Mining and mercantilism: the imperial view: Jose del Campillo y Cossio, New System of Economic Government of America, 1743: factories and industries “must absolutely be forbidden in America.”
Mercantilism--
- Bullionism, gold and silver as the basis of wealth and empire
- Monopolies: commercial trading houses
- Imperial Controls: restrictions on routes, goods, etc.
Silver production and the transformation of trans-Atlantic trade
- decline of silver production in 17th century
- attacks from Dutch, French and English
Decline of the Carrera de Indias (fleet system)
- 1554-1740: 2 fleets per year (Veracruz, Panama)
- Lost only one fleet (1628), but extremely costly