The first century of Spanish colonization in Latin America witnessed the birth of cities that, while secondary to great metropolitan centers such as Mexico City and Lima, became important hubs for regional commerce. Santiago de Guatemala, the colonial capital of Central America, was one of these. A multiethnic and multicultural city from its beginning, Santiago grew into a vigorous trading center for agrarian goods such as cacao and cattle hides. With the wealth this commerce generated, Spaniards, natives, and African slaves built a city that any European of the period would have found familiar.

This book provides a more complete picture of society, culture, and economy in sixteenth-century Santiago de Guatemala than has ever before been drawn. Robinson Herrera uses previously unstudied primary sources, including testaments, promissory notes, and work contracts, to recreate the lives and economic activities of the non-elite sectors of society, including natives, African slaves, economically marginal Europeans, and people of mixed descent. His focus on these groups sheds light on the functioning of the economy at the lower levels and reveals how people of different ethnic groups formed alliances to create a vibrant local and regional economy based on credit. This portrait of Santiago also increases our understanding of how secondary Spanish American cities contributed vitally to the growth of the colonies.

The discovery of the New World was initially a cause for celebration. But the vast amounts of gold that Columbus and other explorers claimed from these lands altered Spanish society. The influx of such wealth contributed to the expansion of the Spanish empire, but also it raised doubts and insecurities about the meaning and function of money, the ideals of court and civility, and the structure of commerce and credit. New World Gold shows that, far from being a stabilizing force, the flow of gold from the Americas created anxieties among Spaniards and shaped a host of distinct behaviors, cultural practices, and intellectual pursuits on both sides of the Atlantic.

Elvira Vilches examines economic treatises, stories of travel and conquest, moralist writings, fiction, poetry, and drama to reveal that New World gold ultimately became a problematic source of power that destabilized Spain’s sense of trust, truth, and worth. These cultural anxieties, she argues, rendered the discovery of gold paradoxically disastrous for Spanish society. Combining economic thought, social history, and literary theory in trans-Atlantic contexts, New World Gold unveils the dark side of Spain’s Golden Age.