Simplify the following text for a Grade 7 native English-speaking person.
Original: In the 17th century , Run was of great economic importance , due to the value of the spices nutmeg and mace which are obtained from the nutmeg tree ( Myristica fragans ) , once found exclusively in the Banda Islands .
Simplified: It used to be of great importance , because of the value of the spices nutmeg and mace .