The into a negative thing in China. Since

The global flow of silver from the mid-sixteenth century to the eighteenth century had vast effects both socially and economically for all countries involved. When the flow of silver started there was already an interregional trade established, however, silver had not yet become the primary form of currency. The importance of silver only increased when China, a primary trade company, made silver the only thing they would exchange their goods for. The need for silver had both positive and negative effects on the societies and economies of England, China, Portugal, and Spain.     The global flow of silver quickly turned into a negative thing in China. Since China does not geographically naturally have silver, the only way for them to obtain it was from trade with other countries. In fact, silver became so scarce in China that even though the people pay their taxes in silver, but “disburses little silver in its expenditures” (Document 2). This means that even though the citizens in China were required to pay taxes in silver, they did not receive silver back. Another effect that the silver trade had in China was the effect on farmers. Document 2 tells us that “As the price of grain falls, tillers of the soil receive lower returns on their labors, and thus less land is put into cultivation.” This quote is saying that since the price of grain fell, farmers were making less money, and because of this less farming was going on.     The trade also affected the Indian workers, which relied on other countries to want the silver since “So huge is the wealth that has been taken out of this range” (Document 3). Since the other countries did not naturally have silver, they relied on trade with the countries that did. This created an influx of work for the Indians, as they had to keep up with the growing demand. It is important to note, however, that this specific document may be biased, as it was written in order to gain freedom for the Indians. It also created harsher conditions for them since they needed to produce so much so quickly. We can see this in Document 5 which depicts a picture of Indians who are working on the mountain by excavating silver from it.     Not only did it have an effect on the workers in Spain, it also had an effect on the economy. The silver caused huge inflations in Spain since “The high prices ruined Spain as the prices attracted Asian commodity dealers and the silver currency flowed out of Spain to pay for them.? What this means is that the more money was leaving Spain and going into Asia since goods were being bought and this severely wounded Spain’s economy. Another problem the trade created was exploitation. Since the trade was basically built off of greed, it is no surprise that the foreigners who didn’t know better were victims of exploitation. We can see evidence of this in Document 6 when it says “Chinese silk yarn worth 100 bars of silver can be sold in the Philippines at a price of 200 to 300 bars of silver there.” The Chinese were going over to the Philippines and raising the price on everything out of pure greed. Since the only thing the Chinese wanted was silver, they wanted to gain as much as it as they could. And one easy way to do this was charge more for goods to people who wouldn’t know better. Although, this is not the first time this has happened in history. One example of this would be slavery. The Europeans went there with technology the Africans did not have, took their people, and then sold them all around the world for money.The silver did, however, help some of the countries. Document 4 says that the Portuguese went to Japan and “brings back more than 600,000 coins’ worth of Japanese silver. The Portuguese use this Japanese silver to their great advantage in China.” Since silver was worth so much China, those who had a lot of it were what we were considered rich. Silver could buy the Portuguese virtually anything they needed or wanted in China. One of the worst effects of the silver trade, however, happened between China and England. It was called the Opium War. And it happened when the British East India Company exported opium to China. The Chinese obviously became addicted to said opiums and continued to buy them from the British. The money was then used to buy spices, silks, and other luxury goods from China. However, China didn’t just become dependent on England, they also started to rely on China for luxury goods. We see this in Document 7 when it says “But since Europe has tasted of this luxury, since the custom of a hundred years has made Asian spices seem necessary to all degrees of people, since Asian silks are pleasing everywhere to the better sort, and since their dyed cotton cloth is useful wear at home, and in our own colonies, and for the Spaniards in America, it can never be advisable for England to quit this trade, and leave it to any other nation.” This quote is explaining the need for trade with China since the British have already become emotionally dependent on these luxuries. Overall the Global Flow of Silver had both negative and positives effects. Although, it may have had more negative effects, as both the economies and social situations became changed forever. In order to understand this topic further, a chart showing the territorial gains or losses between both countries, before and after the era of silver exchange, would directly demonstrate how each economy used the trade for conquest and territorial advantage.