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Transatlantic Economy

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Transatlantic Economy. And Revolution. Building the Atlantic Economy. Mercantilism and Colonial Wars - PowerPoint PPT Presentation
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Transatlantic Economy And Revolution
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Page 1: Transatlantic Economy

Transatlantic EconomyAnd Revolution

Page 2: Transatlantic Economy

Building the Atlantic EconomyMercantilism and Colonial Wars• 1. English mercantilism was

characterized by government regulations that served the interests both of the state and of private individuals. Mercantilism in other European countries generally served only state interests.

Page 3: Transatlantic Economy

•2. The Navigation Acts of 16511663 were a form of economic warfare against Dutch domination of Atlantic shipping. They gave British merchants and ship owners a near monopoly on trade with Britain’s North American colonies.

Page 4: Transatlantic Economy

• After defeating the Dutch, England fought a series of wars with France for maritime domination of the world.

• a) War of the Spanish Succession (17011713)

• b) War of the Austrian Succession (17401748)

• c) The Seven Years’ War (17561763) ended with British winning full control over India and North America.

Page 5: Transatlantic Economy

B. Land and Labor in British America

• 1. In Britain’s North American colonies cheap land and scarce labor resulted in the following:

• a) rapid increase in the colonial population in the eighteenth century.

• b) import of African slaves to tobacco plantations in southern colonies.

• c) growing prosperity for British colonists.

• C. The Growth of Foreign Trade

Page 6: Transatlantic Economy

•1. Britain and especially England profited from the mercantile system.

•2. As trade with Europe stagnated, colonial markets took up the slack.

•3. English exports grew more balanced and diverse.

Page 7: Transatlantic Economy

Atlantic Slave Trade

•1. The forced migration of millions of Africans was a key element in the Atlantic system and western European economic expansion.

•2. After 1700, Britain was the undisputed leader of the slave trade.

Page 8: Transatlantic Economy

•3. Increasing demand led to rising prices for African slaves.

•4. Africans participated in the trade.

•5. After 1775, a campaign to abolish slavery developed in Britain.

Page 9: Transatlantic Economy

E. Revival in Colonial Latin America

1. Under Philip V (r. 17001746) Spain recovered economically and successfully defended her American colonies.

• 2. Rising silver exports in the eighteenth century helped create a class of wealthy Creole (American-born white) merchants.

Page 10: Transatlantic Economy

•3. Creole estate owners dominated much of the peasant population through debt peonage, really a form of serfdom.

Page 11: Transatlantic Economy

War of Jenkin’s Ear

• Great Britain vs Spain• Treaty of Utrecht: 1713—Great

Britain gains two privileges over Spain: 30 year asiento, or treaty to supply Spanish colonies with slaves and

• Britain allowed to send 1 ship to Portabello Fair

Page 12: Transatlantic Economy

•British kept ships offshore and at night re-supplied the one legal ship

•1731—Jenkin’s ship boarded•Spanish cut off his ear, which

he then kept in a jar of brandy•1738—Jenkin’s addresses

Parliament w/his ear as evidence to prove Spanish atrocities to Britain

Page 13: Transatlantic Economy

•British merchant interest in the West Indies forced Sir Robert Walpole to go to war w/Spain.

•This became the opening for additional wars in Europe

Page 14: Transatlantic Economy

1740-1748: War of Austrian Succession

•December 1740: Frederick II seizes Austrian province of Silesia

•Results: ignored the Pragmatic Sanction

•Upset the Balance of Power in Europe

Page 15: Transatlantic Economy

• France drawn into war by aristocrats, who forced Cardinal Fleury to support Prussia’s aggression against Austria, the traditional enemy of France

• French move against Austria brought a response from Great Britain: she enters war on side of Austria to ensure Low Countries remained under Austria’s power

Page 16: Transatlantic Economy

• 1744: War spreads to New World• France supports Spain against

Britain• French military and economic

resources badly divided and could not strongly support either struggle

• 1748—Stalemate ended war and Treaty of Aix-la-Chapelle signed

Page 17: Transatlantic Economy

•Treaty gave Silesia to Prussia and Spain had to renew the asiento w/Great BritainTreaty was truce, not permanent peace

Page 18: Transatlantic Economy

Diplomatic Revolution 1756

•Old system:•Great Britain France•Austria Prussia•(Russia) (Spain)

Page 19: Transatlantic Economy

Convention of Westminster, 1756

•Great Britain and Prussia sign defensive pact, to prevent invasion of Prussia (Russia and France)

•Maria-Theresa upset, but PM Kaunitz arranged a defensive pact w/France

Page 20: Transatlantic Economy

•New alliances:

•Great Britain France•Prussia Austria Russia France would fight to restore

Austrian supremacy in central Europe

Page 21: Transatlantic Economy

1756-1763: Seven Years’ War

• Aug 1756: Frederick II invades Saxony (Preemptive strike?)

