Global Flow of Silver The global flow of silver effected the mid-sixteenth century to the early eighteenth century economically because silver made the world go round, socially because everyone was dependent on some sort of trade, and politically because silver was a high priority to important world powers. In this document based assignment, it would have been convenient to have a document about the opinion of either a Potosi Indian or a peasant from the commercial city of Hangzhou because both points of view would give further insight into the negative side of this time periods lust for silver, and how the insanity ruined lives. Politically, World Powers craved practically nothing but silver from Asia. (Document 8) When silver was in such high demand, the business structure in many places changed dramatically. In China, the previous Bill of Credit, where citizens could purchase items with means other than money (for example, rice, wheat, or chicken) was removed and it was heavy enforced that everybody must pay for everything with silver. (Document 5) Lust for silver caused many political injustices around the world as well. Antonio Vasquez de Española, a Spanish priest wrote about the brutality existing between Spain and the Potosi Indians …show more content…
whom they were forcing to mine for silver. The Indians were treated as slaves and forced to work their lives away mining for very little to no pay. This was all because silver was in such high demand in Spain. Vasquez even reports that the rulers of Spain thought it wise to hide away a little extra silver that the Indians mined for and ‘save it for a rainy day’. (Document 6)In China, Wang Xijue, a Ming dynasty court official, reported to the emperor of the grain prices lowering even though silver was scarce. Under normal circumstances, this would be the opposite. If money was scarce, grain prices would be high, but to avoid riots and starvation and to keep his name respected, the emperor lowered the prices of grain. But the government of this time also taxed far too much and gave out far too little. (Document 3) Socially, everyone was dependent on the business of trade. Those who were wise with their money and saved it during this were better off than those who made crazy investments or wasted their money away. (Document 1) Because the Bill of credit was no longer in use, their was social chaos amongst the people of China. The way a family had been paying for their groceries for decades was now replaced, and if that family had no silver, they could not buy the groceries they needed. (Document 5) There were now stronger rivalries between countries because of the lust for silver as well. British merchant Ralph Fitch spent allot of time in the East Indies because of his travels and was able to give a first person account into some of these rivalries and the madness going on. He spoke about how Portugal would go to Japan and trade many goods in exchange for nothing but silver and then go to China and take advantage of China and buy all the luxury goods offered with the silver. This act of taking advantage of other countries was not exclusive to Portugal. (Document 4) Economically silver was very important.
Those who saved their silver, made it last longer, whereas those who spent their silver quickly on luxury goods had nothing left over and lived lives of poverty. (Document 1) Spanish scholar, Tomas de Mercado who had a good idea about the government and the way it was ran in Spain wrote that the high prices of everything ruined Spain. There was so much trade and little control over all of it. (Document 2) Economically, countries ripped each other off as well by the process of trade. What might be worth 100 bars of silver in the manufacturing country, traders would sell in another country for 300 bars of silver. This inflation of prices corrupted the government of many places. (Document
7) The global flow of silver effected the mid-sixteenth century to the early eighteenth century world economically because silver was very important and a form of pay, socially because everyone was dependent on some sort of trade, and politically because silver was a high priority to important world powers.
This book is complete with some facts, unfounded assumptions, explores Native American gifts to the World and gives that information credence that really happened yet was covered up and even lied about by Euro-centric historians who have never given the Indians credit for any great cultural achievement. From silver and money capitalism to piracy, slavery and the birth of corporations, the food revolution, agricultural technology, the culinary revolution, drugs, architecture and urban planning, our debt to the indigenous peoples of America is tremendous. With indigenous populations, mining the gold and silver made capitalism possible. Working in the mines and mints and in the plantations with the African slaves, they started the industrial revolution that then spread to Europe and around the world. They supplied the cotton, rubber, dyes, and related chemicals that fed this new system of production.
One of the principle themes in the Aztec downfall was the immense greed of the Europeans. The principle goal of every major faction in Europe was to gain power and wealth it didn’t matter from what source. Everyone from popes and kings to the lowly soldier envisioned rivers of gold and fame. Ever since they had boats Europeans have been looking for lucrative trade routes and other ways to turn a profit. The ruling monarchs of these countries contributed a great deal to this. They saw vast profits from these ventures through taxes and the customary “ Royal Fifth” which was a fifth of all profits would go straight to the King and/or Queen. Also royalty or other nobility within the country personally funded a large majority of explorations. Trading and exploration companies just helped push the trend further and made the exploitation of newly discovered lands big business. While greed was defiantly a starting point for Cortez’s expedition, it was his greed while in Central Mexico that changed the tide of history. Cortez’s first encounters with the natives in Central...
The second economic reform initiated by Lycurgus changed the currency of the country from gold and silver to a type of money made out of heavy iron of very little worth. The enormous size and weight of the new currency required a large area of storage space and a great deal of strength in order to remove the money from the storage area. This strategy implied by Lycurgus was brilliant because for the first time having an abundance of money was more of a hassle than a convenience.
Have you ever wondered what it would have been like to live in this world and country during the transition from a rural; agriculture society to an economic nation rise of an industrialized society? Well that is exactly what the people of the Gilded Age experienced. It was a time of a dramatic business and political practice. In order for the business’s to rise there soon became a great amount of separation towards the people and the country. This caused our society to experience a stressful time and made it very difficult for ideas and concepts to equal out. Throughout this specific document there are four sources that were written by different individuals. Each and every source has an explanation and an overview of the times in the Gilded Age.
