I.
Britain
on the rise
A.
Victories
over France
B.
Colonial
benefits – outlet for population, LAND!
C.
Slavery
growth – sugar, transplanted slavery in “US”, tobacco, 4 million US slaves/20%
of population
D.
Colonial
population booms in 1700s (10X in 75 years); high standard of living
E.
Mercantilism
1.
Monopoly
rights on tobacco/sugar
2.
continental
Europe making own cottage industry to compete with British – colonies even more
important; 1773 wool stat – England selling only 2/3 as much wool to
continental Europe as compared to 1700
3.
colonial
markets rescue by buying loads of stuff
4.
new
question – how to make the loads of stuff
II.
Slave
trade
A.
Increase
after 1700/1750 (6.1 million shipped over in 18th century)
B.
Captives
in African battles
C.
British
used “shore method”
D.
Dahomey, Congo; continual
ravaging created African chaos
E.
1772
English law doomed the trade; 1775 anti-slavery campaign
III.
Spain
revitalized
A.
War
of Spanish Succession, remember that? (had to do with Louis XIV’s grandson
Philip being named heir to Spain)
B.
Louis
XIV grandson, Philip V is a better leader than they’d had
C.
Revitalized
– peace, royal authority reasserted, defense
D.
Spain
got Louisiana from France
E.
New
silver – 1/2 the world’s silver came from Spanish lands
F.
Creoles
20% -- Spaniards born in Americas
G.
Debt
peonage – perpetual debt
H.
Mestizos 30% --
Spanish/Indian mix
IV.
Liberal
Economics (capitalism)
A.
Complaints
against mercantilism restrictions (monopolies, restrictions)
B.
Adam
Smith The Wealth of Nations 1776
1.
government restrictions were
bad; laissez faire rules!
2.
“natural
liberty” and reasoned approach; sounds Enlightened
3.
people
should have right/freedom to do whatever they wished
4.
said
employers were always out to diminish or hold down wages and that they entered
into groups to do just that
5.
Two
main concepts: 1) competition (“invisible hand”) and 2) self interest
6.
“greater
common good” would be achieved if only people did what’s best for themselves
individually; “look out for #1”