The Spanish and Chinese one of the very important silver production in 1500 to 1750.The Chinese only allowed that fee’s such as taxes and trade to be paid with silver. Just like everything there were many economic as well as economic effects of the world silver trade.
The silver trade had a very huge impact globally.During 1500 -1700 silver production became a very huge deal.The Chinese and Spanish were a huge part in which they led the global silver production. The documents 2,4,as well as 7 shows the economic and social effects that came with trading silver around the world.For example , in document 2 Tomas de Mercado explained how the silver flow moved from Japan to China to exchange for goods.
Tomas De Mercado wrote how silver trade is important since China had some astonishing manufactured goods they would trade it in exchange for silver.As for the Spanish they were weak due to the lost amount of silver lost due to trading goods with China after they just went downhill economically.Document 7 the author argued how people who were in the silver trade of China such as chinese merchants should be allowed to go out and trade silver with foreign people in order to grow their silver trade.In document 4 it continues to talk about other trades such as the Portuguese trading good with China and Japan in return for silver. As seen on documents 1 and 4 it shows how political power was while the silber flow trade around the globe was like.
In document 1 the author wrote how money was spent it talks about how they would waste money on festival parties which led for them to encourage people to minimize the silver they would use up for these events or parties.In the same document it shows how the people of China had to pay taxes with silver or if not they would use the excuse of them not following the mandate of heaven.British people were concern of their part of the global silver trade, of them not having enough silver to prove or to increase Britain’s power.In order for Britain to show off their power they world have to be on the top of the global world silver trade.Document 4 continues to explain how the Portuguese traded excellent goods with China in order to get silver to buy luxurious items. In the documents 3,5,and as well as 6 proves that there were negative effects onto the poor due to the global silver trade.Document 3 talks about how prices on goods such as grain were lowering since the many poor people weren’t able to afford them.
Due to many people not being to afford goods for them to buy such as harvested crops the people harvesting were starting to get paid less and less each time the prices had to lower.Document 5 talks about how people had an option to pay with goods but when silver became a popularity their only option was to pay with silver.Last, document 6 concerning how many indian people had to due labor i which they went into to mines to get silver .They were treated almost like slaves but they were paid not a lot but way little of course.
To conclude the global silver flow between Spain and China from the mid-sixteenth century to early eighteenth century had effects just like any other major events in history did but the silver flow trade facts were that political,started the major global silver trade,and had a negative impact on those less fortunate.