Mercantilism and World Trade
A Milestone Documents E-text
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Mercantilism and World Trade
https://doi.org/10.3735/9781961844605.book.part.017

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Abstract

The European discovery of the Americas and the sea route to the Indian Ocean realigned world trade, creating a new world economy marked by a higher degree of transoceanic and cross-continental trade, mostly carried in European vessels. The Spanish possessions in the New World were a rich source of precious metals, particularly silver. The center of New World silver production in the sixteenth century was the mine of Potosí in Peru, where drafted native men worked under brutal conditions to extract silver for Spain.

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