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Potosi - Coggle Diagram
Potosi
Global Economy
The first currency
Piece of 8 - the Spanish Dollar
Became a global currency
"Rich as a Potosi"
Trade routes
China wanted silver
European countries wanted silverware and silver coins
Financed spain
Silver wares brought in millions of dollars for Spain
In today's money they brought to the old world approx 40 billion dollars' worth of silver
Economic inflation
The unregulated design of coins allowed people to cut parts off without anyone knowing
As people began to realise this the coin lost value
Eventually the prices of coins crashed
Indigenous population
The Mit'a system was a system claiming mandatory labour as tribute to the government
One seventh of all adults entered the mine
It is said that half of the people who entered the mines died
Brutal conditions in the mine
Unsafe mines
Mines could be up to 500m deep
No air flow
Falling off ladders
Mercury poisoning
Could not make enough money to get home
Lost to their families
Can't support themselves in the city
Paid work in Potosi
Environment
Mercury
Mercury would enter water sources causing ecological harm
Used to refine silver
Mercury poisoning killed many slaves
Spanish Empire