New World Benefits Flashcards
by 1556, how much silver had entered Spain from the new world?
11.9m ducats of silver
which areas of spain grew due to new world wealth?
seville and Andalusia
how did seville’s population grow between 1533 and 1559?
1533 - 30,000
1559 - 90,000
what allowed seville to have a monopoly on Spanish trade?
1503 casa de contracion
how did northern Castile benefit?
8% of transatlantic ships were built in northern Spain from 1520-40
why did Basque regions flourish?
Basque navigators were highly sought after
what opportunity did the new world present for Spanish?
chance of social mobility for spaniards
by 1556, how many spaniards had migrated to the new world?
150,000 many of them poor - alleviated pressures of a rising population
why were many spaniards enticed to go to new world?
- saw that Pizarro, who began as an illiterate labourer, had become one of the most famed conquistadors, enticed many of lower classes
- enhanced status of both Castile and Aragon
how did new world wealth attract foreigners?
huge wealth incoming from new world attracted foreign investments from bankers eager for silver e.g. fuggers
how did foreign investment benefit Spain?
- personal success for Chalres as he was able to extract money from New World resources and foreigners through loans
- superficially, allowed crown authority to extend as increasing revenue allowed Charles to pursue other goals e.g. FP
how could the new world benefit religion?
great to opportunity to spread and strengthen catholicism
how many conversions of native Mexicans were there by 1534?
4 million conversions
how did it help religious unity? why was this important?
- increased sense of religious purpose and unity as a nation
- from 1520s religious unity important as Spain became leader fighting against reformation in Europe
how did bullion negatively affect the economy?
had inflammatory impact on the economy
what were the other facts for inflation?
juros bonds. rising population and food shortages
how did inflation harm Spain?
- badly damaged economy and led to widespread poverty
- 1547 inflation so bad Philip wrote to Charles about level of poverty
what did the new world demand undercut?
the weak spanish agricultural system
what were grain imports like in 1556?
- by 1556, Castile was a net importer of grain, but Andalusia exported grain
- shows new world increasing regionalism of spain
what did casa de contracion do to Aragon?
damaged aragonese economy who were unable to trade w/ Indies until 1596
what was the increasing wealth castile undermined by?
constant short term financial needs of Charles who indebted new world bullion to foreigners
what % of silver went straight to foreign bankers?
40%
who dominated Castilian revenues?
Foreigners
what illusion did the economy create?
economy created illusion the new world wealth brought economic benefits but was undermined by weakness of Castilian industry
