wat is mercantilism in american history?

Answer 1

The first country to introduce mercantilism in America was Spain. The Spanish American colonies were not allowed
to trade directly with Europe. Instead they had to funnel all of the sugar and tobacco, two common commodities of the new land, through Spain. When this was done, heavy custom duties were imposed and the central government gained. Spanish American colonies were forced into providing precious metals and raw materials to the mother country.
These colonies existed only to enrich Spain, even if the economic policies adversely effected the well-being of the colonies. This grip caused the central economy of Spain to grow at the expense of the colonies. During the duration of this period, the 1500's through the 1700's, mercantilism had a major effect on the economies in the new world.
English speaking colonies were effected by England's policies and acts. These policies and acts were means of controlling the economy of the colonies in America and strengthen the central government of England.

Answer 2

The term mercantilism was coined in 1776 by the Scottish philosopher Adam Smith. The basis of mercantilism was the notion that national wealth is measured by the amount of gold and silver a nation possesses. This seemed proven by the fact that Spain's most powerful years had occurred when it was first reaping a bullion harvest from its overseas possessions.

The mercantile theory held that colonies exist for the economic benefit of the mother country and are useless unless they help to achieve profit. The mother nation should draw raw materials from its possessions and sell them finished goods, with the balance favouring the European country. This trade should be monopolistic, with foreign intruders barred.

Answer 3

Mercantilism is an economic theory that says that the prosperity of a nation depends upon its supply of capital and that the global volume of trade is "unchangeable." It basically started in Europe, but eventually developed in America when they were colonies, so they had to go through Britain first and when they became independent, they had to develop it on their own. Basically, it is early capitalism.