Enclosure Movement
English landholders enclosed their properties, displacing peasants to raise sheep for wool.
The wool was sold to manufacturers in growing cities.
Mercantilism
European leaders believed in a limited supply of valuable resources like gold and silver.
Wealth seen as a zero-sum game: one country's gain is another's loss.
Encouraged colonies to fuel mercantilism, pushing for maximum production to send goods back to England.
Aimed to export more than imports to increase gold and silver inflow.
Joint-stock Colony
A colony that needed to return profits to stockholders who funded its establishment.
The tobacco industry played a significant role in this model.
John Rolfe and Tobacco
Rolfe introduced tobacco to England after learning from the Powhatan Confederacy.
Tobacco became a valuable export that satisfied joint-stock economic interests.
Headright System
Granted 50 acres of land to anyone who traveled to Virginia or helped a laborer to do so.
Indentured Servants
Individuals contracted to work for sponsors for typically seven years.
Upon completion, they earned freedom but mostly only gained the opportunity for land ownership.
Indentured servants formed the majority of the colonial workforce in the 17th century.
Bacon’s Rebellion
Led by wealthy landowner Nathaniel Bacon against Virginia's colonial government.
Discontent was prevalent among indentured servants and poor farmers pushed for land access.
The rebellion ultimately exposed deep class tensions and a desire for a new labor source.
South Carolina’s Economy
Dependent on enslaved African labor:
The colony was wealthy with a focus on crops like rice and indigo.
North Carolina had poorer subsistence farms and fewer enslaved Africans.
Slave revolts were a constant fear, leading to stringent slave codes.
Georgia’s Founding
Established in 1733 by James Oglethorpe as a military buffer against Spanish Florida and a refuge for England’s poor.
Navigation Acts
Laws to enforce mercantile policies in the colonies.
Aimed to control resources, ensuring all trade benefitted England.
Smuggling flourished due to lax enforcement before 1688 and increased colonial independence.
Dominion of New England
1686 effort to merge governing and enforce Navigation Acts.
Sir Edmund Andros led the abolishment of colonial assemblies, causing massive resentment.
Leisler’s Rebellion
Dutch militia captain Jacob Leisler took control in New York, rebelling against elite English dominance, seeking more democracy.
His governance included reform efforts for non-English residents.
Benjamin Franklin
Born into a working-class Boston family with limited education.
Notable for work in journalism, invention, and diplomacy, promoting meritocracy through his publications.
Proclamation Line of 1763
Aimed to halt westward colonial expansion post-war to avoid financial burdens.
Resented by colonists seeking land for social mobility.
Paxton Boys
Western Pennsylvanian group's response to native raids and lack of protection, culminating in violence against Native Americans.
Their march to Philadelphia prompted governmental inaction on the Proclamation Line.
Salutary Neglect
Period where Britain failed to enforce navigation laws, leading colonies to develop independent governance and economic practices.
Benefits and Drawbacks of Mercantilism
Benefits: Protection from British military presence. Guaranteed market for goods, bolstering economies, especially in the South through tobacco trade.
Drawbacks: Economic constraints due to Navigation Acts, particularly limiting New England's shipbuilding and fishing economies.
Regulator Movement
A 1770 protest against political discrimination in North Carolina, leading to violent confrontations with authorities and eventual suppression.
Shays’ Rebellion
Post-revolutionary uprising led by Daniel Shays in Massachusetts to protest economic injustices and foreclosures.
Highlighted weaknesses of the Articles of Confederation and prompted calls for a stronger federal government.
Hamilton’s Three-Part Economic Plan
Controversial proposal leading to establishment of the first political parties due to differing views on federal financial policy.
Key elements included settling war debts, protective tariffs, and creating a national bank.