What if instead of independence for the American colonies of Spain, they're turned to Dominions supported by a Commonwealth. (i.e. British Dominions: Canada, Australia, New Zealand, Newfoundland, and South Africa). They would be granted self-governing status while Spain takes care of their foreign affairs and military. Lets say Mexico, Argentina (incl. Uruguay), Peru, Colombia, Chile (1853), are granted dominion status. How would this affect Spain's power? Would Spain still be a lot stabler if there was an option like that? Would these countries in Latin America be more stabler, prosperous, and less corrupt? Would Spain lose the Spanish-American War? Would Spain, Argentina, and Chile be great powers in addition to France, UK, and the United States. And finally, why was there never this option?