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    Rockoff - History American Economy

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    4 views54 pages

    Rockoff - History American Economy

    Uploaded by

    JuanCarlos

    Copyright:

    © All Rights Reserved
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    of 54
    History of the American Economy ELEVENTH EDITION GARY M. WALTON Unies of California, Deis HUGH ROCKOFF utes Unersiy SOUTH-WESTERN c on spon pl ls nee on par wopmom ‘ananp tony prop vonsndod wma aN = free ag md ep peo ans Bowe ce ou 2 es pe ai a9 PIE! By Hed gy i peep uy gpa gp peg sani po Pou PUrOH "PBODg ds S nob sau ay se huuod oye am © sea ped poo UPN 2g, , 922T-LO9I SHALLOMdS Aad TVOIIOLSIH GNV OINONOOT eeaoriee QLLT-LO9T *1q [eMO]OD ay], L iuvd An Founding the Colonies EUROPEAN BACKGROUND TO THE VOYAGES OF DISCOVERY European Roots and Expanding Empires By the end ofthe fifenth century, howeve, nara Erope had expen xnmecal got, speci the Hane cic orig the Nar Sa apt 2 og cory exhausts cl pwc ete ad ou of om ‘exe ec etme nd we eo Ege Thi cen ‘eel de ihe Medrano ae has ei coy wel ws he pil inzene ape ppt, ch a ee ing he i ey oth ty 2 mo ngr in Barpe and ekenhereinddig, iat, ‘hematin bln proces : tutes, Cable Europe had been pte in tn nied Ep ren pn ‘Under the vigour end imaginative ede aval aed at Sse va ifeeth century Cope Cansreral,Porag—fom othe dom the weser The bd of rriing winds of he mighty Antic ‘a Be youu pau 9g PHN HON oe sede SNSeaNaE a TY 26 pegs pg amg ozzy pur yn gs une Sp 9 "BOP w) uo ot yo ado TENOR 2, cpa ed yo ada wny sun ws ao vot pT Sew RY Sauda SONICGNVdXa ‘NIVdS UNV TVDN.LYOd so an yar 39 90 al wan sprig gett ano» ap oe i on 20 yi oP me yD steep afer de eat eS ? al 26 Pa Te Colo 1-16 ‘elegans tena ahmed ae 1 THE LATECOMERS: HOLLANI AND ENGLAND sae Hote Fane and End he Wait Map 12) Dak sees pelo ome ee & yenrounc.ano SNF ean ro .g08™ Ws lec oo moch mpi on the eames of trading oss and to {ation to Sil esublish ther overeat epee vt tind ot Fane and England Decme the ci eampetios nthe centre: tong race for soem. Hoa 148, wen See de Chanpanexisied Ques Tena aucrslywodetok explores in Americ werward to the Gres! Lies ad estas te mos begining of tbe French an Inn ; Coda ant the Career compared wih 2 malon ia the English North ‘netic cai or our purrs the mst important fextare of the expansion of Eaope a the sendy snd perient gow of seen othe Reh edie of Noch Armen ‘Why were he English sch cul colonies "o be sue, the Engh ke the F the Span andthe Fo h sales and ther seagling cuts inthe widemess of Noch Amerie were mete ‘Tey tel in Latin Ameri, whe privates such es Fanci Dra treasures a they sled the propl to the New Wat FIRST BRITISH SETTLEMENTS IN NORTH AMERICA. Perilous Beginnings ‘Two alfbrthers, Si Humphrey Giber and Sit Wa Rag, wee the fit Eh | re to undertake eros venture in America. Gi sees sees nto Newfoundland in the snd step Raleigh in tar, was ranted the ight 1 have cord ofthe ed wit radi of near 60 