The Latin American silver trade was badly hit due to the wars of Latin American independence in the 1800s to 1820s. As a result, the world's silver production was impacted badly. This was a key cause of China's fiscal issues in the 1830s and 1840s. This was very bad for China since China was on the silver standard. It was only in the 1850s did world silver production from Latin America recovered which helped fuel the Chinese fiscal revival.