The economic nature of the Spanish colonies in the sixteenth and seventeenth centuries reflected:

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The economic nature of the Spanish colonies in the sixteenth and seventeenth centuries reflected the principles of mercantilist theory. This theory held that colonies existed primarily to serve the economic interests of the mother country, and that exports should exceed imports in order to accumulate wealth. The Spanish colonies were heavily regulated and restricted in terms of trade, with the goal of maximizing profits for Spain.

The Economic Nature of the Spanish Colonies in the Sixteenth