miles . egg song foxy 2 sd at ama dns Wind 9 mo 39 ap ea ly ND ‘Sy amo E99 pes Lm 2 ps 9 ie oot p Ape, aaNAG Ow =e “Sra sngen wage cat wee pee enppu 1 UN aan io econ 2 ngs foo 0 oon ne poe poe wy pm EH “oud es mg cogs pales oh ee muse Sap pe 8 ‘ru psi nog ag pe 28 rnd ane #8 preety ‘aia jp qa 2g am pry Siqspiey epuoy Suuds Bano) pg hae ‘way pauwas poe pon yf n0 edeorp 2p Jo ro 2 ps dary ang popu dard top, a wou ePEL PME LEH uy sunt od wien 20 pue youl, JO SHER 9 BN ap "AN fo na vc 200—paye ama saump on Gos pou ‘apT ot SST ny oS pup 0) sy oroine emiang op p Zane? SERENE Ts 0 ‘Bona orpaeaid smd ynpue 20 sun gs 0 po Ea = ng pos MEAN 2, i a wD 9 NEw 9 pe HL SWAOMTY ATAVT ‘v3 emo pod ou oan Amen ae ees se ha time pe tae suatut ee) LAE 36 Pat The a Bo 6-176 ship. The royal investigation ofthat year sb whered porate orm ofthe clon In 1625, Vig was converte hn lo Nass 6 Cm svoidel ore of th problems ‘voided cot drcton and ‘lesion and mere homogenous regas ble sof communal rangement thee, bt as Engl cine. The Betis empire ia Noth Americ ‘tended from French Canada to Spanish Hex and through to the sue entation ind ofthe Caribbean. in the eigen erty, of page, bound pefomed any work thee employe” demanded in exchange fr roa, bard, PROPERTY RIGHTS AND INCENTIVES. Te tes of alc erp ed ey "You are ence a ts pot ob ree hg 2 ang he Ces 31 incentive elles (Rana Henig Propesion i eral ya fe Ad aig en fy (pel of land ecg tthe propertin of thir “suo fe 9) eau 2g snp yo sb wae aus 9 uu 195 LORD 1 mos wao rap YBaany euaUY 01 SoD ao FERFEYDAD zany SY ‘ay am Woo OE HE oo 2g pm BONE = wea KYLE BO UNE um PROD saorqun x 60 Bappepnns (6s mas PoE gD 9 opal aw A cs omopat wo eounees a Jo maze uoUED we 29) AKRON pam ang won page Aa» sum04 pe ARE OL A WEN eg Smut Fayed 350 Sarpy YR HNP mos Ra se sue el pangs pun ng 2 pus ae 8 wd 4, sm 221 20 sees pomp yon pamt> somos soe aye Bu 09 aH ran Lone wane oy “eee spon a pages ome aang a sepa yo Buus 36 9p pu aq 0 eed oto 9 woop 4 (G61 gq) aunaddes 5 xzeu sg o 27 rar ag az PON PIO 29 oy aed sau a2 Sold sams pou 39) se sm apn = ng of snppar any Ai aqua pty 0 irouey'yo somos sey 2 24 umes sa ds a ppd pe sduppar se 2a Agen ‘sueu9 des ‘omg po redomg jo wspds apn ey wp aoe sees nj unjaon wo us oapenens pu suit) uy Un ape we Fed ene, urNp Jo Pear a pry 20 Loo np wopian, weU pre Seca 9 ND LE 1 at To ls 107-276 | hapa eng he Ca 36 DEMOGRAPHIC CHANGE RALE ET FORTRON RETO FON THE WOT ETE COTOMET iw THousaNDS) Underpopulation Despite High Rates of Population Growth | ‘One mor fact of American economic Me—undepopuaon and labor secy— eed wg hee lei, te ern pra wp of tation pra incl popu govt wes ely ewe nd means of ecg th nce, rk, and hans ie tein | ‘esa isa ans Daa waa ur saree 170. the eve afte Reoation ony oe whi in 10 v8 the igure fox acs Was Between twos hein 12 | marc sce, arb canoe drums, and the igh vale of abr vee) on sp pe nny 29 ed 90 EE oH de ander 4 suey iy fwd pg eg es uw pig worn sogrt 6 st 9 lg aig 7 ug pu a gy Enns yf oun 4s 9080 AL NOBLE Mead 005 "3 digs