Discuss The Commodities For Which Silver Was Exchanged In Different Parts Of The World

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Identify the commodities for which silver was exchanged in different parts of the world.

During the period of 1650–1750, silver played a crucial role in global trade, and it was exchanged for various commodities in different parts of the world.

From North America, silver was exchanged for tobacco, rice, furs, indigo, meat, timber and grain. From Western Europe, silver was exchanged for manufacture. From South America, silver was exchanged for sugar, gold, hides, coffee, diamonds, tobacco and Calico. From West Africa, silver was exchanged for slaves. From Portugal, silver was exchanged for copper, iron, cutlery, textiles and firearms. From India, silver was exchanged for calico, silk, coffee, indigo, pepper and drugs. From China and Southeast Asia, silver was exchanged for silk, calico, coffee, pepper, spices and drugs From the Philippines, silver was exchanged for silk and spices.

Explain the relationship between mercantilism and the flow of trade in the period 1650 to 1750. …show more content…
Countries set policies designed to sell as many goods as they could to other countries (to maximize the amount of gold and silver coming into the country) and to buy as few as possible from other countries (to minimize the flow of precious metals out of the country). This theory is called mercantilism. Mercantilist policies included banning the import of certain goods. This was put in place to protect local industries from overseas competition and promote the purchase of items made locally. Another mercantilist policy was that in order to increase the value of local businesses, governments would financially support those industries. Europeans colonized many countries in order to take advantage of the labor and natural resources available there. Also, to control the flow of goods into and out of the country, governments put in place strict trade
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