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Thus, the new definition of wealth came to mean the gain of cash or specie. Specie included gold, silver, or bullion. The wealthiest nation became the one with the most cash, and therefore, the most powerful nation. As the redefining of wealth took hold, there was an increased desire and ability to conduct foreign trade on a larger scale as cash became the new medium of exchange in contrast to bartering. Mercantilism began to take hold of the countries of Europe. Mercantilism was characterized by the governmental regulation of industries, trade, and commerce. This was especially true with foreign trade, and was determined more by national aims rather than individual or local interests...
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