uf mn weadod waza "ouy MUON )P parE 2) UO se OK expdod yo woos Hoe ‘net Tz aE, AOS HLL Jquegads pseza omg em ea weg oy 9 weld ee fae jo sqina a pytbs Kgeyped ear pln jo RENE phe ae oo te Ane vom 9 ppop py AHO "HD np dun ea ayo a ER a AY AN Jp Bown oso er ga NEE AHO AN IPH MA ee peg sagen me see iets epieen mb cn es 7 Maa 9 wove fo sacl pms ng uel wn ary 905 0 wll wows“ nuns pe png me te a wy tr 500 aL NOM 2 paar sry jemi Saino ‘hmnen wim a Ag ungetdo yo 25 fone pseu uo 7 ay w uno 2p am yp a 0 209 Py MBX =p ON prose TPO rer dey =k a 29 ge fe eB, {ep ORS a ae Agu ney poe oR a UE fue ptm hap Tui esis 9 ECONOMIC INSIGHT 2.2 EARLY EUROPEAN AMERICAN ECONOBIIC RELATIONS AND DEMOGRAPHIC CHANGES, nouns a (pen ou Be — tre 4 S Nene ba EARLY EUROPEAN-AMERICAN 7 ECONONHG RELATIONS AND ie DewoaRAPH CHANGES a ‘Re pti se Am a Nh Ba Asn expo mel pen Ger bce Sh 23 ge et wre i en 125 1995 Sa Ppt df Re 84 12,575, nd gr ering 82 TABLE 2.2 POPULATION ESTIMATES FOR VARIOUS REGIONS OR TRIES AT TIME ‘OF ARRIVAL OF FIABT EUROPEANS IN NORTH AMERICA ms whenever 1 ‘ opin cn Tero os nd lt New rt | ay wena fue a 809 20H deg) dg ns pak “oP OL S66t nea oY DEL par mou, 4 ayy po wang cosine, ‘npy Ly “xg MBH) 94 "A un 98 OE oe nog ances sn, RR) PLINY PR PHAN HL PD IPEY SONIGVAN CaLSADDNS UNV SAONTMATTY CALOTTAS 1 sen og aD man nntctoarpnten reste eT Sama ‘ye (CHAPTER THEME Colonial Economic Activities LAND AND NATURAL RESOURCE ABUNDANCE, LABOR SCARCITY ‘Throughout the colon peti, mest pepe depended onthe lad for «Inehood rom New Harpe to ECONOMIC INSIGHT 3 SOCIAL ENGINEERING AND ECONOMIC ‘CONSTRAINTS IN GEORGIA tothe Crown, Financed by bh rate an pbc Cpr: Cbd Boson eke ing comma ro un = OY =P Ey ne eels on pd ma a Pe sejuojeg Wau Nog ay. + sn me SNOLLVZITVIOUdS ‘IVNOISAY GNV TUALIAONIDY 20 po adn mam ue Lae pope en me Ltd 46 at The ani a 00-76 ape: Cd Bo Actes 47 Auction of nen vate of the gin lied erp inthe aa aeand Caro, although rblens fig rine 18s posbl to gow sce without istrmitentfoadng and raiig bu the ty of he pin ula. Rice was fst cle nthe nan samp tht coud Mode pe scaly fom the rte, bt the Gooding depended on uncerin sen fe Bs, ch 4 yroring athod cud nt be wed onthe xref and ty andthe water cul be removed ust Specs of ale economia ce prod Us nt plat and herve, Ses wer ingested in great numba dig techn ety ote purposes, ‘he “task sem of working aves, which pt ach live para pee of round to cant, wa fo The work waste, smi tote "gig sea” wed in ‘ge rection in the Caribbean and it yas eal out nb, mooie ‘wp Aesop cp a len wor ce ty tg ae the range of diese and the sof eneenaion tan vere Eaojeans, the may ‘ae aang blacks inthis elon was igh Recent cholaip poder venc hat beats ot this contemporary vier. Blacks bal dpeportonaly high aes of mv i he othe mind coon, and whites had dspopartorately Nghe deh at. the fa southem and Cartan colonies. Phi Coho end Bb MeGiie (1957 exlin hse ieee in terms af the races comig it conte with aos for which thy ba lit 0 pir geographic expose Tropic dies were pty