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Mercantilism is the economic policy that a metropole should have a number of colonies that provide it material wealth, unrefined resources, and a market for its goods. As a result, according to mercantilism, the colonies were required to engage in two general behaviors: (1) The colonies were locked into exclusive trade between the colonies and the metropole and were not allowed to trade with any other nation or colony. (2) No manufactures or complex goods could be made in the colonial territory. As a result the colonies would provide wealth to the metropole by trading their Natural Resources for less than they would be worth and by buying manufactures for much more money.

In addition to the moneys that would come into Spain through the production of manufactures that would be sold to the colonies, the raw materials coming from the colonies were often very valuable in and of themselves. Vast amounts of gold and silver were mined from Mexico to Bolivia.

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7y ago
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9y ago

Spain became wealthy from New World colonization because it imported gold and silver.

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12y ago

through trade

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Q: How did mercantilism increase the wealth of countries like Spain?
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