The Economic Systems of Colonial Latin America & British North America Essays

The Economic Systems of Colonial Latin America & British North America Essays

Length: 862 words (2.5 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

To what extent was the economic system of Colonial Latin America superior to that of British North America?

To what extent was the economic system of Colonial Latin America superior to that of British North America? This essay will demonstrate how the economic system of Colonial Latin America was slightly superior to that of British North America during the 18th century, due to several factors. In particular, the abundance of natural resources and the amount of political organization proved to be major influences.
The economy of Spanish America was strengthened by the export of goods to European markets. However, this was not the only source of wealth to the Spanish Empire. In 1545, in Peru, the mines of Potosi were discovered, containing an immense wealth of silver (Gale 2). A cheap labor system, known as the encomienda, helped to retain these profits. During the initiation of the silver trade, Spain had a favorable trade balance, due to the exchange of silver for manufactured goods. Over time, this had become lesser profitable, resulting in insignificant monetary gains.
However, the economic structure was not alone in driving the economy. Spain’s political structure, created by the Council of the Indies, created viceroyalties (or jurisdictions of the Spanish Empire), which were dependent on the local audiencias, corrigidores, and cabildos (Gale 2) The main role of the viceroy was to carry out the instructions of the Hapsburg monarchy. This monarchy led to the weakening of the Spanish Empire, due to corruption. By the 1700s, the Bourbons had replaced the Hapsburgs, creating reforms that would increase the amount of trade. In particular, more ports were opened inside the colonies, allowing for faster e...

... middle of paper ... of natural resources, and war debts. Therefore, the Spanish Empire was only slightly superior to the British Empire. This gives a possible answer to how much stronger it was to the British Empire, using facts and analysis.

Works Cited
Brinkley, Alan. American History: A Survey. Thirteenth ed. New York: McGraw, 2009. Print.
Keen, Benjamin, and Keith Haynes. A History of Latin America. 9th ed. Belmont: Wadsworth Cengage Learning, 2013. Print.
Kennedy, David M., and Thomas Andrew Bailey. The American Spirit: United States History as Seen by Contemporaries. 12th ed. Boston: Wadsworth Cengage Learning, 2010. Print.
"The Formation of Latin America, 1492-c. 1800." History Reference Center. Gale Group, 2003. Web. 4 Nov. 2013. .
Wood, Gordon S. The Radicalism of the American Revolution. New York: A.A. Knopf, 1992. Print.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Differences In Slave Laws In Colonial Brazil And Colonial British North

- Differences in slave laws in British North America and Colonial Brazil Slavery as it existed in colonial Brazil contained interesting points of comparison and contrast with the slave system existing in British North America. The slaves in both areas had been left with very little opportunity in which he could develop as a person. The degree to which the individual rights of the slave were either protected or suppressed provides a clearer insight to the differences between North American and Brazilian slavery....   [tags: essays research papers]

Free Essays
602 words (1.7 pages)

British Empire Essay

- THE BRITISH EMPIRE The British Empire was the largest empire in history and for a time was the foremost global power. It was a product of the European age of discovery, which began with the maritime explorations of the 15th century, that sparked the era of the European colonial empires. By 1921, the British Empire held sway over a population of about 458 million people, approximately one-quarter of the world's population. It covered about 36.6 million km² (14.2 million square miles), about a quarter of Earth's total land area....   [tags: British English History]

Better Essays
2896 words (8.3 pages)

Essay on Colonial Rule under European Countries

- ... Missionaries also encouraged Christian Indians to settle, especially near European trading ports where they could be easily forced into labor. The missionaries stressed the fact that the native cultures were wrong and that the indigenous should be ashamed of their heritage. They wanted to transform the native culture to impose one that was emblematic of Europe. Another agent of directed cultural change came from schoolteachers. Europeans used education to reorient the indigenous culture. Children were forced to attend boarding schools where they were taught that their customs were immoral....   [tags: economic, resources, relationship, power]

Better Essays
816 words (2.3 pages)

