Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Great chart in the pdf link. But it doesn't really show where England got silver, especially from the mid 17th century onward. Profits from English slave traders selling slaves to Spanish and Brazilian planters is one possibility. Piracy is another, but is an intermittent and declining source. One of the characteristics of English colonies, especially in the "new world" was the relative absence of significant sources of gold.

Of course, with the relative decline in the purchasing power of gold and silver from 1500 through 1650, export goods could buy more silver than before. But that silver would have to be gotten out of the hands of the merchants who received it, who had to use something to pay those who sold them the goods which they exported.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Apr 11th, 2011 at 02:16:52 PM EST
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