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. The economic effects that the global flow of silver brought
The global flow of silver from the mid-sixteenth century to the early eighteenth century affected all areas involved in the trade, both socially and economically. It influenced the world economy and changed the customary life in Ming China.
The global trade of silver shaped the economies in all regions involved. (Docs. 2, 4, 6, 7, 8) Although the author of Doc. 2 believed that the flow of silver currency out of Spain ruined their economy, it is evident in Docs. 7 and 8 that they were mining much….
Enriched Global 9
Flow of Silver
The Silver trade boomed from 15701750,making silver one of
the most traded items of the time period. The flow of such
silver during the mid16t
had social and economic
effects to the regions connected by the trade , such as,
increasing class distinctions in China and Europe as well as
hurt the Spanish and Chinese economy. The Silver trade puts a
countries such as China in situations whereas the Silver trade
helps or hurt the civilization….
AP world 1/22/12
DBQ on Flow of silver in mid-16th to 18th century
The increasing flow of silver during the mid-16th to early 18th century had a very large impact on the economic and social parts of many countries through effect on land, trade, and value of silver.
The huge influx of silver brought many economic problems in both Spain and China. Antonio Vásquez de Espinosa, a Spanish priest appears indignant at the huge amount of silver being taken and stolen from the mines….
The flow of silver from the mid-sixteenth century to the early eighteenth century led to social and economic changes in Europe and China. In China, the standard of living increased, common people became poor, and a form of currency was developed, along with this came the Chinese becoming more ethnocentric due to large amounts of silver flowing in. In Europe. they became middlemen for Japan and China, but made little to no profit due to their demand for Asian luxuries which led to imbalance in trade….
the mid sixteenth century a silver mine located at Potosi, South America was formed. This silver mine was one of the few major silver mines in the world, the others located in Northern Central America and Southern Japan. This certain mine was known for its distinctive rich black flint. Extensive excavation required more than three-thousand Indians to work away with picks and hammers to break up the ore and bring it up to the surface. Just after refining the ore, the silver is shipped to Spain then from….
Silver DBQ Essay
The global flow of silver from the mid-sixteenth century to the early eighteenth century had vast effects both socially and economically around the world. By this time an interregional trade network had been clearly established and world trade was booming. When China, a prominent trade nation, accepted silver as its currency and would only exchange for it, the importance of silver increased. This new rapid scramble for silver proved to be both beneficial and disastrous. While….
Document Based Question (DBQ): Global Flow of Silver
During the mid-seventeenth century and early eighteenth century, many events occurred along with the global flow of silver bullion. In the early 1600’s, the Dutch East India Company was founded and this contributed to the Dutch Golden Age of trade, science, military and art. Also in the early 1600’s, Tokugawa Ieyasu seized Japan and made the Tokugawa Shogunate military government that was headed by the shoguns. In the mid 1600’s the Taj Mahal….
Tokugawa Japan and Spanish colonial America led the world in silver production from 1500 to 1750. The primary flow of silver was from Japan to China and from the Americas to Europe. The documents explain the negative, bias and positive economic effects of the global flow of silver from the mid-sixteenth century to the early eighteenth century.
Documents 2, 5 and 3 all deal with the negative effects of the silver flow. Antonio Vazquez de Espinosa, a Spanish priest, states that more than 3,000….
beginning of a widespread silver mining in Japan had a major impact on silver production, greatly increasing it. However, this increase in silver supply seemed good to some people, but overall caused many problems. Suppliers such as Japan and Spain, and receivers such as Ming China, seemed to benefit from this rapid increase in silver mining, but this increase caused worldwide problems as well. Based on the documents, the effects of the increase of the production of silver, was beneficial to those….
As silver grew popular, it had many affects globally. Silver was seen positively as a way to increase trade and to involve the government in society whereas silver was not liked as it destabilized societies. Ralph Fitch, a British merchant, and He Qiaoyuan, a Ming dynasty court official both believed silver was a great asset to trade. Similarly, Ming court official, Wang Xijue and Antonio Vazquez de Espinosa, a Spanish priest, admired silver seeing it was a way….