2. Mercantilism – economic system , in which a nation attempts to gain wealth and establish a: Favorable Balance of Trade – the nation selling more goods (exports) than they buy (imports) Role of colonies in Mercantilism - provide raw materials to the home country - buy manufactured goods from the home country The American colonies were supposed to be profitable for England Trade in the Colonies
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4. New England economy - shipping trade, rum, fishing, whaling, and: Timber - influenced by environment & geography - Large nearby wilderness - Fall Line: a drop in elevation = waterfalls = sawmills - logging , barrel-making & ship building being a large part of the economy
5. Shipping Trade Triangular Trade – trade among the areas around the Atlantic Bills of Exchange – beginnings of a colonial currency paper representing hard currency
6. Salutary Neglect - English allowed the colonists, through the colonial assemblies, govern themselves as long as they remained loyal politically and profitable economically. Colonial Governments Royal Governors – were paid by the colonial assemblies Colonial Assemblies – governed the colonies from the 1690’s until the 1760’s with little real interference from the British
7. Population Growth Immigration - Scots-Irish - German (Pennsylvania Dutch) Very high birthrates Longer Life expectancy - Healthier Diet Medical advances - Smallpox vaccination - Cotton Mather
8. Slavery Middle Passage - transportation of slaves from West Africa to the Americas Slave Population Growth 1690 = 13,000 , 1750 = 200,000 Stono Rebellion (1739) - South Carolina slave rebellion led to stricter laws New York Slave ‘Conspiracy’ of 1741 - exaggerated charges of conspiracy lead to the deaths of several black slaves