Peninsulares were people born in Europe,
Mestizos were people of European and Amerindian heritage.
Explanation:
According to the social classification system that existed in Colonial Latin America.
First Class - Peninsulares: Descendents from Latin American colonies. They were elite wealthy mostly born in Spain (in Europe) considered as the highest in the social class order. They had their own plantations and slaves. They were highly influential in administration of church affairs.
Second Class - Mestizoes: The Whites originating from Latin America with European and Amerindian heritage. Although, the Creoles were also landowners and highly influential, the Peninsulares were considered high because of their Europeon origin.
Third Class: The Mestizos and Mullatos formed the third class of society. The Mestizos originated from Native America and Europe and this mixed race features gave them the appearance to be better accepted than the Native Americans but still not above the first and second class groups.
The Mulattos being a mixed race origin from Europe and Africa were mostly slaves with few wealthy mulattos. Hence they did not enjoy much privilege like the others
.