Economic profit was a primary driving force in the colonization of Virginia. By the late seventeenth century, once settlers realized that cash crops such as tobacco could be highly profitable, most of labor force relied upon the importation indentured servants from England. However, planters had to find alternative cheaper and reliable labor supply because of the shortage of English indentured servants. As plantation-based and cash-crop-oriented economy had continued for several decades, planters in Virginia imported a large amount of slaves. In fact, Virginia developed into a slave society where slavery was the foundation of the economic and social order in the late seventh century.
The differences that occurred between the New England and the Chesapeake region that evolved them into two distinct societies were social and economic development based on the geographic factors around the region The social differences between the New England and Chesapeake region were, in the New England region, they came with their families and communities; they had an organic view with their society, and needed each other to survive. They also came for religious freedom and to start a new life in the new world. The population in the New England region was also much larger than the Chesapeake, since they came with their family and not as individuals. Those in the New England region also planned to stay for a long time to build up a society. While in the Chesapeake region, they came for economic gain by setting up plantations to grow a cash crop and had a atomistic view on their society.
At first the company tried to attract investors by giving them shares in the Virginia Company that could be redeemed for land. When this didn’t work the Virginia Company was forced to try something else. Because of the lack of profits and high mortality rate the company then began to ship the indentured servants to Virginia at the company’s cost. The servants would then be placed on company-owned land. Once the indentured had arrived the company would rent them out to planters
So this was also a key factor in the expansion of the slave trade. The profitability of the slave trade was enormous for any job involved especially people like merchants, bankers and financiers who were very keen to invest in the development of plantations, purchase of slaves and in the building of ships to carry the slaves and goods since they made such huge profits on their original investment. But also the plantation owners who did not have to pay for the labour as the slaves obviously were forced to work with no pay could profit from this. Of course, the slaves, however, did not profit from this at all. At this time there was a need for a labour force to work the lucrative plantations and so this was the basis on which the slave trade was formed.
As economic growth occurred, so did technological advances. The rapid growth in economy and technology meant that the value of land had also increased. With advancements like electricity, telephones, cameras, coal mining, factories, railroads and many others, this meant that the quality of life had significantly increased. This in turn caused the value of land to increase. Wealthy individuals were able to capitalize on this economic growth and make profit.
The Chesapeake colonies were based off and succeeded because of very different strategies. Socially (doc c). Tension with natives, king help (doc g). Bacon’s Rebellion (tension b/w the haves and have-nots of society)>indentured servants>increased slaves (doc h). OI: Because of the prosperous soil in the Chesapeake colonies, the economy was agriculturally based.
Once they started to plant the colonists realized that the plant would just flourish on the new and fertile soil, they then had the production of that plant to feed that economy for their early settlements. In the Chesapeake areas, usually young men just moved to the region for the plantation (C). The people that came to the land had a huge effect and led to the future of each region. Another difference that showed to different
As a result we will sell more and earn more money to help pay off the deficit. The only bad part of legalizing marijuana would possibly be the side effects of people smoking marijuana. However, the government knows people are going to smoke anyway, so we might as well make a profit of
For Spain, they developed all of Cuba, central Mexico, and Peru. They exploited massive quantities of gold, tobacco, and slaves. But the economy was not very stable because of all the political unrest. As for New England the economic development was very steady because of political and social security. The Puritans wanted to make a society which would be a model society that other countries would want to follow.
Bacon’s Rebellion was the most influential period in the American government because it helped transform the labor force by replacing the indentured servants with slaves, leading to the development of race which transformed the social equality class system and contributed to the economic and political solidarity. Bacon’s rebellion caused the establishment of labor force from Indentured servants to slaves. Before Bacon’s rebellion, indentured servants were the primary source of labor and African Slaves were very rare in the Chesapeake Colony. Due to the economic disaster Bacon managed to unite indentured servants, poor whites and some African Americans in the war against the leaders of the colony who demanded an end to their servitude. (Ref: Give me Liberty).