Unit 1 Notes 2

Most powerful nations worked to gather as much wealth as possible The belief was that money = power Since England did not have access to gold in the New World, they focused on trade

A favorable balance of trade (more imports then exports) would allow the empire to grow rich England could use raw materials from the New World to produce goods They could then sell those goods back to the colonists for a profit

In order to assure a favorable balance of trade with the colonies England passed laws to regulate the colonial economy The Navigation Acts were passed restricting trade of certain goods to other countries Taxes and duties were levied on colonial trade with countries other then England

Southern Colonies Relied on agriculture for income Crops like tobacco and rice for income Due to the difficult work associated with these crops, planters brought in slaves Northern Colonies Participated in global trade with Europe in Africa

Most of the colonies were Royal Colonies by the 1700s Royal Governors were appointed by the King Legislatures served under them and made most laws In time, the colonial government would effectively administrate themselves, with little help from England

Since things were going well between the colonies, by the mid 1700s the British began to neglect their trading laws giving the colonies more freedom proved to be in their economic interests Policy became known as salutary neglect