Socially and economically, the global silver trade from the mid-16th century to the 18th century had a negative effect on the rest of the world. The trade’s earlier benefits did not last long, as it eventually weakened the Spanish kingdoms and Ming dynasty. The dependence on trade and the uneven disbursement of the product lead to the fragility of the economics of those governments that depended on silver. The economic effects can be seen in document 2, 3, 4, and the social effects of the silver trade can be seen in documents 5, 6, 7, and 8. According to the documents, the middle man profited the most from the dependence on silver, while the countries importing and exporting silver suffered massive damages. Leading up to the silver trade, the majority of Spanish coinage …show more content…
By the 1500s, Europe had destroyed almost their source of fur. The occurrence of the “little ice age” resulted in panic from European countries and a ridiculously high demand for furs. This made fur prices rise and Merchants hungry to sell them. This is similar to when China began to use silver as their national currency, which made merchants eager to trade with them. Different from one another, the fur trade was incredibly competitive in the Americas. The majority of trapping, processing, and transporting fur was done by Native Americans, similar to how Native Americans did the majority of the work on silver mines. Europeans would then receive the fur from Native Americans and would sell said fur worldwide, like merchants had done previously with silver. The Siberian fur trade was also similar to the silver trade in a way. The Siberian fur trade brought wealth to Russia, but in turn Native Siberians became dependent on Russian goods they previously did not needed, like the Europeans did with goods they received from the silver trade. The source of this fur also began to die out and became rare, like silver did because of China's high
ur trade of the early 19th century was essential in expanding and developing economy, industry, and the international trade network of the Pacific Northwest and what is modern-day Washington State. British, Russian, and American trappers all developed a massive system of trading and trapping furs in the North West and developed two separate industries in the coastal, ship-based trade and the land-based continental trade. Several large companies were formed over the duration of the period, and with their massive capitol and reach, were able to shape the industry and help it stretch across all of North America. One of those companies, The North West Fur Company, was pivotal in developing the land-based fur trade in the northwestern United States
The French would pay Indians for the furs with things like clothing, alcohol, guns, ammunition, glass beads and pots. The two created a very lucrative partnership, the natives were dependent on the French and the French were dependent on the natives. The French was responsible for
Another contributing factor was the accumulation of wealth, especially among the merchants involved. Empires and smaller states that directly were benefited from the trade sustained the commerce. . Also with the invention of new technology
From 1500 to 1750, silver production in the world was led by Spanish Colonial America and Tokugawa Japan. Silver trade was lead through a connection between four great continents, but there was no direct trade link between America and Asia. In that time, limits were placed on the amount of silver spent, prices increased and decreased depending on the supply of silver and silver production led to more importation and exportation of goods, as well as new ways to pay also developed due to silver production. In the 1570s, the Ming Chinese government stated that all taxes and trade fees should be paid in silver. Most silver flowed over the Pacific, out of Acapulco, to Manila, ending in China.
Though the exchange of gold nuggets and gold dust has boomed the economy and changed trade, there were also very significant trade through buying claims and trading supplies during the Klondike Gold Rush. It has been reported that over 1,139,000 (1000 million in today’s money) dollars worth of gold has been brought back from the Klondike. This mass response has led to hundreds of thousands of prospectors to the Klondike region. However, the average prospector spent around 342 dollars more than the money an average miner had earned, causing a decline in economical profit through the Klondike Gold Rush. Selling claims contributed
CIV 102: Essay Outline Name: Dawar Fuad Section: 2 Question: Compare and contrast the fur trade in North America with the fur trade in Siberia. Context: In the early modern era, the process of global commerce started to gradually appear between the prominent empires and states. The merchants had focused on only some specific types of materials to trade with, and one of the most profitable materials was the “soft gold” fur. Europeans and Russians were at the top of this trade process because they had a giant access to a numerous number of fur-bearing animals in their colonies in North America and Siberia.
They still were tanning a buffalo hide on the reservation. Although they were not allowed to kill or have any weapons so they had to go against the law and find a way to kill and get the buffalo. They were tanning it to make coats, shoes, clothes, The westward expansion helped people in many ways from keeping their culture going or starting a new one. This was a big step up from when they had to do everything on their own now they could build cities and own farms and cattle.
The odds The time period of 1865 to 1900 was an era called the Gilded Age. The citizens of America saw a change in the way the country operated. The country started to become more industrialized based, while the agriculture industry decreased. Due to these changes in the economy, industrial workers and farmers struggled.
The Atlantic world from 1492 to 1750 experienced economic and social transformations due to new contacts among the major continents that bordered the Atlantic Ocean. Western Europe, Africa, and the Americas saw dramatic economic and social changes caused by the slave trade, the increase of trade, and the Europeans “discovery” of America. The Atlantic world experienced great Economic changes created by the new global connections established between continents that allowed the expansion of trades, slave trades, and the claiming of land. Due to the new found connections the participants of trade all over the world brought home new goods, mainly from Europe, and materials previously never seen before or goods they were in need of.
Mining of this silver created trade links between the Americas, Europe, Asia, china and other countries which in turn led to the development in the economic growth on a global scale. This global economy began with the establishment of commercial and transportation centers in newly developed cities in the Americas in order to facilitate the extraction and transportation of the silver from the mines. Large estates known as haciendas to house colonists from Europe were established. They also developed a new agricultural economy in order to supply the countries in the east with other needed products such as sugar, tobacco, coffee, cotton. These raw materials were shipped to Europe and were used to produce the goods that were demanded by
Both of these contributed to a more global commerce since new crops could now be introduced to the Old World and silver was highly valued all over the world. The European settlers were aware of the aforementioned facts and took advantage of the rich lands that could be found in the Americas. They farmed extensively, and the Native American techniques for harvesting in difficult land helped them. Furthermore, knowing that South America had rich silver deposits, the mined for the valuable material to export it for profit. This remained mostly unchanged during this time since Europeans had no need to look for other sources of profit.
Due to the fact that only Native Americans were in the Oregon Territory, and they used animal products efficiently and did not hunt unless it was necessary, the animal population was very high. The main animal hunted by trappers were beavers. Their fur had become a commodity due to the near extinction of the creature from over hunting. “The possibility of profiting from the western beaver trade had led,”(McNeese OL) many to the territory in search of wealth and fame.
The increased flow of silver during the mid-16th century to the early 18th century caused social and economic effects in all regions connected with the trade by increasing the integration of Europeans in the globalization of world trade, while creating greater economic opportunities and causing growing social divisions within China. It would help to have a document from a Japanese merchant, to see if the effects of the silver trade affected the Japanese economy as much as it did the Chinese and Spanish. It would be nice to see a document from a Chinese farmer/peasant to see if the increased flow of silver affected their lifestyles as Document 3 or 5 suggests. The economic impact of the global flow of silver in Spain during this time period
Most trading posts were lead by European traders, because there was not much of tree land left in Europe, so there was less fur in the area and that lead to trading in Canada. Beaver fur was the most valuable, because it was the best fur for making felt. To trade, groups such as the First Nations and the Inuits, would bring there furs to the trading posts, and trade for there goods. Later a group of men at the trading posts, decided to go look for there own furs, and they were called the coureur de bois. The coureur de bois were french-Canadian’s that traveled through New France and North America.
French Exploration in the New World French Exploration began about forty years after Columbus sailed to the new world. They hoped to find a passageway that would get them to the east to trade, through America, Along with spreading Christianity with the natives and claiming land. The French found that Furs were a large thing on the trade market. So fur trading became a huge part in French History in America.