Mercantilism Essay

1234 Words 5 Pages
Economics Up to 1775*
Mercantilism is an economic theory and practice that promoted governmental regulations of a nation’s economy. Mercantilism is the economic policy aimed at accumulating monetary reserves through a positive balance of trade, particularly of finished goods. High tariffs, mainly on manufactured goods are a universal feature of mercantilist policy. There was much emphasis on money was succeeded by industrial policy. Mercantilism encouraged many European wars as well fueling European expansion and imperialism. The idea of mercantilism was initially to protect the markets while helping maintain the agriculture and those who depended on it.
A joint-stock company is an association of individuals in a business with transferable
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The act banned the use of paper money as legal tender in all colonies. Parliament also enacted the Sugar Act on April 5, 1764. The main purpose of the act was to raise revenue to help with military costs. The stamp act was successful at reducing the amounts of smuggling that was occurring at the time. Even though it did contribute positively it also had a negative effect because it disrupted the economy, it increased the cost of imported items and reduced the amount of exports to non-British markets. The Americans were also against the sugar act because of the economic impact of it. Other than the currency and stamp act, there was also the stamp act which was the first direct tax on American Colonies created in March of 1764. Again, much like all the other acts, the Stamp Act was also established so that the revenues could help pay off the British Debts from the war as well. They were with high hopes that it would pay off at least one third of the revenue that was needed to support the military. This act placed a tax on basically any legal document such as newspapers, almanacs, pamphlets insurance policies ect. Due to unfair taxation colonial merchants also effective economic boycott that eventually led to bankruptcy for most …show more content…
Not only did he warn the two men but everyone else as well that there was going to be a battle. The battles of Lextington and Concord were first of many battles of the American Revolutionary War. The battle of Lextington and Concord was fought on April 19, 1775. There was always tension building up between the the thirteen colonies and the British colonies. This battle encouraged the beggining of the American Revolutionary War.
The American Revolutionary War took place from April 19, 1775 to April 11, 1783. It lasted seven years, eleven months, three weeks, and two days. The war was the rebellion of the thirteen colonies who considered themselves independant in 1776. The war had resistance of to taxes made by American by British parliament which then led to "taxation without

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