nathan elsishans period 6. based on farming aztec wealth flowed to technochitlan supplemented by...
TRANSCRIPT
Imported American materials Exported manufactured goods Controlled trade Mercantilism
Favorable balance of trade
Few ports Difficulty exporting crops
Agriculture based Grew sugarcane Shipped crops back to England Moved crops north along rivers
Slave Trade Most slaves sold to large plantation owners England founded The Royal African Company
Monopolized English slave trade Disbanded and left trade to independent
merchants New England Traders
Bartered rum or salt fish Craft when bartering (sold in short measures/
watered rum often)
Loose packing Lower mortality rates leads to higher profit
Tight packing Packed as many slaves as possible for
maximum profit Had the upper hand
American Slavery Slaves cost twice as much as indentured
servants but had similar life expectancies Became more useful as resistance to disease grew
Royal African Company
William Pitt Suggested war be fought in North America Concentrated on colonial expansion
Colonies saw an influx of British resources and money
France lost all claims in North America England was economically devastated
Instituted by Charles Townshend Increased taxes on commodities (glass, tea,
paint, lead) External Tax Extra money used to pay royal officials
Boston Port Bill Closed the Boston port down Crippled Boston’s trading economy
Quartering Act Allowed for British troops to be stationed in
homes Increased the cost of living for anyone
housing a soldier
Required royal stamps to be placed on all official documents
Decreased the amount of money exchanged between colonists
Increased British revenue Internal Tax
Large National Debt Inflation Britain still most dominant trading
partner after the war Few coins in circulation Printed currency to pay for troops Leads to deflation Lost British trade during war Self sufficient communities Raw material export
Created many items domestically Got loans from Europe
Incurred £250 million national debt
Tax on whisky Encouraged small industries The Congress passed the Coinage Act The
act created the first US mint in Philadelphia. The mint was creating US coins and
establish a ratio of 15 to 1 between gold and silver
First Savings Bank created
Eli Whitney Created cotton gin Separated cotton from waste
Dominates Eastern economies Labor intensive Begins to be profitable in southern states
1. Who was the first Secretary of the Treasury? John Locke Alexander Hamilton Eli Whitney Thomas Jefferson
2. What machine allowed for harvesting cotton to become profitable? Spinning Ginny Steam Engine Cotton Gin Telegraph
3. Tariffs were meant to Protect small industries Block trade with France Increase the importation of British goods Block trade with Russia
4. Which of the following was a strategy used to raise money after the American Revolution? Increase taxes on exported goods Issue bonds Increase trade with France Stop Trade with Canada
5. The English began raiding Spanish ports To get revenge on the pope for declaring Spain as owners of the Americas Out of hatred of the Spanish king To disrupt the Spanish trade empire in the New World Because they were bored
6. The American Indians and French Traded and formed alliances with each other Despised each other because of French land encroachment Never came in contact with each other Worked together to create a series of successful plantations
7. Colonies in Virginia made the highest profit off of which crop? Maize Sugarcane Rice Tobacco
8. What was the main effect of importing silver and gold into Europe? Prices rose quickly due to inflation The standard of living for most peasants improved The price of tea in China dropped dramatically Slaves were imported from Africa to continue mining operations in the Americas
9. Before the advent of the slave trade, African economy was based on Small Farming communities Large scale exportation of sugar Manufacturing The European Iron trade
10. The Seven Years War Increased the amount of slaves imported into America Caused an economic crisis in England Transferred power in North America from England to France Decreased political tension between the colonies and England
11. A tobacco based economy was prominent in which colony? Georgia Rhode Island New York Virginia
12. Which of these acts was considered an internal tax? The Quartering Act The Stamp Act The Sugar Act The Townshend Revenue Acts
13. The increase in wealth among the rich colonists can be attributed to what cause? The lack of new farmland The sudden shift in focus from agriculture to manufactured goods A rapid decline in tobacco exports A strong increase in the need for furs
14. The most profitable crop in tropical regions was Tobacco Sugar cane Rice Hash
15. Which method was most commonly used by slave traders? Loose packing Land based caravans Tight packing Immediate resale to other African colonies
1. Alexander Hamilton2. Cotton Gin3. Protect small industries4. Issue bonds5. To disrupt the Spanish trade empire in the New
World6. Traded and formed alliances with each other7. Tobacco8. Prices rose quickly due to inflation9. Small Farming communities10. Caused an economic crisis in England