New England Colonies Economy

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Economics is a very important factor in our country and it all began through mass production of tobacco and new ideas. Tobacco growth in New England in the early 1600s is what constructed our economy from the start. It’s rapid growth fulfilled by John Rolfe in 1612 led to mass production. This was refined in Jamestown, which is a New England colony discovered in 1607 by the London Company.
The London Company was a joint-stock corporation charged with the settlement of Virginia, which was sponsored by King James 1 of England. This produced a route from the Indies through America, for the settlers that came.
The English Parliament sent various taxes and policies, mainly to pay for French and Indian War debt, which was mainly for their benefit
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They also boycotted and which gave them power for future actions. The Currency Act of 1763 required Colonists to pay merchants in gold and silver, rather than paper money. It was impossible for them to pay in gold and silver when resources were getting harder to get. The Colonial reaction was a continuation in hostility and refusal to pay. The Quartering Act of 1765 was a policy that required colonists to offer their houses to British troops, they were also vital to feed them. The colonists responded to this by protesting in legislatures. This eventually led to the Boston Massacre of 1770. The Stamp act of 1765 was a British requirement stating that all legal or official documents used in the colonies had to be written on certified British paper. This would again, pay off the debt from the war. The colonists did many things to get rid of this act, like protesting and boycotting. The “Sons of Liberty” was organized and they became effective protesters. Eventually, the act was repealed because the boycotting was hurting the British …show more content…
They stated the following: certain goods could not be shipped to certain foreign nations, English and American colonial ships were the only ones allowed to carry cargo between imperial ports, English Parliament would give “bounties” to the those who produced particular raw goods, and Americans couldn’t compete with English manufacturers in large-scale manufacturing. These acts restricted colonial trade, strictly for the benefit of the British.
The colonists complained about the new trading laws [Navigation Laws], but many colonists in New England instead avoided these restrictions by smuggling. People like John Hancock became rich from the act of excessive smuggling. England then initiated a policy of salutary neglect towards the colonies, instead of starting conflict. Salutary neglect meant that the trade laws that most hurt the colonies were not enforced. This was done only because British officials needed America for support when they encountered the French over the oppression of the

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