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

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The economic nature of Spanish colonies in the sixteenth and seventeenth centuries was based on the principles of mercantilist theory, which emphasized the accumulation of wealth through a favorable balance of trade, the establishment of colonies to provide raw materials and markets for finished goods, and the use of tariffs and other economic policies to protect domestic industries. This focus on economic exploitation and control of the colonies was a hallmark of mercantilism, reflecting the drain that colonies placed on their mother countries.

The Economic Nature of the Spanish Colonies in the Sixteenth