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Mercantilism and european economy 17th and 18th centuries
Mercantilism role in colonial growht and imprerial control
Mercantilist colonialism
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The British believed that the colonies solely existed to benefit the home land, not the settlers that worked and lived in the colonies. The economic doctrine that the British government used was referred to as Mercantilism. The power of the nation was dependent on the value of the exports it produced. With the government controlling the foreign trade they felt more powerful than they were. British government installed numerous restrictions on to the colonies. This determined how certain colonies within the kingdom could spend money, enabling a tighter grip on the economy. The long arm of Brittan was able to control the goods the colonies could harvest or produce, even who they could trade with and the ships that could be used. This greatly
limited the colonies in many aspects of growth. Brittan government used mercantilism to manage the trade surpluses. The trade surplus could then bring larger quantities of precious metals such as silver and gold back to the capital, London. Brittan used taxation of and duties from local merchants in London to upscale the Royal Navy. The Navy was then able to build a better fleet of ships to protect goods throughout the territories within their empire. With the restrictions of mercantilism flourishing, the British were able to have a strangle hold over the colonies, forcing them to think and act how the British government wanted. Brittan flourished while having control over the kingdoms foreign trade
When the colonies were being formed, many colonists came from England to escape the restrictions placed upon them by the crown. Britain had laws for regulating trade and collecting taxes, but they were generally not enforced. The colonists had gotten used to being able to govern themselves. However, Britain sooned changed it’s colonial policy because of the piling debt due to four wars the British got into with the French and the Spanish. The most notable of these, the French and Indian War (or the Seven Years’ War), had immediate effects on the relationship between the colonies and Great Britain, leading to the concept of no taxation without representation becoming the motivating force for the American revolutionary movement and a great symbol for democracy amongst the colonies, as Britain tried to tighten their hold on the colonies through various acts and measures.
Between the settlement of Jamestown in 1607 and the Treaty of Paris in 1763, the most important change that occurred in the colonies was the emergence of a society quite different from that in England. Changes in religion, economics, politics, and social structure illustrate this Americanization of the transplanted Europeans.
After the French and Indian War ended, England had massive debt and little revenue, so Parliament passed laws taxing the American colonists to aid in paying for the British army and navy that helped protect the colonies. Parliament passed a series of laws, including the Sugar Act and Stamp Act, which taxed goods purchased by the colonists. Colonial merchants, who did not feel they should be taxed without representation in Parliament, signed non-importation agreements promising not to buy or import British goods. There was a lot of violence committed on the customs officials who were enforcing the...
One facet of this unique system involved the numerous economic differences between England and the colonies. The English government subscribed to the economic theory of mercantilism, which demanded that the individual subordinate his economic activity to the interests of the state (Text, 49). In order to promote mercantilism in all her colonies, Great Britain passed the Navigation Acts in 1651, which controlled the output of British holdings by subsidizing. Under the Navigation Acts, each holding was assigned a product, and the Crown dictated the quantity to be produced. The West Indies, for example, were assigned sugar production and any other colony exporting sugar would face stiff penalties (Text, 50). This was done in order to ensure the economic prosperity of King Charles II, but it also served to restrict economic freedom. The geographical layout of the American colonies made mercantilism impractical there. The cit...
The British rule that was established in the colonies was oppressive and unfair. The British rule was immoral because Parliament contained a totality of British politicians who only cared about Britain’s wants and needs. The Colonists, “wanted the right to vote about their own taxes, like the people living in Britain. But no colonists were permitted to serve in the British Parliament.” (Ember) This unfairness led to many unwanted laws such as the Intolerable Acts and the Stamp Act. These laws did not benefit the colonists in any way, but the acts significantly helped the British. Laws and acts were forced
Self-interest can be seen in many of the writings throughout American history. The mercantile system, as exhibited by the British on the colonies, was an extremely hedonistic approach to gaining wealth for themselves. Mercantilism, as set forth by the Navigation Acts, imposed strict and extremely descriptive laws that would limit and exploit trade in the colonies, allowing Britain to control the wealth and profit of materials and goods in America. These acts were used to keep America from trading with any other countries. As stated in the Navigation Act of 1660, "no goods or commodities whatsoever shall be imported into or exported out of any lands" to his Majesty belonging"in any other ship or ships...as do truly and without fraud belong only to the people of England or Ireland" (Restoration 98). Britain knew that by controlling the colonies in this manner they could take the raw materials out and sell the finished products back, and by doing so they would profit greatly. This mercantile system exemplifies the arrogant minds of the British while America was developing. This system would soon become a failure due to the people's demands to have representation along with taxation, and their desire to separate from England as a free and independent state. Likewise, it was due to self-interest of the greedy planters and the self righteous farmers in the south that slavery was highly used. At that time they needed all the labor they could get, and the cheapest way to obtain it was through the purchase of slaves. Some of the slavery was downplayed by calling it indentured servitude, where servants were essentially slaves for a limited number of years.
