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Transcript of Britain's Mercantilism
Britain's Mercantilism began in 1650.
The British government realized to build economic strength you need to export more then you import.
Britain used raw goods and then manufactured them into finished goods and then sold them at a high price.
Britain imported goods form the 13 colonies such as fur, sugar cane, timber and tobacco. Then turned the raw goods into finished goods(eg: fur hats) and export them back to the 13 colonies. Imports and Exports 13 Colonies 1650 british government perused a policy of mercantilism.
English passed laws benefiting british economy.
British navigation acts were passed in1673.
The navigation acts was often ignored by colonists through smuggling and piracy.
Britain eventually change trade laws because they came to the realization that they needed the 13 colonies as allies. Chronological Order of Events Spread small pox and disease to the native americans.
Many natives died through warfare with the colonists.
The indigenous peoples traded with the colonists and received new good such as blankets and muskets. Impact on Indigenous Peoples Instead of going straight to the 13 colonies English ships would stop in Africa to pick up slaves.
The ships would drop off the slaves for labor and pick up the unfinished goods.
Then the English would refurbish the goods into finished goods and load up their ships and head back to Africa.
This is called triangular trade. Britain's Mercantilism The Napoleonic wars and Revolutionary war also signaled the end of Britain's mercantilism because world politics were shifting so much.
People started to realize mercantilism isn't a fair way to trade because one county benefits way more then the other.
Britain's mercantilism didn't officially end until Adam Smith published the wealth of nations act in 1776.
The End of Britain's Mercantilism