Econmics 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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Another example of the British trying to exert control over America was with the Molasses Act of 1733. The upper-class's way of handling this was to make reforms and go about changing this in a

civilized manner. credit rating, Hamilton wanted to induce a Bank of the United States under the "implied powers" clause. The act was vastly ignored by the Americans. During 1790 to 1795, mercantilism helped spark the economy of America under Hamiltons authority.

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. The troops were not there to protect the colonies, but to enforce British rule. The Molasses and Sugar Acts were to make America pay for its so called troops and help British merchants. Hamilton wanted all foreign debts, amounting to 11.

This law made it illegal to purchase any paper, newspapers, customs documents, various licenses, college diplomas, and numerous legal forms for recovering debts, buying land, and making wills without a stamp bought buy the British. They protested it with a vengeance

claiming, "Taxation without representation is slavery. Dutch traders had the commercial vessel market well cornered in the 1640's. Everyone from small farmers to merchants were effected. Everyone in the colonies could agree that the Stamp Act was a selfish law made by the British to control the media and acquire revenues at the expense of the colonies. This would establish a very high credit rating with other nations and help the government create political power.

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