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The rise of mercantilism

The rise of mercantilism. And the Atlantic Slave Trade. Columbian Exchange. Began with Columbus He brought back plants and animals from the Americas When he returned from Europe, he brought with him 1200 settlers and plants and animals from Europe. The effects.

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The rise of mercantilism

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  1. The rise of mercantilism And the Atlantic Slave Trade

  2. Columbian Exchange • Began with Columbus • He brought back plants and animals from the Americas • When he returned from Europe, he brought with him 1200 settlers and plants and animals from Europe

  3. The effects • Increased availability of food due to the Columbian Exchange contributed to population growth by the 1700s. • Migration of populations • European settlers to the Americas • Atlantic slave trade brought millions of Africans to the Americas

  4. Triangular Trade • Series of Atlantic trade routes that connect Europe, Africa and the Americas • Atlantic slave trade formed one part of this trade

  5. How it worked • First leg- merchant ships brought European goods to Africa • Goods were traded for slaves who were then transported to the Americas • What was this leg called? • Middle Passage • In the Americas, slaves were traded for sugar, etc…

  6. Beginnings of african slave trade • Who were the first Europeans to explore Africa? • Portuguese began exporting slaves in the 1440s • Elmina Castle- the mine was the first European trading post to deal in slaves • By 1619, a million slaves had been brought to the Americas

  7. Floating Coffins • Europeans made at least 54,000 trips containing human cargo • 10-12 million slaves were sent to the Americas • Hundreds of slaves were carried on voyages which lasted three weeks to three months

  8. Dangers at sea • Mutinies (revolts) • Disease- dysentery, small pox • Suicide • Up to half of the captives died on the journey (estimated 2 million)

  9. Olaudah equiano • Autobiography-TheInteresting Narrative of the Life of Olaudah Equiano • Writes about his experiences and being brought to the Americas from Africa • Research debates if he was born in South Carolina • Does this effect the impact?

  10. Who benefits? • Merchants- profits outweighed risk of losing cargo at sea • Industry- shipbuilding, fishing, tobacco, processing sugar • Port Cities- Bristol, England, Salem, Mass, and Newport Rhode Island

  11. Impact- African slaves 1701-1810

  12. Commercial revolution • The triangular trade had far reaching consequences • In 1500s prices began to rise, and there was more money in circulation • What is a rise in prices followed by an increase in the amount of available money called?

  13. Inflation

  14. capitalism • Economic system in which most businesses are privately owned • Brought on by expanded trade, increased money supply, and growth of colonies • Entrepreneurs those who took on financial risks of business. Managed materials, transport costs of production • Entrepreneurs and capitalists made up new business class devoted to profits

  15. New Business methods Banks increased in importance- wealthy merchants could lend money with interest Joint stock companies allowed people to pool money needed for overseas ventures Those who invested would share in any profit, but if the company lost money the people would only lose their initial investment. Seal of London Virginia Company

  16. mercantilism Policy by which a nation sought to export more than it imported in order to build its supply of gold and silver Believed the overseas colonies existed for the benefit of the parent country Colonies provided resources and raw materials to the parent colony Served as a market for manufactured goods

  17. Mercantilism in colonies Strict laws regulated trade with their colonies Colonists could not set up their own industries to manufacture goods They were forbidden to buy goods from a foreign country Only ships from parent country or the colonies themselves could be used to send goods in or out of country.

  18. National economies National governments had control over their economies Imposed national currencies and standard weights and measures Imposed tariffs- taxes on imported goods- to protect local industries from foreign competition

  19. Increase in production Growing demand meant need for more goods Traditional guild system ran on a smaller production scale Solution- “putting-out” or “cottage industry” system Merchants distributed raw material to peasants Peasants then manufacture good ie sew textiles

  20. Impact on european society New business class got rich Price revolution hurt nobles whose wealth was in the land Merchants and skilled workers thrived Hired laborers and unskilled workers lived in poverty

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