Economic Issues of the Colonies. 1607-1650’s England paid little attention to colonists “Salutary Neglect” - let the colonies develop without over regulation.

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Presentation transcript:

Economic Issues of the Colonies

’s England paid little attention to colonists “Salutary Neglect” - let the colonies develop without over regulation Left alone in most ways This situation was mutually beneficial

Colonies increased England’s Wealth Two Reasons for prosperity: 1 Colonies were suppliers of raw materials Such as tobacco, rice and lumber 2 Colonies were avid buyers of English goods This new type of economic activity was called mercantilism

Mercantilism System Colonies send raw materials to England England turns out finished products Products sold back to colonies and others Wood Products Huge Profits for England Colonists not encouraged to manufacture - except for shipbuilding

Mercantilism A parent nation needs a favorable balance of trade Exports > Imports England would not have to purchase raw materials from someone else Their goal of self-sufficiency was attained

Problems of Mercantilism Colonists couldn’t sell raw materials to other nations They weren’t allowed to, by England Colonists not allowed to buy goods from other nations Colonists disobeyed these orders many times - This required England to have better supervision - Hard to do 3,000 miles away

Navigation Acts of 1660’s These Acts were put into place to try and force the colonies to abide by England’s rule They were weakly enforced for over 100 years

Navigation Acts of 1660’s All trade in colonies restricted to British Ships Certain products could only be sold to England - tobacco or cotton Duties (taxes) imposed on trade between colonies Trade with other countries must first go through England

Navigation Acts (Cont’d) New England was not following Acts 1696: England tightens up control: Sworn to uphold Navigation Acts More Customs officials - decrease smuggling Smugglers tried by England