Trans-Atlantic Trade 2.4

When did trade become global?

In the late 17th and early 18th century

Triangular Trade

1. Ships would start in New England then carry rum tot WEst Africa

2. Trade rum for enslaved laborers

3. Once enslaved africans arrived in the British West Indies, they were traded

4. Departs from West Africa and sail the middle passage

5. Merchants headed back to New England where they traded sugarcane for rum

• British parliament passed Slave Trade Act in 1788 → limited # of enslaved people that could be stuffed into the ship

Economic Principles

Mercantilism: dominant economic system in Europe

• Assumed that there was only a fixed amount of wealth in the world, b/c they measured wealth in terms of gold and silver

• Main goal:

  • maintain a favorable balance of trade → nation wanted to have more exports than imports

• Establishment of colonies:

  • gave mercantilist powers access to raw materials that they couldn’t find in their own country

  • Those colonies could then become markets for their manufactured goods

Navigation Act

Britain forced all goods to be transported through English vessels and port (where they were taxed) in 1681

• led to some smuggling

• Frequent changes in British government led to changes in the colonial relationship 

  • William and Mary released or eliminated James II’s coercive measures

• 1720s-1760s - salutary neglect - British officials overlooked colonists’ violations of the Navigation Acts

• 1760s - King George III attempted to reassert control over colonial trade

• DIVIDED ENGLAND AND COLONIES

Summary

Trans-Atlantic trade generated massive wealth for the elites of society: merchants, investors, and plantation owners

Transformed America’s seaports into thriving urban centers