Economic's in Colonial America

During the 1500's to 1800's, the strength and stature of a country depended upon its political power, which can be traced to how self-sufficient it was. Striving to be self-sufficient was what nations sought after; dependency was not a characteristic of a powerful nation. Raw materials were the most required item to strengthen the central government, and deter interactions, such as trade with other nations. The first country to introduce mercantilism

in America was Spain. The Spanish American colonies were not allowed to trade directly with Europe. Instead they had to funnel all of the sugar and tobacco, two common commodities of the new land, through Spain. When this was done, heavy custom duties were imposed and the

central government gained. Spanish American colonies were forced into providing precious metals and raw materials to the mother country. These colonies existed only to enrich Spain, even if the economic policies adversely effected the well-being of the colonies. This grip caused the central economy of Spain to grow at the expense of the colonies. During the duration of this period, the 1500's through the 1700's, mercantilism had a major effect on the economies in the new world. English speaking colonies were eff

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The system of banking he purposed was very similar to that of Englands. The Navigation Act worked as a disadvantage to the colonies, but helped the central economy and government of the British by excluding such raw materials from trade to other countries. The parliament wanted the colonist to pay for some imperial expenses. This Act also

provided for a naval officer in all colonial ports to insure the upholding of the mercantile law. Dutch traders had the commercial vessel market well cornered in the 1640's.

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. The Act served no other purpose other than the enrichment of the British people and strengthening of the central government. The British would benefit from this act by imposing custom duties on goods, which cost would be passed to the American consumer. America existed for the sole purpose of strengthening the central government of England.

The failure of this act was caused by inadequate machinery to enforce the law. Hamilton also had the

idea of making the bank privately owned, so it would run proficiently. All of the acts of the Commonwealth Parliament, including the Navigation Act of 1651, were considered illegal under his rule (Kurland). The Molasses and Sugar Acts were to make America pay for its so called troops and help British merchants. Bribing customs officials into taking 1 and a half pence per gallon not to notice the cargo being unloaded was how the Molasses Act failed. It stated that all European goods bound for the American colonies must first land at an English port and then be

reshipped to America in English vessels (Kurland).

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