Spain Mercantilist Policies Were the Term Paper

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But the reason behind this is to centralize the power of Spain and to finance the defense of the Spain in impending wars.

Spain opted for a more centralized economy, with the motherland benefiting from its colonies. Among the changes that were implemented in the its colonies in the Latin America included reviving of the mining industry and establishment of Royal Mining Tribunal, tobacco monopoly and this also included monopoly of other industries such as sulphur, saltpeter, and playing cards and comercio libre or free trade within the Spanish empire, which is the most important among all the Bourbon reforms.

It was a long and steady upward development of Spain because the reforms failed to address the real problems Spain was facing politically and socially. Its colonies in the Americas were also struggling for independence, which would erupt in the years to come as inspired by the French revolution.

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The initial reforms made by the Bourbon kings made these colonies to work for the motherland economically. These problems and piracy in some colonies impeded the fast development that these reforms were able to bring.

Mercantilism was eventually removed to give way to a more free trade between Spain and its colonies, with Mexico and Venezuela being included afterwards. This allowed colonies to have a widespread exchange of goods with each other and the motherland. These move by Spain showed an economic increase in terms of agriculture and commerce. Even in Spanish America, there was an upsurge agriculturally and in the mining industry. However, these reforms were not of much help in these colonies, as there were a growing unrest and clamor for independence which would later explode, and cause Spain to lose some of its profitable colonies in the West......

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