• Continuation of defensive pact • Invasion triggered destructive

alliance that Frederick II feared: France and Austria joined by Russia, Sweden, smaller German States unite to try to destroy Prussia

Page 22: Transatlantic Economy

•Two factors save Prussia:•Great Britain gives Prussia

much financial aid•1762:Empress Elizabeth of

Russia died; replaced by Peter III

•Prussia on verge of destruction

•Peter III had unending adoration for Frederick II

Page 23: Transatlantic Economy

•Peter III makes peace w/Prussia

•Takes no compensation•Gave up Russian gains

(including Berlin)•Signed alliance w/Prussia

(discontinued under Catherine II)

•Frederick left to fight France and Austria

Page 24: Transatlantic Economy

• 1763: Treaty of Hubertusburg:• Ended continental fighting• No change in pre-war borders• BUT Great Britain successful

around the globe, under William Pitt the Elder (1708-1778)

• With French troops diverted on continent, Pitt sent 40,000 troops to North America France

Page 25: Transatlantic Economy

North America in North America in 17501750

North America in North America in 17501750

Page 26: Transatlantic Economy

•In Canada, France was unable and unwilling to devote similar resources and troops against English in New World

•French military admin corrupt•Mil/pol commands in Canada

divided•Inadequate provisions to N.

Am. forces

Page 27: Transatlantic Economy

• England also had support of colonists, who wished to expand westward;

• Sept. 1759: Plains of Abraham: British General James Wolfe defeats Fr. Lt. General Louis Joseph de Montcalm

• Fr. West Indies also fell to Great Britain: income from captured sugar helped to finance Britain’s war effort

Page 28: Transatlantic Economy

• British slave interests captured most of French slave trade

• 1755-60—value of French colonial trade fell more than 80%

• In India, Robert Clive defeats French forces at Battle of Plassey, 1757.

• Britain conquered Bengal, and later all of India

Page 29: Transatlantic Economy

Treaty of Paris 1763

• Britain receives: all of Canada, the Ohio River Valley, and eastern half of Mississippi River Valley, except New Orleans

• Britain returned French settlements of Pondicherry and Chandernagore in India and Guadeloupe and Martinique

Page 30: Transatlantic Economy

North America in North America in 17631763

North America in North America in 17631763

Page 31: Transatlantic Economy

Results of 7 Years’ War

•Thousands killed/wounded•Global battles•Prussia more dominant•Holy Roman empire ineffective•Austria dependent upon

Hungary’s territories

Page 32: Transatlantic Economy

•French no longer great colonial power

•Spanish empire intact, but could not withstand British

•British East India Company imposed its own authority on indigenous governments in India

•N. America: Britain had to organize new land

Page 33: Transatlantic Economy

•All countries faced a financial crisis: need to increase revenues to pay war debt

Page 34: Transatlantic Economy

Steps toward American Revolution

•Cost of Great Britain’s empire immense

•British national debt rose 700% as a result of the 7 Years’ War

•Britain needed to raise taxes to pay for new territories and the national debt

Page 35: Transatlantic Economy

• Britain believed, since colonists were beneficiaries of new territories, they should bear cost of war, protection, and administration of those territories

• 1764: Sugar Act passed—rigorous collection of what was really a lower tax

• Smugglers who violated law were tried w/out juries in admiralty courts

Page 36: Transatlantic Economy

Interrupting Trade

•Any goods not from the Americas were taxed;

•Traders shipped their wares to Cuba, stayed one or two days, picked up crate from Cuba: entire shipment was “from America”

Page 37: Transatlantic Economy

Admiralty Courts

•Ships arrive in harbor•Accuser claims ship is illegal•Accuser:1/3•Judge: 1/3•British Treasury: 1/3•Cargo, ship are sold; nothing

happens if accuser is wrong

Page 38: Transatlantic Economy

• 1765: Stamp Act passes• Americans felt these were illegal

—no representation in Parliament

• October, 1765: Stamp Act Congress, led by Sons of Liberty, drew up protest to crown

