What did Spain do with the gold from the New World?

The gold was used by the Spanish monarchy to pay off its debts and also to fund its ‘religious’ wars. Therefore, gold started to trickle out to other European countries who benefited from the Spanish wealth.

What did Spain get from the New World?

By 1550 Spain had dominion over the West Indies and Central America and its large surviving native population. New World mines yielded gold and silver for Spain in far greater amounts than France and Portugal had ever been able to extract from West Africa.

How much gold did Spain get from America?

That’s quite a pre-nup. Between 1500 and 1650, the Spanish imported 181 tons of gold and 16,000 tons of silver from the New World. In today’s money, that much gold would be worth nearly $4 billion, and the silver would be worth over $7 billion.

Where did Spain find gold and silver in the New World?

The Spanish worked alluvial gold deposits in the Caribbean, Mexico, and the Andes (especially in New Granada). Spanish settlers located all the main silver-bearing zones of Latin America in the sixteenth century. Some deposits of silver ore had been known to the native cultures.

Did Christopher Columbus find gold?

For months, Columbus sailed from island to island in what we now know as the Caribbean, looking for the “pearls, precious stones, gold, silver, spices, and other objects and merchandise whatsoever” that he had promised to his Spanish patrons, but he did not find much.

Why did the King of Spain want so much gold and land?

He wanted to dominate other European empires. Why did the King of Spain want so much gold and land? Because their countries were once Spanish and Portuguese colonies.

Why did Spain control so much of the New World?

Colonial expansion under the Spanish Empire was initiated by the Spanish conquistadors and developed by the Monarchy of Spain through its administrators and missionaries. The motivations for colonial expansion were trade and the spread of the Christian faith through indigenous conversions.

How much gold did Cortes get from the Aztecs?

So, very roughly, Cortés and his men got away with some 200 gold objects – a large booty, but perhaps nothing like what some have imagined over the centuries.

What happened to the Aztecs gold?

As Mexico’s National Institute of Anthropology and History (INAH) announced last week, the precious metal was probably dropped in a canal by Spanish invaders as they retreated from the Aztec capital of Tenochtitlán on June 30, 1520, the Noche Triste, or “Night of Sadness.”

Why did Spain desperately need that much gold from the Americas?

Because Spain had almost no industry they had to buy goods from other country’s. And because gold was used to make coins Spain desperately needed it. Spain also needed to pay for it’s protection against other country’s. Without money Spain was a vulnerable poor country.

Where did Europe get its gold?

Where is gold produced in Europe? Gold is mined in Finland, Sweden, Bulgaria, Spain and Turkey. Finland and Sweden are the two top EU gold producers followed by Bulgaria and Spain. Turkey, which started mining gold at the beginning of the 21st century, now produces more gold than all the EU Member States together.