1. The Age of Exploration & Conquest 15 th & 16 th Centuries

2. Causes for Exploration “God, Glory, Gold” primary motives – Rise of nation states (new monarchs) resulted in competition for empires & trade Portugal & Spain tried to break the Italian monopoly on trade with Asia – Capitalist investments in exploration – Religious desire to convert pagan peoples Renaissance: search for knowledge Technological advances – Magnetic compass – Quadrant & astrolabe – Ships Portugese Caravel Sail & rope riggings Axial (side) rudder Gunpowder & cannons

3. Portugal Motives – Economic: route to Asia for spice trade – Religious: find mythical Prester John for an alliance against the Mulsims Prince Henry the Navigator – Financed expedition to Africa to find gold Bartholomew Dias – Rounded the tip of Africa (1488) Vasco de Gama – Expedition to India (1498)

4. More Portugal Amerigo Vespucci – Explored Brazil 1 st European to realize that he had discovered a new continent “America” named after him Brazil – Portugal’s major colony – In the 1600’s, large # of slaves from Africa imported for production of coffee, cotton, & sugar – Significant racial mixture between whites, Amerindians, & blacks resulted

5. Spain: Explorers Christopher Columbus – Ferdinand & Isabella financed his expedition – 1492: reached the Bahamas – 4 expeditions Charted most of the Caribbean & Honduras (central America) Bartholomew de las Casas – Publicly criticized the ruthlessness with which Columbus treated the Amerindians Treaty of Tordesillas – Spain wanted to secure Columbus’ discoveries – Provisions: New world divided by Spain & Portugal Requested by Pope Leo V Portugal go the slave trade rights North-south line drawn in the Atlantic Spain – west of the line Portugal – east of the line

6. More Spanish Explorers Vasco Nunez de Balboa – Discovered the Pacific Ocean Ferdinand Magellan – His ship was the first to circumnavigate the globe Spanish conquistadors – Began creating empires by conquering Indians Hernando Cortes – conquered the Aztecs in Mesoamerica Francisco Pizarro – conquered the Incas in modern-day Peru

7. Golden Age of Spain Outright conquering entire regions & subjugating their populations Mercantilist philosophy – Colonies exist for the benefit of the mother country – Gold/silver most important 25% of the crown’s total income 1545 – opening of world’s richest silver mine at Potosi in Peru – Discouraged native industries to avoid competition

8. Spanish Empire Structure – Divided into 4 vice-royalties – Each led by a viceroy Encomienda System – Motive: Spanish gov. sought to reduce the savage exploitation of Amerindians in the Spanish empire – System: Amerindians worked for an owner a certain # of days/week but retained other parcels of land for themselves – Major reason Spain imported few slaves from Africa Mestizos: Children of mixed white & native American descent Creoles: Spanish born in New World to Spanish parents

9. Africa & Asia “Old Imperialism” Characterized by establishing posts & forts on the coasts – not going inland – Not conquering entire regions or subjugating their people – Sharp contrast to New World Portugal – Da Gama set up trading posts in India – Alphonso d’Albequerque made coastal regions a base to control Indian Ocean – Established an empire in Spice Islands (Indonesia) 1510 – Francis Xavier led Jesuit missionaries to Asia thousands had been converted to Christianity in India, Indonesia, & Japan by 1550 Dutch East India Company – Founded 1602 – Took Ceylon & Spice Islands from Portugal – By 1650: began challenging Spain in new world

10. The Slave Trade (asiento) First introduced to Brazil by the Portugese at sugar plantations Dutch West India Company began transporting slaves to New World after 1621 England’s Royal African Co. entered slave trade in late 17 th century (to Caribbean & N. America) By 1800 – blacks made up 60% of Brazil’s population & 20% of the U.S. population 50 million Africans died or became slaves in the 17 th & 18 th centuries

12. The Columbian Exchange Both Europe & the New World were transformed as a result of the exchanges between the 2 regions – For Europeans: improved diet, wealth, rise of global empires – For the Amerindians: catastrophic results Disease – Between 1492 & 1600 approx. 90% of the Amerindian population perished – Lacked immunities to European diseases – Smallpox was biggest killer – Syphilis most significant disease transmitted to Europeans

13. More Exchanging… Diet – For Europeans, a revolution in diet due to the importation of new plants The potato – most important new staple crop Also, maize (corn), pineapples, tomatoes, tobacco, beans, vanilla, & chocolate – Plants: Wheat, sugar, rice, coffee to New World – Livestock: cows, pigs, goats, sheep, chickens brought to New World Prior to the Europeans, Amerindians had no domestic animals larger than the llama (thus scarce protein) Turkey most important meat source from New World to Europe Animals – Europeans introduced the horse to Amerindians

15. A Commercial Revolution Population growth = more consumers of goods – 70 million in 1500 – 90 million in 1600 “Price revolution” = long slow upward trend in prices – Increased pop., increased food prices, increase volume of money, influx of gold & silver Rise of capitalism – Entrepreneurs invested money in business – Bourgeoisie at the forefront

16. More Commercial revolution Chartered companies – State provided monopolies – e.g. British East India Co. & Dutch East India Co. Joint-stock companies – Investors pooled resources for a common purpose Early example of modern capitalism – Stock markets emerge Investors finance a company by purchasing shares of stock Investors profit as the value of the company grows. Mercantilism – Goal: nations seek a self-sufficient economy – How: create a favorable balance of trade (export more than import) – “bullionism”: a country should acquire as much gold & silver as possible

17. Significance of 16 th cent. economics Enabled more powerful governments – wealth can be taxed Inflation stimulated production – Producers can get more $ for their goods Bourgeoisie got wealthy from trading & manufacturing (social & pol. status increases) peasant farmers benefitted – Surplus crops could be sold Nobility suffered (fixed income) Bourgeoisie grew in pol. & econ. significance