The economic impact of the global flow of silver in Spain during this time period can be easily seen in documents two and six. Document two, (Tomas de Mercado) demonstrates that the ballast stones used in the ships on the outgoing trip were replaces by the large amount of silver during their return trips; while document six, (Antonio Vasquez de Espinos) claims that between 1545 and 1624, a total of approximately
I grouped documents 2 and 6 together. I grouped these two documents together because they show how the global flow of silver affected Spain’s economy. Document 2 shows us that the ballast stones were traded with the Filipinos for silver that the Spanish put in their ships to make them sturdier. However, the silver made the economy of Spain much better. In document 6 Antonio Vazquez de Espinos makes a claim that between the dates 1545 and 1624 approximately 326,000,000 silver coins were taken out of the mines in Potosi.
In documents 4, 2, and 8, the flow of silver show how the economy was affected, people spent the silver to buy luxury goods from china. In document 4, it describes large shipment of silver from Japan to china in exchange for Chinese luxuries. The British
They formed their own community and were also the victims to one of the worst acts of discrimination. Therefore, although the Chinese immigration were heavily discriminated against by the United States, they were still crucial to socioeconomic development of the United States in the late 1800s. The Chinese immigration was crucial to the economic development of the United States because it brought immigrants for the gold rush, the transcontinental railroad, the farms, as well as other small businesses. The first wave of Chinese immigration was during the California gold rush in order to escape their poverty-stricken land or to provide their family with a better life. When they arrived in America, the immigrants would work in mines because mining was a big part of the country's economy during that time.
The Trans-Atlantic trading system mainly took silver from deposits in Potosí, Bolivia, thus, creating a connection to the old and new world. By trading silver with Chinese, who only accepted silver from the Americas, it created a high demand for silver, allowing an increase in global economy. Resulting in the middle passage, the Trans-Atlantic had a gigantic involvement with slaves, who kept up sugar plantations, thus, connecting West Africa to the Caribbean and America to Western Europe. In contrast to the Trans-Atlantic, the Indian Ocean trade connected East to West Africa and Europe to Africa. Goods traded along the system included silk and porcelain from China, spices from SE Asia and peppers, pearls, and cotton from India.
The sudden downturns in the economy led to a sharp drop in gold reserves and put pressure on the government to bring in a high protective tariff. From 1896 the political influence of big business remained a key factor in politics. Big business contributed to the political dominance of the Republican Party until 1912. The impact of big business on the economy was the size and mount of American Wealth and the relatively new and unregulated financial system meant that great entrepreneurs (often referred as ‘robber barons’) could use ruthless methods to defeat their competitors. Also in
The railway gave Russia access to Siberia and its vast resources such as coal, oil and metal ores these were considered ‘capital goods’ and led to a 50% economic growth; However still trailing far behind the great European powers such as Austro-Hungary which had a 79% increase. However Witte increased taxes on the already financially crippled peasants further increasing their debt, as they still had to pay redemption fees alexander the ii inflicted upon them despite
The first reason for the decline of Rome was that its economy was starting to fail by the year A.D. 212. At this point in Rome’s history it had stopped expanding and as a result stopped gaining wealth from conquering other countries.” When the Empire was expanding, its prosperity was fed by plundered wealth and by new markets in the semi-barbaric provinces. When the Empire ceased to expand, however, economic progress soon ceased” (Uses of the Past, Muller) Also during this period where Rome was not gaining any revenue inflation started to occur. Inflation is the result of the devaluation of money. Most of Rome’s currency was silver coins and as a result of the empire not gaining any more wealth from plundering and looting from conflicts they reduced the amount of silver used in the coins.
The problem with this was that the allies had slow growing post war economies, this meant that they had little money to repay their war debts with and many of the nations disagreed that they should have to repay the loan at all, as the war had been in everybody’s interest and the money they had spent had helped the united states to prosper. The two ways that the allies could repay the US were with Gold reserves or with increased exports to America. Neither of these were appropriate, the allies needed gold reserves to support their faltering currencies and they were unable to build up a trade surplus with the states because of their extensive protectionism measures including the … tariff. The main problem, that countries, such as the UK, had, stemmed from re-joining the gold standard. This was a way of doing international trade and was an early exchange rate system, it used gold as a bases to convert currency and later included strong currencies such as the pound and the dollar.
Cause and effect Pearl Harbor The attack on Pearl Harbor was a surprise, but Japan and the United States had been edging toward war for decades. Throughout the war the United States had been growing increasingly distressed about the way Japan was treating China; they aided China but never officially got involved in the war. However, American citizens were having the time of their lives in the United States. The economy was excellent; people were making money, and spending it generously. No one expected the traumatic attack from all the way around the world.