GLOBAL ESSAY
2006 FREE RESPONSE QUESTIONS
PART A Using the documents, analyze the social and economic effects of the global flow of silver from the mid-sixteenth century to the early eighteenth century. Explain how another type of document would help you analyze the effects of the flow of silver bullion in this period.
During the mid-sixteenth century to the early eighteenth century, Silver had been equivalent to modern day legal tender. Just like today, some countries had much more of it than others. Spanish colonial America and Tokugawa Japan led the world in silver production from 1500 to 1750. While on the other hand in the early 1570’s, the Ming Chinese government required that all domestic taxes and trade fees be paid in silver due to their scarcity of it.
In Document 3 Wang Xijue (Ming Dynasty court official) makes a report to the emperor in 1593. In the report, it explains how “grain is cheap despite poor harvests in recent years is due entirely to the scarcity of silver coin.” His writings show how desperate China has become for silver because of their lower than dirt economy. As well as the fact that since “tillers of the soil receive lower returns on their labors, and thus less land is put into cultivation,” methods employed to solve the problem are actually leading to the further fall of the economy. In Document 5 as well- written in 1610 by writer Xu Dunqiu Ming, it describes the events on more of a social and community level. He talks of how “In the past, the dye shops would allow customers to have several dozen pieces of cloth dyed before settling accounts and charging the customers.” Although then again because of the falling economy and people's desperation for silver in order to pay their taxes, now “when you have your cloth dyed you receive a bill, which must be paid with silver obtained from a moneylender.” This again just as with reducing the cost of grain will only lead to the further fall of the economy. Due to the fact that China had been so
PART A Using the documents, analyze the social and economic effects of the global flow of silver from the mid-sixteenth century to the early eighteenth century. Explain how another type of document would help you analyze the effects of the flow of silver bullion in this period.
During the mid-sixteenth century to the early eighteenth century, Silver had been equivalent to modern day legal tender. Just like today, some countries had much more of it than others. Spanish colonial America and Tokugawa Japan led the world in silver production from 1500 to 1750. While on the other hand in the early 1570’s, the Ming Chinese government required that all domestic taxes and trade fees be paid in silver due to their scarcity of it.
In Document 3 Wang Xijue (Ming Dynasty court official) makes a report to the emperor in 1593. In the report, it explains how “grain is cheap despite poor harvests in recent years is due entirely to the scarcity of silver coin.” His writings show how desperate China has become for silver because of their lower than dirt economy. As well as the fact that since “tillers of the soil receive lower returns on their labors, and thus less land is put into cultivation,” methods employed to solve the problem are actually leading to the further fall of the economy. In Document 5 as well- written in 1610 by writer Xu Dunqiu Ming, it describes the events on more of a social and community level. He talks of how “In the past, the dye shops would allow customers to have several dozen pieces of cloth dyed before settling accounts and charging the customers.” Although then again because of the falling economy and people's desperation for silver in order to pay their taxes, now “when you have your cloth dyed you receive a bill, which must be paid with silver obtained from a moneylender.” This again just as with reducing the cost of grain will only lead to the further fall of the economy. Due to the fact that China had been so