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Not Gold Essay

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The colonization of the Americas by Spain and the beginning of extensive silver mining in Japan greatly increased silver production. However, this increase of the supply of silver, while to some people seemed good, overall caused problems. Although the increase in silver mining appeared to benefit Japan and Spain- the suppliers- as well as Ming China- the receivers- overall this increase caused worldwide problems. The effect of the increase of silver production, while being beneficial to the middlemen that facilitated the trade, eventually weakened states empires that supplied received silver in vast qualities. In China, though many people believed the increase of trade that increased the amount of silver in china was beneficial, overall the extreme amount that flowed in caused problems. Granted the flow of some silver into China was not a bad thing, in fact, it was needed when the Ming Dynasty decreased that all taxes and trade...

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