01:512:103 Lecture Notes - Lecture 2: Mercantilism, Cape Breton Island, Navigation Acts
8 Nov 2016
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Slavery contributed to economic growth and the development of europe: slave colonies accounted for 95% of exports to great britain, slavery helped the british economy, this also caused growth in english ports. (ex. Where govt. intervenes in economy for increasing natl. wealth: first started in france under louis xiv, parliament established a natl. monetary sys. After this there is a public outrage: this forced walpole to agree to war of caribbean conquest= war of. Indies, the english east india comp. , the hudson bay comp. , and royal. Ship supplies: majority of items were reexported to other places, england placed limitations on other products that could compete with theirs. Wool act of 1699, hat act of 1732, iron act of 1750. English forbade production: forbade tariffs on english imports to protect colonial industries, disallowed banking and local towns having their own coins, walpole"s policy was characterized as one of salutary neglect , goods to mother country rose 165%.
