1. Economics of English Colonial System Trade, Agriculture, labor 1607-1763

2. Economic changes effect trade  Joint Stock companies (see p27)  New means of financing trade adopted by merchants during Renaissance as a way to reduce risk of overseas trade with Far East.  Pooled investments so that no single person would be ruined by the loss of a cargo or ships—disperse risk  Mercantilism (see pp 27, 92)  Political economic system where national wealth was increased by gaining self- sufficiency and a favorable balance of trade with other advanced nations.  Acquire colonies to gain raw materials/precious metals; sell surplus manufacturing to colonies and raise exports while reducing imports to/from competing nations (France, Spain)

3. Mercantilism overview flowchart

4. Labor incentives and rights in the English Colonies  Headright System and Indentured servitude (p 74)  Colonists who could afford the journey rec’d. 50 acres for themselves and additional 50 acres for each person who’s passage they could pay for—indentured servants  Indenture contract 4-7 years, varying conditions & outcomes  Origin and development of Chattel Slavery in Colonies(p 77)  Because of shortage of indentured servants and free labor in southern colonies, new source needed  Bacon’s Rebellion (see p 74)  Slavery didn’t work with Native Americans—Africans had advantages as laborers esp. in Southern Cash crop economy.

5. Origin and development of Chattel Slavery in Colonies(pp 59, 60, 76-77)  Middle passage (p 59)Brutal leg of Triangle trade on which slaves were purchased and transported to West Indies and 13 Colonies—high mortality rate on slave ships  Slave codes (p 77) laws passed in several colonies that defined Africans as Chattel (property) without legal rights of persons— colonies with most slaves had most severe slave codes  See map p 76 answer Interpreting Charts Question

6. “Triangular Trade” and British Mercantilism Navigation Acts, 1650-1696 (p 92) A series of trade regulations passed by parliament to control what and with whom the colonies could trade their raw materials for manufactured goods. Colonies forbidden from producing manufactured goods—had to import them from G.B Triangular Trade (p 93) Term describing the triangular shaped networks in which British colonists traded goods with one another and the Mother Country. Middle passage (p 59, 94) One leg of the triangular trade in which alcohol certain raw materials were exchanged for slaves on the west coast of Africa—Conditions on slave ships brutal, many did not survive journey.