Explain the phases (steps) Spain took to develop and monopolize the trade in the Americas
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Spain took to develop and monopolize the trade in the Americas in several ways.
- Firstly it claimed lands in America by getting Inter Caetera to Spain and Portugal from Pope Alexander VI.
- Through the Papal bull, Spain got authorized to colonize the New World.
- Secondly, they establish the mercantile system in which all the products from the colonies were sent to Spain.
- Bullion of gold and silver and agricultural products would profit Spain and expand her treasury which would help in expanding exploration and shipbuilding.
- Thirdly, Spain established the Casa de Contratacion (House of Trade) in 1503 to control trade in the colonies.
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