Top ten vacation destinations for This argument is probably essentially correct, but the significance of spices as a sole cause for these events is overstated. Rather, the spice trade moved in tandem and interacted with a number of developments now considered crucial for capitalist development. The attractiveness of spices imported by Muslim traders both sustained the primacy of Muslim civilization and played an important role in eliminating Europe’s in kind payment system and returning it to a money economy by the end of the High Middle Ages. It has also been suggested that the desire for spices caused both the contraction of the European money supply at the end of the 15th century (the bullion famine) and was an important factor in motivating the desire of the Spanish crown to import American silver, which expanded the European money supply (and fed a steady inflation) in the 16th century. International business contacts fed the development both of financial instruments like the bill of exchange (a means of international currency exchange and money transfer before the advent of banking), and formal and informal institutions that guaranteed the enforceability of contracts. Increased business aided the development of uniform accounting procedures. These are all developments, however, that have their roots in the international luxury trade of the late Middle Ages; they are not specific to the spice trade. Top ten vacation destinations 2016.