Why was the ransom of gold and silver not enough to satisfy the spanish?

Why was the ransom of gold and silver not enough to satisfy the Spanish? Gold and silver did not satisfy them because they were greedy. They wanted their land and the gold.

What did the Spanish do with the gold and silver?

Almost overnight, Spain became very rich taking home unprecedented quantities of gold and silver. These were stolen from the Incas and the mines that the Spanish came to control. The gold was used by the Spanish monarchy to pay off its debts and also to fund its ‘religious’ wars.

Why did Spain desperately need that much gold from the Americas?

Because Spain had almost no industry they had to buy goods from other country’s. And because gold was used to make coins Spain desperately needed it. Spain also needed to pay for it’s protection against other country’s. Without money Spain was a vulnerable poor country.

What happened to Spain’s gold?

Originally Answered: what happened to all the gold that Spain mined from the New World? Spaniards used the gold to buy goods and services from England, France, and the Low Countries. Spaniards ended up with stacks of dry goods, other countries ended up with the gold, factories, and skills.

How much gold and silver did Spain take from the New World?

Between 1500 and 1650, the Spanish imported 181 tons of gold and 16,000 tons of silver from the New World. In today’s money, that much gold would be worth nearly $4 billion, and the silver would be worth over $7 billion.

What impact did gold and silver found in Americas have back in Spain?

American bullion made up nearly 90 percent of Spain’s state revenue, so that any disruption in the arrival of silver from America plunged the government into crisis. b. The apparent dependence of Spain on its bullion supply caused European bankers to avoid loaning money to the Spanish government.

What happened to Spain as a result of the importation of gold and silver from the Americas?

Those shiploads of gold and silver just circulated more currency into the market, which lowered the value of the existing forms of currency in Spain. The American bullion put major pressure on the Spanish economy, and this pressure was only increased with the new costs that came with the empire.

Why was the price revolution so damaging to Spain?

From an economic viewpoint the discovery of new silver and gold deposits as well as the productivity increase in the silver mining industry perpetuated the price revolution. When precious metals entered Spain, this influx drove up the Spanish price level and caused a balance of payments deficit.

Why was gold important to explorers?

Gold: Rumors of gold made explorers believe they could get rich quickly. They believed the pay off would be huge. If an explorer found new land, he was paid in gold and riches by the King and Queen of his country.

Why was the discovery of gold and silver in North and South America so significant what was going on in Europe at the time?

The steady increase of gold and silver in Europe brought about what historians call The Price Revolution. People on fixed incomes were impoverished, it became more advantageous to owe money than to be solvent. Money lost value every day it stayed in one’s pocket, so the only way to prosper was through trade.

Where did Spain find gold and silver in the New World?

The Spanish worked alluvial gold deposits in the Caribbean, Mexico, and the Andes (especially in New Granada). Spanish settlers located all the main silver-bearing zones of Latin America in the sixteenth century. Some deposits of silver ore had been known to the native cultures.

How much Incan gold and silver is melted down by the Spanish?

The Spanish, fearful of Atahualpa’s generals, murdered him anyway in 1533. By then, a staggering fortune had been brought right to the feet of the greedy conquistadors. When it was melted down and counted, there were over 13,000 pounds of 22 karat gold and twice that much silver.

What two reasons did the Spanish have for deciding not to focus on their northern borderlands?

What two reasons did the Spanish have for deciding not to focus on their northern borderlands? The Spanish wanted gold and a Mythical “Fountain of Youth” and found none of them so they did not focus on the northern borderlands.

How did silver effect Spain?

In the Americas, silver mining at Potosí led to the deaths of eight million Indians. … The devaluation of silver in China had a devastating financial effect on Spain as well — a fact that allowed its European competitors to gain the upper hand in a new global trade focused on sugar, tobacco, gold, and slaves.”

What impact did the global silver trade have on world history?

Terms in this set (5) What impact did the global silver trade have on world history? The global silver trade was the first direct and sustained link between the Americas and Asia and initiated a web of Pacific commerce that grew steadily over the centuries.

What happened to the Aztecs gold?

As Mexico’s National Institute of Anthropology and History (INAH) announced last week, the precious metal was probably dropped in a canal by Spanish invaders as they retreated from the Aztec capital of Tenochtitlán on June 30, 1520, the Noche Triste, or “Night of Sadness.”

What impact did gold and silver found in the Americas have back in Spain quizlet?

The consolidation of Spanish power over the Iberian Peninsula. What impact did gold and silver found in the Americas have back in Spain? A golden age was spurred, in which art and literature flourished.

What impact did American gold and silver have on European economies support your answer?

What impact did American gold and silver have on European economies? They stimulated European economies, creating a price revolution, inflation, and eventually new economic policies such as mercantilism.

What was the effect of the gold and silver coming from its vast empire made Spain incredibly wealthy?

Cause: The gold and silver coming from its vast empire made made Spain incredibly wealthy. Effect? Effect: Spain built a powerful army and navy, and its monarchs and nobles became patrons of artists, leading to a golden age in arts.

How was silver important to the Spanish economy in the 1600s?

Spaniards at the time of the Age of Exploration discovered vast amounts of silver, much of which was from the Potosí silver mines, to fuel their trade economy. Potosí’s deposits were rich and Spanish American silver mines were the world’s cheapest sources of it.

How much silver did Spain take from the New World?

