Search results
Results from the WOW.Com Content Network
Potosí's deposits were rich and Spanish American silver mines were the world's cheapest sources of it. The Spanish acquired the silver, minting it into the peso de ocho to then use it as a means of purchase; that currency was so widespread that even the United States accepted it as valid until the Coinage Act of 1857. [5]
Spanish Real de a Ocho coin (sometimes referred to as a "dollar") minted in Mexico City c. 1809. Following independence in 1821, Mexican coinage of silver reales and gold escudos followed that of Spanish lines until decimalization and the introduction of the peso worth 8 reales or 100 centavos. It continued to be minted to Spanish standards ...
The principal lubricants of the economic expansion, however, were the hard currency remittances of one million Spanish workers abroad, which are estimated to have offset 17.9% of the total trade deficit from 1962 to 1971; the gigantic increase in tourism that drew more than 20 million visitors per year by the end of the 1960s, accounting by ...
The silver 8-real coin was known as the Spanish dollar (as the coin was minted to the specifications of the thaler of the Holy Roman Empire and Habsburg monarchy), peso, duro or the famous piece of eight. Spanish dollars minted between 1732 and 1773 are also often referred to as columnarios. The portrait variety from 1772 and later are ...
The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 16th century and the first half of the 17th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe.
In the global silver trade, the Ming dynasty was stimulated by trade with the Portuguese, Spanish, and Dutch. Although global, much of that silver ended up with the Chinese, and China dominated silver imports. [211] Between 1600 and 1800 China received 100 tons of silver on average per year.
A resident of a southwest German town working on a construction project unearthed a stash of medieval coins minted around 1320 AD. The value of the roughly 1,600 coins recovered was deemed enough ...
Foreign merchants were part of the supposed monopoly system of trade. The transfer of the House of Trade from Seville to Cádiz meant foreign merchant houses had even easier access to the Spanish trade. [98] The Spanish imperial economy's major global impact was silver mining. The mines in Peru and Mexico were in the hands of a few elite mining ...