The New World, The Peso/dollar and Pacific Trade
With the colonisation of the Americas after 1492, great amounts of silver began to flow from the New World to the old. Especially the silver mines in Bolivia and Mexico gave rise to large silver coins. Within decades after Columbus' discovery, silver coins were minted in the Americas and shipped to Spain. The coins minted in the Americas were initially of a very crude fabric.
Read more about this topic: Silver Coin
Famous quotes containing the words dollar, pacific and/or trade:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Really, there is no infidelity, nowadays, so great as that which prays, and keeps the Sabbath, and rebuilds the churches. The sealer of the South Pacific preaches a truer doctrine.”
—Henry David Thoreau (1817–1862)
“Though I have locked my gate on them
I pity all the young,
I know what devil’s trade they learn
From those they live among,
Their drink, their pitch and toss by day,
Their robbery by night....”
—William Butler Yeats (1865–1939)