Their assets had to amount to at least 28,000 pesos .
A consulado was founded in Mexico City in 1594 , controlled by peninsular wholesale merchants who dealt in long - distance trade and often married into local elite families with commercial ties .
merchants ' assets had to amount to at least 28,000 pesos .
A consulado was founded in Mexico City in 1594 , controlled by peninsular wholesale merchants who dealt in long - distance trade and often married into local elite families with commercial ties .