lesson 7: the colonial economy...lesson 7: the colonial economy unit 4: colonial life today you’re...

Lesson 7: The Colonial Economy

Unit 4: Colonial Life

Today you’re going to explore the economics of the colonies.

1

5-U2.1.1: Describe significant developments in the southern colonies, including development of one-crop economies.

5-U2.3.4.: Describe the development of the emerging labor force in the colonies, including cash crop farming, slavery, indentured servants.

5-U2.1.2: Describe significant developments in the New England colonies, such as agricultural and non-agricultural.

5-U2.1.3: Describe significant developments in the Middle Colonies, like the breadbasket economy.

2

4

How did the natural resources of the three colonial regions differ?

http://www.history.org/kids/visitUs/colonialPeople/apprentice.cfm

Http://www.history.org/Almanack/life/trades/tradehdr.cfm

5

http://www.history.org/kids/visitUs/colonialPeople/apprentice.cfm

http://www.history.org/Almanack/life/trades/tradehdr.cfm

Britain

Raw Materials

Manufactured Goods

The

Colonies

Navigation Acts

6

which are used to produce

GOODS and

SERVICES

Every society has RESOURCES.

NATURAL

RESOURCES

CAPITAL

RESOURCESHUMAN

RESOURCES

7

Economic

Activity

Natural

Resources

Human

Resources

Capital

Resources

Fishing in New

England

Wheat Farming

in the Middle

Colonies

Tobacco

Growing on a

Plantation in

Virginia

8

Economic

Activity

Natural

Resources

Human

Resources

Capital

Resources

Fishing in New

England

•fish

•water

•bait

•fisherman

•shipbuilders

•barrel makers

•boats

•nets

•barrels

Wheat Farming

in the Middle

Colonies

•good soil

•water

•seeds

•farmers

•millers

•blacksmith

•plows

•wagons

•sacks

•farm tools

Tobacco

Growing on a

Plantation in

Virginia

•good soil

•water

•seeds

•lots of land

•warm climate

•enslaved people

•plantation owners

•indentured

servants

•drying barns

•wagons

•farm tools

•tobacco cutters

9

LIMITEDRESOURCES

UNLIMITEDWANTS

SCARCITY

SPECIALIZATION

10

Examples of

Specialization

Fishing in New England

Wheat Farming in the

Middle Colonies

Tobacco Growing on a

Plantation in Virginia 11

LIMITEDRESOURCES

UNLIMITEDWANTS

SCARCITY

SPECIALIZATION

TRADE 12

Mystery Source

Just Imported from LONDONAnd to be sold by

JOHN GREENHOW, at his Store near the Church inWilliamsburg

for ready money only

13

white calico cloth

linens

blue cotton

handkerchiefs, blue

handkerchiefs, red

blankets of all sorts and sizes

wool cloaks

ready made shirts

fine men’s stockings, blue

fashionable men’s and boy’s hats

low priced hats

fine night caps

feathers for ladies hats

blue feathers

latest fashion aprons, plain

steel scissors

laces of all Kinds

shirt and waist coat buttons

a fancy assortment of paper boxes

baskets

smoothing irons

fine needles and pins

needle cases

silver thimbles

sugar, refined

cinnamon, cloves, and nutmegs

brown sugar candy

white sugar candy

fine chocolate

licorice

horn combs all sorts of wedding fans

candlesticks

brass desk furniture

candles

toys of various sorts

whistles for children

a variety of children's books

various other books and stationary

slates and pencils

paper of all sorts and sizes

playing cards

pencilssealing wax

brooms

most sorts of nails

files of all sorts and sizes

chisels

wire

pewter plates and dishesmugs

iron kettles

polishing powders

crates of earthenware

large, noble and rich Chinese bowls

coffee

oats

coarse salt in bags

sponges

glass bottles

bottle corks

soap

tools of almost every occupation

garden tools

window glass of all sizes

looking glasses of all sizes

14

Colonial Exports

Ne

w E

ng

lan

d C

olo

nie

sNew Hampshire

Cattle, lumber, fish, and fur

Rhode Island

Cattle, corn, lumber, and ships

Massachusetts

Fish, whale products, fur, timber products,

metals and metal products, raw wool, and ships

ConnecticutFlour, dried meat, fish, rum

15

Colonial Exports

Mid

dle

C

olo

nie

sNew York

Fur, timber, foodstuff, cattle, horses, beer, fine

