economy
Category: History
Updated: 13 Aug 2024
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Created byValentina Felix
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Events
Colonists arrived in
Chesapeake Bay
in 1607.
Jamestown, Virginia was
the first establishment
by the English.In the early 1608's the
colonists had
insufficient food
to get them through
the winter.1612: John Rolfe
introduced tobacco
making it a highly
profitable cash crop.1619: First Africans
Arrive in Jamestown
This brought the
development of the
plantation economy.1624 Virginia Becomes a
Royal Colony: This goves
the Crown more control over
its economic activities,
particularly tobacco
production and trade.1639: First Printing Press
in the Colonies. Spreading
information and ideas supporting
the economic and political growth
of the colonies.1640s: Expansion of
the Fur Trade: became
major economic activity,
with beaver pelts being
popular in Europe.1651 Navigation
Acts Begin: only trading
with English ships and
such goods be shipped
only to England or its
colonies. Beginning the
mercantilism dominating
colonial trade.1660: Renewal and Expansion
of Navigation Acts: Reinforces
control over trading, strengthening
mercantilist system making colonies
contribute to England's wealth.1670 Founding of the
Hudson's Bay Company:
A fur trade monopoly in
the Hudson Bay area expanding
European economic interests.1672 Royal African
Company Chartered:
giving it a monopoly
over the English slave.
Slaved African American
population grew in the colonies
helping the cash crops.1676 Bacon’s Rebellion:
highlights economic inequalities
and issues between frontier settlers
and the colonial government, mainly
over land issues and Indian policy.1680s Growth of the Rice
Economy in South Carolina:
Rice becomes a major export
crop, colony’s economy extremely
reliant on enslaved labor. Growth
of the plantation system in the
Southern colonies.1686 Dominion of New
England Established: King
James II merges several
colonies into the Dominion
of New England, doing direct
royal control. This impacts
the economic freedom of
the colonies, in terms of trade
and taxation.1692 Salem Witch Trials:
Trials reflect underlying
economic issues in
Massachusetts,
where competition for land
and resources creates issues
among colonists.1699 Wool Act Passed:
The English Parliament
passes the Wool Act,
restricting the production
and trading of wool in colonies
to protect English woolen
manufacturers. mercantilist
policies affecting colonial
economies.
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