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Explore how European beliefs in mercantilism shaped the American colonies, the effects of mercantilist policies on the colonies, and the views of influential figures like Adam Smith and Benjamin Franklin.
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Aim #11: How did European beliefs in mercantilism shape the American colonies? Do now! If a law is only sporadically enforced, should it remain a law? Think of some examples of times when you believe that laws are only enforced some of the time. What is the result?
(I) Background to Mercantilism a. Theory that suggested that nations could become rich, powerful and self-sufficient if they acquired large colonial empires. b. Weakened by Civil War, England lost control of colonial trade as Dutch and French traders took advantage. (should England be run by an absolute monarch or by a Parliament subject to constitutional restrictions?) c. As a result of their internal problems, colonies were allowed to develop their own political institutions and substantial degree of free enterprise (SALUTARY NEGLECT) d. American colonies at this time varied and it took generations for a “unified” tradition to emerge
“To prohibit a great people, however, from making all that they can of every part of their own produce, or from employing their stock and industry in the way that they judge most advantageous to themselves, is a manifest violation of the most sacred rights of mankind.” Source: Adam Smith (1723-1790) the Scottish “Father of Modern Economics” Question: Was Adam Smith a proponent of mercantilism? Why or why not?
(II) Mercantilism and the Colonies • The Navigation Acts: a series of mercantilist laws passed in the 1600s for the American colonies b. 3 rules for colonial trade: • Goods shipped to or from the colonies could only be carried on English ships or colonial-built ships (with a majority of the crew being English) 2. Goods shipped to the colonies had to pass through English ports 3. Certain goods (tobacco) could only be exported from the colonies to Britain c. response: colonists wanted options to use cheaper non-English shipping so laws were most ignored or at best, partially obeyed
(III) Effects of Mercantilism on the colonies • Positive effects of the Navigation Acts? • Shipbuilding industry of New England prospered 2. The colonies and their economic activities were protected by the British military 3. Tobacco industry of the Chesapeake enjoyed a monopoly in England b. Negative effects? • Greatly slowed industrial growth of the colonies 2. Agricultural products were forced to abide restrictions in England (i.e. tobacco farmers were forced to sell their goods at low prices to the English market) 3. Colonists forced to pay inflated prices for good manufactured in England Overall effect…Colonies felt resentment; many continued to smuggle goods and traded good illegally
The American View of Mercantilism (in Benjamin Franklin’s view…) “We have old mother that peevish is grown; She snubs us like children that scarce walk alone; She forgets we’re grownup and have sense of our own” Question: What is Benjamin Franklin message in this poem??? Yes, students…what was I saying in writing this?
(IV) 1670S: Time of Crisis in the American colonies • There were conflict between and among the English settlers and • Indian tribes 2. The French 3. The Dutch 4. The Spanish
