were divided into three equal parts between them. Enríquez was jubilant with this development and proposed public celebration to commemorate it. He held the contract for a period of four years, leading 19 voyages under the premise of acquiring slaves and maintenance for them. Most of them were destined to Saint Thomas. However, only ten of these incursions returned with new slaves for a total of 96, the others were used to import 109 barrels of flour. This cereal was supposedly bought to feed his slaves, but instead it was sold to the wealthier classes for profit. It is presumed that other odd products acquired under this premise, such as wine, beer, sugar, aguardiente, cocoa, paper and even copper, were sold in similar fashion. His enemies were quick to publicly denounce this practice, albeit with some exaggeration. Years later, these rights were supplanted despite the protests of Enríquez.
In 1713, the Royal Guinea Company lost its status and was instead replaced with the Real Asiento de Inglaterra. Enríquez immediately pursued a position within this new entity and quickly coordinated moves with some friends, Santiago Gibbens in Saint Thomas and Felipe Henríquez in Curaçao, to establish a new business model once he acquired these rights. To further secure the success of this venture, Enríquez offered gifts and even stakes to people that were already involved with the company. In June 1718, attorney in fact Tomás Othey granted him the title of factor and completed a loan contract. Enríquez was only able to employ this office until September, experiencing a series of complications based on international politics. During this timeframe, Othey himself imported slaves through the South Sea Company. The War of the Quadruple Alliance hurt Enríquez's interest, since he was forced to surrender all of the property that belonged to the Real Asiento. He declared that he no longer possessed anything that belonged to the company. With the embargo taking an extended time period, Enríquez likely hid the Real Asiento's property during the wait and keep them for himself.
Pozo was not pleased with this outcome and requested the intervention of dean Martín Calderón, expecting the church to intervene. Harassed by the ecclesiastical investigation, Enríquez requested a license permitting a move to Cuba, which was granted but never materialized. The arrival of a new bishop, Fernando de Valdivia, prevented the migration. Before leaving Spain, the friar had received requests to favor the privateer. Enríquez paid the voyage and offered Valdivia all sorts of gifts, including a house, jewels and slaves, spending at least 3,000 pieces of eight. For the next two weeks, the Bishop only had contact with the privateer, even ignoring the governor. Valvidia eventually established a lukewarm relation with the authorities, which was always superseded by his friendship with Enríquez. With his power, the Bishop revoked the actions of Matín Calderón and placed the blame of the conflicts on the dean and treasurer.
Business tactics Model