The Early Modern Period, c. 1450 to c. 1750: 4.3: Origins and Impact of the Western European Empires in the North Atlantic (Sources 1–9)

Dutch shippers expanded their sphere of influence. (Source 4)

By the turn of the seventeenth century, Dutch merchants had their eyes on the American and Asian markets that were dominated by Iberian merchants. (Source 4)

The ability of Dutch shippers to effectively compete with entrenched merchants, like the...Portuguese in Asia stemmed from their cost cutting strategies. (Source 4)

The ability of Dutch shippers to effectively compete with entrenched merchants, like the...Portuguese in Asia stemmed from their cost cutting strategies. (Source 4)

The ability of Dutch shippers to effectively compete with entrenched merchants, like the...Portuguese in Asia stemmed from their cost cutting strategies. (Source 4)

Not burdened by the costs and protective restrictions of most merchant groups of the sixteenth century, the Dutch trimmed their costs enough to undercut the competition, and eventually establish what [historian] Jonathan Israel has called “world primacy.” (Source 4)

Not burdened by the costs and protective restrictions of most merchant groups of the sixteenth century, the Dutch trimmed their costs enough to undercut the competition, and eventually establish what [historian] Jonathan Israel has called “world primacy.” (Source 4)

These merchants set up the so-called Guinea trade with West Africa, and initiated Dutch involvement in the Western Hemisphere. (Source 4)

The recent decline in population did not arise so much from wars as from the shortcomings in all things caused by the laziness of our people. (Source 5)

The recent decline in population did not arise so much from wars as from the shortcomings in all things caused by the laziness of our people. (Source 5)

This is what has so obviously destroyed the republic because, in relying on these payments, they have abandoned the virtuous occupations of farming and raising animals. (Source 5)

So, one can indeed say that the wealth that was supposed to have enriched has instead impoverished, because it has been so poorly used that it has led the merchant not to trade and the farmer not to farm. (Source 5)

Elizabeth, by the Grace of God, Queen of England, pledge our royal assent and license to be granted unto all men listed in an earlier portion of the charter, that they, at their own adventures, costs, and charges, as well for the honor of this our realm of England, as for the increase of our navigation, and advancement of trade of merchandise, within our said realms and the dominions of the same, might adventure and set forth... (Source 6)

Elizabeth, by the Grace of God, Queen of England, pledge our royal assent and license to be granted unto all men listed in an earlier portion of the charter, that they, at their own adventures, costs, and charges, as well for the honor of this our realm of England, as for the increase of our navigation, and advancement of trade of merchandise, within our said realms and the dominions of the same, might adventure and set forth... (Source 6)

The Governor and Company of Merchants of London trading into the East Indies shall establish laws, constitutions, and orders or ordinances, and provide pains, punishments, and penalties by the imprisonment of the body or by fines on offenders. (Source 6)

By these means the Dutch, English, merchants of Hamburg, and others bring into the kingdom a quantity of merchandise much greater than they take away and withdraw the surplus in cash, increasing their prosperity and our poverty and, unquestionably, adding to their power and our weakness. (Source 7)

By these means the Dutch, English, merchants of Hamburg, and others bring into the kingdom a quantity of merchandise much greater than they take away and withdraw the surplus in cash, increasing their prosperity and our poverty and, unquestionably, adding to their power and our weakness. (Source 7)

[Available data] explains why silver left Japan and Spanish America, but why did it gravitate to particular areas like China? (Source 9)

Chinese demand for silver was instrumental in slowing the fall in the world price of silver, which prolonged the period of mining profits in Japan and Spanish America. (Source 9)

Chinese demand for silver was instrumental in slowing the fall in the world price of silver, which prolonged the period of mining profits in Japan and Spanish America. (Source 9)

Japanese and Spanish mining profits, in turn, supported their respective empires. (Source 9)

The production point of view offers some clues: Spain had lower-cost mines, partly because of convenient access to mercury, an important input in the production process, and partly because the American mines were simply naturally richer. (Source 9)

[T]he flood of American silver eventually reduced its price sufficiently to drive the previously profitable Central European silver mines out of business in the sixteenth century. (Source 9)

Perhaps the world stock of silver had grown sufficiently to depress its price to near its cost of production at the best Japanese mines by the 1630s/1640s. (Source 9)

[T]he ability of Spain to outproduce and outlast its Japanese competitor probably had more to do with access to mercury and to differential characteristics of mines than to administrative efficiency. (Source 9)