Illustrated Treatise on the World

Volume 1: Nations of the Southern Continent

Page 3

Silver is ranked as the foremost in the world here. Its mines contain four main shafts, the deepest of which reach two hundred zhang original: 丈 (zhàng); a unit roughly equal to 3.3 meters or 11 feet, making the mines over 2,000 feet deep. The locals construct flexible ladders out of cowhide to descend into them. There are usually thirty thousand laborers working there. Of the gold and silver obtained, the King takes a one-tenth share A reference to the colonial Spanish tax; though often a "royal fifth" (quinto real), rates varied. Approximately every seven days, the tax collected amounts to thirty thousand taels of silver.

At the foot of the mountain lies a city named Silver City original: 銀城 (Yín Chéng); referring to Potosí, the legendary silver-mining center in modern Bolivia. Here, all commodities are exceedingly expensive, while silver alone is considered extremely cheap. For trade, they use five denominations of silver coins: the largest weighs eight qian original: 錢; about 1 ounce, referring to the famous Spanish "Piece of Eight", and the smallest is five fen. There are four denominations of gold coins: the largest is ten taels, and the smallest is one tael.

Since Europe original: 歐羅巴 (Ōu-luó-bā) opened these trade routes, the gold and silver obtained through yearly commerce has been immense. Consequently, in the Western lands, the value of gold and silver has gradually decreased, while the price of rice, grain, and daily necessities has gradually risen This is a remarkably early Chinese observation of the "Price Revolution" or the massive inflation caused by the influx of American bullion into Europe. Wise observers believe that in the future, they will suffer from the burden of having too much gold; however, because the profits are currently so thick, they cannot bring themselves to stop, even though they know the danger.

The place where the Northern and Southern lands meet is called an Isthmus original: 地峽 (dìxiá); referring to the Isthmus of Panama. Located south of eighteen degrees North latitude near the Equator, it is the point through which North and South America original: 亞墨利加 (Yà-mò-lì-jiā) are connected. From this point, the two great oceans of the East and West...