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    Mercantilism was an economic policy where the mother country, like Britain, would command the colonial economy by extracting natural resources, raw materials, and markets from colonies while implementing acts like the Navigation Acts to ensure favorable trade balances and accumulation of gold and taxes. This system started to break down due to policies of salutary neglect where Britain did not strictly enforce mercantilist laws, allowing Americans more autonomy to govern themselves and engage in free trade.

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    Mercantilism was an economic policy where the mother country, like Britain, would command the colonial economy by extracting natural resources, raw materials, and markets from colonies while implementing acts like the Navigation Acts to ensure favorable trade balances and accumulation of gold and taxes. This system started to break down due to policies of salutary neglect where Britain did not strictly enforce mercantilist laws, allowing Americans more autonomy to govern themselves and engage in free trade.

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    9 views2 pages

    Study Guide Notes

    Uploaded by

    Dylan
    Mercantilism was an economic policy where the mother country, like Britain, would command the colonial economy by extracting natural resources, raw materials, and markets from colonies while implementing acts like the Navigation Acts to ensure favorable trade balances and accumulation of gold and taxes. This system started to break down due to policies of salutary neglect where Britain did not strictly enforce mercantilist laws, allowing Americans more autonomy to govern themselves and engage in free trade.

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    of 2

    MERCANTILISM

    • MOTHER COUNTRY COMMANDS ECONOMY


    1. FROM COLONIES:
    A. NATURAL RESOURCES/RAW MATERIALS
    B. MARKET PLACE TO SELL MANUFACTERED
    GOODS
    2. GOLD/TAXES
    3. FAVORABLE BALANCE OF TRADE

    • NAVIGATION ACTS
    1. ALL TRADE ON ENGLISH SHIPS
    2. ALL GOODS IMPORTED INTO COLONIES
    HAD TO GO THRU BRITISH PORTS
    3. SPECIFIC ITEMS PRODUCED IN COLONIES
    COULD ONLY BE SOLD IN BRITAIN
    a. Tobacco was the original “specified” good, but over a period of years, the list
    was expanded to include most colonial products.

    • SALUTARY NEGLECT
    1. BRITAIN WILL NOT ENFORCE MERCANTILIST LAWS
    2. AMERICANS LEFT ALONE TO MAKE OWN LAWS

    TRIANGULAR TRADE
    • FREE TRADE (NO TARIFFS)
    • MIDDLE PASSAGE = FREE TRADE
    • AMERICAN COMPANIES
    COMPETE IN TRADE
    1ST GREAT AWAKENING
    • CHRISTIAN RELIGIOUS REVIVAL
    • NEW RELIGIONS: BAPTISTS AND METHODISTS
    (NEW LIGHTS)
    • A CAUSE OF AMERICAN REVOLUTIONARY WAR
    • GAVE COLONISTS CONFIDENCE TO GO AGAINST
    GREAT BRITAIN

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