CHAPTER 13 AGE OF EXPLORATION

Mercantilism As trade grew, money became the medium of trade Gold, silver, precious metals were used as money (no more barter) Mercantilism - With the new colonies, Europeans developed a new trade system - Called Mercantilism

Mercantilism Mercantilism - The new trade from the colonies should benefit the “motherland” - Colonies existed to benefit the “motherland” - Believed that strength rested on the wealth it possessed = to obtain as much gold as possible

Mercantilism Mercantile System - Colonies provided the raw materials & was a market where motherland could sell its product - Colonies were not allowed to produce any products that the mother country made - Colonies were not allowed to trade with any other country - It was a “one-way” trade

Mercantilism [Example] Peru had to buy everything from Spain. Everything is produced had to be sold to Spain. If it wanted to trade with Mexico, Peru had to ship the goods to Spain first and then they were sent to Mexico.

Mercantilism Result Mother country grew wealthier. Mother country became self-sufficient (= did not need to buy from other European countries) Could keep the gold within their country & colonies Wanted to export more than it imported. Goods that were exportable were preferred

Capitalism Acquiring wealth spread to not only nations but to individuals! Mercantilism: to acquire wealth Capitalism: to advance wealth Use the money they made to make more money = investment (ex) Financing trade voyages

Capitalism But financing voyages were risky. In order to limit their risk, people created “companies” to pool their resources. These people shared both gains & losses. Joint-stock companies were invented. People invested in these companies. Companies give them shares according to their capital contribution-dividends.

Capitalism @ English East India Company - Founded in 1600 - Traded with mostly India - Profit averaged 300% per year (1609-13) @ Dutch East India Company - Founded in 1602 - Traded with Java, Sumatra (Indonesia) - Paid dividends of 18% per year

Capitalism @ French Company of New France - Traded with current Canada - Mainly fur - Set up bases for settlements @ Prospectus: details of a proposed business venture @ Underwriting: people sign their names below the prospectus

New Maritime Technologies Better Maps Hartman Astrolabe (1532) Mariner’s Compass Sextant

New Weapons Technology

European trade routes

Treasures from the Americas!

The 3 motives reinforce each other Direct Causes = 3 G’s Political: Become a world power through gaining wealth and land. (GLORY) Economic: Search for new trade routes with direct access to Asian/African luxury goods would enrich individuals and their nations (GOLD) Religious: spread Christianity and weaken Middle Eastern Muslims. (GOD) The 3 motives reinforce each other

explorers

Columbian Exchange or the transfer of goods involved 3 continents, Americas, Europe and Africa * Squash * Avocado * Peppers * Sweet Potatoes * Turkey * Pumpkin * Tobacco * Quinine * Cocoa * Pineapple * Cassava * POTATO * Peanut * Tomato * Vanilla * MAIZE * Syphilis * Olive * Coffee Beans * Banana * Rice * Onion * Turnip * Honeybee * Barley * Grape * Peach * Sugar Cane * Oats * Citrus Fruits * Pear * Wheat * HORSE * Cattle * Sheep * Pig * Smallpox * Flu * Typhus * Measles * Malaria * Diptheria * Whooping Cough

European Colonization Once the New World is discovered, the Big 4 four European countries begin competing for control of North America and the world…. Spain England France Portugal This power struggle ultimately leads to several wars.

Columbus’ Four Voyages

Spanish empire by the 1600’s consisted of the part of North America Central America Caribbean Islands Much of South America.

Cycle of Conquest & Colonization Explorers Conquistadores Missionaries European Colonial Empire Permanent Settlers

The Colonial Class System Peninsulares Spanish ancestory Creoles Spanish and Black mixture. Mestizos Spanish and Indian mixture Mulattos White American and Black mixture Black Slaves Native Indians

Father Bartolomé de Las Casas Believed Native Americans had been treated harshly by the Spanish. Indians could be educated and converted to Christianized. Believed Indian culture was advanced as European but in different ways. New Laws --> 1542

Explorers Sailing For Portugal Prince Henry the Navigator - Portugal - Funded Exploration down coast of Africa - 1419-1460 Dias - Portugal - Rounded the Cape of Good Hope - 1488 da Gama - Portugal - Opened trade with India - Placed Portugal in position to dominate trade with India - 1498 Cabral - Portugal - Claimed present day Brazil for Portugal - 1500

The Treaty of Tordesillas, 1434 & The Pope’s Line of Demarcation, 1493