• November 1, day Stamp act went into effect, all facilities requiring a stamp were boycotted

Page 39: Transatlantic Economy

•1766: Parliament repealed Stamp Act

•Declaratory Act allowed Parliament to legislate laws for the colonies

•1767: Townshend Revenue Act passed: taxes on all imports: paper, tea, glass, lead, paint

Page 40: Transatlantic Economy

1768: Sam Adams writes circular letter opposing taxation w/out representation

Calls on colonists to unite against

Great BritainColonial governors ordered to

halt endorsement of letter; NH, CT, NJ endorse it

Page 41: Transatlantic Economy

• May 1768: British Ship of War sails into Boston Harbor as a call for help by British customs’ commissioners

• Boycott of British goods spreads• March 5, 1770: Mobs harass

British soldiers in Boston: boy threw a snowball? British soldiers fire back—5 die—Boston Massacre

Page 42: Transatlantic Economy

Tar and Feathering

Page 43: Transatlantic Economy

The Boston Massacre The Boston Massacre ((March 5,1770March 5,1770))

Page 44: Transatlantic Economy

• Soldiers arrested and tried for murder, but found innocent

• April 1770, Townshend Acts repealed

• All duties on imports removed except tax on Tea; Quartering act not renewed

• May 1773: Tea Act passes: 3 penny/pound import tax on tea

Page 45: Transatlantic Economy

• Tax gives East India Company, almost bankrupt, a monopoly on tea

• EIC sells directly to colonial agents—no middlemen

• Oct 1773: Mass meeting in Philly opposing Tea Tax

• Nov, 1773: three ships sail into Boston Harbor

• Nov 29/30th—mass meetings in Boston re tea on ships

Page 46: Transatlantic Economy

• Britain wants taxes paid on ships• Colonists want ships to leave

Boston• Dec 16: 8000 Bostonians gather to

protest• That night, Boston Tea Party• March 1774: Intolerable Acts

passes: all commercial shipping to Boston halted until Boston pays

Page 47: Transatlantic Economy

Boston Tea Party Boston Tea Party (1773)(1773)

Page 48: Transatlantic Economy

•Boston must pay for tea and taxes on tea

•Ben Franklin offers to pay for tea, but Great Britain wants justice

•May 12, 1774: Boston calls for boycott of British goods; Massachusetts placed under military rule of General Thomas Gage

Page 49: Transatlantic Economy

•May 20th: next set of Coercive Acts passed:

•Massachusetts Regulating Act and Government Act

•Administration of Justice Act•Quebec Act•June, 1774: New Quartering Act

—all colonies•Gov. Gage seizes weapons at

Charlestown, MA

Page 50: Transatlantic Economy

TheTheQuebeQuebec Act c Act (1774)(1774)

Page 51: Transatlantic Economy

First Continental First Continental Congress Congress (1774)(1774)

55 delegates from 12 55 delegates from 12 coloniescolonies

AgendaAgenda How How to respond to to respond to the Coercive the Coercive Acts & the Acts & the Quebec Act?Quebec Act?

1 vote per colony 1 vote per colony represented.represented.

Page 52: Transatlantic Economy

•Sept. 5-Oct 26: First Continental Congress meets at Philly

•Oct. 14th:Declaration and Resolves adopted

•1775: Battles of Lexington and Concord

•May 10, 1775—Second Continental Congress

•June—Battle of Bunker Hill

Page 53: Transatlantic Economy

Thomas PaineThomas Paine: : Common SenseCommon Sense

Page 54: Transatlantic Economy

Declaration of Declaration of Independence Independence

(1776)(1776)

Page 55: Transatlantic Economy

•1776: Thomas Paine: Common Sense

•April 1776: American ports opened to all nations

•July 4, 1776: Declaration of Independence

•1778: Ben Franklin convinces French to aid colonists

•1779: Spanish also give aid to colonists

Page 56: Transatlantic Economy

•1781: Cornwallis defeated at Yorktown

•1783: Treaty of Paris: American colonies free from Great Britain

•New sense of liberty w/out monarch

•Republican ideals

Page 57: Transatlantic Economy

War of Independence or Revolution?

•Elite classes remained in charge

•Poor whites not represented•Blacks still enslaved•Women and native Americans

forgotten

Page 58: Transatlantic Economy

Revolutionary Social Change

•Departure of 60,000 loyalists•Leveling effect of inflation•Creation of new mythology:

country w/a mission•Liberty for all•Social status could improve


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