Mercantilism/Navigation Acts

Question 1

what was mercantilism?

Answer 1

a system of economics

argued that there should be a large working population and domestic raw materials should be used to reduce imports

as many goods as possible should be exported to gain as much foreign currency as possible in return

Question 2

what did mercantilism encourage?

Answer 2

overseas trade

Question 3

what did mercantilism do in this period?

Answer 3

protects English trade

promoted shares in imperial companies

taxes on imported goods

Laissez faire government

competitive prices for the consumer

better rates for imperial good- imperial preference

Question 4

what was the Navigation Act of 1651?

Answer 4

aimed at the Dutch- goods had to be carried on English ships or on the ships of the country of origin

Question 5

what was the Navigation Act of 1660?

Answer 5

introduced ‘enumerating’ certain colonial products shipped directly only to England

non-enumerated goods could go in English ships from English colonies directly to foreign ports

Question 6

what are examples of enumerated goods?

Answer 6

sugar (until 1739), indigo and tobacco

rice and molasses added during the 18th century

Question 7

what was the Navigation Act of 1663?

Answer 7

also called the Staple Act- colonial exports (mainly American) had to be transported in English or colonial ships and imports had to pass through English ports

goods were inspected and taxed- colonies could only receive goods via England

Question 8

what did the 1660 and 1663 increase?

Answer 8

the cost and shipping time for the colonies

Question 9

what was the Act of Union in 1707?

Answer 9

gave Scotland equal privileges as England

Question 10

when were the other Navigation Acts? what were they designed to do?

Answer 10

1673, 1696, 1773:
close more trade loopholes

increase the list of goods and commodities

increase the taxes on goods

appoint vice-admirality courts in colonial America to enforce navigation laws

Question 11

what were the effects of the Navigation Acts?

Answer 11

English tonnage and trade increased steadily from the late 17th century

restricted Dutch access to English trade

assisted London in becoming the centre for American goods

rapid increase in size and quality of the royal navy (Dutch navy 3/5ths the size of the English one 1689)