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Conclusions of mercantilism
Mercantilism in the colonies
Conclusion of mercantilism
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Throughout the course of history, new ideas have emerged and often changed relationships in society. Different historical circumstances are the reasons these ideas have come up. England and the thirteen colonies have had both positive and negative effects on their relationships due to these ideas. For example, two ideas were the Theory of Mercantilism and Salutary Neglect. According to vocabulary.com , "mercantilism, is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals." Basically, mercantilism is when the mother country, England in this case, uses the thirteen colonies and its natural resources as a way to profit/make
money. With mercantilism came the Navigation Acts, they were hand in hand. These Navigation Acts were passed so that the thirteen colonies could not trade with other countries and England would be the only one to profit from them. This had a negative effect on their relationship because the colonist begin to resent the Navigation acts and start smuggling goods to other countries. In doing this, it damaged England and the colonies relationship causing England to "punish" the colonies. Another example is the Salutary Neglect. The Salutary Neglect came to be after the Glorious Revolution which was when England's king changed from James II to William and Mary in 1688. Basically what the Salutary Neglect was, was a policy of relaxing the enforcement of regulations in its colonies in return for the colonies’ continued economic loyalty. This allowed the colonies to do what they pleased as long as England was still profiting off of them. In this time in history, the relationship between the mother country and the colonies was positive. Both the colonies and England were happy. The colonies were being self-ruled and independent and England was not in their bushiness, while still making their money.
It was expected to result in a favorable balance of trade, with imports not exceeding exports. The significance of this term is that this system allowed gold and silver to flow into England, bringing economic expansion. As a result, these mercantile policies laid the ground for overseas colonization and allowed England to rise as a challenge to Spanish power in the New World.
In a similar economic revolution, the colonies outgrew their mercantile relationship with the mother country and developed an expanding capitalist system of their own. In England, the common view was that the colonies only purpose was to compliment and support the homeland. This resulted in a series of laws and protocols called th...
In a similar economic revolution, the colonies outgrew their mercantile relationship with the mother country and developed an expanding capitalist system of their own. With Britain's reliance on the mercantile system it rubbed off on most of the colonies. They wanted to be self sufficient so that they would not have to resort on help from other countries. The Southern colonies for example relied heavily on trade with England. This was caused by the geography in the south, because it was mostly a tidewater region. This allowed ships to sail deep within the south. Therefore cotton from Georgia was sent across to England, then it was made into thread or such. It was then sent back to the colonies were it was to be made into various items. Due to the geographic location of the northern ...
During the late 16th century and into the 17th century, European nations rapidly colonized the newly discovered Americas. England in particular sent out numerous groups to the eastern coast of North America to two regions. These two regions were known as the Chesapeake and the New England areas. Later, in the late 1700's, these two areas would bond to become one nation. Yet from the very beginnings, both had very separate and unique identities. These differences, though very numerous, spurred from one major factor: the very reason the settlers came to the New World. This affected the colonies in literally every way, including economically, socially, and politically.
During the 1700's, people in the American colonies lived in very distinctive societies. While some colonists led hard lives, others were healthy and prosperous. The two groups who showed these differences were the colonists of the New England and Chesapeake Bay areas. The differentiating characteristics among the Chesapeake and New England colonies developed due to economy, religion, and motives for colonial expansion. The colonists of the New England area possessed a very happy and healthy life. This high way of living was due in part to better farming, a healthier environment, and a high rate of production because of more factories. The colonists of the Chesapeake Bay region, on the other hand, led harder lives compared to that of the colonists of New England. The Chesapeake Bay had an unhealthy environment, bad eating diets, and intolerable labor.
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...
While under English control, each of the three regions of colonial America developed its own economic system- plantation agriculture was based in the Southern colonies, but other sectors of the economy flourished in the Northern and Middle colonies (along with some forms of agriculture). The natural resources that were available at the time provided the foundation for each region’s unique specialty. However, one could argue that these economies eventually led to the development of certain social issues within colonial society, such as the cruelty of slavery, the Salem Witch Trials, and even the lack of available labor in Maryland.
...arate societies by the time of the 1700's. Agriculture, motive, people, religion, and terrain are all factors that affected how they grew apart. However, it is also through the actions of the men and woman who settled in the regions and the choices they made that led to the development of two societies. The Chesapeake region became a society of money-driven, wealthy plantation owners, virtually no middle class workers, and those in extreme poverty. The New England colonies, in contrast, developed into a society of middle class family men who placed extreme emphasis on religion. The two societies in what would become one nation may have had effects on America in the future. The dispute over slavery, the imbalance of workers, and the class differences cause rifts between the two regions over time. Two radically different cultures cannot coincide in harmony forever.
In 1419, Prince Henry the Navigator of Portugal began the period of time known as the “Age of Exploration”. Europe’s leading superpowers, France, Spain, Portugal, Holland, and England, all competed for colonization in unknown territories. Samuel de Champlain colonized along the St. Lawrence River in 1608, Henry Hudson of Holland established Albany in 1609, and Spain established colonies in Mexico and Mesoamerica. In 1607, England established its first colony in North America around the Chesapeake Bay, and nearly a decade later established a second colony in present-day New England. Both New England and the Chesapeake were founded by the British around the same time; however, both colonies developed a different economy, government, and many other ways of life.
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...
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).
What major problems did the young republic face after its victory over Great Britain? How did these problems motivate members of the elite to call for a federal constitution?
Even before the French and Indian War, political harmony between the colonies and the British was already being breaking down, due to all of the new acts that were passed in accordance with the mercantile theory of economics. This theory of economics believed that the goal of the individual should be to increase the total wealth of the country, and that the world wealth was finite. The British believed that the colonies only existed to increase the wealth of Britain.
One of the darker causes for the Industrial Revolution was the slave trade with overseas colonies at the time. For many merchants who saw the easy money to be made from the voyages, the merchants became extremely rich – and as it is in human nature – these rich merchants wanted to become even more rich, the seemingly best way to do this was to invest profits from the slave trade into the new factories that were arising, this is called “Commercial Revolution”. Britain was one of the few countries that was able to bring in profits from other countries and keep profits in their country, aiding them into being the first country to Revolutionise Industrially.