Apush Outline #3-The Revolution - Zander Perry and Phil...

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Zander Perry and Phil Myers AP US History September 17, 2005 THE REVOLUTION (1765-1783) I. British Actions and Rule (1765-1770) A. Mercantilism 1. Define mercantilism and two positives for the colonies- Mercantilism was a theory supported by all of the major nations of Europe from the sixteenth to the eighteenth centuries. Mercantilism equated wealth with power and stated that a country's economic wealth-thus, its power-can be determined by the amount of gold or silver in its treasuries. Countries needed to export more than they imported to accumulate gold and silver. Therefore, colonies proved advantageous to a nation because they could produce materials that would decrease the need for imports while also providing a market for exports. These mercantilist views were reflected in Britain's attitude toward America; Britain expected Americans to produce any products that were needed and to buy British goods. America did benefit from the mercantile system, namely in economics. The British handsomely paid colonists who manufactured ships' parts and ships' stores (the British specifically wanted these types of goods in order to retain naval supremacy). Virginia tobacco planters, though prohibited from shipping their product to anywhere besides England, were given a monopoly in the British market. America tended to profit from Britain's prosperity as well. Indeed, the average American was most likely more successful economically than the average Brit. Furthermore, colonists were given the rights of Englishmen and opportunity for self-government. They were not required to have a professional army or navy, but instead could rely on the strong British forces for protection without cost. 2. Define mercantilism and two negatives for the colonies- Mercantilism was a theory that greatly influenced all major European powers from the sixteenth to eighteenth century. Mercantilism stated that a nation's economic wealth and military power was derived from the amount of gold and silver in its treasuries. In order to acquire more gold and silver, the country needed to export more goods than it imported. Because of this, colonies proved to be very valuable. They would export raw materials to the mother country, thus reducing its need to import foreign goods, and provide a market for exports. All of the European powers used their colonies predominantly to accomplish mercantilist goals. Although some effects that mercantilism had on the colonies were positive, it also had important negative effects. Britain only loosely enforced the principles of mercantilism upon the colonies until 1763. After then, colonists found it more difficult to deal with stricter laws that affected their economic freedom.
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Virginians found these laws especially difficult to deal with. They only grew one cash crop, tobacco. Because they could only sell tobacco to England, they had to submit to the English merchants' prices, which were often low. When the price of tobacco fell even more due to typical agricultural problems such as over planting,
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This note was uploaded on 03/29/2008 for the course HIST 020 taught by Professor Green,charlesaug during the Fall '08 term at Pennsylvania State University, University Park.

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Apush Outline #3-The Revolution - Zander Perry and Phil...

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