The Shifting Balance of Politics and Trade
nSpain's colonial system by the 18th century required serious reform.
nSpain was weakened by poor rulers, foreign wars, and internal civil and economic problems.
nFrance,
Britain, and Holland were dangerous enemies;
•During the 17th century they seized Spanish Caribbean islands and developed their own plantation societies.
nAs the Spanish mercantile and political system declined, the flow of silver dropped and the colonies became increasingly self-sufficient.
nLocal aristocrats took control over their regions, while corruption was rampart in government.
nCrisis came in 1701 when disputes over the Spanish royal succession caused international war.
nThe Treaty of Utrecht (1713) opened the colonies to some foreign trade and recognized the Bourbon family as rulers of Spain.
