Econics 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 Americans were not going to obey a law passed by the English, when the English had no way of enforcing it. The British government was regarding the colonies as a source of revenue. During 1790 to 1795, mercantilism helped spark the economy of America under Hamiltons authority. America was using the idea of mercantilism to run the country and build political power. The upper-class's way of handling this was to make reforms and go about changing this in a

civilized manner.

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

provided for a naval officer in all colonial ports to insure the upholding of the mercantile law. This Act made the English colonies frustrated for they could get a higher price for these items outside of the British empire.

Founded in 1791, the Bank of the United States had the duties of financing the federal government during war, regulating credit, and producing sound currency. The colonies also noticed how the money was being spent and objected to it. " The working-class's approach to this problem is to riot, gather great mobs and burn things, and beat up the tax collectors.

The Staple Act of 1663 was an offshoot of the Navigation Acts. The English colonies publicly defied the act and kept on trading with the Dutch.

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. The act was vastly ignored by the Americans.

Approximate Word count = 1635
Approximate Pages = 7 (250 words per page double spaced)

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