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Near Lima, Drake captured a Spanish ship laden with 25,000 pesos of Peruvian gold, amounting in value to 37,000 ducats of Spanish money (about £7m by modern standards). Drake also discovered news of another ship, Nuestra Señora de la Concepción, which was sailing west towards Manila. It would come to be called the Cacafuego. Drake gave chase and eventually captured the treasure ship which proved their most profitable capture. Aboard Nuestra Señora de la Concepción, Drake found 80 lb (36 kg) of gold, a golden crucifix, jewels, 13 chests full of royals of plate and 26 tons of silver.

...or the other (pdf)

● Increased purchasing power of Spain
● Expansion of demand for goods and services
● Expansion of international trade (gold and silver were accepted all over the world as a means of payment)
● Stimulation of industry throughout Europe (in particular northern Netherlands, England, and France, which competed for Spanish custom)
● Innovations in industries in northern Netherlands, England, and France, leading to rapid development of these countries.

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by A swedish kind of death on Mon Apr 11th, 2011 at 01:14:26 PM EST
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