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The old piece of eight was valued at 10 reales of the new silver coin. The new 8-real coin was known as peso sencillo, the old piece of eight as peso fuerte. Foreign exchange was quoted in pesos de cambio, based on the old piece of eight, which continued to be produced in America. After this, the monetary systems of Spain and of Spanish America ...
Irigoin, Alejandra. "The end of a silver era: the consequences of the breakdown of the Spanish peso standard in China and the United States, 1780s–1850s." Journal of World History 20.2 (2009): 207–244. excerpt; Irigoin, Alejandra. "Rise and demise of the global silver standard." in Handbook of the History of Money and Currency (2020): 383 ...
A major event in early Spanish colonization, which had so far yielded paltry returns, was the Spanish conquest of the Aztec Empire (1519–1521). It was led by Hernán Cortés and made possible by securing indigenous alliances with the Aztecs' enemies, mobilizing thousands of warriors against the Aztecs for their own political reasons.
Évolués in the Belgian Congo studying medicine.. Western European colonialism and colonization was the Western European policy or practice of acquiring full or partial political control over other societies and territories, founding a colony, occupying it with settlers, and exploiting it economically.
Labor in the Spanish and Portuguese colonies became scarce. European diseases and forced labor began killing the indigenous people in insurmountable numbers. Therefore, slaves were seen only as a business venture due to the labor shortages. These slaves were forced to work in jobs such as agriculture and mining.
The Spanish Empire, [b] sometimes referred to as the Hispanic Monarchy [c] or the Catholic Monarchy, [d] [4] [5] [6] was a colonial empire that existed between 1492 and 1976. [7] [8] In conjunction with the Portuguese Empire, it ushered in the European Age of Discovery.
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. Prices rose on average roughly ...
While initially a crop of the Indian subcontinent, the cultivation of sugar in the New World had significant effects on Spanish society. New World sugar cultivation added to the growing power of the Spanish and Portuguese economies while also increasing the popularity of slave labor (which had severe impacts on African, American, and European societies).