Winners: Spain & Portugal? Winners: Spain & Portugal? Losers: Spain & Portugal? Winner: Netherlands (Dutch) 11/25/18

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1 Winners: Spain & Portugal? Winners: Spain & Portugal? Spanish Empire: An Empire of Silver Mostly in the Americas Mine gold & silver Used natives as labor Encomiendas Repartimiento Mita Sociedad de Castas Mestizos Catholic Church Jesuits Portuguese Empire: A Trading-Post Empire Indian Ocean Trading-Posts Trades spices & sugar Used slaves as labor El Mina Brazil 1 st plantation colony Imports 20% of all slaves Sociedad de Castas Mulattos Catholic Church Jesuits Losers: Spain & Portugal? Winner: Netherlands (Dutch) Decline of Spanish Empire: Too rich, too fast? External Pressure English, French, & Dutch competition in Caribbean Costly wars with other European nations England (Spanish Armada) Internal Weakness Inflation Never develops native industries Financial systems not sophisticated enough Decline of Portuguese Empire: Too big, too small? External Pressure Dutch takeover Indian Ocean Costly wars with other European nations Netherlands Internal Weakness Too small Never develops native industries Not enough resources 1

2 An Empire of Spices? An Empire of Sugar? Empire of Commerce Dutch East India Co. Dutch East India Co. (V.O.C.) was a joint-stock company founded in 1602 Second oldest multinational corporation British East India Co. founded in 1600 First trade company to exchange stock Amsterdam Stock Exchange founded in 1602 Granted a 21 year monopoly of the spice trade Powers of the V.O.C. Wage war Negotiate treaties Establish colonies Established Batavia (Jakarta) in 1619 Mint its own coins Dutch settlers in South Africa were called Boers 2

3 Mercantilism Mercantilism is an economic theory based on the following ideas: 1. There is a limited amount of wealth (gold & silver) in the world 2. The country with the most wealth wins 3. Winning takes maintaining a favorable balance of trade by maximizing exports, minimizing imports, and extracting resources from your colonies 4. Control trade by granting charters to joint-stock companies (V.O.C.) to monopolize trade England: Empire of Capital North America Raw materials (cotton, tobacco, indigo, etc.) Slaves Triangle Trade or the Atlantic System Mercantilism ENGLAND WINS! England Man. goods GOLD & SILVER Africa Spain SPAIN LOSES! Europe experiences Reformation and Catholic Counter Reformation Scientific Revolution WAR!!! 3

4 Commercial Revolution North America Raw materials (cotton, tobacco, indigo, etc.) Slaves Triangle Trade or the Atlantic System Rise of Capitalism England Man. goods GOLD & SILVER Africa Spain SPAIN LOSES! Post-Classical Europe: A Review Political Trends Roman Empire (31 BCE 476 CE) Byzantine Empire (conquered 1453) Feudal Monarchy France, England, etc. Magna Carta, 1215 Germanic Kingdoms Clovis, Charlemagne, etc. Feudal Kingdoms Three new developments Rise of nation-states A political unit consisting of an autonomous state inhabited predominantly by a people sharing a common culture, history, and language. Rise of absolute monarchy Monarch serves as the source of power in the state and is not legally bound by any constitution (Spain, France, Russia, etc.) Rise of limited monarchy Parliamentary monarchy or constitutional monarchy (England & Netherlands) Monarch acts as head of state with powers limited by a parliament or a constitution 4

5 Absolute Monarchy: France Reign of Louis XIV Louis XIV ( ) Named king at age 4 Advised by Cardinal Mazarin until 1661 Divine Right of Kings Secularized France Promoted France as a nation-state Believed the monarch personified the state Nicknamed the Sun King L État c est moi or I am the state Louis XIV ruled France for over 72 years. Limited power of nobility & Catholic church Increased size of French bureaucracy Mercantilism was used to increase the wealth of France With mercantilism the monarch controls trade Jean Baptiste Colbert Fought several wars War of Spanish Succession Put France in major debt Colonization North America and India Revoked the Edict of Nantes Built the Palace of Versailles Palace of Versailles Palace used as a symbol of French wealth and power Daily routines at Versailles were exploited by Louis XIV Nobility competed against each other to perform menial tasks for the king Versailles Some Statistics Modern cost: over $2,000,000,000 Annual upkeep took 25% of France s income Main wing 500 yards long Two wings: 150 yards long 2,000 rooms 15,000 acres of gardens with 1,400 fountains 5