HST 213 TEST 1 STUDY GUIDE

HST 213 TEST 1 STUDY GUIDE - Mercantlism- advocates trade...

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Mercantlism- advocates trade restrictions so that there is: 1. restriction of imports 2. expansion of exports 3. at worst, an even balance of imports and exports Also, mercantilists see it important to export RAW and import FINISHED. 3 M’s: 1. Mercantlism 2. Manufacturing 3. Money Massachusetts was the first to realize DEMOCRACY MEANS NOTHINGS WITHOUT INDUSTRY AND ECONOMIC STRENGTH. This also made them first to piss off the King. Massachusetts Bay Colony- 1640: Goals: 1. Forge constitutional republic 2. Commitment to economic and industrial development Policies of the General Court (Government Body of Mass. Colonists): 1. Sizable subsidies for LOCAL manufacture of textiles. 2. Outfit a fleet (measures were passed to stimulate production of hemp used for sails) 3. John Winthrop Jr. organized iron manufacturing in Massachusetts. 4. The Saugus Iron Works The Saugus Iron Works: By 1646, The Saugus Iron Works had the MOST ADVANCED IRON MAKING FACILITY IN THE WORLD. - Birthplace of American Industrial Revolution - Operated from 1646-1675 (called Hammersmith at the time) - Located near Boston, 10 miles from Logan airport - Funded by Winthrop Saugus Works was an INTEGRATED IRON MILL containing: 1. Blast furnace
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2. Forge 3. Rolling and slitting mill FIRST SUCCESSFUL PLANT FOR INTEGRATED PRODUCTION OF CAST AND WROUGHT IRON IN THE NEW WORLD. - Iron is extremely valuable. Often settlers would burn down thier cabins to salvage iron nails to be reused on their journey to the west. - A whole generation of iron workers came from Saugus and migrated all around the colonies. Early American political leadership is VERY INVOLVED in industry and economics: 1. To promote the general welfare. 2. Because they came to realize NO POLITICAL INDEPENDENCE CAME WITHOUT ECONOMIC INDEPENDENCE. 3. Thus, PRODUCTION ECONOMY IS WHAT GIVES LEADERS POWER. WHY DID THEY DUMP THE TEA? Colonial Drive for Economic Independence Basically, British mercantlism+ American self-government= Revolution British want to use America as a storehouse for resources. “Sit by, little sheep, until we sheer you.” British try to discourage the colonists economically with a seriers of acts in an effort to keep colonies from breaking off into a self-sufficient entity. BRITAIN ATTEMPTS TO (BRITAIN’S GOALS): 1. Regulate colonial commercial a. Navigation Acts (1660-1696) i. Constricted the capacity of the colonies to export and import b. Molasses Act (1773) 2. Destroy American manufacturing a. Wool Act (1699) i. Banned production of wool in colonies b. Hat Act (1732) i. Banned production of hats in colonies c. Iron Act (1750) i. Banned production of finished iron products in colonies This pisses off America because they put a lot into developing these products. Anyway,
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so the British get in a war with the French, and it is really expensive. Since a lot of British people have seen Super Sweet 16 on VH1, they know the Americans will probably pay for the war. Anyway, so the British institute the GREENVILLE TAX
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HST 213 TEST 1 STUDY GUIDE - Mercantlism- advocates trade...

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