The process of extracting silver from mines, typically referring to the extraction of silver from New World mines during the period of Spanish colonization.
Related terms
Mercantilism: An economic system where colonies provide raw materials for their mother country's industries and are restricted from trading with other nations.
Inflation: A general increase in prices and decrease in the value of money, often caused by an excess supply of currency.
Economic Dependence: Reliance on a single resource or industry for economic stability, which can make a country vulnerable to fluctuations in that industry.