Galleons and Caravans SILVER IN WORLD HISTORY Giorgio Riello Week 14. Wednesday 28 January 2009 SILVER IN WORLD HISTORY
EUROPE CHINA 1 OUNCE OF GOLD 12 OUNCES OF SILVER 2 OUNCES OF GOLD
View of Potosi by Bernard Lens, in Map of South America, London c.1715
Natives working in a money mine of Potosí (16th century)
Trade in Silver and Other Commodities, 1650 - 1750
"Manila had no purpose other than the trade in silver and silk"
"When the Portuguese go from Macao in China to Japan, they carry much withe silk, gold, musk, and porcelain; and they bring from thence nothing but silver. They have a great carrack which goes there every year and she brings from thence every year above six hundred thousand cruzados [approximately 17,000 kilograms]. And all this silver ... they employ to their great advantage in China".