AP US History in 1 Minute Daily: Mercantilism (Day 31/309)

Welcome to today’s explanation of Mercantilism in my series- APUSH in 1 Minute Daily!

Mercantilism, History Vault

An economic doctrine called Mercantilism emerged as European colonization developed. Under a mercantilist system, the “parent” country exerts strict control over trade in order to increase wealth. The primary purpose of colonies is to enrich the parent country.

Navigation Acts, History Muse

In the mid-17th century, England enacted a series of Navigation Acts to regulate trade. These acts set requirements on the transport and sale of American goods. With the Navigation Acts, England would be able to increase profits by setting prices and adding taxes. 

Mercantilism, Apprend.io

While the colonies would have the guaranteed protection of the English navy as well as a buyer for their products, they would lose huge financial potential.

Dutch Ships Masquerading as English Ships, NCPedia

However, England did not rigidly enforce the acts as they were occupied with international conflicts. This was known as Salutary Neglect. Some colonists did resist the policies through smuggling but were generally able to continue to engage in autonomous trade.

Mercantilism was an economic policy used to enrich Britain through the enforcement of trade laws called the Navigation Acts. However, due to salutary neglect, the colonies were able to continue to trade with relatively little supervision.

Join me tomorrow as I explain Transatlantic Trade & Exchanges in our next APUSH in 1 Minute Daily!