HIST1055 Lecture Notes - Lecture 6: Llama, Ducat
Document Summary
What big transatlantic and global trading systems take shape after new world. Extremely valuable - intrinsically and for trade. Silver - czech republic, eastern europe, japan. Durable, about same size, hard to counterfeit. 1550-1880 ce - 150k tons of silver mined in americas. More than 80% of silver and more than 70% of gold produced in the world at this time. Cause huge movement to americas and changes landscape/populations. Drove many of the expeditions to the new world. In order to get wealth from mining you need to spend a lot. A lot of money leaks out from systems. Why spain crown was so poor even when they were conquering everything. Coins need to have certain amount of metals to make certain amount of value. Immensely contested system - no real authority or control. Need to provide for people working for mines.