In a similar economic revolution, the colonies outgrew their mercantile relationship with the mother country and developed an expanding capitalist system of their own. England's economic system was primarily based on mercantilism, which was directly related to the colonies. This concept of mercantilism said that wealth is power and however much power you have is how much gold and silver one country has in its treasury. For this concept to take place, England had to export more than import. Because the colonies had the raw materials needed England set up laws such as navigation laws to restrict what the colonies coul...
The British were motivated to explore North America so they could evangelize and share the glory of God, obtain wealth, and trump rival European nations. With the flow of British colonists into North America increasing, colonies started to flourish. Economies started to boom and there was a growing reliance on forced labor. The English became increasingly aware that coercible labor would be the primary method of maintaining a successful economy. From 1600 to 1763, interactions between Europe and the British American colonies shaped the labor systems of the colonies. A major change was the shift in the source of the workforce, but the reliance on forced labor stayed the same.
One way of the British controlling the colonies was to impose trade regulations on them. They forced the colonies to trade only with them, as dictated by the Navigation Acts and the mercantile system.
Economic concerns of the British caused the colonization of British North America. Such economic concerns included the opportunity to acquire gold, silver, a North American waterway that would lead directly to China and the Indies, and the prospect of countering Spain's dominance in North America (Boorstin et al. 34). In addition to these economic reasons for colonization, the English were also seeking to obtain the essential "raw materials" in America that they had been previously buying from other European countries for exorbitant amounts of money and gold (Boorstin et al. 34). Great Britain also sought to solve other economic problems through American colonization. For example, England needed to replenish some of its diminishing materials and assets, generate another "market" to export its cargo and merchandise, maintain its powerful navy and "merchant marine" through business with new American colonies, and to provide a new place for the unemployed to settle rather than escalating populace/crime and the economic burden in its own cities (Boorstin et al. 34).
A new era was dawning on the American colonies and its mother country Britain, an era of revolution. The American colonists were subjected to many cruel acts of the British Parliament in order to benefit England itself. These British policies were forcing the Americans to rebellious feelings as their rights were constantly being violated by the British Crown. The colonies wanted to have an independent government and economy so they could create their own laws and stipulations. The British imperial policies affected the colonies economic, political, and geographic situation which intensified colonists’ resistance to British rule and intensified commitment to their republican values.
The British also implemented new taxes. The Sugar act of 1764 sought to reduce smuggling, which occurred partly as a result of the earlier Molasses Act. This gave British possessions in the Caribbean the upper hand in sugar trade, which in the British view helped the empire as a whole, but to Americans, and especially the merchants, this put limits on their opportunities. The Currency Act, passed about this time forbade the printing of colonial currency. British merchants benefited because they didn't have to deal with inflated American currencies. The Americans felt they were at an economic disadvantage as very little sterli...
In a similar economic revolution, the colonies out grew their mercantile relationship with England and developed their own expanding capitalist system. The idea of a set amount of wealth in the world and that if one were to become wealthy, he or she had to take from someone who is already wealthy, is basically what mercantilism means.
Great Britain had economic interests in the Atlantic colonies since the 16th century. Through many laws, acts and conquests, Britain sought to control and influence the colonies. Britain ultimately failed in this endeavor. Though the British government could divide and allot the land as they pleased, they could not control it effectively. By the end of the French and Indian War, they had lost all of their ability to control the Atlantic colonies.
Therefore it was relevant to state why Britain became an imperial power, in order to consider the benefits achieved from gaining such power at that time. Industrialisation helped Britain at home and abroad, as she was able to maintain employment for the population, while further increasing trade upon world markets. The advantage to Britain gaining advancements in technology resulted in increasing trade between colonies and also generating further profits and increasing revenues. Therefore Industrialisation created a prosperous economy, while providing Britain with the tools of Empire. Britain’s economic ability and society initiated capitalists to take risks causing the British nation to expand, while creating financial stability. The surge in population also assisted as it was due to the influx of workers that Britain had the man-power to build on industry and trade, it also helped to create a consumption based society. The expansion of colonial territories helped to gain raw materials from other nations, creating further markets and acquiring safe naval and supply stations, which secured the nation. Colonial expansion also initiated Britain to take control and defend her nation. Free-trade initiated Britain as it was a pre-emptive attempt to protect their existing trade links, it also contributed towards a democratic culture in Britain. British politics