AskEssays.com - Discover essay samples

Mercantilism Helped to Shape the American Nation

4.9 of 5.0 (148 reviews)

Contains
1102 words
Category
History

Mercantilism Helped to Shape the American Nation Page 1
Mercantilism Helped to Shape the American Nation Page 2
Mercantilism Helped to Shape the American Nation Page 3
The above thumbnails are of reduced quality. To view the work in full quality, click download.

Mercantilism Helped to Shape the American Nation


In the Middle Ages, the definition of wealth was based on the amount of productive land. According to this definition, France was the wealthiest and therefore the most powerful of the European nations. During the sixteenth century the definition of wealth began to change. As the ability to conduct profitable foreign trade increased, so did the amount of cash. Thus, the new definition of wealth came to mean the gain of cash or specie. Specie included gold, silver, or bullion. The wealthiest nation became the one with the most cash, and therefore, the most powerful nation. As the redefining of wealth took hold, there was an increased desire and ability to conduct foreign trade on a larger scale as cash became the new medium of exchange in contrast to bartering. Mercantilism began to take hold of the countries of Europe. Mercantilism was characterized by the governmental regulation of industries, trade, and commerce. This was especially true with foreign trade, and was determined more by national aims rather than individual or local interests. This new quest for trade began the Age of Expansion in the early fourteen hundreds. This era ushered in a search for new sources of revenues, and focus turned toward the colonization of the New World. The Portuguese, Spanish, and English directed many efforts of colonization and development toward this new land in an attempt to establish themselves as the economic leaders of the world. As mercantilism began to change, so did the power flux of the European countries. Thus began the shaping of North America as we know it.



The Age of Expansion brought many changes to medieval Europe. During this period, the countries of Europe began to look beyond their borders. In Europe, there was nowhere to grow. This being the case, the only place to turn was west. Portugal came into existence in the early 1400's. It is a small country bordered on one side by the sea, and by Spain on the other. Out of necessity the Portuguese became the masters of the sea. They began to acquire a great knowledge of the sea and advanced in navigation, sailing, and map-making. They also founded an academy of navigation in Lisbon. In the early 1400's, the Portuguese began exploratory voyages. The Portuguese wanted to establish themselves in large-scale international trade. The four things most desired by the people of Europe were spices, sugar, precious metals, and silk. These goods were found primarily in the West Indies. In 1497, a Portuguese explorer named Vasco da Gama became the first European to sail around the Cape of Africa, allowing the Portuguese to establish colonies in East Africa and open new trade routes. By 1513, the Portuguese had established trade with much of the West Indies as far as the Spice Islands.



In the late 1400's, a man by the name of Christopher Columbus had the idea that he could reach the West Indies by a westward route over the Atlantic Ocean. He believed that he could find a westward route to the West Indies that would make trade much more feasible and that would supply desired goods to the European people. Desiring support for an exploratory voyage across the Atlantic Ocean, Columbus went to the most logical place - Portugal. For ten years he sought support for a voyage, but he never received the funding he needed. Since Portugal refused to provide him with the necessary support, he decided to try Spain. In 1492, Queen Isabella of Spain granted him a commission, and he sailed west with three ships. On October 12, 1492, the ships landed on an island which Columbus named San Salvador. He then claimed the land for the country of Spain. Columbus explored the Caribbean Islands and journeyed back to Spain believing he had found the West Indies. The focus of expansion now shifted to the New World. The Spanish began to establish colonies with the hope of turning a profit.



In 1521, Hernando Cortez, another Spanish explorer, conquered the Aztecs in Tenochtitlan (Mexico City). He later conquered the rest of Mexico, including the Mayan people. The Spanish also colonized Florida and claimed all the land west of the Mississippi River. Most of the conquered natives were put into slavery or forced labor. The Spanish operated vast silver mines and sugarcane plantations. Most of Spain's profit came from silver and gold. The native peoples had mined much of it before the arrival of the Spanish, and the Spanish exploited these people for their wealth. There was a massive influx of cash into Europe. Spain began spending money as fast as it came in. The result was the Economic Revolution. Prices all over Europe fell because of rising inflation.



In 1497, the British sent an explorer named John Cabot on a voyage to North America. King Henry VII granted John Cabot a royal Charter. This charter, issued by the government, authorized Cabot to conduct a voyage in search of a Northwest Passage to the West Indies. The charter was only permission - not financial support. The Merchants of Bristol supplied the monetary support. Although Cabot did not find anything, his voyage served as a model for later English settlement of the New World. The North American colonies did not begin as royal colonies - they became royal colonies. The colonies began as individual economic ventures supported by joint-stock companies and given royal charters by the government. Cabot was the first man sent by Britain on a voyage to the New World. He was also the last for a long time.



The British were late starters in the race to establish colonies. They had become a fairly wealthy and powerful nation. As a result of this wealth, the people wanted more material things. These material goods had to come from somewhere, so money was being sent to other countries to purchase the desired things. This was an undesirable situation in the mercantile system. In an attempt to solve this problem, colonies were started to provide goods that could not be produced in the mother country. The British established their first settlement in the New World in 1607. This settlement was called Jamestown. The colony was funded by a group of private investors joined together to form the Virginia Company. The primary objective of this colony was to turn a profit for the investors. The primary source of income for colonists in Virginia was from the production of tobacco. The tobacco trade soon became this colony's major ...

