lecture recording on 11 February 2025 at 14.57.58 PM

Overview of Lecture 6

• Final lecture before the first test.

• Focus on rivalries and early colonization.

Sixteenth Century Exploration

• Funded by monarchs (e.g., Spain and Portugal).

• Conquistadors explored new territories on behalf of their kingdoms.

Seventeenth and Eighteenth Century Colonization

• Transition to private enterprise funding.

• Private companies took over exploration and colonization efforts, especially in more capitalistic countries.

Concept of Mercantilism

• Mercantilism: An economic system aiming for a favorable balance of trade.

  • Definition: A country exports more than it imports.

  • To achieve this, mother countries created colonies to provide resources and markets.

  • Example: England establishing colonies to secure resources like tobacco.

  • Transactions often involved trading raw materials from colonies for manufactured goods rather than simple cash payments.

Joint Stock Companies

• Creation of Joint Stock Companies to fund exploration.

  • Investors could buy stock to support these enterprises.

  • Significant companies:

    • Dutch East India Company: Funded by the Dutch Republic.

    • British East India Company: Largest in history, fueled British colonization efforts in hopes of profits.

Piracy and State-Sponsored Raids

• Increased maritime activity led to piracy.

  • England and France sponsored privateers that raided Spanish and Portuguese ships for treasures.

  • Not traditional piracy, but state-sponsored actions to combat rival nations.

Decline of Portuguese Dominance

• In the 1500s, the Portuguese controlled spice trade routes.

• By the early 1600s, the Dutch began to dominate these routes.

• The Dutch took over trade posts and islands, expanding their influence and establishing colonies.

Dutch Colonization

• Established New Netherlands (later New York) along the Hudson River.

• Colonies and trade were organized around resource distribution.

British Exploration Under Elizabeth I

• Queen Elizabeth I encouraged exploration and colonization in the New World.

  • Key figure: Sir Walter Raleigh.

  • Significant events:

    • Naming of Virginia after Elizabeth (the Virgin Queen).

    • Failed Roanoke colony and eventual establishment of Jamestown in 1607.

Jamestown Settlement

• Funded by the Virginia Company, a Joint Stock Company.

• The first successful English colony, faced severe struggles initially.

• Discovery of tobacco as a cash crop by John Rolfe revitalized the colony.

• Economic opportunities, land access, and not just religious freedom spurred immigration.

Sugar Plantations in the West Indies

• Establishment of large sugar plantations, notably in Barbados (1625).

• Introduction of African slaves for labor on these plantations as profitability increased.

British East India Company

• Formed to control trade and resources in India.

• Strengthening of alliances with local Rajas and a significant commercial footprint developed.

• Factory forts: Establishments for company officials and trade logistics.

French Exploration and Settlement

• French focus on New World colonization led to continued exploration.

• Key explorers: Samuel de Champlain (Quebec) and LaSalle (Mississippi River).

• French approach differed, focusing on fur trade rather than large scale farming colonies like the British.

The Fur Trade

• Central to the economy of New France; trade with Native Americans was crucial to operations.

• Beaver pelts were highly valued and drove economic interactions.

Slave Trade Developments

• Slavery existed historically; European involvement marked a distinct period.

• Stages of the Slave Trade:

  • Capture Stage: Involves local tribes capturing slaves and trading them for goods.

  • Middle Passage: The horrific journey from Africa to the Americas; typically lethal conditions.

  • Inspection and Auction: Slaves were sold in auctions after arriving at their destinations.

• About 8 million slaves transported, majority to Brazil and the West Indies.

British Control in India

• Indian soldiers known as sepoys were created to bolster the British army's presence and influence.

• The British Parliament began to oversee governance, merging economic interests with military authority.

Navigation Acts and Mercantilism in America

• Navigation Acts: Series of laws aimed at enforcing mercantilism and regulating trade.

  • Prevented colonial trade with foreign competitors.

  • Tobacco, sugar, and other goods could only be traded through Britain.

  • Smuggling became common among colonists to circumvent these restrictions.

Triangle Trade

• Trade route that involved the exchange of rum, slaves, and sugar:

  • From New England to Africa (rum) → From Africa to the West Indies (slaves) → Return to New England (sugar/molasses).

• Profits primarily benefited the colonies rather than Britain due to smuggling.

Conclusion

• Review of the importance of mercantilism and major colonial developments.

• Preparation for upcoming test covering material from lectures one through six.