In 1545, The Mines Of Potosi Were Discovered;
These, And The Principal Mexican Mine, Discovered Soon Afterwards, First
Brought A Permanent And Valuable Revenue To Spain.
But it was long after
this before the Spaniards, or the other nations of Europe, could be
convinced that
America contained other treasures besides those of gold and
silver, or induced to apply that time, labour, and capital, which were
requisite to unfold all the additions to the comforts, the luxuries, and
the health of man, which the New World was capable of bestowing. When,
however, European skill and labour were expended on the soil of America,
the real and best wealth of this quarter of the world was displayed in all
its importance and extent. In addition to the native productions of
tobacco, indigo, cochineal, cotton, ginger, cocoa, pimento, drugs, woods
for dying, the Europeans cultivated the sugar cane, and several other
productions of the Old World. The only articles of commerce supplied by the
natives, were furs and skins; every thing else imported from the New World
consists at present, and has always consisted of the produce, of the
industry of Europeans settled there.
But though it was long before Europe derived much direct benefit from the
discovery of America, yet in one important respect this discovery gave a
great stimulus to East India commerce. Gold and silver, especially the
latter, have always been in great demand in the East, and consequently the
most advantageous articles to export from Europe in exchange for Indian
commodities.
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