devs, aro, ess o Aficans (Coho and McGuire 197. Despte production dias, ee opt tay increased wot he end of tcl prod is ele ly extend Jing fom below Svenah up it the south gan of Nath Cac, Indigo To the profits from sce wee wed thse fom anther taple—indig, 50 ame fom a pln ative to Ins. The indigo plat Sr opis eed eT he aoe ig ef eer, ‘Nig pln cen exe mu et at abe he “Cust ene) mo os uo ga rd pegs 9 20 5 “prada so sss po seig pue ‘5380104 ‘sing tre eo ue saat pe “3 pu 20d wo 02 sven ume! Ag ad yung 2caS (9 exnaoy sou eg A uejGug many sto psi long ne aS uma Spe mie fa ay i fe my ead Sag ay nai per we ney papoad nf 5 sua me La AMERICAN INDIAN HUNTERS AND THE exna Gnu cnptien de et. DEPLETION OF THE BEAVER bee ep vith hgh day, Tart forme of territorial bunting eights (property acerca ‘9 anong Nerh Anca uber Sebel ssc gine bcs bets ec afoeed ‘na indict (banc: em Pope 3 nei mate) ln ey ‘sce ge poly ened ed 200, tbs & pnp ited ry png Dugas utes pape Oe Secatof epi cei ea ater fester ese nt ie i to mor Engh ding ots 170 176 aod repo ever poplatiog Charles eA ay il indy by cut Te sc tae el er nny pp Ee eco ee egy et eR fc be eed res The owing tl ton was reve rom the eg an seed rere the gan ee a shan pie were dicorered asthe poplin iron by thn was bt 3000 tos or one serenth ‘Ps Dt the clos rained hey net ingots of ied ron rode Yoox) Soi 20 (peo) Bano Ye) npr 205 aurp © spre, pue si (et qui) oape wend app 925 ao po 20) pl aS og 2 es en pe co SARLLISAGNI ONTUALOVANNVIN FHL su eg ge py al aN 9 OY sjanpoig vag ¢ eaey mums ME mE secant ep aL 5 Pu The Ca: 4-176 eb Coa Eom had amare nd per hipaldng was he iy of rv ma mi mk Aiwa eile nee pg wk erg fo ome ing was on Sooo Ae. in bath the North and the South, Paper-making. | eno uns in New Enld,warecallsd | cs ye 205 Ha ss fap we A 2 HOR =P sats mecne—ssung 3 wou 88) us) 9 Coy moa rt onins was agry fo Lev Uae 06 om sone fo uo quoun Jo seiabanway pope A, POM oy sag = JOqeT pono UdoME PoE wd ‘pa 210989 pp oeranis aL, par ‘weuntony ‘dei por apPD ePE 5p Ha wo snay orn yoann, mony eas SHU WOO Po GOIN HL, HE SHY OL ang uous moog AD eo) 1 aprng Aaumasy oes pape, A2N HLT-e9! UMM fw Lima ung wearer a1, Pon Aig PUR WE Many ay ALL oUOMRAL FM SD HE “NETL SONICVAY CILSADOAS GNV SHONTUATA CALOTTAS ‘0s fq 20008 aoa sm Sud) snySyoe pom ends Spd pur 2p Suge “Somed ny up “po dey pent yo ye ase 3 5 ug ms rong Sey sg poser an a A, (9 ws) uo pu fof a aga agi vi fo a, “do gon 8 eps pap ae yo ppg stun or orp agony ap Sap SHIN 3 esa pn Kees oy ang peep sep hg penprmam 2G) oh eT -TUNLONMLS ATV NVORSINY 3ALLYNL Eero xp wi Ze apneng dap pam > 3p pang po! Sanat you pow dag ae ox any pp pod oy WP AD oumab: semi pangrnco Supodead orm ny He pe aL 2x0 ap pump jr acco ge Ay Po 3 Ap RE ENSyeEZO ‘roa supe Dao Aap pe ARES POE OGY $dNOUD TYNOLLVdN090 Anne in 90 AK SA SHR espe eau pun a digs mudi eee wy pate spo pave an aoe Sins 34 {aq pi en ir fom noma pe ebs EAD axa oy pn sam a Pou D> pa A HPT I snovoosyy sepen, Auras uy saueypoas yay pox qu ayy $e WsREAye He 222% "USM atu ee