The widespread use of silver beginning in the 1570’s resulted in the increase of globalization through greater foreign trade. However, the use of silver as currency had negative as well as positive consequences. On one hand, through the use of silver in world trade, trading countries were connected through a common currency, and many were able to benefit their economies through the use of silver (documents 2, 4, 6, 7, and 8). On the other hand, the widespread use of silver also deepened the disparity between the rich and poor- not only within countries, but also globally (documents 1, 2, 3, 4, 5, 6, 7, and 8).
Documents 2, 4, 6, 7, and 8 all accurately illustrate the economic benefit gained by many through the adoption of silver for currency.…