England promoted their country through prosperity and economic growth through mercantilism, the belief in economic trade. This allowed them to prosper because they maintained a favorable balance of trade. Prosperity relates to how a country thrives economically due to the amount of wealth a nation has as a whole. England built up their economy by exporting more than they imported, being involved in the triangle trade, while also keeping the colonies connected through trade and the consumption of goods. In the late 17th and early 1800’s England began to prosper and thrive with wealth; promoting their economy.
England’s economy was upheld through the transportation of goods. In order to prosper as a whole, Britain extended its trade outside of Europe. The triangular trade helped sustain a favorable balance of trade for England. Regulations such as the Navigation Act of 1651 allowed England to trade with the colonies in North America. It also forced the American colonies to export their goods on British ships with British crew members heading to English ports.. The act also controlled how trade was transported to Europe. Trade was exported to Britain first,
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allowing England to tax these goods and make a profit. In turn, England prospered because they were able to control where the goods entered into Europe. England acquired a favorable balance of trade by exporting more than they imported. Therefore, England as a whole flourished and thrived economically through wealth, and their economy was promoted. Another way that England developed a economy of wealth was through the control of goods and the regulations and restrictions that were imposed through the process of enumerated goods.
The colonists were instructed by England to ship all of their enumerated products that were being exported to Europe through Britain first before then being distributed to Europe. This allowed Britain to tax these goods and make a profit from them. One regulation that England made was that they restricted mass production of certain goods. As a result of this restriction, England thrived. This was due to fact that they focused on producing one main product that they were good at making, then shipping it to England. These products were then dispersed throughout England. As a result, England’s economy grew and prospered
economically. England upheld their national economy by influencing the consumption of goods. England used the mechanism of subsidizing, or covering some of the cost, of higher priced goods to promote their economy. This allowed more and more colonists to be able to purchase these goods because they became more affordable. This in turn helped England to grow in wealth. If more people purchase the goods that England was selling, that would make more money than if the goods were overpriced so not a lot of people could afford it. In addition to covering the cost of overpriced products, England also extended credit. They did this by charging the cost of the entire purchase including transportation. They then compared this to the amount of money they would make overall from that product. This allowed the product as a whole to be cheaper allowing more people to afford it. As a result, England collected more money because they subsidized and extended credit, cutting a lot of the cost for the colonists. Prosperity and economic growth impacted how England's economy thrived. England promoted their economy in many different ways. Mercantilism, having a favorable balance of trade, subsidizing goods, and extending credit were some factors that influenced England’s wealth. As a result, England’s wealth and economy flourished, promoting their economy, because of these influences in the late 17th and early 18th hundreds.
After the Seven Years Way England was broke for she had spent more money needed to win the war. Also winning the war gave the colonist a “we can do it spirit”. However because England now was facing debt she decided to tax the colonies. One the first acts passed was the sugar act passed in 1764. This Act was the raise revenue in American colonies. What it did was lowered the tax from six penses to three penses per gallon on foreign molasses. Molasses is a product made by refining sugarcane, grapes or sugar beets into sugar. This upset the colonist because before the sugar act they didn’t have to pay the tax so even if it was lowered that meant nothing for they now had to pay for it. A year later, in 1765, the Britain’s passed another act known as the Stamp Act. The Stamp Act put a tax on stamped paper, publications, playing cards, etc. Because it was on all paper products in a way it affected everyone; from the papers for the upper class such as lawyers, publications such as newspapers for the middle class, and playing cards for the lower class for entertainment. Next, the Townshend Act passed by Charles Townshend. This came in 1767, which imposed taxes on colonial tea, lead, paint, paper, and glass which just like the Stamp Act affected all of the classes in the colonist in the Americas. Though this act was removed three years later in 1770, it still left colonists with a warning that conditions may become worse. Around 1773, parliament passed the Intolerable Acts one of those acts which affected taxation was the Bost...
For example, the Navigation Acts of 1660 and 1663 specified a number of key trade related rules. First, they specified that all colonial trade had to be carried on ships owned by British or colonial traders. Secondly, all colonial goods bound for North America had to pass through certain English ports, in order to be taxed and monitored. Finally, enumerated goods such as sugar were to be shipped only to English ports. Despite these laws existing, the government in London did not enforce them strictly up until 1763. This policy is often referred to as ‘salutary neglect’ and it had the effect of introducing a perceived sense of autonomy and self-determination in the North American colonies. Following 1763, the British government began to enforce the Navigation Acts British lawmakers began to introduce more Acts which further restricted and monitored colonial trade and increased taxes. To the parliament in London this was just enforcing and building upon old laws, an opinion that was not shared by the
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 the early eighteenth century consumer goods flooded American markets, the colonists needed to sell what they produced in order to purchase British goods that were beyond their ability to manufacture and therefore made them feel more a part of the British "empire of goods".
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 ...
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...
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.
The imperial tactics of the British Empire were exercised on the colonists through heavy taxes trade restrictions because of their mercantilist economy. The Stamp Act taxed the colonists directly on paper goods ranging from legal documents to newspapers. Colonists were perturbed because they did not receive representation in Parliament to prevent these acts from being passed or to decide where the tax money was spent. The colonists did not support taxation without representation. The Tea Act was also passed by Parliament to help lower the surplus of tea that was created by the financially troubled British East India Company. The colonists responded to this act by executing the Boston Tea Party which tossed all of the tea that was imported into the port of Boston. This precipitated the Boston Port Act which did not permit the colonists to import goods through this port. The colonists protested and refused all of these acts which helped stir the feelings of rebellion among the colonists. The British Mercantilist economy prevented the colonists from coin...
In the years leading up to the American Revolution, important economic changes took place within the colonies as their economies transitioned from the previous subsistence farming and subsistence living type of economies into true consumer economies. (Devore, Lecture #3.) This shift toward a true consumerism society in the colonies, also known as Anglicizing the colonies, began to make the colonies more uniform and began to bring the colonies together into more of a cohesive unit. (Devore, ...
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.
Slaves and slave trade has been an important part of history for a very long time. In the years of the British thirteen colonies in North America, slaves and slave trade was a very important part of its development. It even carried on to almost 200 years of the United States history. The slave trade of the thirteen colonies was an important part of the colonies as well as Europe and Africa. In order to supply the thirteen colonies efficiently through trade, Europe developed the method of triangular trade. It is referred to as triangular trade because it consists of trade with Africa, the thirteen colonies, and England. These three areas are commonly called the trades “three legs.”
In order to continue controlling the economy of its colonies in America, the British Parliament passed acts and levied taxes against the colonists from the first Navigation Act as early as 1651. The British passed this series of ...