Silver drain ap world history

Chapter 14 - Economic Transformation

It was the silver trade, not the Eurasia spice trade, that gave rise to a truly worldwide network of commerce. Silver, according to one historian, "traveled across the world and made the world go round." 12 The discovery of extremely rich silver mines in Bolivia and Japan in the mid-sixteenth century resulted in a massive rise in the supply of precious metal.

China's massive economy, particularly its rising need for silver, was at the core of that Pacific network, and of early current world commerce in general. In the 1570s, Chinese officials combined a number of different taxes into a single one, which the country's vast population was forced to pay in silver.

This demand sent silver in motion all across the world, with China receiving the lion's give of the world's silver supply and much of the remain ending up elsewhere in Asia. There were various channels via which this "silver drain" functioned. Traders from China, Portugal, and the Netherlands rushed to Manila to sell Chinese products for silver.

AP World History Strayer Chapter 14 Flashcards

6211756293Indian Ocean Commercial Network1450-1750 : The massive, interconnected web of commerce in pre-modern times between the lands that bordered on the Indian Ocean (including East Africa, India, and Southeast Asia).06211756294Trading Post Empire1450-1750 : The Portuguese created this in the Indian Ocean; they aimed to control the commerce, not large territories or populations, and to do so by force of arms rather than by economic competition.16211756295Philippines (Spanish)1450-1750 : An archipelago of Pacific islands colonized by Spain in a relatively bloodless process that extended for the century or so after 1565, a process accompanied by a major effort at evangelization.26211756296British/Dutch East India Companies1450-1750 : Private trading companies chartered by the governments of England and the Netherlands around 1600; they were given monopolies on Indian Ocean trade, including the right to make war and to rule conquered peoples.36211756297Tokugawa Shogunate1450-1750 : The military rulers of Japan who successfully unified Japan by the early seventeenth century and establishe

Empires are complex and multi-dimensional political organizations, land or sea based, and as a result the question of how empires are organized is key to understanding them. Below are some ways in which these empires organized themselves, you may be able to think of others as well.

Bureaucratic or Military Elites

Bureaucratic & Military Elites

Bureaucratic elites are individuals or groups of individuals who hold positions of power and influence within a government bureaucracy, while military elites are individuals or groups of individuals who hold positions of power and influence within the military.

Bureaucratic elites often hold positions of power and influence within a government bureaucracy due to their knowledge, education, and expertise in a particular field or area. They may be responsible for implementing government policies and programs, managing government resources, and making decisions that affect the broader society.

Military elites, on the other hand, often hold positions of power and influence within the military due to their rank and position within the military hierarchy. They may be responsible for leading troops, making strategic decisions, and repres

AP WORLD HISTORY CH 15 Flashcards

Terms : Hide Images

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Indian Ocean commercial network

The massive web of commerce in the premodern times between the lands that bordered the Indian Ocean

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trading post empire

Form of imperial dominance based on control of trade rather than on control of subject peoples.

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Philippines (Spanish)

Spainish influence on the Philippines with Christianity and including the state into the Pacific Web

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British/Dutch East India Companies

Aimed to monopolize the spice trade. Made Taiwan become ethically Chinese. Private companies to raise money trading monopolies.

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Tokugawa Shogunate

Japanese ruling dynasty that strove to isolate it from foreign influences

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Silver Drain

Event in which almost all silver extracted from Americas was sent to Asia on Manilla Galleons. Where most ended up in China.

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Potosí

A rich silver mine in Bolivia that enriched Spain with lots of wealth.

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Soft Gold

Nickname for animal furs due to their high value, primarily from Russia

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African Diaspora

Name given to the spread

Silver Drain

Page history last edited by Niticon Davis14 years, 8 months ago

The Silver Drain was the concept of how most of the silver in late 1500's to early 1600's ended up in China. The main sources of silver came from the Americas, specifically from Potosi, a mountain containing vastly immense deposits of silver. The Spanish controled Potosi and made many Native American slaves mine the silver for them. From Potosi, the silver was sold to European countries. From there, the silver was then sold to China. China was in desparate need of silver because they had to pay their taxes in silver. Since China was in need for the silver so badly, the price of silver skyrocketed. The Europeans and Japanese would trade the silver in return recieve expensive silks and porcelains. The silver was also used as the standard Spanish coin, also known as a "piece of eight". This series of exchanges is important because it created a global network of exchange.

Potosi: