Agricultural Economy And Diversification Chesapeake 18th C

Question 1

Factory system Chesapeake 18th century

Answer 1

Glasgow merchants keep tobacco in warehouses
Increased efficiency and reduced turnarounds
Cost of wages
Glasgow overtook London as biggest re-export market

Question 2

Private responses to decrease in price of tobacco Chesapeake 18th century

Answer 2

Increase productivity. Packaging processing. Most effective was the Scottish use of factories

Question 3

Diversification, main form of craftsmen Chesapeake 18th century

Answer 3

Joiners

Question 4

Did the Chesapeake 18th century import manuf goods

Answer 4

Es

Question 5

Negative affect of increase family etc. Chesapeake 18th century

Answer 5

Increased dependency and pressure put on workers.

Women started working more and spinning

Question 6

Hedging on tobacco Chesapeake 18th century

Answer 6

There was an increase in hedging. This is the protection against adverse affects by investing (inesense insurance) in something else in order to reduce the affects of the situation.

Question 7

economic Diversification Chesapeake 18th century

Answer 7

Increased in diversification into grain, iron, and naval stores.

Question 8

Affect of population density on economy Chesapeake 18th century

Answer 8

Thinly populated as it was a huge bay, placed themselves along the sides of the bay for easy transport.

Meant that there was less stability and less concentration on other industries and diversification.

Question 9

What did the large scale of tobacco farming mean for the Chesapeake in the 18th century

Answer 9

Increased difficulty to enter the industry. Large farmers. Small ones don’t have the same economies of scale.

Other activities prevailed.

Increased inequality

Question 10

How many people owned slaves in Chesapeake 18th century

Answer 10

2/3 people owned slaves

Question 11

Affect of credit Chesapeake 18th century

Answer 11

Huge expansion post 1750, but also huge increase in debt

1770 saw 65% of British debt come from the colonies. £4 million.

Question 12

UK Financial crisis 1772

Answer 12

Spread debt and crisis to collect debts in Chesapeake.

A few plantations got foreclosed

Question 13

Twopenny Act

Answer 13

1755 act by virginia assembly in anticipation of low yielding tobacco crop, permitted payment of obligations due in tobacco over a 10 month period at 2p/pounds. 1758 similar act of a duration of 1 year.

Anglican clergy did not like it as their salaries were fixed tobacco

Question 14

Stamp tax Chesapeake 18th century

Answer 14

1765. A tax imposed on all pieces of printed paper in the colonies. Had to pay to get stamp on piece of paper. Increased costs and decreased relations.

Question 15

Townsend Acts 1767

Answer 15

Increased taxes o n colonies. Resulted in disgruntled people.

Consumers boycott when crown did this. Washington was one of them

Question 16

Affects of diverse action in relation to regulation Chesapeake 18th century

Answer 16

Less regulated by the crown as it is not enumerated goods and less associated with navigation acts.

Question 17

Further affects of diversification Chesapeake 18th century

Answer 17

More people can buy locally

Increase in self reliance