Preview

The Collapse Of The Spanish Economy

Satisfactory Essays
Open Document
Open Document
82 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Collapse Of The Spanish Economy
The Spanish economy crashed after the Spanish conquestadors conquered the Inca and brought over all the gold and other resources that they had. “Almost overnight, Spain became very rich taking home unprecedented quantities of gold and silver.”(Tejvan Pettinger, 9/24, What happened to the spanish gold from the Incas?) Because of the influx of gold and silver, the Spanish economy suffered inflation. Everything costed more and certain things were worth less than they used to be. This is how the Spanish economy crashed.

You May Also Find These Documents Helpful

  • Powerful Essays

    The Mexican financial crisis of 1994-1995, also known as the “Tequila Crisis”, took place in December 1994 and is known as the first global crisis of last decade of the twentieth century. The crisis had little to do with the external debt situation and more to do with the short term foreign exchange problem which led to the devaluation of the peso against the U.S dollar. This action lead to the following significant outcome:…

    • 1367 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Spanish explorer found gold mines in Zactecas and Guanajuanto and Potosi. As a result, huge amount of gold and silver poured in to Spain. At the same time, there was an increase in population, and there was a huge demand for food. Spanish colonies also demanded for food, so the demand for food increased…

    • 285 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Silver and gold in Spain fed the growth of capitalism, transformed the world economy, spread commerce, and increased manufacturing.…

    • 716 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Throughout Western Europe the prices were increasing with the demand for new foreign goods and surpassed the economy's capacity. Therefore this lead to inflation which leads to economic recessions and depressions.…

    • 381 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    When Trujillo assumed power, the economic situation was appalling in all its aspects. On the one hand, customs, banking and major companies were controlled by US investors. On the other hand, the State had no monetary reserves, plus the economic effects of the San Zenón cyclone and the world economic depression of 1929. The situation prompted the government to enact an emergency law in 1933, Through which it tried to negotiate in 1934 the readjustment of the external debt. With both measures, the economic policy of the government began to be delineated, explained as "a particularized capitalist system" that descended to the level of personal property, because Trujillo became the great territorial proprietor at the same time that made of the…

    • 372 Words
    • 2 Pages
    Good Essays
  • Good Essays

    The Spanish-American War was different from many other wars because it did not deal with America's rights; nevertheless it dealt with our issues over expansionism. The war was caused by yellow journalism, sinking of the main, and the de Lome letter in which he discussed his bad faith with America. The Spanish-American War was a "splendid little war" because it demonstrated the enormous influence of yellow journalism, changed the balance in the Federal Government, and most importantly, marked the clear emergence of the United States as both a world and imperialistic power.…

    • 459 Words
    • 2 Pages
    Good Essays
  • Better Essays

    This abundance of silver enriched the Spanish monarchy, and instead of leading to economic growth, the silver caused inflation. This was because the Spanish economy was too rigid and Spanish aristocrats were against economic enterprise, which lead to raised prices and the loss in the value of silver.…

    • 1222 Words
    • 5 Pages
    Better Essays
  • Better Essays

    However, the depression of the 1930’s hit Spain hard. Unemployment rose and Rivera did not have the ability to sort out Spain’s financial mess. The army withdrew its support and Rivera had to resign.…

    • 1297 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The Great Depression

    • 590 Words
    • 2 Pages

    The Great Depression was a tragedy for the whole world, but it mostly damaged specifically one country, which had the best economic system in the world at that time - United States of America. The Great Depression was an economic collapse from 1930s to 1940s. This economic disaster was brought to life because of a huge amount of problems. There even were different types of problems, such as social, political, economic, or military problems. All together, they created this economic collapse.…

