Real de alerce

Real de alerce or real de madera (Spanish for "real of Fitzroya" and "real of wood") was a local currency consisting in Fitzroya wood that was used during colonial times in Chiloé Archipelago. It was the Jesuits, established in Chiloé since the 17th century that established Fitzroya as a major export product towards the Viceroyalty of Peru. Real de alerce was also used by some encomenderos to pay their taxes.