Mexican Silver Mining in the Eighteenth Century: The Revival of Zacatecas

For well over three hundred years—from the late sixteenth century until the 1870s—silver was Mexico’s chief export, nearly always amounting to more than 70 percent of the total. During the first American silver boom, from the 1570s to the 1630s, the Mexican industry was overshadowed by the mines of Upper Peru, which supplied Spain with 65 percent of its registered bullion imports from the New World. The absence of more detailed accounts makes it difficult to evaluate the several financial advantages which Borda enjoyed. Compared to his predecessors he was able to reduce costs in both the mining and the refining stages of his enterprise; in addition, he obtained considerable tax exemptions. Borda’s intervention brought about a major renewal of personnel in the Zacatecas mining industry.