 The loss of a vast colonial empire reduced Spain's overall wealth, and by 1820 it had become one of Europe's poorest and least-developed societies; three-fourths of the people were illiterate.There was little industry beyond the production of textiles in Catalonia.Natural resources, such as coal and iron, were available for exploitation, but the transportation system was rudimentary, with few canals or navigable rivers, and road travel was slow and expensive.