Now it's time to meet the Goulds, who are pretty important players. They are an English couple. Charles (a.k.a. Carlos) Gould's family goes back in Costaguana for three generations, and his uncle was briefly President of the state of Costaguana (during the Federalist period)… before he was executed. Eek. He has a wife named Emilia.
We learn about their early life in Costaguana, to which Mr. Gould returned after his father's death (having spent a good portion of his life in Europe).
We also learn about the Goulds' relationship with Avellanos, a neighboring family.
Then, we get information about how Charles came to take over the San Tomé mine, including the government "concession" that "gave" the mine to his family (which basically ruined his father).
As part of that story, the narrator relays how an American steel/silver tycoon named Holroyd got involved in the mine and how his relationship with Charles developed over time.
We hear about Holroyd's surprise visit to inspect progress on the mine, and Charles's conversation with Emilia afterwards.