Economy Flashcards
1620 turning point for tobacco
Rolph brings better quality tobacco seed to area.
Beginning of Chesapeake and failures. 17th century
- almost failed within first 10 years.
- went under the ideas of Sapin.
Wanted to extract goods.
Had to try new things instead.
Also expected same climate as Mediterranean, however poor winters.
Packaging tobacco Chesapeake 17th century.
- barrel
- 160-490-1,000 lbs in 1690s
- got better at packaging.
- utilising space
Land managed Chesapeake 17th century
Man could manage far more land in chesepeake.
X2 as much land in 1680.
War in the Atlantic
Years: 1689-1713 Affected due to pirates Need for convoying Cost. Access to markets Perishable goods.
Issues Chesapeake 17th century
Focus on X. No production for domestic consumption
Increasing inequality.
Resulted in few cities
No milling either.
Tax Chesapeake 17th century
James I taxation on tobacco.
Tariff of £1 per pound
James I introduced it due to taste, harsh on lungs, smell.
Taken away due to harmful effects to the economy of the Chesapeake.
Returns from tobacco Chesapeake 17th century
Huge returns at the beginning
24p (2 shillings)/pound 1610s-20s
Fell hugely, started to increase 1680s to 0-2 pence and up to 3 pence later on.
Imports of plantation tobacco into England and Wales
1616 1,250 lbs
1620 60,000 lbs
1660 12,000,000 lbs
1686 28,000,000 lbs