Mercantilism

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As fore said by the economic historian Gerald Gunderson, "Mercantilism is a philosophy of nation building, a series of economic controls intended to strengthen a country and its colonies against other antagonistic empires. A major tenant of this view was self-sufficiency- sources of supply'raw materials, agriculture, and industry'should be developed domestically, or in colonies, to prevent interruptions by hostile foreigners. A large merchant marine was also deemed important. Cargo vessels of that era were designed to repel pirates and thus could be easily adapted to military roles during war. Finally, the mercantilists were preoccupied with specie (gold and silver), than a universal foundation of money. Short of possessing gold mines, as Spain did, specie could be acquired with a 'favorable' balance of trade, that is through learning foreign exchange by selling exports that brought in more money than was paid for imports." Mercantilism was the economic theory utilized by Great Britain towards its empire during the 17th and 18th centuries. Although the British thought mercantilism would mutually benefit the colonists and the Mother Country, the colonists had a much different viewpoint.

Great Britain brought about the idea of mercantilism to increase their countries' wealth and power. Although there were some benefits for the colonies, most were for the Mother Country. They utilized the colonies to produce raw materials and goods for export only. Mercantilism helped the colonies by making them more self-sufficient, and gave each state specialization. The colonies provided raw materials not found in the Mother Country and increased the size of the domestic market. Mercantilism provided the colonies with protection from foreign competition. It benefits the Mother Country by adding to its gold stock and increasing its productivity. The Navigation acts were endorsed bringing money into the Royal Treasury and regulating trade. All the goods destined for the colonies had to go to England first. They had to be on a British ship with at least three- quarters of the crew being British. Goods such as tobacco, sugar and rice could not be shipped outside of Great Britain. One economic historian (Jonathon Hughes) describes government than and today in this way, "Eighteenth- century government, like most governments now, was one of organized special interests gaining advantages for themselves at the expense of the unorganized. Subsides here, taxes there, prohibitions, special grants of privilege, year after year, decade after decade, has produced the British government.

The colonists viewed mercantilism in a different way. They thought that they were imposed of many burdens and restrictions. Great Britain forbids any foreign built or own ships to trade with the colonies. All imports and exports had to go through Great Britain first. This allowed Britain to collect the import duties, which made the colonists pay more for the imports from foreign countries. Until 176 when the enforcement of the Navigation acts was tightened, the colonists began to show interest in gathering independence from Great Britain for free trade.

England's long war with France, although victorious, left Britain with a huge debt. Britain felt that the colonies bear a greater share of the cost of maintaining the empire. They imposed a series of new taxes on the colonists, and enforced the existing ones. The use of the colonies as supply depots for the home economies and exclusion of colonies from trade with other nations produced such reactions as the American Revolution. Write my Essay on Mercantilism for me

While the colonists were preoccupied building their new lands, they didn't see beyond the obvious. At first, they thought Great Britain was helping them build their colonies, helping with the specialization and protection. It wasn't until later, though, did the colonists realize Great Britain was utilizing them for their wealth and power. They realized by boycotting that they could become stronger. The American Revolution asserted their desire for freedom to seek economic advantage wherever it could be found.

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