    • 590 Words
    • 2 Pages
    Good Essays
  • Good Essays

    The economic depression that beset the United States and other countries in the 1930s was unique in its magnitude and its consequences. At the depth of the depression, in 1933, one American worker in every four was out of a job. In other countries unemployment ranged between 15 percent and 25 percent of the labor force. The great industrial slump continued throughout the 1930s, shaking the foundations of Western capitalism and the society based upon it. Economic Aspects President Calvin COOLIDGE had said during the long prosperity of the 1920s that "The business of America is business." Despite the seeming business prosperity of the 1920s, however, there were serious economic weak spots, a chief one being a depression in the agricultural sector. Also depressed were such industries as coal mining, railroads, and textiles. <br><br>Throughout the 1920s, U. S. banks had failed--an average of 600 per year--as had thousands of other business firms. By 1928 the construction boom was over. The spectacular rise in prices on the STOCK MARKET from 1924 to 1929 bore little relation to actual economic conditions. In fact, the boom in the stock market and in real estate, along with the expansion in credit (created, in part, by low-paid workers buying on credit) and high profits for a few industries, concealed basic problems. Thus the U. S. stock market crash that occurred in October 1929, with huge losses, was not the fundamental cause of the Great Depression, although the crash sparked, and certainly marked the beginning of, the most traumatic economic period of modern times. By 1930, the slump was apparent, but few people expected it to continue; previous financial PANICS and depressions had reversed in a year or two. The usual forces of economic expansion had vanished, however. <br><br>Technology had eliminated more industrial jobs than it had created; the supply of goods continued to exceed demand; the world market system was basically unsound. The high tariffs of the…

    • 1354 Words
    • 6 Pages
    Good Essays
  • Better Essays

    The Great Depression

    • 1701 Words
    • 7 Pages

    The 1920s was a time of roaring prosperity. Even mid-October of 1929, the average middle-class American saw an “illimitable vista of prosperity” (Dixon 1). The thought of poverty was close to an end; in 1928, President Herbert Hoover stated, “We have not yet reached the goal, but given a chance to go forward with the policies of the last eight years, and we shall soon with the help of God be within sight of the day when poverty will be banished from the nation” (Dixon 1). The prescience of the end of poverty became known as the American Dream; however, this foresight was shortly lived. On Tuesday, March 26, 1929, the Hoover Administration saw the largest stock market crash of their administration to that date. Several months later brought Black Monday, the largest stock market crash in American history and the cardinal cause of the Great Depression. The Great Depression is one of the single most important events in the financial history of the United States and the world; the effects of and leading to the Great Depression lasted for several years.…

    • 1701 Words
    • 7 Pages
    Better Essays
  • Better Essays

    The Great Depression

    • 1743 Words
    • 7 Pages

    The Great Depression Though most Americans are aware of the Great Depression of 1929, which may well be "the most serious problem facing our free enterprise economic system,"( ) few know of the many Americans who lost their homes, life savings and jobs. This paper briefly states the causes of the depression and summarizes the vast problems Americans faced during the eleven years of its span. This paper primarily focuses on what life was like for farmers during the time of the Depression, as portrayed in John Steinbeck's The Grapes of Wrath, and tells what the government did to end the Depression. In the 1920's, after World War 1, danger signals were apparent that a great Depression was coming.…

    • 1743 Words
    • 7 Pages
    Better Essays
  • Better Essays

    The Great Depression

    • 1283 Words
    • 6 Pages

    From 1929 to 1941, the United States suffered through its greatest economic crisis in its history. Millions of people lost their jobs and went hungry. At this time, it was unclear whether the United States would ever recover. From the Great Depression origin of the 1929 stock market crash to its conclusion at the start of World War II, our country and its people will never be the same. The effects of the Great Depression can still be felt today.…

    • 1283 Words
    • 6 Pages
    Better Essays
  • Better Essays

    Throughout the 1920 's, new industries and new methods of production led to prosperity in America. America was able to use its great supply of raw materials to produce steal, chemicals, glass and machinery that became the foundation of an enormous boom in consumer goods (Samuelson, 2.) Many US citizens invested on the stock market, speculating to make a quick profit. This great prosperity ended in the October of 1929. People began to fear that the boom was going to end, the stock market crashed, the economy collapsed and the United States entered into a long depression.…

    • 1197 Words
    • 5 Pages
    Better Essays
  • Best Essays

    The Great Depression

    • 2819 Words
    • 12 Pages

    “The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world” (The Great Depression-History.com 2012). The great depression is said to have begun after the First World War, It was a time of hardship and uncertainty. Although the great depression began in the United States it spread throughout the globe and affected almost every country. It brought about drastic declines in output, severe unemployment, and serious deflation.…

    • 2819 Words
    • 12 Pages
    Best Essays