APWH 4.6 continue

Mercantilism

Older government controlled economic system; a 'Command Economy'.

Capitalism

Newer, developing economic profit system of large institutions that allow management of large amounts of money.

Joint-Stock Companies

Reduced risk by allowing multiple investors to share in profits and losses.

Banks

Institutions that accumulate investment capital.

Stock Exchanges

Markets where stocks are traded.

Chartered Companies

Royal trade monopolies granted by the government.

Insurance Companies

Companies that provide insurance to reduce risks of overseas trading failures or accidents.

English Navigation Acts

Laws that confined trade to English ships and cargo.

Exclusif

French system of laws that regulated trade.

Royal African Company

British company chartered in 1672 to conduct trade along the African Atlantic coast.

Great Atlantic Circuit

Clockwise network of trade in the Atlantic Basin.

Middle Passage

Voyage where slaves leave Africa and arrive in the New World.

Slave Trade Numbers (1500-1650)

800,000 slaves arrive in the New World.

Slave Trade Numbers (1650-1800)

7.5 million slaves imported during the sugar boom.

Cause of Death on Ships

Disease was the #1 cause of death during the Middle Passage.

Dahomey

Small African state most reliant on the slave trade.

Sources of Slaves

Larger kingdoms involved in slave wars; prisoners of war sold.

Angola

Greatest source of slaves for the Atlantic trade system.

Islamic Slave Trade

Most slaves used as soldiers or servants; smaller than European slave trade.

African Population Loss Factors

Areas near Slave Coast lost more population; new foods from Americas helped offset losses.

Songhai

Muslim kingdom attacked by Morocco in 1591, leading to tribute payments.

Kanem-Bornu

Important in Trans-Saharan trade; spread Islam.

Hausa

Shifted caravan routes due to Moroccan destruction of Songhai.