Question

Philip II had inherited from Carlos V, upon his abdication, a considerable portion of the former king's empire, but the empire was desperately in need of money despite its tremendous political power. From where, other than heavy taxation, did the Spanish monarchy obtain money? Group of answer choices from the silver mines at Almadén from the mines of Latin America from its export industry

Answer 1

The correct answer is A) from the silver mines at Almadén.

Other than heavy taxation, the Spanish monarchy obtained money from the silver mines at Almadén.

Spanish King Philip II, son of Charles V, inherited a kingdom full of debts and the crown was short of cash to repaid the debt to its debtors. Historians consider that the debt ascended to 36 million "ducats" which was the currency of the time. So the king ordered heavy taxation to its territories and exploited the silver mines in Almaden, modern-day San José, California.