LLL 95 ‘CHAPTER THEME - The Economic Relations of the Colonies ENGLISH MERCANTILISM AND THE COLONIES Chapter The om Ren ee a 39 mptng abc in ies, but the rinary ons that ltd the clos ‘wee te Navigation Acts ‘The Early Navigation Acts they mere the ene of casa ‘kal; no diapin of abled ade pattems ding the remsining decades ofthe only lord enforced throaghoot mot of Fister a Nother Spain. poms sm sng 08 a ay pa ea ny ACVUL GNV ONIddIHS SVESUAAO ‘prog en ogy HK pen kipouros po ‘done wana won paodan 24 Serpod 9g [Pd fq dep ewndos GS w suo 2 ists gms ap aaa a oy sa els mmmnret ‘che pop ety Sap Bas emo np epee aL — ne SLAMUVW ANY ‘SIMONI ‘SLUOdXT ig mano apie meen same ln il suf me LER 08 (6 The Cl are Poca Dason fn Trey Source: Shepherd ond Wali 1872, 10-16 fexccanay = a wooiZSoues wont Stoucs ow ea as 7 it, [a] a] 2 Ls 21% | West indies us] ja) ada Io Pease =n wim vei eo se ot om en =a = =| 2 Oe 10% wesinaes [Jon mal ee fon I feo> Raw RB peRD ay, “Low fH 241 00 Peli 9 mou wy a Ea nm HID 99 psa Bt reudeg pue qeq ‘Aeuoyy :suoneo1dieyy) ec ED HL LING HL 74 Pat The Cao SELECTED REFERENCES AND SUGGESTED READINGS ‘Bezanson, Ann Presi Cool Pneania Pare, Richard Yonke and Cres Card, Mas Philadel Unversity of Peayhana, Press, 3s. Di, Doll Soon ecm of He Nr Roberson, Rose M. Hitory of he American Bion- Ex, Joseph A. Money and otc in Ameri ‘omy, 2nd ed, New Yak: Haeaurt, Brace & Worl, 7S, Chapel Hl Univety of North Gary M. Wabon. Siping, Martine Tre and the aoe Delopmet of lol Neth Ania, Cane: Cane Sul Wana, “Te Beonomy of Early Wein, Gry ‘America: The Revluionary Period, Cerege Instn of Washington Kaland Beard A History of Amgrian Ezoomie The Grom of the American ed. Bngewood Cif, NY: Pence LW. Bene Hin ofthe Unitek of Souter History 31867 8-483, ‘States Ne Yok McGraw il 194 GROWTH AND CHANGE IN THE COLONIAL ECONOMY ‘The many loa and rego economic tht competed the lel eonery were alvat inane offs Because the elo bes italy tee sand because war an ote ter dsutbances wee eqn i partly wai weal sured Sues: ay) 4 ot woxdonag nd acy e e ps spd ow mg uS9seoREA PL Sedan perl paso a Ape han burp sou tes “sa 234) sd ome wo uoREAE =e IE pa Ses snug wy yg ad ay 20901, ‘Aausongod uy sump yo spo 0 uouane seponzed aus fa 24 0p paso aad 29 sme de aon _ponon sans ude bd ps sadoad 0009 aR oor sda pov myo se suo> aq ot A uoUeS Sls, ainyinouBy ul eBueyg AyAnanpolg sa 29 Spersizpun no sap Squoynas pawns soa coo Sms yo poly on 54) 52 Op IT 29 pan jo sno esp yey pe sed une ne uray DALE 9 pte: Fog on We 79 are, idl wd Fazer set tht in thc farmer showed de advance fay mpeorerent ha en sonaly stable and unfor type of mi ‘supercil wekng ofthe lan (Lemon onng ter wo use the so end eter orgeied and more nde tad tome to ie in ritual producti. ‘hese finding and condusons come 2s no cups when examined in th sgseral detlopments in inter pid. Foe estan, investigations by Rober al 71961 won 20005 ory spn dis sey rsaunou yer BU 86g 0 pee Len aon Bu ‘ge por oi gona nae pir ponte fon aba pa A ard apo agp ean a Buoy dnp