quality:corruption, information:filtering, structural:expansion, information:extraction, stylistic:tone
Silver

The enormous quantities of silver imported into Spain and China created vast wealth but also caused inflation and the value of silver to decline. In 16th century China, six ounces of silver was equal to the value of one ounce of gold. In 1635, it took 13 ounces of silver to equal in value one ounce of gold. Taxes in both countries were assessed on the weight of silver, not its value. The shortage of revenue due to the decline in the value of silver may have contributed indirectly to the fall of the Ming dynasty in 1644. Silver from the Americas financed Spain's attempt to conquer other countries in Europe. The decline in the value of silver left Spain faltering in the maintenance of its world-wide empire and retreating from its aggressive policies in Europe after 1650.