ipl-logo

Negative Effects Of The Flow Of Silver Dbq

676 Words3 Pages
bulb-icon

Recommended: Conclusion to mercantilism

Jessica Scano
Mr. D’Auria
10 AP World History
Flow of Silver DBQ

The booming growth and development of silver during the mid-16th century to the early 18th century had various social and economic effects in many European, Indian, Japanese, and Chinese societies. The growth of silver in China and Japan made them ‘hot-spots’ for other nations. Britain, Portugal, and Spain plentifully benefitted from trading silver (doc 7, 4, 2) whilst other nations had discrepancies over the topic because it caused corrupt governments (doc 1, 3, 5, 6, 8).
The flow of silver had many negative effects as explained in documents 1, 2, 3, 5, and 6. Ye Chunji explains that the supply of silver was low. The “frugal” man (poor) couldn't get enough since they were so used to tradition ways of obtaining profits such as …show more content…

However, the “extravagant” man (rich) couldn’t get enough. It can be assumed that the wealthy were leaders of the government (doc 1). One can comprehend that Chunji gained his status through China’s merit-system, as a council was of high social status. Contributing to the poor nature of the flow of silver, Tomas de Mercado, a Spanish scholar, noted that “high prices “ruined” Spain. In other words, he explained how the market was inflated (doc 2). Wang Xijue expands on this by explaining how the government was corrupt. The economy did gain a large accumulation of wealth from the rise of silver, but the government official didn’t give enough of it out. As a result, people cannot pay their taxes and the price of grain is rising (doc 3). Also, the government was unable to pay back the people of their taxes because of the “scarcity of silver”. This is similar of what was mentioned by Xu Dunqiu Ming. Customers of dye shops used to be able to pay for items with “rice, wheat, soybeans, chicken, and other fowl”. Now with the rise of

Show More
Related

Silver Trade Dbq Essay

755 Words | 4 Pages

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.

Read More

Mansa Musa's Influence On American Culture

371 Words | 2 Pages

Along the, he gave so much gold out to people, even the poor, that the

Read More

Silver Trade Dbq

1183 Words | 5 Pages

This is driving some farmers out of business. This also leads to a lower social class with no silver to survive (Doc. 3). Document 5 tells us how the lower class in China is suffering because of the dominance of silver. They used to be able to buy things by making “in-kind” purchases (trading goods for goods). Now they must pay with silver.

Read More

The Spanish Empire Silver And Runaway Inflation Summary

175 Words | 1 Pages

In this short video clip The Spanish Empire, Silver, & Runaway Inflation: Crash Course World History. I think It talked a lot about silver. The Aztecs weren't the first impressive polity in mesoamerica the honor would go to the olmecs to the mayans but the were probably the greatest. In 1480 the aztecs formed out of an alliance of three major cities in modern day mexico .

Read More

How Did Foreign Imperialism Affect The Qing Dynasty

312 Words | 2 Pages

With the newly established foreign trade, tea and silk were in great demand with exports increasing over 500%. Farmers saw how much the tea and silk industry was flourishing and switched from agriculture, leading to the appreciation of the price of food. In contrast, China’s import of western machine-made fabrics rose from 730 thousand pounds before the Opium Wars, to an incredible 2.3 million pounds by 1864, putting the traditional and pricier hand-made textile industry out of business. Many workers from other industries such as boatmen had also lost their jobs. With the widespread of poverty from the soaring food prices and falling employment, the Chinese economy took a great hit from foreign

Read More

Barbarian Empire Research Paper

210 Words | 1 Pages

The Empire had to excessively tax their citizens to help pay for the high military expenses from all the wars. The government began making more coins with less silver to help make up for the lack of money, this led to inflation.18 They had to resort to recruiting

Read More

Labor System 1450 To 1750

928 Words | 4 Pages

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.

Read More

How Did The Imperial Crisis Affect The Roman Empire

170 Words | 1 Pages

Those who desired to become emperor needed the support of the soldiers. As a result, they increased the wages of soldiers or offered bribes. To pay for these expenses, however, these emperors raised taxes, which hurt the economy and the common people. Furthermore, ongoing wars harmed the economy by making trade dangerous.

Read More

Wealth And Happiness In Voltaire's Candide

884 Words | 4 Pages

Wealth and money is seen everywhere. Once Candide visited the city he was not the same. Even though Pangloss's philosophy

Read More

Summary Of Jung Chang's Wild Swans: Three Daughters Of China

1083 Words | 5 Pages

It also included widespread fighting among warlords. A quote that represents how hard the Great Depression was for industrial business owners is, “but it was the time of widespread fighting among warlords, who all levied heavy taxes. This, combined with the effects of the Great Depression, made it an extremely difficult time to run a textile factory” (Chang 104). Also, prior to the establishment of the Renminbi becoming the national currency in 1935, there were many different forms of payment. For example, in the book, it is mentioned that the only way to get her brother out of prison was to raise, “1,000 pieces of silver” (Chang

Read More

Fujiwara Family Essay

1072 Words | 5 Pages

"Younger members of the imperial family and lower-ranking aristocrats dissatisfied with the Fujiwara monopoly of high government officials would take up posts as local officials in the provinces, where they settled permanently, acquired lands of their own, and established their own power." They were able to do this through flaws in the taxing system. Allowing people who usually would not have a lot of prestige to gain mass amounts of power. Moreover there were other ways that you could avoid taxes, one of them came when, Japan found new land that had not yet been cultivated,"But incentives had to be offered and so the new land was excluded from taxation and allotment under the Taika reform. ”(Morton W. Scott, 44) With these new incentives people rushed to claim the nontaxable land, creating rice farms where they could reap the profits without ever paying taxes for it.

Read More

Byzantium: The Decline Of The Roman Empire

238 Words | 1 Pages

As the peasants were in no position to pay the tax, this lead to a dramatic reduction to the states revenue. The emperors also did not enforce a series

Read More

China And Japan Case Study

1605 Words | 7 Pages

From the mid-18th Century, China had operated under the so-called “Canton system”, which routed all Western trade through the port of Guangzhou. A small group of traders known as the Cohong were granted a monopoly on trade with Westerners, and acted as intermediaries for the imperial Qing government by collecting tax and duties on trade they undertook. Trade could only occur in the “thirteen factories”, a neighbourhood of warehouses and offices next to the port, that where the Western were confined. Strict restrictions saw Chinese nationals banned from borrowing money from or employing “foreign barbarians”, and further Chinese traders were banned from getting information about the market situation from Western traders. Westerner traders were banned from learning Chinese.

Read More

What Factors Led To Industrialization In Europe

730 Words | 3 Pages

This excess supply of precious metals began to spread throughout Europe through contraband movements and debt repayments. Due to demand, the inflation of commodities had risen nearly fourfold before the 17th century (citation). Consequently, entrepreneurs had benefitted from this inflation as their products price had risen yet they kept their wages to employees fixed. This allowed for greater profit that could be used to finance manufacturing and development at a later

Read More

Opium War Causes

915 Words | 4 Pages

These illegal sales avoided paying taxes altogether to the Chinese government, and hence weakened China economically as it was losing an important source of revenue. Moreover, due to the lack of productivity in the country with one-third of its male population being opium addicts, China’s economy was on fast decline. The Chinese were spending their money on

Read More

More about Negative Effects Of The Flow Of Silver Dbq

Related Topics

Open Document