Impact of the overseas Empire on Europe Flashcards
What were the effects of gold and silver on the Spanish economy?
-Of the treasure that arrived in Spain 25% went to the Spanish treasury.
-Used to make coins to allow extensive, excessive trade.
-Boosted the economy of other countries by buying ready-made goods ( English cloth industry thrived ) but didn’t invest in developing machinery to produce goods of their own.
-Demands for goods increased - Spanish traders could afford to pay high prices for what they wanted, so foreign traders put up their prices - meaning Spanish traders did the same when selling products in Spain.
-Led to inflation as prices were also raised for ordinary people.
Who were privateers?
-Private pirates who were paid to attack Spanish treasure ships in the 1520s.
-Mainly from England and France.
How did Spain stop privateers and pirates?
-Fleets were developed to travel together with convoys, protected by fighting ships called galleons.
-Two convoy systems were created. The New Spain (sailed to Mexico) and the Tierra Firma (sailed to South America).
Convoys and fleets during the war with france
-Galleons developed and built
-Galleons patrolled sea routes and sailed with unarmed ships to protect them from attacks
-Because Galleons were heavily armed they began carrying Crown bullion
-Spain developed a treasure fleet system where two main fleets would sail protected by armed galleons
-Spain began taxing goods carried on these fleets but some staff smuggled goods on board untaxed and made fortunes
What was the impact of trade on Seville?
-Port in South of Spain - hub of trade with the new world
-All goods imported were required to pass through Seville (due to the Case de Contratacion).
-Merchants from all over Europe traded in Seville to buy goods e.g. cotton and tobacco.
-Seville was about 100km inland, up the river Guadalquivir which made it difficult to attack.
-Became the most prosperous city in the western world.
The beginning of the Slave trade
-Bartolome de las Casas had suggested replacing native labour with black slave labour but later said all slave labour was wrong
-The problem was that due to the Treaty of Tordesillas the Spanish had no claim over Africa and had buy slaves from the Portuguese
-Similarly the Portuguese could not sell slaves directly to the Spanish in the New World
-In 1518 they began issuing Asientos, licenses to supply a specified number of black slaves to the New World
-The Asientos were auctioned off to wealthy merchants who could then sell black slaves in the New World at a profit, becoming extremely wealthy
Why was Consulado de Mercaderes needed?
1503 - ordered by Isabella.
-1555 - Seville still had monopoly over trade with the new world.
-All goods imported were required to pass through Seville’s Casa de Contractacion.
-Merchants from all over Europe had to travel to Seville to buy/sell good to the new world.
-founded due to growing pressure from the merchants to be involved in the work of Casa de Contractcion.
What was the Consulado de Mercaderes?
founded 1543
-Merchants wanted a say in the Case de Contraction
-A merchant’s guild which enabled both organisations to control most of the trade with Spanish colonies.
-Their control of the economies in Spain and the New World grew.
What were asienetos?
-Due to the Treaty of Tordesillas slaves from Africa could not be directly acquired.
-Merchant were given licenses (asienetos) to supply slaves bought from the Portuguese.
The asienetos were also sold to the highest bidder.
What was the role of the Case de Contratacion?
-Established in 1503 by Queen Isabella.
-Collected all colonial taxes and duties. 20% tax was charged on precious metals.
-Approved all voyages and expeditions, using secret information about trade routes.
-In theory no Spaniard could sail without their approval.
-Licensed captains of ships who attended navigational schools.
What did Portugal gain in the XV and XVI centuries?
Portugal went from a minor power at the margin of Europe to the trading Empire with a monopoly of the trade with the far East.
Who gained in Portugal from Exploration?
-the nobility
-trading agents
-the monarchy
yet
-late 16th century Portugal had lost its independence, becoming part of an all Iberian Kingdom under Phillip II.
-Portugal remained under Spanish rule for 60 years (late XVI to mid XVIIc).
-Phillip II - son of Charles V of Spain/HRE and nephew of John III of Portugal.
-Beginning of the decline of Portugal.
How did the overseas empire affect Portugal economically?
- Significant wealth from trade, especially in spices, gold, and slaves
- Lisbon became a major European trading hub
- Riches from Brazil’s sugar, gold, and diamond exports boosted the economy
- Enabled financing of wars and cultural patronage
What was the religious impact of Portugal’s overseas empire?
- Spread of Christianity was a key colonization motive
- Facilitated widespread conversions in Africa, Asia, and South America
- Jesuits played a prominent role in missionary work
- Reinforced the Catholic Church’s global influence
What were the social impacts of Portugal’s overseas empire?
- Rise of a wealthy merchant class
- Influx of diverse cultures into Portugal
- Social tensions and inequalities in colonies
- Exploitation and marginalization of indigenous populations
- Profound social implications of the transatlantic slave trade
