What was a major source of wealth for the Spanish empire?
a) the trade of enslaved African people
b) new crops such as corn
c) taxes levied on conquered societies
d) the trade of enslaved indigenous North American people
e) gold and silver mined by indigenous people in the Americas
The correct answer and explanation is:
The correct answer is: e) gold and silver mined by indigenous people in the Americas
Explanation:
A major source of wealth for the Spanish Empire during the colonial period was the vast amounts of gold and silver extracted from the Americas. After Christopher Columbus’s voyages and the subsequent conquest of large parts of the Americas, Spain gained access to rich mineral deposits, particularly in regions that are now Mexico and Peru. The Spanish established mining operations that relied heavily on the labor of indigenous peoples, often forced through systems such as the encomienda and mita.
The discovery of large silver deposits at places like Potosí in present-day Bolivia made silver mining especially profitable. This influx of precious metals significantly increased Spain’s wealth and funded its European and global ambitions for over two centuries. The silver and gold extracted were shipped back to Spain, contributing to the country’s economy and its ability to finance military campaigns and maintain its empire.
Other options are less accurate as major sources of wealth for Spain:
- The trade of enslaved African people (option a) was more central to other European powers, such as Portugal, England, and France, and related to the transatlantic slave trade rather than a primary source of Spanish wealth.
- New crops such as corn (option b) were important globally but did not directly generate wealth for Spain on a large scale during this period.
- Taxes levied on conquered societies (option c) did provide revenue but were secondary to the wealth generated from mining.
- The trade of enslaved indigenous North American people (option d) was not a significant economic factor for the Spanish Empire compared to mining precious metals.
Therefore, the extraction of gold and silver mined largely by indigenous labor was the cornerstone of Spain’s wealth during its colonial era in the Americas.