Mercantilism: Notes and Terms

Mercantilism
--Under mercantilism, the government directed all economic activities within its borders, subordinating private profit to public good. In particular, government tried to minimize imports and maximize exports. England applied this doctrine to America. But to make the system work, Britain would have to control America too, keep it from trading with other partners.
--But many English attempts at controlling American trade = unenforced. 1 reason = sheer distance between colonies and England. Second = politics. Almost all of American colonies = founded before sacendanc of Parliament in 1688, or when ultimate authority in England = uncertain. Much of the time, rulers in Englnd = too concerned with domestic affairs or wars in Europe to think of Americas.
--But when Charles II acceded, colonies = significant enough to protect. Thus, merchants pressed Navigation Acts, 1660,63. Basic principles = always the same:
1) forbid all trade with colonies except in ships owned or contructed there or in England and manned by crews at least 3/4 English or colonial.
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