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16th century british policy of mercantilism
16th century british policy of mercantilism
The influence of British mercantilist policies on the 13 colonies in policies
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Unit 2: Long Essay Question Britain’s mercantilist policies from 1650 to 1750 was a barrier for trans-Atlantic trade, for laws such as the navigation acts of 1651 restricted buying and selling of foreign goods with Great Britain and it’s colonists to the rest of the world. Generally speaking, mercantilism believes in the benefits of profitable trading. Therefore, Great Britain established policies that would only be of advantage to them, the mother country. These policies, such as the Navigation Acts, only hindered British relationships with other nations. The Navigation Acts, passed by English Parliament in October of 1651 in need of money, were designed not only to make the government richer but to make Great Britain’s control of trade
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.
Trade was a vital part of the economy of both England and the British colonies. The colonies would provide a majority of raw materials that would be shipped to England where then they would process raw materials into goods and sell them at markets provided by the colonies. Within this system both England and the colonies depended on each other for commerce. To further enforce this system on their oversees empire England enacted the Navigation Laws. In 1650 the first of these laws was aimed at keeping trade between the colonies limited only to their mother country, England. The law restricted trade of such shippers as the Dutch, by stating all goods must be transported on English vessels to or from the colonies. This helped keep money within British control, but also increased both England’s and the colonies’ merchant marine. Further laws were passed, but none that imposed strict regulations on the colonies. In fact the colonies received advantages from the mercantile system of England. As colonies of England they had the rights of Englishmen. They also had some opportunities of self-government. As compared economically to the average Englishmen of the time, the average American colonist was more often better off. In some markets, such as tobacco, the colonies had great advantages. Although not allowed to trade tobacco with any other country; they were guaranteed a monopoly on the English market. One of the major advantages of British imperialism was the protection supplied by the British army. With the strong soldiers providing defense against natives and other inter colonial disputes and the mighty British navy protecting their commerce on the seas; the colonies benefited from great advantages provided by their oversees “rulers';.
On 17 June 1576 the thirty ton bark Gabriel, accompanied by the smaller bark Michael and a tiny pinnace, set sail from London to seek out a north-west sea passage to the treasures of the Orient. The three small vessels, whose total complement was only thirty four men, were commanded by Martin Frobisher. Although the purpose of the voyage was to find a alternate sea route to the east the two subsequent voyages that quickly followed were a prelude to the establishment of English sovereignty in North America. What were the factors that initiated the voyage? Who were the key players in the enterprise and what was the eventual outcome of these three voyages? This essay will attempt to answer those questions.
“When on December 22, 1775, the British Parliament prohibited trade with the colonies, Congress responded in April of 1776 by opening colonial ports—this was a major step towards severing ties with Britain.” (history.state.gov) The colonies no longer depend solely on British goods, but had set up strong trading agreements with numerous countries. These agreements sustained the colonies. By setting up trade agreements with other countries, the colonies had, in a way, become “independent’ from the necessity for British goods. These British goods had become obsolete to the goods of rival
Mercantilism and capitalism both have to do with money accumulation. Capitalism are businesses controlled by private owners. Since they own the business and the government doesn’t all the profit from the work they’ve done and the trades they’ve made goes to them. Mercantilism are countries that are exporting more goods than their importing. In 17th and 18th century this system was used by British government to restrict how the colonies spent their money. Capitalism is the making of the money in a country, and mercantilism is making money from other
London and the transatlantic slave trade. (n.d.). Retrieved February 25, 2014, from Port Citites: http://www.portcities.org.uk/london/server/show/ConNarrative.103/chapterId/2257/outputFormat/print/London-and-the-transatlantic-slave-trade.html
The Navigation Acts, passed by Parliament throughout the early 1660s, changed the trade system so that tobacco planters of Virginia were no longer able to sell to customers in France, and Dutch ships were prohibited from transporting Virginian goods. This idea that the colonies of a mother country should supply materials and markets for the country itself is called mercantilism. Governor Berkeley avoided calling a new election for the House of Burgesses between 1661 and 1676, so there was no political channel for the Virginian planters.
