Figure 1.--Here we see Native Aerican workers in a Mexican silver mine. We have been unable to find details about the image, but it would have been taken about 1900. Looking at the image, you begin to understand a little about the intensity of the Mexican Revolution (1910-20). This helps date the phtotograph. While the PRI took Mexico down many faile economic paths, you no longer see images like this after the Revolutio9n. yopn/

Economic historians tend to focus more on gold than silver, but silver arguably has had a greater economic economic impact than silver. A very small percentage of the humans who have ever lived on earth have ever held a gold coin. Countless people have held silver coins. The first known coins were from Ephesus and Lydia and were struck in elctrum, a naturally occurring alloy of gold and silver (7th century BC). Silver played a major role in the rise of Western civilization Silver mines were an important part of Athens' success (4th cetury BC). Silver fueled Rome's expansion, especially mines in Spain. After defeating Hanibal in the Second Punic War (218–201 BC) silver from Spanish silver mines once controlled by Carthage helped fuel Rome's expansion (2nd-1st centuries BC). (Isotope analysis can help determine the source of metals in ancient coins.) Greek and Roman mine workers were commonly slaves. The dollar was derived after a German silver coin--the Thaler. The famous Spanish pieces of eight was also a silver coin. The silver that the Spanish Conquistadores set back home to Spain caused an inflation that had a huge economic impact on Europe (16th century), but the major impact came when the Spanish found a mountain of almost purse silver--Potosi in modern Bolivia (1545). At virtually the same time as an amazing incidence of serendipity, demand for silver sky rocketed. Emperor Wanli of China during the Ming Dynasty ordered his subjects to pay their taxes in silver (1541). Production at Potosí was impressive, but new smelting methods resulted in massive production (1609). China at the time was the greatest power on earth with an economy far greater than that of Europe. China produced luxury goods that the Europeans coveted (porcelain, silk, tea, and other goods). The Europeans rounded the Cape of Good Hope and reached India and China (turn of the 15th century). The problem for intentional trade was that the Europeans produced very little the Chinese wanted. Silver solved the European's problem. Potosí and Mexican mines were the world's major source of silver (16th-18th centuries). The Spanish enslaved the Amer-Indian population to work the mines. But even in the early-20th century, conditions were horrific. The Spanish production and the voracious Chinese demand dominated the world economy. The Spanish supplied the silver facilitating international trade via the Philippines using the Manila Galleons. Silver was discovered in the United States --the Comstock Lode (1859) Most American silver coins were minted after this discovery--delayed by the Civil War and coming of the railroad. The free coinage of silver became a major issue in American politics. Democratic presidential candidate Williams Jennings Bryan charged, "You shall not crucify mankind on a cross of gold." Silver is not only a monetary metal, buy used in jewelry a well as many industrial processes--especially electronics. Silver played an important role in building the World War atomic bombs (1940s).

Created: 4:00 AM 9/22/2025
Last updated: 4:00 AM 9/22/2025