New Spain was a major seat of Spanish power and the source of its wealth in the early 1600s. This wealth made Spain the dominant power in Europe. Spain's silver mining and crown mints on the American continent created high quality coins known as the silver peso or Spanish dollar that became the currency of Spanish America and a widely used global currency.

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Audio credits: Creator of Don Quixote: Cervantes by Not Just the Tudors podcast with Suzannah Lipscomb & guest William Egginton (History Hit). Audio excerpts reproduced under the Fair Use (Fair Dealings) Legal Doctrine for purposes such as criticism, comment, teaching, education, scholarship, research and news reporting.