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US History timeline & concept chart: 16th-18th centuries (to 1754) British-American colonies: Difference between revisions
US History timeline & concept chart: 16th-18th centuries (to 1754) British-American colonies (view source)
Revision as of 15:34, 23 April 2024
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==== mercantilism ==== | ==== mercantilism ==== | ||
* 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 | ||
* Navigation Act of | * 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 tbe 1760s with the Sugar Act, which reduced the tax with the goal if maximizing revenue while allowing foreign competition | |||
** this system of taxation is called the "imperial system" | |||
* Navigation Act of 16511760s | |||
** 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 | ||