I first read Jared Diamond's Guns, Germs, and Steel in the Fall 2003 based on a recommendation from a friend. Many chapters of the book are truly fascinating, but I had criticisms of the book back then and hold even more now. Chief among these is the preponderance of analysis devoted to Papua New Guinea, as opposed to, say, an explanation of the greatly disparate levels of wealth and development among Eurasian nations. I will therefore attempt to confine this review on the "meat and potatoes" of his book: the dramatic Spanish conquest of the Incas; the impact of continental geography on food production; and finally, the origins of the Eurasian development of guns, germs, and steel. In terms of structure, I will first summarize the book's arguments, then critically assess the book's evidentiary base, and conclude with an analysis of how Guns, Germs, and Steel ultimately helps to address the wealth question.
The corruption and greedy materialism widespread throughout the United States during the Gilded Age was the result of the rapid industrialization and growth of the American economy. The potential to accumulate vast quantities of wealth through politics or business attracted people to corrupt practices, and led to dishonesty in both government and private industry.
At the end of the eighteenth century, China’s goods were much desired by Britain. However, the Chinese saw Europeans as savages and did not want to trade with them. During trade, there was an imbalance in China’s favor, because the Europeans were forced to buy Chinese goods using silver. The Western Imperialists began to grow opium poppies from in India, and then smuggle them into China. China soon became addicted to the drug and spent most of it’s money on the purchase of it from the Europeans and Americans. This shifted the balance of power to be in Europe’s favor.
“In the years which followed the gold discoveries, society was not stratified. Moral and religious principles were often disregarded, and all kinds of irregular situations could be found.”3
The main problem encountered by the Gilded Age era was the administration of wealth, at least according to Andrew Carnegie. In his piece, “The Gospel of Wealth,” he proposed a solution for the abuse of wealth, and assigned duties to the rich in regards to how they should handle the responsibilities brought on by excessive wealth. However, he also addressed the concerns of the working class. He stressed the welfares of individualism and argued that it was: contemporary and innovative, enabled the affordability of luxuries to all classes, and thus ensured that money controlled by a few people would be more effective for the prosperity of the economy than it would to equally distribute national wealth amongst citizens. Carnegie intended to clarify the reasons why the newly industrialized economy and the new administration of wealth were ultimately for the benefit and harmony of both rich and poor.
... of official or meaningful government was established. The gold was easily accessible and there were no restrictions on the methods or terms of its use. This created economical problems within the state. While the gold was plentiful, there was a lack of other supplies and necessities. "Food was hard to come by in anything but hard tack -- and stuff like jerky and dried beef. Fresh vegetables were very rare."
In the time between the Civil War and World War I, there was a great economic instability. Men wanted their money to be backed by precious metals, although, they were not in agreement on what precious metal that would be. For the most part, men of high status, who owned large companies, desired their dollar to be insured with gold and only gold. Men of humble institutions, factory workers, and laborers from small farms wanted their dollar to be backed by silver and gold. Both sides have sufficient reasons for their desire of silver, gold, or both to back their money.
What these documents truly show, however, is not so much the differing views of the Han and Romans toward technology, but rather their differing views toward commoners, toward the poor, and unfortunate in their kingdom. The Han documents show glimpses of compassion; the Romans show naught but cold indifference, which begs the question, “Was it truly the “Glorious Roman Empire”?
“Catastrophe, riots, factories blowing up, armies in flight, flood - the ear can detect a whole apocalypse in the starry night of the human body (Cocteau).” China is the human body of this metaphor, as Cocteau points out the destruction and chaos opium can cause in the body of man; it does the same to the well-being of China during the early to mid eighteen-hundreds. The aim of this paper is to discuss a key issue in which plagued China in their opposition to opium trade leading up to and during the Opium War. While there are many important issues related to China’s opium problem, the scope of this paper will be strategic errors. It is important to note that if improvements were made in this field, it does not guarantee that the
...ng silver coins to benefit from their unpaid debts. This idea was called Bimetallism(Doc A) The money supply was vacillating as the population would increase(Doc C). Higher powers such as Presidents, would only help those who would keep them as Presidents, this idea drowns in political corruption and patronage. The Populist, farmer groups, brought the Civil Service reform, direct elections of senators, and a the 17th amendment. All were produced in attempt to end corruption and stop the untrustworthy money circulation. Farmers were being taken advantage of to the point that they felt they were being bought and abused (Doc D). But in reality low circulation was their issue. It was their overproduction they were attempted to dust under the rug (Doc E). J. Laurence Laughlin pointed out the fallacies of the support and reimbursement farmers 'needed' to improve.
The idea of mercantilism was for nations to export more than they important and accumulate gold or silver, but mainly gold, to make up the difference (Mercantilism, n.d.). At the heart of mercantilism was that by maximizing net exports that would lead them to the best route to national wealth (C.W., 2013). This started “bullionism”, the idea that the only way a person could measure a country’s wealth and success was by the amount of gold that had (C.W., 2013). The best way to achieve “bullionism” was by making fewer imports and much exports. By doing that they make a net inflow of foreign exchange and maximizing the country’s gold stock (C.W., 2013).