4,814
edits
m (→mercantilism) Tags: Mobile edit Mobile web edit |
mNo edit summary Tags: Mobile edit Mobile web edit |
||
Line 415: | Line 415: | ||
* European political and economic policy of forcing colonial possessions to trade directly with the home country and not others | * European political and economic policy of forcing colonial possessions to trade directly with the home country and not others | ||
* the policy goal of Mercantilism was protection of home country economic interests and stakeholders, and not simply for revenue. | * the policy goal of Mercantilism was protection of home country economic interests and stakeholders, and not simply for revenue. | ||
** the purpose of revenue was introduced in | ** as well as maintenence of inflows of silver and gold to support the national currency | ||
** this system of taxation is called the | ** the purpose of revenue was introduced in the 1760s with the Sugar Act, which reduced the tax with the goal if maximizing revenue while allowing foreign competition | ||
* Navigation Act of | ** this new system of taxation is called the "imperial system" | ||
* Navigation Act of 1651 | |||
** called "An Act for increase of Shipping, and Encouragement of the Navigation of this Nation" | |||
** was in response to English deterioration in trade following the 80 Years War (between Spain and Netherlands), which had resulted in Dutch maritime power (the Dutch Golden Age) | |||
** enacted under the Commonwealth (Parliamentarian control of England under Oliver Cromwell) | ** enacted under the Commonwealth (Parliamentarian control of England under Oliver Cromwell) | ||
** required that all trade to/from colonies had to be conducted on English ships | ** required that all trade to/from colonies had to be conducted on English ships |