9. Imperial expansion and overseas trade Flashcards
(5 cards)
What did the Navigation Acts do for the development of mercantilism?
In 1651, the Rump Parliament passed a Navigation Act designed to weaken the influence of Dutch merchants on English trade. All goods coming into England had to be carried by English ships or the ships of the exporting country. A further 1660 Navigation Act extended the protection of English trade. This mercantilism was intended to close colonial markets to foreign competitors and allow the expansion of English overseas trade. In 1625, England imported more goods than it sold abroad but by 1688 this had been transformed as England re-exported a wide range of colonial goods to Europe. 49% of these imports came from the Americas and the Far East and 31% of these were then re-exported to Europe.
What were the effects of the Anglo-Dutch commercial rivalry?
Before 1560, the Dutch dominated trade with the world markets. On the back of the 1651 Navigation Act, the English went to war with the Dutch. This conflict, while essentially a stalemate, was the start of a commercial and military struggle which encompassed a further two conflicts. While Cromwell ended the 1st Anglo Dutch War in 1654, there were two more under Charles II in the 1660s and 70s. After the Glorious Revolution, England became the dominant nation over world trade and a global power, even though the Dutch essentially had taken over England,.
What was the significance of Jamaica and North America?
During the 17th Century, around 300,000 people emigrated to N. America, establishing settlements in Virginia, Maryland, New England and the West Indies. Puritans relocated to New England with Catholics in Maryland. After Cromwell’s 1654 attack on Spain’s Caribbean colonies, England secured Jamaica. The Caribbean was key as it had sugar, tea and tobacco. Tobacco exports grew rapidly from 20,000 pounds in weight before 1625 to 1.5 million pounds in 1629 and 20 million in 1688. In N. America, the Hudson Bay Company supplied England with timber, salt cod and fur.
What was the significance of British control of the triangular trade?
The Navigation Acts enabled England to replace the Dutch as the dominant nation in colonial trade. After 1650, provincial ports were developed in Bristol, Liverpool and Glasgow. Charles II’s Staple Act of 1663 was designed to increase Crown income off colonial trade. In 1672, the Royal Africa Company was created and used the power of the Royal Navy to secure control of the West African coast. By the 1680s, about 50,000 slaves a year were being transported to N. America and the Caribbean from Africa in return for weapons, gunpowder, glass, fabric etc.
What was the role of the East India Company?
In 1660, the East India Company was founded to establish economic trade in the Asia. Its main bases were in Calcutta, Bombay and Madras, establishing control of the highly profitable trade in tea and coffee. Before 1640, it was handling trade worth £100,000 a year and by 1700 that had grown to £700,000. In 1657 it had its charter revoked due to concern about the Royalist leaning of its governors and a rival group of merchants were allowed to takeover the Company’s possessions. In 1660 this was reversed and it was allowed to issue its own coinage, acquire territories and make war without needing the consent of Parliament. The Restoration also strengthened the Company’s position as Charles II’s marriage to the Portuguese Princess Catherine of Braganza came with a dowry containing the Islands of Bombay which the King rented to the company for £10 a year.
