The Spanish silver mines of Peru and Bolivia provided Europe with a whole new currency. In what way would the Ottoman Empire be influenced by these New World mines?

A) Classes would break out between Ottoman traders and European bankers over silvers value.

B) The silver mines of Peru and Bolivia would have little effect on the Ottoman Empire

C) Silver from the New World would have a lesser value in the Ottoman marketplace

D) Western Europe would grow economically from the influx of this precious metal

Question

History

Marina Duarte

17 July, 10:54

The Spanish silver mines of Peru and Bolivia provided Europe with a whole new currency. In what way would the Ottoman Empire be influenced by these New World mines?

A) Classes would break out between Ottoman traders and European bankers over silvers value.

B) The silver mines of Peru and Bolivia would have little effect on the Ottoman Empire

C) Silver from the New World would have a lesser value in the Ottoman marketplace

D) Western Europe would grow economically from the influx of this precious metal

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Answers (1)

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Pooch · Answer 1

The Ottoman Empire was an agrarian economy, labor scarce, land rich and capital poor. Majority of the population earned their living from small family holdings and this contributed to around 40 percent of taxes for the empire directly as well as indirectly through customs revenues on exports.

Explanation:

B.