Socially from the desire of luxury. Merchants from
June 3, 2019
Socially and economically, the flow of silver sprouted from the desire of luxury. Merchants from countries, such as China, would return with only silver. Taxes had transformed into having to be paid in silver due to the high demand of it. Although silver had a positive social consequence towards the Chinese, neighboring countries, such as Spain, were economically impacted due to the discovery of the silver mines which had kick-started the global trade.The silver had took a toll on countries, like Spain and China, in a way in which benefits arose, but problems followed behind. A decrease in economics occurred in China around 1593. De Mercado discussed silver as being the currency, a cause of which ruined Spain and resulted in the Asian commodities being paid (Doc 2). Taxes were also desired to be paid using silver, but since the low dispersion of silver prices of crops are being decreased (Doc 3). Since money is worth so much, the price of product goes down. A man with just a bar of silver would have more than a man who would have a thousand and still never have what’s needed (Doc 1).Chinese, as well as Portuguese, merchants come from China with luxury goods such as: gold, silk, and copper and go to Japan to bring in return only silver (Doc 4). China refused to trade with anything other than silver (in return). The main item in China’s economy became silver, and paper money slowly begun to be replaced. Vázquez discusses on the desire of silver on Spanish merchants (Doc 6). He mentions the million coins of silver taken from mines and about the large amount of silver being smuggled out to avoid taxes and registry fees to places China and the Philippines. European traders take the silver to China as well as gold in exchange for materials to supply luxury. They admit in document 8 that this is the only thing of solid worth they get from Asia.?Silver was an important part of the economy but only because of greed and luxury. Governments wanted silver so bad it became the main currency. Silver was smuggled out of mines to avoid taxes. Suppliers of silver were exploited by their consumers need for silver.