1. Mercantilism

2. Mercantilism The belief that a country’s economic strength depended upon getting more gold by exporting more than importing

3. Goal of Mercantilism...

4. … GOLD!

5. Colonies n Supplied parent country with raw materials (lumber, cotton, sugar, precious metals…) n Served as a market in which the parent country sold finished products (furniture, clothing, tools…)

6. Restrictions n Colonies could not trade with other countries n Colonies could not make finished products

7. Trade and manufacturing were prohibited so that the colonies were dependent upon the parent country for any finished products

8. Precious Metals Natives of Latin America were forced to mine silver and gold

9. Plantations n Created for large-scale production of cash crops n Natives of the area and slaves from Africa were used as labor

10. Saving an Investment n Colonies were protected by the parent country from others who would invade the colony

11. Competition n 1500s - European countries competed for colonies in the New World n Spain and Portugal competed for land in Latin America

12. Missionaries n Once colonies were established, missionaries tried to convert Native Americans to Catholicism

13. n Missionaries established missions in areas only populated by Native Americans (no colonists)