Threatened by the presence of the French in North America, British officials knew that at some point they would have to clash with the French over the domination of the continent, and they needed the colonists to support them when that time came.
Another important change was the introduction of double-entry bookkeeping and modern accounting. A number of wars, most notably the Anglo-Dutch Wars and the Franco-Dutch Warscan be linked directly to mercantilist theories.
The Habsburg Holy Roman Emperors had long been interested in mercantilist policies, but the vast and decentralized nature of their empire made implementing such notions difficult.
Colonists began to prosper on its own by trading with non-British colonies in the Caribbean. The British Empire embraced free trade and used its power as the financial centre of the world to promote the same. The Stamp Act crisis was the first of many that would occur over the next decade and a half.
Mercantilism fueled the imperialism of this era, as many nations expended significant effort to conquer new colonies that would be sources of gold as in Mexico or sugar as in the West Indiesas well as becoming exclusive markets.
Inflation and Taxation The British government also demanded trade in gold and silver bullionever seeking a positive balance of trade. The next year, a number of restrictions were imposed on the export of bullion. Mercantilism arose in France in the early 16th century soon after the monarchy had become the dominant force in French politics.
The Netherlands, which had become the financial centre of Europe by being its most efficient trader, had little interest in seeing trade restricted and adopted few mercantilist policies.
Protectionist policies were enacted that limited imports and favored exports.
The evidence for this hypothesis is the lack of inflation in the British economy until the Revolutionary and Napoleonic Wars, when paper money came into vogue. Merchants benefited greatly from the enforced monopolies, bans on foreign competition, and poverty of the workers.
To be sure, laws regulating imperial trade and navigation had been on the books for generations, but American colonists were notorious for evading these regulations.
To achieve this favorable balance of trade, the English passed regulatory laws exclusively benefiting the British economy. The second school, supported by scholars such as Robert B.
This decision would lead to a variety of problems with the colonists. Britain sought to increase its power by obtaining large amount of silver and gold and by establishing favorable trade with its thirteen colonies. Thus the British began their attempts to reform the imperial system.
Colbert also worked to decrease internal barriers to trade, reducing internal tariffs and building an extensive network of roads and canals. They believe Mun and Misselden were not making this mistake in the s, and point to their followers Josiah Child and Charles Davenantwho in wrote, "Gold and Silver are indeed the Measure of Trade, but that the Spring and Original of it, in all nations is the Natural or Artificial Product of the Country; that is to say, what this Land or what this Labour and Industry Produces.
Hard money was the source of prosperity, prestige, and the strength for a nation. Colonial products could not be shipped directly to any foreign nation. Mismanagement of printed currency resulted in periods of inflation. In the English-speaking world its ideas were criticized by Adam Smith with the publication of The Wealth of Nations in and later by David Ricardo with his explanation of comparative advantage.
It sought to derive the maximum material benefit from the colony, for the homeland, with a minimum of imperial investment in the colony itself.
As a result, the British decided to keep a standing army in America. Between andthe English Parliament passed four Navigation Acts meant to ensure the proper mercantilist trade balance.
Britain wanted to accumulate as much hard money as possible, since colonial money was worthless in England. Conversely, in the state exporting bullion, its value would slowly rise. Ekelundportrays mercantilism not as a mistake, but rather as the best possible system for those who developed it.
Certain goods, including tobacco, rice, and furs, could not be shipped to foreign nations except through England or Scotland. In an era before paper moneyan increase in bullion was one of the few ways to increase the money supply.
Isolated feudal estates were being replaced by centralized nation-states as the focus of power. Figuring out how to pay the interest alone absorbed the attention of the King and his ministers. Additionally, Great Britain was in a near-constant state of war. Mercantilism was rejected by Britain and France by the midth century.British imperial regulations with the American colonies were closely tied in with the system of mercantilism.
Mercantilism controls the relations between the leading power and the colonies. Get an answer for 'Discuss the role mercantilism played in imperial control over the colonies during ' and find homework help for other History questions at eNotes.
With respect to its colonies, British mercantilism meant that the government and the merchants became partners with the goal of increasing political power and. An essay or paper on British Imperial Regulations. British imperial regulations with the American colonies were closely tied in with the system of mercantilism.
Mercantilism controls the relations between the leading power and the colonies under its empire. A nation would want to export more than it imports gaining more money to obtain economic.
To be sure, laws regulating imperial trade and navigation had been on the books for generations, but American colonists were notorious for evading these regulations. They were even known to have traded with the French during the recently ended war.
British Mercantilism and the Cost of Empire Where their trade was hindered by British regulations, A final evaluation of the effects of British mercantilism on her American colonies must take into consideration the benefits of living in the British Empire, as well as the costs.Download