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Markets In Colonial Spanish America

In these markets, the Spanish had the aims of regulating everything in trade and in the markets. However, with the aimed regulations all the trade processes and marketing would be made difficult. Manufacturing, sale, and purchase of goods were all affected negatively as they got difficult. The enormous land use was also an aspect of the trade. There were also different types of crops grown in different areas. However, even with the huge and enormous land use for farming, the labor supply was insufficient. The majorly used slave farmers were careless and thus, the labor was inefficient. Technological levels and advancements at this time in America were low as it was the case in mostly other world parts. Sometimes, there was low crop productivity. Both low productivities in crop products and technology went on even into the Republican Period. During the era or the period the citizens or the people’s power to purchase products was very low. In other words, more than half of the populations were locked out of the money economy. The only things that could provide solutions to the economic issues then include a combination of ideas, improved technology, and fewer trade restrictions.

Agricultural Production

Agriculture was a major pillar of this trade and earned even more than the minerals mined in the regions. Different provinces had capabilities of producing different crops and products. Production of timber and its products was essential and vital in Cuba. However, reduced technologies disappointed the efforts of production. Three was the production of sugar but in high amounts. The slaves facilitated this production. The production of cotton in the regions was also fairly high. Cacao and coffee were among crops cultivated. Livestock trade and production were also high in the regions. The high quality of the products was demanded with increased restrictions on the trade. However, the worst meat products fed the slaves. In Panama, mules were common. However, trade restrictions made trade more difficult.

Mining

Mining did not raise as much money as it was expected to. The markets were mostly isolated and disorganized. The mining towns were also isolated and rough. Also, they decline in the mining industry, and the markets were experienced due to the increase in disputes. Limited labor supply was also an issue in the markets. Besides, lack of investment caused a decline in the markets. The restrictions caused disputes that affected the markets negatively. Also, it was difficult to unify the markets.

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