flour, flax, and iron bars

New Jersey

Cattle, flax, Indian com, wheat, and flour

Pennsylvania

Foodstuff, wheat, corn, apples, dairy cattle,

glass, wine, beer, rope, and bricks

Delaware

Furs, tobacco, meat, grain, flour, bread, barrel staves, lumber, horses, cloth, and iron

16

Colonial Exports

So

uth

ern

Co

lon

ies

Maryland

Flax, corn, tobacco, fruit, vegetables, fish, iron, lumber, clay,

bricks, beaver, and ships

Virginia

Wheat, flax, tobacco, corn, and iron

North Carolina

Tobacco, wheat, corn, forest products (tar, pitch, lumber), barrel

staves, furs, metals, and for a time even exotic birds

South Carolina

Rice, indigo, beef, silkworms, cotton, lumber, some tobacco,

grapes, wine, olives, raisins, capers, and currents

Georgia

Rice, clay, pottery, cotton, indigo, tobacco, fruit, barrel staves, and pork

17

The

Colonies England

raw

materials

such as

trees

manufactured

goods such

as furniture

and barrels18

• The colonies were supposed to supply raw materials for England and also provide a market for English goods.

• Like many European nations at the time, England believed that its colonies should benefit the home country. England hoped to grow wealthy by exporting manufactured goods to the colonies.

• This system actively discouraged the growth of American manufacturing.

Mercantilism

20

Year Act Possible Impact on the Colonies

1699 The Wool Act

Declared that wool produced in

the colonies could only be

exported to Britain

22


1699 The Wool Act



exported to Britain

The Colonies could not make money

by exporting wool to countries other

than Britain.

23


1699 The Wool Act



exported to Britain



than Britain.

1732 The Hat Act

Declared that hats made in the

colonies could not be

exported.


1699 The Wool Act



exported to Britain



than Britain.

1732 The Hat Act



exported.


by selling hats to other countries.


1699 The Wool Act



exported to Britain



than Britain.

1732 The Hat Act



exported.



1733The Molasses

Act

Put a high tax on all molasses,

rum and sugar which the

colonies imported from

countries other than Britain


1699 The Wool Act



exported to Britain



than Britain.

1732 The Hat Act



exported.



1733The Molasses

Act





It would make it more expensive to

buy molasses, rum and sugar from

any place except Britain. This would

be a problem because the Colonies

traded areas of the West Indies for

these products.


1699 The Wool Act



exported to Britain



than Britain.

1732 The Hat Act



exported.



1733The Molasses

Act










these products.

1750 The Iron Act

Declared that no new furnaces

which produced steel for tools

could be built in the colonies. It

also banned the manufacture

of hardware in the colonies.


1699 The Wool Act



exported to Britain



than Britain.

1732 The Hat Act



exported.



1733The Molasses

Act










these products.

1750 The Iron Act

Declared that no new furnaces

which produced steel for tools

could be built in the colonies. It

also banned the manufacture

of hardware in the colonies.

This would seriously limit the ability of

the Colonies to make manufactured

goods.

Wh

at?

The Navigation Acts were a series of laws that regulated trade between

England and its colonies.

Under these laws, only colonial or English ships could carry goods to and

from the colonies.

The laws also listed certain products like tobacco and cotton that colonial

merchants could ship only to England.

Wh

o?

The Navigation Acts were passed by Parliament.

They affected a lot of people in the colonies, especially merchants.

Wh

en

?

Parliament began to pass these acts in the 1650s. This continued into the

1700s.

Wh

y?

England passed these laws to ensure that only England benefited from

colonial trade, not any other countries.

Navigation Acts

Colonial Balance of Trade

Exports

Imports

Unfavorable Balance of Trade

lesson 7: the colonial economy...lesson 7: the colonial economy unit 4: colonial life today you’re...

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