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HISA04H3 (11)

WTWA Textbook sept 30.docx

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University of Toronto Scarborough
William Nelson

WTWA Textbook (pg. 438 – 493) Economic and Political Effects of Global Commerce  Furs from French North America  Sugar from the Carribean  coffee from southeast Asia  Silver/Gold from the Americas This resulted in dependence on products so that their loss for even short periods of times resulted in political disturbances. When new mines for metals were found, the power from these new riches resulted in soaring/dropping commodity prices. Internal unrest in countries:  bolstered legitimacy of rule in England, France  prompted local support of rulers in sub-Saharan Afica o Also led to cival wars and social unrest  Ottoman states, provinces left central control  Safavid rule ended  Ming dynasty gave way to Qing dynasty  Rivalries between princes and merchants resulted loss of Mughal authority (not helped by peasant uprisings). Extracting Wealth: Mercantilism American mining was very lucrative for Spain/Portugal. Other Europeans wanted wealth too. Other types of products were wanted (sugarcane, cotton, indigo, rice, pelts). Sugar  Transformed diet in Europe  Originally from Polynesia then in New World Plantations  Between 1690 and 1790, Europe imported 12 million tonnes (one ton for every African slave in America)  Tooth decay due to too much sugar became a leading cause of death in Europe. Colonies were supposed to provide wealth for ‘mother countries’ = mercantilism world’s wealth was fixed. One countries wealth was due to the expense of other countries. This assumed that overseas existed just for wealth of other countries (colonies shipped more than they received in return).  Colonies also had to be closed to other countries so that foreign traders could not take resources.  Mercantilism needed an alliance between merchants and country. Countries needed independence between economy and politics, so the merchants’ products had to enrich treasury, while the merchant needed the country to protect his interests. o This meant chartered companies: European monarchs awarded these firms monopoly trading rights over areas, MORE WEALTH = MORE MONEY FOR WARS New Colonies in the Americas  Rulers in France, England, Holland granted monopolies
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