When the Bubonic plague came to an end, the demand for peasants was at an all time high. This in turn gave the peasants an idea to demand more money for their work. The king had no problem paying more since his plan was to fill silver coins with half lead and lead peasants into inflation. Money would soon become worth less than it had and the amount of coins would not make up for the item being purchased. This kept the peasants stuck giving more money to the king to be grant more coins. Inflation on coinage in Europe leads to a surplus of money back into the royal family. Thus leading to the development of a renaissance lifestyle where the king traps peasants into giving more money to the throne and leading to a continuation of inflation for the next 6oo years.…
Spanish explorer found gold mines in Zactecas and Guanajuanto and Potosi. As a result, huge amount of gold and silver poured in to Spain. At the same time, there was an increase in population, and there was a huge demand for food. Spanish colonies also demanded for food, so the demand for food increased…
mid 16th century Rich silver deposits found in Bolivia. Silver trade gave birth to social interaction throughout the world. Foreigners began to obtain more of China’s silks and porcelains. Silver helped pay for African slaves and spices. Little Ice Age occurred causing an increase in fur trade, Spain lost its earlier position as dominant western European power.…
1. The increasing importance and expense of firearms meant that the size & cost of the Janissaries increased over time. New World silver brought inflation & undermined the purchasing power of the landholding Turkish cavalry.…
created allowed for more goods to be moved and therefore more money for the Portuguese…
Silver and gold in Spain fed the growth of capitalism, transformed the world economy, spread commerce, and increased manufacturing.…
Even though the economic affects of the flow of silver from middle Sixteenth century to the beginning of the Eighteenth century seem to play out nearly the same in the different countries, the social affects are way more custom based on the source’s pov. Documents 4 & 5 show that silver was the preferred way of pay even though the sources weren't from the same points of views (British and Ming respectfully), however; documents 2 & 7 show that Spanish & Chinese have different views on their homeland affects.…
They all wanted to be successful and wealthy and hold a high, dominant position in the social ladder. Gold was being exported, imported and found all throughout the New World. The New World had an amount of gold that drew travelers in like magnets and really encouraged new settlers. There was such an abundance of gold it slowly began to lose it value, issues like this is one of the many reasons the spanish economy collapsed. Although it might have negatively impacted various places around the world, gold acted as a huge profit in the art of trading and gained countries things like spices and other…
b. Gold and silver extracted from the rich minds in Peru and MesoAmeic and Spanish Empire…
The global flow of silver managed to redefine the social structure in many societies, as well as dramatically altered the basis of the economy in many European and Asian countries. Despite the economic change that came from the mass production of silver and its use as a standard currency, the growth of the silver industry brought as much change socially and culturally as it brought economic transformation. Many people viewed the conversion to silver being the standardized currency as a huge hindrance to their daily lives, but the silver industry brought wealth to many societies and became a necessity in trade. On one side of things, the flow of silver throughout the world brought a wave of economic change, as mentioned in documents 3,5,6, and 7, but on the other hand, it brought new social distinctions as silver widened the gap between the rich and the poor, as mentioned in documents 1 and 6. Another aspect of the global flow of silver that influenced many areas was the cultural interactions that entailed, as mentioned in documents 2,4,7, and 8. An example of the passing and interacting of cultures would be the attraction of Asian commodities to Spain which were paid for in a heavy flow of silver as mentioned in document 2, which was viewed as many as the beginning of the end for Spain, as told by the Spanish scholar Tomas de Mercado. It would be helpful to see a document that showed the statistics of the economies of some Asian and European countries before and after the massive rise of silver in their societies, as this would help me to determine the facts of the total economic effects due to the flow of the metal. Another document that would be helpful would be a document showing the point of view of a peasant that may or may not have been directly affected by the flow of metal into his/her society. It would help clear up the social effects that entailed after the arrival and massive flow of silver.…
When gold and silver was found in the new world, the Spanish sprung upon the opportunity. The early conquistadors were interested mainly in gold, but the silver mining industry escalated to the chief source of metallic wealth. Noticing the escalation of the silver market, the Spanish held a monopoly on the production and sale of mercury, which is necessary in the smelting process. This led to a strong economy since the government was monopolizing necessary products for god and silver mining. As well as gold and silver, the Columbian Exchange largely assisted in the betterment of national economies. It transferred crops, animals and technologies between Europe and America in the 15Th and 16Th centuries. This allowed for different markets to open in both Europe and the new world, opening new economic doors for nations in Europe. With all the trading and moving of goods from the new world to Europe, the industry of shipbuilding is vital to ensuring that the goods move. The Dutch East Indies Company did very well during this time due to their involvement in trade and shipbuilding. It had thousands of ships that were used to bring goods to and from Europe. It also had its own private military which insured the ships arrived at their destination. This benefits the economy as it creates jobs and opens new…
Lends of Americas were rich and fertile, and Native Americans had a plenty knowledge in various areas. First of all, Europeans craved to increase their funds of gold and silver. American gold used for decoration churches, buildings and palaces; thanks to the American gold Europe had baroque. However, using silver was more wide and deep. Silver mines of Potosi irretrievably changed the economic system of Europe. Europe never before had such a many silver coins in circulation, production increased and people could buy more goods, and began to accumulate their own capital. Silver has become more practical; with so much money the old system was transformed to the new economic system.…
Market for gold and silver have been growing steadily. The Spanish were so greedy for gold that they almost destroyed a whole population. Market has also been taking a higher quantity of silver. In document six, by Adam Smith, this was said, "Since the discovery of America, this market for its Silver mines has been growing gradually... The silver of the new continent seems in this manner to be one of the principal commodities..." This document is talking about how popular silver has become. In document six, they briefly discuss why the Spanish killed many natives. For example, "Their reason for killing and destroying such an infinite number of souls is that the Christians have an ultimate aim, which is to acquire gold." Their main objective was to get gold, an economic reason.…
The Spanish settlements began with Cortes and others conquering the Native Americans of South, Central, and parts of Southwestern North America. After eradicating a large portion of the Native American population, the Spanish began to intermarry into the Native American gene pool. Consequently, only portions of the population were pureblooded Spaniards. These Spaniards occupied the highest social and political status. Those from Spain were one step above those born in the New World while those of mixed or Indian heritage were at the bottom of the social ladder. Additionally, because the Spanish came as conquerors, the resulting political system was entirely autocratic and solely devoted to the furthering of the motherland. Immediately after conquering the Native Americans, the Spanish looted large amounts of gold, silver, and other valuables. This tradition continued into the seventeenth century as Spanish ships would come annually to bring gold and other valuables back to Spain. In this way, Spain viewed Spanish America as an object useful only for its mercantilist objectives. Since mercantilism was its only objective, Spain gave its colonies little self-rule. Instead, Spanish rulers dictated all the policies of its New World territories.…
1) The history of Spain's economy:Spain is the 5th largest economy in Europe, the World's largest producer of olive oil, and Europe's largest producer of lemons, oranges and strawberries. It is a member of the European Union, The Organization for Economic Co-operation and Development, and the World Trade Organization. Spain is It has been known to be an agricultural country, which produces a lot of wheat, barley, vegetables, grapes etc. Ironically, agriculture is not so efficient in some places due to the lack of mechanization, insufficient irrigation and soil exhaustion and erosion.…