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Economics and Colonization

Economics and Colonization. European Exploration and Colonization of North America. What are the purposes of colonization?. Purposes of Colonization. God? Gold silver Glory? Territory Slaves. Consequences of Colonization. Decimation of Native Population

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Economics and Colonization

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  1. Economics and Colonization

  2. European Exploration and Colonization of North America

  3. What are the purposes of colonization?

  4. Purposes of Colonization • God? • Gold • silver • Glory? • Territory • Slaves

  5. Consequences of Colonization • Decimation of Native Population • Aztec Empire population declined from 25 million to 2 million in 30 years • Measles • Influenza • Smallpox

  6. Codex Florentinus (ca 1545-1580)

  7. Consequences of Colonization • Widespread belief of European superiority in Europe • Wanton destruction of native cultures • Continued need for a source of cheap labour to work mines and sugar plantations • African Atlantic Slave Trade

  8. Diagram of a typical Slaver travelling the Middle Passage

  9. The Expanding Slave Trade

  10. Consequences of Colonization • Sharing of Cultures and Knowledge • African slaves work in New World mines • African and Native American slaves work in Europe • European men and women find homes in the New World

  11. Consequences of Colonization • New World products available in Europe • SUGAR • Rum • Cocoa beans • Vanilla • Tomatoes • Potatoes

  12. Consequences of Colonization • Emergence of a Global Marketplace • Triangular trade • The Atlantic triangle • Firearms and other goods to African coasts, slaves to New World, sugar, tobacco, cotton, rum to Europe • The Asian triangle • South American silver to Europe and then to Asia for spices, silk, coffee, jewels, jade, porcelain, dyes, fabricsand later tea

  13. Triangular Trade

  14. Global Trade Networks

  15. Mercantilism • New system of understanding a nation’s wealth • Wealth of a nation is determined by the amount of precious metals it holds • Trading with bullion meant a loss of wealth • Goal= maintain a surplus of bullion • Problem for trade with East

  16. Importance of Colonies for Mercantilism • Exclusive trade partners • Natural resources provided to core • Timber • Furs • Cotton • PRECIOUS METALS • Core trades as much as possible in finished goods

  17. Results of Mercantilism • Since mercantilist theory argued that there was a finite limit to the world’s volume of possible trade: • Scramble for colonies beginning in the 17th century • Commercial warfare in the 18th century

  18. Mercantile Wars • England vs Netherlands (1652-1672) • Netherlands loses New Amersterdam • England vs France (1700-1763) • Seven Years’ War (1765-1763) • North America, West Indies and India • Britain as the global superpower

  19. Seven Years’ War

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