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How the new world gold and silver led to the end of Spain's European empire?
Wiki User
∙ 14y ago
The gold and silver from the Americas and the New World flooded the market in Spain. Since the supply of gold was at a ridiculous high, the demand and price of goods sky rocketed. Since demand was high, suppliers had to keep up with the demand which was inviable at the time, since industry was very simple and not very efficient. This caused much of the goods to come from other countries. This weakened Spain's industry which hurt Spain down the road when it began to run out of gold, especially during wartime. Eventually Spain became bankrupt and lost all of it's empire.
Wiki User
∙ 14y ago
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