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Economic Transformations

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John Essick

on 19 November 2014

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Transcript of Economic Transformations

Economic Transformations
Commerce and Consequence
Europeans and Asian Commerce
Silver and Global Commerce
The World Hunt: Fur in Global Commerce

How It began:
Europeans were desperate for slaves to do their work
Portuguese mariners found available slaves for sale of West African coast
Europeans transported them because they were good in the field and were immune to most European disease; whereas, Native Americans were dying.
African sellers needed money themselves; therefore, a deal was made.
(African sellers sought European textiles, cowrie shells, metal goods, gunpowder and fire arms, tobacco and alcohol, and decorative items.)

Commerce in People: The Atlantic Slave Trade
-beavers, rabbits, sable, marten, and deer
-provided warmth
-showed status in the colder regions of the world
-By the 1500s, European population growth and agriculture sharply lowered supply of fur bearing animals
-cooling era (Little Ice Age) made demand for fur greater
-made fur prices go up- strong economic incentives for European traders

Lasting Impacts:
Connected the world in a more globalized way
Developed many new people to make their lives flourish in America
Slowed African growth to prevent overpopulation
Gave women more abilities because of their minority.
Allowed people to exercise power and accumulate wealth.
In Africa, impact varied: Small-scale societies lacked protection.
Gave more diversity in the Americas that is still prevalent today.

Fur Trade in Other Parts of the World
-fur trade expanded the Russian Empire; major source of furs for Western Europe, China, and the Ottoman Empire
-profit from furs was reason why Russia expanded rapidly across Serbia (where fur bearing animals were abundant)
-international sale of furs enriched Russian states as well as private merchants, trappers and hunters
-Silver and fur trade intersected in Russia
-people because dependent on Russian goods
-no competition like in North America accompanied Russian expansion across Serbia
- Russian authorities imposed a tax/tribute, payable in furs, on every able-bodied Serbian male between 18-50 years of age

Impact on Natives
-Indians received copper pots, metal axes, knives, cloth, fire arms and alcohol
-goods helped enhance Indian (especially the Huron)
-helped show authority of chiefs
-Indian role in fur trade helped protect them from enslavement, extermination, or displacement

-damage to environment in North America
-near extinction of beavers
-British took 500,000 deer every year, diminishing their population
-open diseases infected the Indians (influenza, smallpox, etc.)
-Conflicts among Native American societies (guns)
-Population declines caused "mourning wars", designed to capture people who could be mixed with diminished societies
-conflicts between French and British caused Native Americans to take sides

-St. Lawrence Valley, around the Great Lakes, and later down the Mississippi River: French
-Hudson River (New York)- Dutch
-Hudson Bay Region: British
How it worked:
Only a few Europeans directly did trapping and hunting
-waited for Indians to bring skins/fur to coastal settlements and trading posts
-Europeans traded with a variety of trade goods (guns, blankets, metal tools, rum, and brandy)

Background Information:
Began with the voyage of Portuguese mariner Vasco da Gama (1497-1499)
The immediate want was for spices such as cinnamon, nutmeg, mace, cloves, and pepper.
Trade was on the rise as the Black Death was on the out. This opened up room for more trickling trade as more and more nations began to trade openly again.
The Portuguese sought to outgun and outmaneuver their competitors due to European trading goods being cruder than Asian goods of elegance.
The Portuguese, Spanish, French, Dutch, and British all found their way into Asian trade.
Spain established themselves on what was to be the Philippine Islands in an effort to gain leverage in the trade race. This was mainly to challenge the Portuguese grip.
The Dutch and English eventually took control of European-Asian trade around the early seventeenth century.
The Dutch took control of spice-producing islands and forced the inhabitants to sell only to the Dutch or their crops would be destroyed.
The British fell more into the hands of India due to the monopoly the Dutch had created.
All of the European trade did not get rid of the Asian merchants.
(Arab, Indian Chinese, Javanese, Malay, Cham)
-Native Americans grew dependent on European trade goods
-crafts were lost because Native Americans started to manufacture their own goods
-increased demand for fur resulted in depletion of fur bearing species
-introduction to alcohol added more problems
-binge drinking
- violence among young men
- to enforce payment, the took hostages from Serbian societies -death was a possible outcome if the required furs weren't coming

Far more extensive than the spice trade
Spanish America produced 85% of the worlds silver
As silver production increased, it became one the main methods for tax payment
Potosi was the largest silver mine in the world at this time

In Japan, the Tokugawa shoguns used their wealth in silver to subjugate the surrounding feudal states and gain more land
Europeans were mainly middle-men as they were the main source of transport between the silver refineries (Bolivia) and the silver consumers (China and Japan)
The silver trade had the biggest economic effects in China where the cost of manufacture for silk was the cheapest in the world (25 pesos for Chinese silk compared to 200 pesos for Spanish silk)
The Spanish alone imported (or really brought home) 581,071,882 ounces of silver during this 147 year Spanish silver boom

Enslavement of mostly African people and the transportation of them to America
Lasted from 16th to 19th century (1500-1866)
First form of globalization
Connected 3 primary continents: Europe, Africa, Americas
Largely based on plantation and agriculture (Males > Females)

Europe to Western Africa
Journey across Atlantic
Spread Across America
Cycle continues
Where did they come From?
Mainly from societies of West Africa: Mauritania and Angola
Initially were focused on Coastal regions but penetrated the interior
Mostly were Prisoners of war, criminals, debtors, etc.
Majority ended up in Brazil and Caribbean: Labor was more intense
Minority went to North America: Not as intense

Estimated 12.5 million Africans were part of the slave trade
10.7 of them were spread throughout America and the other 1.8 died on the journey over the Atlantic
Up until the 19th century, African people outnumbered the Europeans in America
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