Government Regulation Of Silver In The 1500's To 1700s

Throughout the 1500’s to 1700’s, silver had become increasingly valued and desired by many countries. Europeans generally measured the wealth of a country by how much silver it had accumulated, as most western European countries followed mercantilist economic policies. Therefore, many countries set policies designed to control the system of silver within and around their borders. Due to this new global flow of silver, the world experienced various social and economic effects. Socially, silver promoted changes in government regulation, the ways Europeans displayed their wealth, and relationships between countries. As for the economy, many countries experienced inflation, an increased use of slaves, and a growth in trade and wealth as a result of the rise of silver.
In society, the surge of

The purpose of this new standard is to advise against the upper class’s spending on luxuries such as weddings in order to maintain the government’s regulation of silver and prevent overuse. As silver was highly valued and growing increasingly popular, it can be understood that the government would impose a restriction on its use to limit the access that society had to it. The reason being that the empire encouraged consumers to spend silver wisely instead of foolishly, such as on weddings, given the government’s adherence to Confucian values. An additional argument that contradicts the government’s limit on wedding expenses was the requirement of dye shops in the city of Hangzhou that bills must be paid with silver acquired from a moneylender. Seeing as the vendors profited from being paid in silver, it is logical that they would promote the use of the currency despite the restriction on luxurious spending. However, the government would disapprove of the vendor’s requirement as the bureaucracy preferred to limit the public’s use of silver to prevent its depreciation. The relationship between the governments limit on silver spending and the shops