The amalgamation, or patio, process was discovered after mid-century. Utilizing mercury in the production of silver, it immensely increased the efficiency and productivity of the mines which fed the desires and ambitions of both Spaniards in the New World and in the Old World. We also discussed the impact of silver on Spain and Europe. Yet, while all the silver flowed into Spain, much of it simply passed through onto the commercial and nascent industrial emporiums of England, the Lowlands, and France which were leaders in the industrial revolution. Certain theories also drove economic thinking of the times.
Specie is sometimes also interchangeable with bullion.
Furthermore, the mercantile theory advocated the acquisition of colonies to supplement and enhance the ecnomies of the mother countries. What is important to remember is that within all these theories, the acquisition of empires became a driving goal of European foreign policies from the sixteenth century onwards, and, for many, the Spanish colonies, rich in silver, were the epitomy of successful colonies.