The Role Of Gold Of Global Commerce Between 1450 And 1750

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 countries which were lucky geographically in their supply of raw silver could now trade prominently with China, demand created an increase of labor and social unrest. Reliance on silver both helped and hindered economies and societies, bringing

In the Indian ocean from 650 C.E. and 1750 C.E. there have been many continuities in commerce. One such continuity was the goods traded. For

This was due to the fact they lost a lot of silver to China, where it wasn’t recirculated back into the global economy. This is evident in document 2, which states that “High prices ruined Spain as the prices attracted Asian commodities and the silver currency flowed out to pay for them.” This shows that Spain, one of the leading silver producers in Europe, was going economically downhill due to having to mine out large amounts of silver in order to meet the prices for Asian commodities. Document 6 claims that, “…according to most of the accounts in the Spanish royal records, 326,000,000 silver coins have been taken out.” This was in the time frame of 1545 to 1628, meaning that millions of coins worth of silver were taken out of Potosí in order to fund the Spanish economy and their buying of Asian goods. Document 8 supports this by stating, “…sends to Asia gold and silver, where is there buried and never returns.” This document also states that Europe only gains luxury goods and perishable commodities from Europe, nothing of much practical purpose, while sending away silver, which is of high value and can be used for more practical reasons. This shows that while Europe is receiving luxury goods from Asia, it is giving away precious metals that aren't going to be recirculated back into their economy, which ends up hurting their economy in the long

This document is reliable as it is a scholar whose primary purpose should be to observe and record. The Portuguese also took advantage of this Silver Trade integration. Ralph Fitch was aware of this stance of the Portuguese by recording in his account of travels in the East Indies during the year 1599. He claims, “…more than 600,000 cons of Japanese Silver… the Portuguese bring from China gold, perfume, silk, copper, porcelain, and many other luxury goods.” (Document 4) This quote by Fitch reveals that the Europeans, or in this case the Portuguese, were frequently trading with China for goods that they did not frequently obtain before this time. Antonio Vazquez de Espinosa, a Spanish priest in the 1620’s exclaimed, “…silver taken secretly from these mines to Spain, paying no 20 percent tax or registry fee, and to other countries outside Spain including the Philippines and China.” (Document 6) This quote means that there was silver that was being spread throughout the

When examining the change and continuity of commerce in Latin America during the time period, 1450-present, some things changed and some things stayed the same. One thing that changed was the previous, trade which was limited to llamas and was therefore more regional. This changed due to the introduction of cattle due to the Colombian Exchange. One thing that continued for the most part was the items used for trading because of the natural resources in Latin America such as silver and various crops that were part of the culture and minimally changed. One thing that changed was the large variety of ethnicities and races that arrived in Latin America because of new economic opportunities situated in the area such as a mercantile job.

During the mid sixteenth century to the early eighteenth century, the usage of silver was immensely popular because of its dominance in trade such as the requirement of paying domestic taxes and trade fees with silver in the Ming Dynasty. Thus, the increased flow of silver caused social and economic effects in all region associated with trade such as Ming China, Spain, Tokugawa Japan and England by increasing trade and wealth but also profoundly weakening the state of these countries such as increasing social division, competition, and inflation.

Coming into the 4th Era, the Church held a prominent role in society. Many rulers legitimized their power through the approval of the pope. However, the church was seriously reformed under the criticism of Martin Luther in that, while other theologies like protestantism began to take hold, the catholic church’s role decreased. As secular perspectives began to intensify, both art and wealth shifted toward the furthuring of the human being rather than the glorification of religious deities. As such, interest in commodities from Asia grew as European entities traveled west with the hopes of reaching East Asia.

From the mid 1500's to the early 1700's, silver has influenced economy and social life in the countries Spain and China. The documents provided state that the silver trade contributed to many controversies worldwide in this time period. One issue from this silver trade was economic and social effects. In Documents 2, 3, and 4 the economic consequences of the silver trade are made seen. In Documents 6, 7, and 8 the social consequences can be seen.

The Silver trade (1500-1750), which involved the global trade and exchange in silver, radically changed the global economy with the countries involved. The Silver trade had various direct and indirect social and economic implications with the countries involved, some subtle, while others were radical. More specifically, it put Europe in a dependant and subordinate position to China on an economic level. In terms of China, it was beneficial to the economy of China, while, on a social level, caused more suffering to the lower class.

Through the years of 1570­1750 the trading of silver reached its peak in the worlds’

The primary flow of silver had severe effects economically and socially from 15000-1750. Some effects are the economic imbalance which caused social suffering, the social anarchy of robbing and more, and when the economic imbalance caused them to be active within the trade business which helped their economy. Documents 1, and 3 show the social effects that evolved from economic aspects. In document 1 it shows that the demand of silver had effects on the poor and also the rich. The source of document 1 was Ye Chunji, who was a county official during the Ming dynasty.

Silver, one of the most precious metals, desired by the Europeans, Asians and Spaniards was at mass flow from the mid­ sixteenth century to the early eighteenth century. The sliver trade affected societies positively and negatively. The trade and minding of silver brought lots of social interactions between countries but it also brought lots of problems with it like in Mesoamerica were Indians were put to work to the death in minding fields. Documents 1, 3, 5, and 6 go over the social suffering that took place in not only mesoamerica but also in China were great changes brought suffering and hardship to the common mans life. Documents 2, 4, and 7 tells about the economic gain that japan, China and Spain had with the trade of silver(even

two, six, and eight highlight negative aspects and affects of the silver trade; documents four

The scramble to increase wealth began following the ‘discovery’ of the western hemisphere by wealth-seeking European empires. Initially, empires sought for gold but later realized the soil of the new lands were of the greatest wealth, but could only be acquired through the labour

The Silk Road is a trading route on the continent of Eurasia that stretches from the vast coast of China all the way to Eastern Europe. The trade route was at its greatest use from 200 B.C.E. to 1450 C.E. The society that began the Silk Road was the Han Dynasty in China in approximately 200 B.C.E. The Han Dynasty facilitated trade in the east, while the Roman Empire facilitated trade in the west and in Europe. The two empires traded many goods, as well as cultural aspects of each society’s way of life. From 200 B.C.E. to 1450 C.E., the Silk Road changed in terms of trade, such as what items were traded, and contact with civilizations, such as what societies made use of the Silk Road. Although these changes affected the efficiency of trade