The Atlantic Economy and the Slave Trade

1. The Atlantic Economy and the Slave Trade

2. Objective • To understand how the Atlantic Economy functioned • To understand how European diplomacy affected the rest of the world • To understand the slave trade

3. Mercantilism • Main economic system of the eighteenth century • A nation’s wealth based on gold and silver • Countries gained colonies for natural resources • Colonies can only trade with mother country

4. Spread of Colonial Empires • Spain and Portugal in Latin America • Mexico, Peru, Brazil • Britain in North America • Thirteen Colonies • France in North America • Quebec, Louisiana

5. Spread of Colonial Empires • War in Europe led to war in the colonies • Global conflicts between Britain and France • French and Indian War results in Britain controlling North America • Expenses from the war leads to American Revolution

6. Colonial Economy • Mercantilism • Colonies furnish raw materials to home country • Home country sells back manufactured goods • Home country has monopoly on colonial trade • Imports from other countries highly expensive • Encouraged smuggling

7. Atlantic Economy

8. Atlantic Economy

9. Slave Trade • First introduced to the Americas by Spanish and Portuguese • Slavery introduced to English colonies in 1619 • Slaves captured from Africa and traveled in Middle Passage to new world to be sold

10. Slavery • Slaves worked on plantations • Sugar, tobacco, indigo • Slave societies highly stratified • Slaves had few rights, if any • Europeans believed they did African slaves a “favor”

11. Slave Trade

12. Sugar Plantation in the Caribbean

13. Conclusion • Mercantilism the major economic system • Based on reserves of gold and silver • Colonies need to furnish raw materials to home country • Home country provided manufactured goods • Slavery required to maintain mercantlist system