The Economic Reforms in Mexico in the 18th Century

In the 18th century the Bourbones became thejust one of the numerous industries that were
ruling family in Spain and at once started theadopted; New Spain lost huge amounts of money
reorganization of the economy in Spain andto Spain when this happened, influencing lots of
Mexico. In 1792 was founded the Colegio depeople. The Ley de Consolidacioacuten was
Mineria to train mining techniques andfounded in 1805. It was the church that loaned
supplementary skillfulness. The silver miningmoney to the poor citizens giving them some
became of a colossal meaning in the trade world;time to give it back. During the bourbon period
they sold it for goods like paper, clothing, iron, andthe church was to control all the money owed in
flavouring both from Europe and Asia. By Silvera short period laps and if citizens did not meet the
also paid the exterior debt that Spain has obtainedterms their houses and other possessions were
during the years. Silver became a big business,confiscated. The foundation of the Colegio de
promoting funds as well as the growth of banks.Mineria, more liberties of trade, and the usage of
In the XVIII century Spain sold overseas moresilver to get goods looks like a good thing;
that 66 per cent of the world's silver generallynevertheless we should remember that this silver
from New Spain and Peru. A lot of monopoliesgave no benefit the nation of New Spain. The
were split in order to be repossessed by Spainsilver went to Spain and Asia; it was taken from
and became larger. An obvious illustration is thethe nation it lawfully belonged to. The nation of
tobacco industry in which the country looked overNew Spain commenced to understand the worth
every phase of the process, from collecting ofof their state.
the tobacco leaves to selling of cigars. This was