History 2110 Lecture 2 Notes

History 2110 Lecture 2 Notes - History 2110 Lecture 2 Notes...

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History 2110 Lecture 2 Notes Test 1 New Colonies Virginia and New England 1) Virginia: north came for wealth. Center of trade i) Who came and why did they come? (a) The first settlers came from England looking for land to make a profit. (b) Adventurers looking for quick money. (c) Young men that came from England that had no opportunities in England and looking for new opportunities for a new life. (d) Looking for gold and money. ii) First group who came: (1) Jamestown and the Virginia Company in 1607 (2) Looking for profit and a complete monopoly. (3) 500 of them—never worked a day in their life (business men and their servants). When they got here, they thought this would be very hard to live and survive. They had to build shelter, cut down trees---they didn’t know who to do any of this… As a result, they died. The Indians helped them. They needed the Indians to survive. Only 60 survived. iii) Economic System: Tobacco (1) Became the core economic system. (2) The gold they found was in tobacco—was the key to their economic system. (3) Their society that they created (what they farmed, what they bought, etc.) was based on tobacco. They negotiated what they wanted to buy with tobacco instead of paying money. Only in the US at this point. (4) Extremely profitable (5) For the elite—they want it—become a commodity. (6) Tobacco was the economy for a while, which becomes cheaper because it’s so scarce. iv) Labor System: (1) Indentured Servants: (a) Part of the group that come from England---didn’t have access to land or anything. No opportunity to access land.
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