| Book Review | The American Historical Review, 107.2

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| Book Review | The American Historical Review, 107.2 | The History Cooperative

Book Review

Caribbean and Latin America

José R. Deustua. The Bewitchment of Silver: The Social Economy of Mining in Nineteenth-Century Peru. (Monographs in International Studies. Latin American Series, number 31.) Athens, Ohio: Ohio University Center for International Studies. 2000. Pp. xvi, 290. $28.00.

Like petroleum in the second half of the twentieth century, precious metals lubricated the wheels of international capitalism between the early sixteenth and the late nineteenth centuries. Silver was always more important in the process than gold (despite the 1:16 differential in their values in terms of weight for most of the period), and most of it came from Spanish America. In the sixteenth and seventeenth centuries, the mines of the modern republics of Peru and Bolivia were the principal producers; in the eighteenth century, primacy passed to Mexico, which by 1800 was responsible for two-thirds of the annual Spanish American output of around 35 million pesos (or dollars), but mining continued to underpin both the internal and external economies of the Andean region, within which the mines of Lower Peru—notably Cerro de Pasco (better known in the twentieth century for its copper)—had become more important than the legendary Potosí in Upper Peru/Bolivia. . . .

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