fo szun05 1 pein ecm tie pope Se nae aaron own w poo Pe woe 3, {digg ose yo 9 wan 9: Bopsid ama pt 2p Fua ‘RAEATD Su awan trae elago nape eae nee esol op 00.5 a hy neo ow mw LD mn pH “omy Ane 3 ue eas Kn Beep se sq aq 1 pays sannroeee 2a; sod orn po gay oy nag a “ams nso Be “step soapy og poping su ‘og 22 pps eas, Soop go =a waa ey 30 wed i apa so wags stp pu wpendsea eee ymca (paz aan se pag sont vrdson pon gone "ped pur nop ai 2 zap ge ALL {a pet te the co x a-176 ure 5.2 ‘rege Te this ps nthe ery oon wesc fo tas The Altering the mea | ed olenghen the tension pet ‘hed, but ren when mney vat se pres wee aot ‘THE HORSE AND INSTITUTIONAL (CHANGE IN INDIAN CULTURE Le an vention, the sorta ifn ofthe ere 1601 to 170, fs inte in the New Wor by th Spanish ne sen cerry, i send rig mi of ‘ato a commu exten ps ade power tue ge and eriogatens of bes eed the meet ph sold soak ado Sure ant ied enon en ve lan ae) tem not wid gg tp alin pre nd wat tone oko pater npr ing end bang bl, ery ng et tle on ‘On fot and wth dogs god dy’ oun as tad congo ee Aen md aca 198 hbo), ils exchange (wi varying degrees of) were arden problem of allasing cegot ended port ims epecialy when ibe ntti TECHNOLOGICAL CHANGE AND PRODUCTIVITY Among the most power englnes of moder econrsie growin have ben technlogi the intern myo i pn i oly oe pe ea jot rts he be rouse sen gppomiog andy rng 0S Pat 2 re ep a ERY ET 4. aN Sipe cc wh YO VEL a aN a a 8 OL lg, wmvlo 29 pin pee ous ‘qa ro, nn we Ge yp HL ao ys sel ao ey ne od ‘any Kos Seo asa a! bua? ap doe py a ses np ay Fayed su yo Sdn wane Ae UA ENEIen) 9 rn yor seang ge il Caden (Pat The ola ee err ouage of veel sacked on the hgh sea, ated wi the cro, ore and con- ‘verted othe rfc was ofthe et may rodaciry evans in chipping during the coal pid sented fom instil changes atc of, namely () economies of wale ig hich eld pot ees and 2 bidet techn dif, pe rit he eo pti lowcost coven? SPECULATIONS ON EARLY GROWTH RATES based on probated wea oligs of decesed cli, lo pr lar gro ets towghout the pera fom pit wealth nid land, buldngs physical ‘ets ove, and, fen, sas ej el ar ene per pn, ii dee 2a pn escent BERT nop mp abd ie con af sn SPURT au wouended po eu oF 390 ‘eg ema ey of BONN 2H 29 9 VO FMA ars 2 pr i 5 EE mp osc oo de yu ue) 098 vp “ropa os Bal wo A OL ope en wn FURS UNE EY ‘= op Son ao aL TE a way pa ort 29 dps ed nd “pam HEF aos SL Hes 29 ound sy ed pin po (EID 8 cope pv ap |g owe Hoppe) el oreo SALES IL pa 35 en =H HY pranayama fla EP es ens 9 oy ge, ‘PLL "BLY. AWNOONT Vals WE Pes uscrniamoncas FN] en pn sey we ae HITVAM CNY AWOONI AO NOLLNGNLLSIC FHL Lit “AWOONI GNV HLIVIM VLIdVO Wad (a 30 pn sc a> ea pe wo mf nd £97 at ol Spe os em ed 5 RAL a pox pi pee bey J og he Cli Bo 776 ope: es Pages Wet 9 Probate of the fe population posed few ast (coring lo ett ods and tx ral) but 1774: ESTATE Sizes OF FREE WEALTH HOLDERS Young emerging ton var wing sad abe to overcome. ee REFERENCES AND SUGGESTED READINGS Sue ei os triage, ode, (Go: Westview, 198. Andeson, Tey, and