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The British Empire and other strong European powers adopted the economic system called Mercantilism in the belief that such a system would further their national prosperity. Under this system, England had to attract the maximum amount of gold and silver, since wealth is measured by these metals. England also had to export more than it imported and receive gold and silver as payment for the difference between the payment system. In order to ensure that exports would have a strong base, it would subsidize domestic industry with awards for exporting as much as was possible. Imports would be discouraged by hifg tariffs on such imports that tried to compete with homeland industry. The acquisition of overseas colonies would assure a market for the homeland exports. And, provide an inexpensive source of raw materials, and some gold and silver as well. To keep the colony markets open to homeland exports, restrictions on the colony imports would handle that. Forbid trade with rival European nations as well.
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The British system of mercantilism was opposed by many American colonists because it?
user-generated content: report abuse The British system of mercantilism was opposed by many American colonists because it? they had tasted economic independence for too long of a period just to sink back to british mercantilism policies
The british system of mercantilism was designed to?
Mercantilism was designed to have strict control over its colonial trade so it can good economic strength
How did the colonists respond to the British system of mercantilism?
They began to smuggle goods into and out of the country
Why was the British system of mercantilism opposed by Americans?
because is placed quotas on Immigration
What political influences shaped the governments of British colonies?
it was the same as the BritishObviously the the governments of many former British colonies are base on the British system of government and law. That and in some instances influences that came from the original culture and religion.
Why was the british system of mercantilism opposed by American colonists?
because is placed quotas on immigration
Why did many colonists protest the british system of mercantilism?
a whole bunch probably more than worth counting.
What war was between the thirteen colonies and British mercantilism?
The American Revolution was the war between the thirteen colonies and British mercantilism.
Who held the policy of mercantilism?
the British Government
How is capitalism different from mercantilism?
Capitalism is an economic system. Mercantilism is trading.
Fundamental goal of British mercantilism was to?
the British wanted the colonies to establish an economy to their advantage. They would use high taxes and tariffs to obtain money for their advantage.
What was the mercantilism system?
The mercantilism system was an economic system prevalent in the 17th and 18th centuries. It relied on the European countries deriving wealth from their colonies.