You are currently seeing 50% of this paper.

You're seeing 1102 words of 2203.

Keywords: how would the navigation acts enforced mercantilism, mercantilism and nationalism, mercantilism companies

Similar essays


Aids

AIDS in Africa Acquired Immune Deficiency Syndrome (AIDS) is one of the most deadly viruses in the world. No country in Africa has escaped the virus. Some have been effected more then others though. The spread of AIDS in Africa is because of poor medical treatment and a lack of education on the part of the people. HIV is the virus which...

192 reviews
Download
Achilles

and the Honor Code is a tragic figure who believes strongly in social order, but questions the idea of fighting for glory. When Aias and Odysseus are sent by Agamemnon to plead with ' to fight for the Greeks, denies them, saying "There was no gratitude given for fighting incessantly forever against your enemies. Fate is the same for the man...

54 reviews
Download
Globe theatre

In the cobblestone roadways and roughly built playhouses, an extraordinary development took place in England in the 1500s. At that time, a burst of literary accomplishments arose that was never before seen in the history of the theater. In the all-new idea of theaters, playwrights lifted the Elizabethan Theater to new heights. Men like Shake...

12 reviews
Download
Origins Of Communism

Throughout the history of the modern world, man has sought out the perfect government. An invincible system of order. And in our search for this ideal system, the idea of holding property in common has been a reoccurring thought. From early Christian communities to modern Marxist states, socialism and more specifically, communism has had an importa...

146 reviews
Download
Vincent van Gogh

By: Phil In present time, is probably the most widely known and highly appreciated person of postimpressionism. During his brief lifetime, Vincent's work went almost unknown to this world. His work now hangs in countless museums throughout the world and is considered priceless. His work became an important bridge between the 19th and 20th...

3 reviews
Download
American values from jamestown

Before England could settle the New World, it needed a Middle Class to fund private settlements and a millitary to protect those investments. Although the Spanish had a hundred year head start the English would in turn dominate the New World. This was all set in motion by King Henry VIII's Act of Supremacy. King Henry VIII broke from t...

202 reviews
Download
Who Should Be Blamed For The H

During Hitler's reign as Fuhrer of Nazi Germany from 1933-1945, millions of innocent citizens of Poland, Czechoslovakia, and those of Jewish religion and race were executed. Hitler, although masterminding the plan of the perfect human race did not kill these people, rather ordered their deaths. In the early to mid-1940s death camps such as Auschw...

121 reviews
Download
Hinduism and budism

Hinduism and Buddhism The idea of 'religare' or binding oneself back to one's religion is key to many religions. In Christianity, we bind our selves back to the truth unveiled through scripture, myths, tradition, and the church's teachings. Hinduism, however has a much different interpretation of the idea of binding oneself back. There really i...

131 reviews
Download
Slavery In America

stems well back to when the new world was first discovered and was led by the country to start the African Slave Trade-Portugal. The African Slave Trade was first exploited for plantations in the Caribbean, and eventually reached the southern coasts of America. The African natives were of all ages and sexes. Women usually worked in the homes cooki...

153 reviews
Download
New Jersey Vs. T.L.O.

Decision : Reasonable standard held to be proper standard for determining legality of searches conducted by public school officials. On March 7, 1980, a teacher at Piscataway High School in Middlesex County, N.J., found two girls smoking in the school lavatory, which was a violation of school code. The teacher took them to the P...

130 reviews
Download
Chinese Dynasties

: 1. Shang: Also called Yin, dynasty that was China's earliest historically verifiable state 1766 B.C. to 1122 B.C. A. Reason's for Rise: Unlike the early accounts of history by the Chinese, there is archaeological evidence of the Shang, who built their cities in northern China around the eastern parts of the Yellow River. For this reason they...

171 reviews
Download
Extradition of Nazi War Criminals

The term ?laws of war? refers to the rules governing the actual conduct of armed conflict. This idea that there actually exists rules that govern war is a difficult concept to understand. The simple act of war in and of itself seems to be in violation of an almost universal law prohibiting one human being from killing another. But...

131 reviews
Download
China history

China dynasties Now and Then The past and present of china are very similar. What has happened in past Chinese societies in the last 2,000 years seems to be repeating it. Ch'ing Dynasty, over 2200 years ego, have come back, being repeated by the current regimen. In the Ch'in Dynasty as in Chou, Han and in the present. Confucian...

64 reviews
Download
Queen Victoria

Her Little Majesty: The Life of , written by Carolly Erickson, was a candid tale of the life of Victoria, a British queen whose obstinate and pertinacious behavior helped to maintain England?s impenetrable reign over the rest of the world. Erickson aimed to prove that women, such as Victoria, were entirely competent of governing t...

194 reviews
Download
Atsisiųsti šį darbą