How did the influx of silver from mines in Spanish held Bolivia and Mexico affect the European economy?

How did the influx of silver from mines in Spanish-held Bolivia and Mexico Affect the European economy? Inflation rose steeply because of the overwhelming amount of silver available. … What motivated ordinary Europeans to go on voyages of exploration in the fifteenth and sixteenth centuries?

Which of the following describes an effect of the silver trade on Spain?

Which of the following describes an effect of the silver trade on Spain? It enabled Spanish rulers to pursue military and political ambitions in Europe and the Americas. What did the Portuguese do after they established sea routes to the Indian Ocean? They conquered several strategic port cities.

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What was the significance of the silver trade in the early modern era of world history?

The silver trade was the first direct and sustained link between the Americas and Asia, and it initiated a web of Pacific commerce that grew steadily over the centuries. It transformed Spain and Japan, the two states that controlled the principal new sources of silver.

How were the European voyages of exploration an extension of Renaissance thought?

Exploration was a manifestation of Renaissance curiosity about the physical universe. How were the European voyages of exploration an extension of Renaissance thought? Women had no role on the councils.

What role did Monarchs play in the European voyages of exploration of the fifteenth and sixteenth centuries?

What role did monarchs play in the European voyages of exploration of the fifteenth and sixteenth centuries? They financially sponsored voyages and encouraged explorers to go farther than before.

How did silver cause the rise of the Spanish Empire?

Cause: The gold and silver coming from its vast empire made made Spain incredibly wealthy. … As silver bullion flooded the market, its value dropped and it took more to buy anything. Effect: The Spanish economy declined and at times it was bankrupt.

How did silver cause the Spanish Empire to fall?

Those shiploads of gold and silver just circulated more currency into the market, which lowered the value of the existing forms of currency in Spain. The American bullion put major pressure on the Spanish economy, and this pressure was only increased with the new costs that came with the empire.

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Why was silver important to Spain?

Spaniards at the time of the Age of Exploration discovered vast amounts of silver, much of which was from the Potosí silver mines, to fuel their trade economy. Potosí’s deposits were rich and Spanish American silver mines were the world’s cheapest sources of it.

What caused the global silver trade?

Contributing factors to the patterns of the global silver trade between 1550-1800 include large cities and ports, economic demand, and the use for government tax . … Cities and/or ports in South America, the Philippines, and China imported and exported silver, connecting the globe and spreading silver worldwide.

Where did Spain find gold and silver in the New world?

The Spanish worked alluvial gold deposits in the Caribbean, Mexico, and the Andes (especially in New Granada). Spanish settlers located all the main silver-bearing zones of Latin America in the sixteenth century. Some deposits of silver ore had been known to the native cultures.

How did the influx of Spanish silver affect the European economy quizlet?

How did the influx of silver impact Spain in the sixteenth century? … Influx of silver and getting rid of Jews and Muslims and demand for products causes a massive inflation in economy of Spain. The country was rich but wasn’t producing anything because of their low manufacturing class and large demands for goods.

In what ways did the Renaissance encourage European exploration and expansion in the fifteenth and sixteenth centuries?

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How did the Renaissance help to encourage European exploration? People had an increase desire to learn about the wider world and gain wealth, they needed to travel/explore to do that.

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Why did the Spanish and Portuguese launch voyages of exploration?

Why did the Spanish and Portuguese launch voyages of exploration? A. They hoped to establish sea routes to the Indies to make profits from trade. … He led a fleet of 13 ships on a voyage to India; on the way, he claimed part of South America for Portugal.

What discoveries were made by explorers from Portugal and Spain?

What discoveries were made by explorers from Portugal and Spain? Portugese: Azores, Madeira Islands in the Atlantic Ocean, Information about Africa’s coast – the knowledge of gold and slaves in the area.

What Spanish city was granted a monopoly over all Spanish traffic to the Americas in 1503?

The discovery of America should have given the Spanish economy a giant boost, but in 1503, three years before the death of Christopher Columbus, the city of Seville in Castile was awarded the exclusive right to trade with the New World.

What role did Monarchs play in the European voyages of exploration of the fifteenth and sixteenth centuries quizlet?

What role did monarchs play in the European voyages of exploration of the fifteenth and sixteenth centuries? They financially sponsored voyages and encouraged explorers to go farther than before.