Land of Liberty or Opportunity Essay

2405 WordsSep 3, 201410 Pages
Land of Liberty or Opportunity Review Project Colonial Era: 1492-1760s Economic Opportunities The innovative economic platform of America during the 1500s was the first global system in history. European increase in commerce and population caused countries such as Portugal, Spain, France, and Great Britain to seek wealth overseas. Opportune Europeans had the ability to monetarily prosper from Triangular Trade and the Columbian Exchange. In the Triangular Trade system raw materials were furnished in America, the labor force came from Africa, and the mother country shipped the manufactured goods around the globe. America had many commodities such as fur, lumber, tobacco, and sugar. The first significant economic force of the Colonial Era was the Virginia Company’s journey to America. A joint stock company, comprised of investors, supported this embarkment for lucrative opportunities. Gold was not a source of great fortune therefore they relied on tobacco production. Tobacco, a popular Britain product, can only be grown successfully in an area for about three years. This caused the size of Virginia to expand. Land was available at this point, but a workforce was not. Therefore indentured servants, a cheap labor force, were implemented to satisfy the numerous farms. Indentured servants were the labor backbone of the Chesapeake colonies because created an American idea that free labor was essential to a growing economy which led the slavery. The British capitalized on the American boom by laying strict laws upon the colonists. In 1650, the British created the Navigation Acts which limited exports from America only to Britain. This monopolized American trade to the benefit of the British and hurt the colonists ability to expand and prosper. Later the Molasses Act was established as a trade barrier from other fertile lands and protect British West Indies

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