It Is Estimated That About One-Third of the Silver Bullion

question 22

Multiple Choice

It is estimated that about one-third of the silver bullion taken out of the colonies by Spain ended up

• A) paying for a war with France.
• B) going to the Catholic church.
• C) going to China to pay for silk and porcelain.
• D) in the hands of the Spanish government.
• E) causing a long-lasting, world-wide inflation.