But this changed when William Pitt became British Prime Minister. He imposed a “free trade policy”, which destroyed Ireland’s new industries, particularly linens, by eliminating independent Irish shipping. A condition of “Free trade” was that Ireland should not trade with any country where trading would clash with the interests of the East India Company; England’s mightiest corporation, who were heavily involved particularly in the lucrative trade with India. This was typical of the British belief in protectionist economics. The role of parliament was to protect the interests of the powerful few who effectively pay rolled the government by their industry and profits against the pligh... ...
The French and Indian War impacted the trans-Atlantic economic relationship between the motherland and her colonies. Before the war colonists were rushing to buy new British manufactured goods resulting from the early stages of the industrial revolution. To pay for these manufactured goods, colonists increased their export of raw materials for sale to Britain. Although the exports were able to pay for a significant portion of cost of British imports, a significant shortfall was covered by British loans. This economic relationship saturated much of pre-French and Indian War colonial America and became normal. After 1763, Britain was in dreadful need for revenue to pay for the French and Indian War. Britain was clever on finding ways to raise revenue from the colonies. From 1650 to the end of the French and Indian War was a period of "salutary neglect." Britain had very little involvement in the lifestyle of the colonies. After the French and Indian War, mercantilism became strictly enforced. Merc...
When comparing and contrasting the Northern and Southern colonies throughout their development, it is vital to fully understand that each colony differed as a result of their reasons for settlement, geographic setting, and economic establishment; however, the colonies were additionally equivalent with regards to their social perceptions and standards of mercantilism.
The colonies became a go-to market for the England’s manufacture goods and a steady supplier of raw materials. England applied mercantilism to its colonies by passing strict laws, such as the Navigation Acts, to limit trade with foreign countries and to tax all goods. The West Indies mainly relied on exporting sugar for profit, and more often than not, the English trade restrictions prevented the colonists of the West Indies from maximizing profit. Thus, they frequently snuck around to trade with the French and Spanish. The Navigation Acts had a significant impact on the self sufficiency of the colonies. The colonists began to build their own ships and also made iron, silk, and lumber for themselves. This somewhat economic autonomy would become crucial as the colonists later defy English restrictions and would be a key in sustaining the early United
Following the Age of Discovery in the 15th century, the race for colonization was one fought on a global scale. Many nations sought to expand into a maritime empire, one that covered all corners of the world and placed them on the top charts of global domination and power. The British were no exception to this; in fact, they were one of the leaders in colonization for many centuries, their exploits reaching from the Atlantic to the Indian Ocean. Australia and North America were two of the targets of the British’s empire expansion; however, the reason, method, and impact of each differed from each other greatly.
Trade was important to the Maritimes. Up to 1846 Britain had provided the British North American colonies with a market for their goods, but then began a policy of free trade. Because there were no tariffs placed on any country the colonies lost a sure market for their goods. Many colonists were concerned that some might consider union with the United States and the British North American colonies was brisk with large amounts of lumber and grain being imported by the U.S. When the Americans ended the Reciprocity Treaty in 1865, many Maritimers became uneasy about the economic future. It became apparent that in order to develop thriving trade; new economic links would have to be developed. 3
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 first extensive code of mercantile regulations was the Acts of Trade and Navigation which established three main rules for colonial trade. First, trade between the colonies and England could only be transported on English or colonial-built ships, operated by English or colonial crews; second that all goods, excluding some perishables, could only pass through English ports; third, certain enumerated goods from the colonies could only be exported to England, including tobacco and sugar. The only positive effect of this act was that English military forces protected the colonies from potential threats from rivaling countries. Similar acts to those of trade and navigation, such as the Staple Act of 1663, the Duty Act of 1673, and the Wool Act of 1699 limited trade of goods such as indigo and wool and forced the payment of duties.... ... middle of paper ...