As the 18th century came to a close, the relationships between the Spanish and Portuguese monarchies and their respective colonies in the Americas had become strained by modernizing reforms, rebellion, and wars in Europe.  The liberalization of the trade monopoly had created prosperity in most of the colonies, but the people living in those colonies did not benefit much from the prosperity.  Instead, the money went to the Iberian monarchies and the wealthy Spanish landowners.  Creoles in Latin America were also frustrated by their subordination to the Spaniards.