After they conquered America in the 16th century, the Spanish exploited the considerable silver resources of Peru and Mexico. Every year, nearly 300 tons of silver were extracted from New World mines.

Why did price of gold increase?

Gold prices rose on Tuesday, as rising inflation fears dulled risk appetite and boosted demand for the safe-haven metal, although an advancing U.S. dollar limited bullion’s gains.

What were the effects of the Price Revolution?

Significance of the Price Revolution

During the revolution, precious metals from America were extracted in bulk and traded at lower prices than crafted or agricultural products. The mass exodus of Spanish to America led to increased inflation and the near collapse of the Spanish monarchy due to bankruptcy.

What were the problems that weakened the Spanish Empire 4?

What problem helped to weaken the spanish empire? The inflation or increase of taxes, spain exporting goods to other countries which made spain’s enemies rich, and the dutch revolt weakened spain. What king became France’s most powerful ruler and boated “I am the state?” You just studied 119 terms!

How did gold motivate the Spanish?

Gold was also why Hernan Cortes journeyed to America and conquered the Aztecs. The Spanish needed gold because they were running out and after Columbus reported some in the New World they knew that was where they could get it which is why I think that gold was the main reason for Spanish exploration to the New World.

What is the relevance of the concept God gold and Glory in relation to the Spanish colonization?

Historians use a standard shorthand, “Gold, God, and Glory,” to describe the motives generating the overseas exploration, expansion, and conquests that allowed various European countries to rise to world power between 1400 and 1750.

What were Spanish explorers who were looking for gold?

The Spanish Conquistadors were some of the first men to travel to the new world. They got their name from being both conquerors and explorers. They were mostly in search of gold and treasure.

What caused the global silver trade?

Contributing factors to the patterns of the global silver trade between 1550-1800 include large cities and ports, economic demand, and the use for government tax . … Cities and/or ports in South America, the Philippines, and China imported and exported silver, connecting the globe and spreading silver worldwide.

Why was the discovery of American silver so important?

The discovery of large amounts of American silver became incredibly important as the new global currency. In Europe, it allowed massive economic growth and allowed Europe to buy Asian imports it could not have otherwise afforded.

Why did Christopher Columbus want gold?

To Columbus, driven by the search for the wealth that would be a tangible indicator of a successful voyage, the discovery of vast quantities of gold would represent both a personal reward and a vindication of his vision.

What were the reasons why the Spanish colonists settled in America?

Motivations for colonization: Spain’s colonization goals were to extract gold and silver from the Americas, to stimulate the Spanish economy and make Spain a more powerful country. Spain also aimed to convert Native Americans to Christianity.

What were the effects of Spanish colonization in the Americas?

When the Spanish conquered the Americas, they brought in their own religion. Hundreds of Native Americans converted to Christianity. Churches, monasteries, shrines and parishes were built. This was one of the Spanish’s main goals in colonization, as well as giving Spain more power.

How did gold and silver mining in North and South America impact Spain’s economy?

The effect of such a large influx of precious metals would have a profound effect on any Economy. The Spanish Crown spent a lot on their Military which had a limited gain for their Economy.

What is the name of the Incan sun god?

Inti, also called Apu-punchau, in Inca religion, the sun god, he was believed to be the ancestor of the Incas. Inti was at the head of the state cult, and his worship was imposed throughout the Inca empire.

What impact did gold and silver found in Americas have back in Spain?

American bullion made up nearly 90 percent of Spain’s state revenue, so that any disruption in the arrival of silver from America plunged the government into crisis. b. The apparent dependence of Spain on its bullion supply caused European bankers to avoid loaning money to the Spanish government.

How much gold and silver did Spain take from the New World?

Between 1500 and 1650, the Spanish imported 181 tons of gold and 16,000 tons of silver from the New World. In today’s money, that much gold would be worth nearly $4 billion, and the silver would be worth over $7 billion.

What reasons can you identify that help explain why the Spanish conquered the Aztec and the Inca so easily?

The Spanish were able to defeat the Aztec and the Inca not only because they had horses, dogs, guns, and swords, but also because they brought with them germs that made many native Americans sick. Diseases like smallpox and measles were unknown among the natives, therefore, they had no immunity to them.

Which of the following reasons best explains why the Spanish defeated the Incas?

Which of the following reasons best explains why the Spanish defeated the Incas? The Spanish had significantly more soldiers. The Spanish had horses and better equipment. The Spanish used catapults to destroy Incan forts.

What role did the Spanish borderlands play in Spanish relations with England?

What role did the Spanish borderlands play in Spanish relations with England? The Spanish and English got into conflict. The Spanish claim of Florida was south of England’s claims. Spaniards began their ambition of spreading north which would infringe on English land.

Why was silver so important to the Spanish Empire?

Spaniards at the time of the Age of Exploration discovered vast amounts of silver, much of which was from the Potosí silver mines, to fuel their trade economy. Potosí’s deposits were rich and Spanish American silver mines were the world’s cheapest sources of it.

Why did Spain want silver?

-Spain spent too much of it’s collected silver to fight wars against emerging capitalist powers in NW Europe.

How did the trade of silver change the world’s economies?

One major effect was the introduction of cash crops to the new world to boost Europe’s economy. Another major effect was New World and Japanese silver created a world trade network and silver-based currency. Slavery also became a major part in the Exchange and was efficient in silver mining and cash crop farming.…