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Peninsulares - People born in Spain who could hold the highest offices in the New World. Creoles - Spanish people who were born in the New World. Along with the Peninsulares, they controlled most of the wealth. Mestizos - People of European and Native American ancestry.
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SO basically yeah ik its so easy cmon u got thsi
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Language
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Many languages stem from Latin, and Roman explorers teaching Latin to the natives helped develop their communication further. So that is why it's called Latin America.