Chapter 14- Silver and Global Commerce

Chapter 14

            Silver and Global Commerce

            The expansion of silver production occurred during the 1600s as silver was traded globally.   Silver deposits discovered in Bolivia, or the city of Potosi, flourished throughout the Americas and Europe.   However silver had negative impacts to Spain’s economy.  Miners worked in dangerous conditions  such as toxic gas, explosions, falling rocks, work related diseases and many died. Extensive silver mining lead to severe deforestation, soil, erosion, and flooding in the area of Potosi. Spain’s economy did not prosper with silver due to inflation of prices, monopolies and regulations.   Afterwards, Japan became dominant in silver production.  Tokugawa Leyasu , was the military ruler of Japan.  The Tokugawa shoguns established during the 1600s controlled Japan’s silver production.  

             Finally, it is my opinion, capitalism grew with the introduction of silver mining production and other resources such as gold.  With the increase in money supply, this affected the economy unevenly.  As the Spanish tried to secure their supply of silver for themselves, their economy eventually was failing due to economic affects such as widespread diseases. Japan took over and tried to maintain the silver trade with China to increase circulation of  money and wealth into their country.  Eventually, changes in global commerce, industry, and agriculture influenced continuous growth throughout Europe.