To what extent did England regulate colonial trade?
Countries have colonies to make money.
Colonies are a source of raw materials and markets.
Mercantilism-theory that a nation's economic strength comes from having a favorable balance of trade.
"Whoever commands the trade of the world commands the riches of the world."
exports-goods that are sent to markets outside of the country
imports-goods that are brought into a country
A favorable balance of trade is when EXPORTS > IMPORTS.
New England made huge profits from trade. England wanted a share of those profits=====>Navigation Acts
In 1651, England passed the Navigation Acts to make sure England made money from its colonies' trade.
Only colonial or English ships could carry goods into and out of the colonies.
The colonies could only ship certain products (tobacco and cotton) to England.
Creates jobs for English workers
Triangular Trade-colonial trade route between England, the English colonies (including the West Indies) and Africa.