England's enforcement of Mercantilism

Definition

England's enforcement of Mercantilism was an economic policy aimed at increasing national wealth by regulating trade and commerce, emphasizing the importance of a favorable balance of trade. This system involved the government intervening in the economy to control colonial trade, ensuring that raw materials were sent to England and finished goods were sold back to the colonies, thus enriching the mother country. This approach was crucial during European colonization as it shaped colonial economies and relations between England and its colonies.

5 Must Know Facts For Your Next Test

1. Mercantilism was rooted in the belief that a nation's power depended on its wealth, which could be increased through a favorable balance of trade.
2. The Navigation Acts were significant tools used by England to enforce Mercantilism, leading to resentment among colonists who sought greater economic freedom.
3. Under Mercantilism, colonies were expected to provide raw materials like tobacco, sugar, and cotton to England, fueling its industrial growth.
4. England's enforcement of Mercantilism led to the establishment of a triangular trade route, linking Europe, Africa, and the Americas.
5. The strict adherence to Mercantilist policies ultimately contributed to tensions between England and its colonies, setting the stage for future conflicts.

Review Questions

• How did England's enforcement of Mercantilism impact colonial economies during European colonization?
  • England's enforcement of Mercantilism heavily influenced colonial economies by directing them towards producing raw materials for export while limiting their ability to develop independent trade networks. Colonies became economically dependent on England for manufactured goods and faced restrictions on trading with other nations. This imbalance fostered economic resentment among colonists who felt exploited and constrained by these regulations.
• Evaluate the effects of the Navigation Acts as a mechanism for enforcing Mercantilism on colonial relations with England.
  • The Navigation Acts served as a critical mechanism for enforcing Mercantilism, significantly impacting colonial relations with England. While they aimed to secure profits for the English economy, they restricted colonial trade freedoms and led to widespread smuggling. The resentment generated by these acts contributed to growing tensions between the colonies and the British government, eventually playing a role in the movement toward independence.
• Assess how England's enforcement of Mercantilism laid the groundwork for revolutionary sentiments among colonists in the 18th century.
  • England's enforcement of Mercantilism laid essential groundwork for revolutionary sentiments among colonists by creating a sense of economic oppression and exploitation. The restrictive trade policies fostered feelings of injustice, as many colonists believed their economic potential was stifled by British control. This growing dissatisfaction, fueled by Enlightenment ideas about individual rights and self-governance, helped ignite revolutionary fervor leading up to events like the American Revolution.

Related terms

Navigation Acts:

A series of laws enacted by England in the 17th century to regulate colonial trade, mandating that certain goods be shipped only on English ships and sold only to English markets.

Balance of Trade: The difference in value between a country's imports and exports, where a favorable balance means exporting more than importing, which was a key goal of Mercantilist policies.

Colonial Economy: The economic systems that developed in the colonies, primarily focused on the production of raw materials for export to England and reliance on imported finished goods.