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In 1297, King Dinis of Portugal took personal interest in the development of exports and organized the export of surplus production to European countries. On May 10, 1293, he instituted a maritime insurance fund for Portuguese traders living in the County of Flanders, which were to pay certain sums according to tonnage, accrued to them when necessary.
[1] [2] During this period, Portugal was the first European power to begin building a colonial empire as during the Age of Exploration Portuguese sailors and explorers discovered an eastern route to India (that rounded the Cape of Good Hope) as well as several Atlantic archipelagos (like the Azores, Madeira, and Cape Verde) and colonized the ...
In 1506, King Manuel I of Portugal created taxes for the cod fisheries in Newfoundland waters. [citation needed] João Álvares Fagundes and Pero de Barcelos established fishing outposts in Newfoundland and Nova Scotia around 1521. These were later abandoned, however, when Portuguese colonizers began to focus their efforts mainly on South America.
With the invasions by Napoleon, Portugal began a decline that lasted until the 20th century, it was hastened by the independence of Brazil in 1822, the country's largest colonial possession. In 1807, Portugal refused Napoleon Bonaparte 's demand to accede to the Continental System of embargo against the United Kingdom; a French invasion under ...
European oceanic exploration started with the maritime expeditions of Portugal to the Canary Islands in 1336, [2] [3] and later with the Portuguese discoveries of the Atlantic archipelagos of Madeira and Azores, the coast of West Africa in 1434, and the establishment of the sea route to India in 1498 by Vasco da Gama, which initiated the ...
João IV was proclaimed king of Portugal in 1640 and the Portuguese Restoration War began. Even before the war's final resolution, the crown established the Overseas Council, conceived in 1642 on the short-lived model of the Council of India (1604–1614), and established in 1643, it was the governing body for most of the Portuguese overseas ...
Furthermore, local tribal leaders did not simply give up their own people for the aforementioned commodities but rather through intertribal wars, debts, and civil crime offenders. [5]: 54 Labor in the Spanish and Portuguese colonies became scarce. European diseases and forced labor began killing the indigenous people in insurmountable numbers.
The resulting European economic integration, consisting, among other factors, in relatively free markets that facilitated the bridging of labour shortages through migration from Portugal, as well as other southern European countries (such as Italy, Spain or Greece,) towards Central Europe (e.g. Germany) – so-called 'Gastarbeiter ...