British And Anglo American History Essay

- In 1663 Parliament expanded their business by making people pass through their ports (Hewitt 73).Shipped goods from Europe to English had to pay fees to ship in the colonial ports (Hewitt 73). By 1680, London, Bristol, and Liverpool were all thriving from many things, but one in particular was cases of indigo (Hewitt 73). Later on North American merchants oversaw 75 percent of the trade where some people sold goods and some traded Africans (Hewitt 73). Parliament took on the Royal African Company in 1672 as English expanded their slave trade business....   [tags: Slavery, Atlantic slave trade]

Better Essays
1740 words (5 pages)

The Great 's Scramble For Africa Essay

- The great ‘Scramble for Africa’ of the late 19th and early 20th century has always been regarded as perhaps one of the most unique and extraordinary expansionist endeavors in all of human history. Indeed, as of the late 1870’s, only 10% of African territory was under European control; however, by 1910 European nations had added almost 10 million square miles of “the Dark Continent” to their collective empires, leaving only Liberia and Abyssinia independent (see Image 1 of the Appendix). Of the rivalling European Empires, Great Britain was arguably the most powerful....   [tags: British Empire, United Kingdom]

Better Essays
1521 words (4.3 pages)

Essay about The New World A Prosperous Venture For Other Empires

- French in America Deeming the New World a prosperous venture for other empires, the French decided to try their hand at colonization. After a few failed attempts in Spanish Florida, Jacques Cartier set off in search of the Northwest Passage, and in doing so founded the great lakes and the Canadian colonies of Quebec and Montreal. The French took a very different approach than their counter-parts and attempted to make friends by building bonds and alliances with the natives in hopes to build a profitable fur trade throughout their colonies....   [tags: American Revolution, British Empire, Colonialism]

Better Essays
1711 words (4.9 pages)

The Modernization Of Japan During The Meiji Restoration Essay

- Imperialism has not only influenced colonial territories to better themselves or to further the mother country’s realm of power, it also had a significant impact on the people’s culture, education, environment, and political systems. Japan and Britain were two imperial systems that countered each other in many facets but also had strikingly similar qualities that had helped them become strong imperial powers that needed one another to continue their position amongst others. The Japanese empire was an inspirational country to other Asians that spearheaded the fight against the European imperialism....   [tags: British Empire, Imperialism, Empire of Japan]

Better Essays
1089 words (3.1 pages)

Essay about The Impact Of British Colonial Rule On India

- After almost two-hundred years of Western integration, one could visualize India’s prosperous progress, yet this was not the case. Mark Davis succinctly summarizes the economic impact of British colonial rule in South Asia in one sentence, “there was no increase in India’s per capita income from 1757 to 1947” (Davis: 311). Imperial rule brought technological improvements into India and helped India integrate into the world trading market. Yet these advancements were canceled out as periods of agricultural instability led to a deterioration of economic conditions in India, and any profit made in India was either brought back to Britain or quickly absorbed by the poor in India leading to littl...   [tags: British Empire, British Raj, East India Company]

Better Essays
785 words (2.2 pages)

Colonial Settlements Of The North And South Essay

- In the 17th century, America as we know it today was colonized by the English. The colonies in the North came during what was known as "The Great Migration," (from 1620-1640) which brought over Puritans to colonize New England. In 1607, King James chartered a ship to America in order to colonize the South, (Virginia). In this essay I 'm going to compare and contrast the colonial settlements in the North and South. The North and South are similar in their way of treating Native Americans and the way they used the land for natural resources....   [tags: Slavery, United States]

Better Essays
1411 words (4 pages)

Essay on The History Of Colonial North America

- The History of colonial North America is primarily centered on the struggle of England, France and Spain to gain control of the continent. Settlers crossed the Atlantic for different reasons, and their governments took different approaches to their colonizing efforts. These differences created both advantages and disadvantages that deeply affected the New World’s fate. For instance, France and Spain were governed by autocratic sovereigns whose rule was absolute; their colonists went to America as servants of the Crown....   [tags: Colonialism, United States]

Better Essays
1298 words (3.7 pages)