Mercantilism & Navigation Acts

Summary

In this online lesson, Mr. Hoven discusses the economic philosophy of mercantilism and the Navigation Acts following the French and Indian War. Britain, burdened with war debt, adopted mercantilism to bolster its economy by exploiting colonies for raw materials and selling manufactured goods back to them, thus aiming to export more than it imports. The Navigation Acts enforced this system, mandating that all colonial trade be conducted on British ships and only with Britain. These policies led to increased taxes and a lack of representation for the colonies, sowing the seeds for resentment and eventually, the Revolutionary War.

Takeaways

• 📚 The lesson discusses mercantilism and the Navigation Acts in the context of British colonial policy post-French and Indian War.
• 💵 Mercantilism was an economic philosophy adopted by Britain to manage debt accumulated from the French and Indian War.
• 🚢 The Navigation Acts were established to enforce mercantilist policies, restricting colonial trade to British ships and markets.
• 🌐 Colonies were seen as sources of raw materials and markets for British manufactured goods under mercantilism.
• 🏛️ The British monarchy and government profited from mercantilism, while colonies bore the burden of taxes and limited representation.
• 🛃 The Navigation Acts dictated that colonies could only import goods from Britain and had to use British ships for trade.
• 💼 The Acts also mandated that colonies produce goods that Britain needed for its manufacturing industries.
• 💸 Colonies faced high costs due to taxes imposed on British manufactured goods, which were essential for their own use.
• 🤔 The imbalance of mercantilist policies and Navigation Acts led to growing resentment among the colonies, contributing to the tensions leading to the Revolutionary War.
• 🏴󠁧󠁢󠁥󠁮󠁧󠁿 The lesson highlights the historical significance of these economic and trade policies in shaping the relationship between Britain and its American colonies.

Q & A

What was the main reason for the British to implement mercantilism after the French and Indian War?

The British had to pay off the significant debt accumulated from the French and Indian War, and they developed mercantilism as a way to generate wealth.

What is the difference between import and export as described in the script?

Import refers to bringing goods into a country, while export is the process of sending goods from one country to another market.

How does mercantilism benefit the mother country according to the script?

Mercantilism benefits the mother country by making them wealthy through exporting more finished goods than they import in raw materials, thus creating a trade surplus.

What were the colonies' roles under the mercantilism system?

Colonies served as sources of raw materials and natural resources for the mother country, and as markets for the manufactured goods produced by the mother country.

What were the Navigation Acts, and how did they enforce mercantilism?

The Navigation Acts were laws established by the British to enforce mercantilism by ensuring that colonies could only use British ships for trade and could only import goods from Britain.

Why did the Navigation Acts cause resentment among the colonies?

The Navigation Acts caused resentment because they imposed heavy taxes on goods, restricted trade options, and denied the colonies representation in the government.

What was the King's role in the mercantilism system as depicted in the script?

The King was expected to become very wealthy due to the profits generated from the mercantilism system, which increased the wealth of the monarchy and Britain.

How did the mercantilism and Navigation Acts impact the colonies financially?

The colonies were financially burdened as they had to send their raw materials to Britain for little to no profit and then pay high taxes and inflated prices for the finished goods sent back.

What were the long-term consequences of the mercantilism and Navigation Acts for the colonies?

The long-term consequences included increased debt, a sense of injustice due to lack of representation, and growing resentment towards Britain, which eventually contributed to the Revolutionary War.

What was the British strategy for manufacturing goods under mercantilism?

Britain's strategy was to import raw materials from the colonies, manufacture goods domestically, and then export these finished products to other countries to maximize profits.

How did the mercantilism system and Navigation Acts affect the relationship between Britain and its colonies?

The mercantilism system and Navigation Acts strained the relationship by imposing economic controls and taxation without representation, leading to growing discontent and a threat to the colonies' rights.