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Importance of American money
The gold and silver that was imported by Spain ensured that the price of the goods and mercandice would not fall. In some occasions the price would actually rise either due to a serplus of the goods or the people were buying and therefore the companies tried to get more money. If the price were to fall, this coul be very harmful to the sellers because the would, in the long run have to buy more goods before they had the money to sell anything
If the price level were to fall, however the merchants might not be able to sell enough to pay back all that they have and would have to go bankrupt. This basically says that withouut American money the economy of other countries could and would have a significant fall.
If the price level were to fall, however the merchants might not be able to sell enough to pay back all that they have and would have to go bankrupt. This basically says that withouut American money the economy of other countries could and would have a significant fall.