Silver Trade

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Silver Trade by Mind Map: Silver Trade

1. Europe

1.1. Sent out conquistadors, explored around the Cape of Good Hope and set them self's up and were able to create a link for future maritime trading of silver and other goods.

2. Americas

2.1. But did not export silver until conquistadors came to the Americas. Latin America was able to mine out 150,000 tons of silver over the time span of 1500 to 1800

2.2. sending in silver to Ming empire,

3. Soon, around 150 tons of silver began to travel between Europe and Asia (Annually)

4. South America

4.1. A region of the Andes, located in Bolivia. With the discovery of Silver, the population atop the mountain exploded to 160,000. The mountain itself was thought to have produced up to 60% of all the worlds silver.

5. China

5.1. ultimately all silver from all over the world went to China

5.1.1. silver cost twice as much in China compared to Spain this is because the chinese could manufacture the silver into other objects (jewlery, dinnerwear, ect.)

5.2. China began to use silver as a modern currency compared to paper money. They made this change because paper money was beginning to be over issued to the public and cause the money to loose its value

5.3. China's population was about 1/4 of the worlds total, and its tribute system also invited more people. And with a large amount of silver and the large population, this caused a boom in silvers value for china.

6. Japan

6.1. exporting about 40% of the worlds silver

6.2. Exported 200 tons of silver yearly, but this rate declined in the late 17th century due to the abundance of silver in the state, which caused major inflation, silver began to loose its value.