This paper discusses key issues of the economy of colonial America.
Written in 2004; 4,275 words; 15 sources; APA; $ 113.95
Paper Summary:
This paper explains that, prior to 1750, capitalistic practices and values were not central to the lives of North American colonists, who primarily were farmers. Most of the output from farmers was not for sale in the market, but, rather, was for family or local consumption. The author points out that there were two distinct growth spurts during the colonial period. The first and more rapid economic spurt occurred in each colonial region during the time of settlement, and the second spurt was during the 1740s and lasted to the Revolution. The paper relates that the American colonists issued the first paper money of any government in the Western world; the Massachusetts Bay Colony issued paper money in 1690, which were called "bills of public credit" and "bills of credit" and, by 1712, seven more colonies followed suit.
Table of Contents
Introduction
A Short Chronology of Early / Initial Colonial Economic Development
The Literature on America's Colonial Economy
What was the Rate of Economic Growth in the Colonies?
Legislation Promoting Manufacturing; Natural Resources Available to Colonies
Indentured Servitude as Part of the Colonial Economy
Slavery in the Colonial Period
Taxation in the Colonies
Taxation of Maritime Business
The Sugar Act ? a New Kind of "Tax" ? and its Ramifications
How Businessman Thomas Hancock Coped with Chaos in Colonial Currencies
From the Paper:
"In May, 1607, colonists land at Jamestown, Virginia, but starvation and disease reduce the original 105 settlers to only 32, according to "The Almanac of American History". However, in 1608, new provisions arrive and a self-supporting project of raising corn is instituted ? likely the first economic development in the colonies. Those same early Jamestown settlers brought skills at glassmaking with them and produce crafts, including beads, which are used in trade with Native Americans. Also in 1608, the London Company sends glass experts to Jamestown to build glass furnaces for future production (32). Jamestown's Captain John Smith learns how to cultivate corn from the Indians; he plants 40 acres of corn, which helps avoid continuing starvation problems, and leads to an industry of agriculture."
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