Rober Paul Thomas. “White Population, Labor Fre, and Extensive Growth of i th Node Une Stat, 1620-185, Washing the New England Economy in the Seventh tog, D.C: Cunailastition of Washing, 128 ‘ile 7 Samar mls ee dew wom Gis WOE SOT ace et ad dw ony ond Win vo nd he cig ono PH eg KOITOd TVINOTOD G10 FHL vszaeg gen 220} mop fo kwon ayy yosay pur saslig sary, 9 REmeha ry) sti aye po wey 0809 1 prep por couse pon eng ames app oq supe pe somes mane 4" ENS “o~G att we LIE 6 S94 at 1h Cli. cr evel Ep helt hi ie wel ee ein, ‘it could be reworded and resubmitted. we a "hr Be erin yin eo Inde gown sy-nte no-rsale Ste Te af ee eam dr Si nt ae ce per th Pre (ganted. For example th requirement tha Shipring and, handing costs that the roduc desi its superior ually, priced ot of southern European mares Consent, lave pasted inthe 17205 loved re tobe shipped ciety to ports sah of Cae Fier pemetory in Spain Engh ports wer ls onerous than we might iil sp cae the Americans and the agi sued gee et f tle ad an specie to ship certain tere on the et cect fom fone exleny to fans eset suples. Fl, the eve cold be ered through smug with the exception of males, sich evon was probably neither ‘moe no ess common inthe colonies than i wa in Europe daring He seventeenth and gent cent, With sev al imparts, the effect of the Navigation Act was Wo drt. jens materi Dows of ade. The ac that pode Bad "Beste oad se led el sate ah en angel ote Te Ce Rl 98 to be funded through nglnd aed to cate and vsti trae tothe clits. ‘Agi, however, tain tis would have mide Americas the best cases of [th merchants anyway. Furthermore, arbi cas were relieved by providing det shipment of cmmodies such salt and wine to Ame rom ports sath of Cape Fister, pated spc advantages oe ther Eurepnn shld restos alo be pce en con calosiecempuatve advange in production lay rewheningy ‘tbe reste itemive proce fom the sess and frets. Note ret ta ane pred be protect Bich West Unda balding, acres imped high dts om foreign re Sealy Pec) sg mo um npr Eg ne The ve spp ic 9 a5 6) me a Leas LO Ne 4 noc) soe Uy so soa gon 2 salag a a 05H 189 ye 00 Apepoadde jac 6 sng oma peed TOUR, "AE 3H, teow dg 0} genus coyose3 um sou az S29 sbxy N09 OSD 8h PR “ts oe) ees 3 px 2PrqD pe sue =) Po 2p a AB sad sm go po ean og “Spog apa os eps a oI pa Oe 21am 1 poe 0 2 Bog LLM og Bonar peabas e g m spur sta 250 pos Ad sen puny apo 29, on aod gafeg $039 posed pay spe wedong wo samp Jon 9) Jo ou pours ny zaptepxdes ‘ed am pooumpun pep 220 a wonnoay Ue E=UNY 90 FIM I, SISIMO LSd AHL ONY XOIIOd TVINOTOD MAN FHL woot ar 2 pos pu oda 0 app sq wee ag ude Fo Per uy py uno 2g) 2p a ea Of dong Suuoeny >euovog) ruaneRs: ape (aw go 2 Hop}, 1} wopRD 99 Bg 2g. amp Peg 98 OF a 9B Jo wENEAED DA 29 ape sea vod Dy KAOH, soinpe oy duaye ss , ts pay penn an a le 3 scree re aL 96 6 Fa The Cb 1-16 ices impose cost), In Boglih mers were so sary aft rmarded the repel ofthe Stamp Act. Thay fad become a irertnt tess wee «source fr «fl economic wesponthe boat MORE CHANGES AND THE SECOND CRISIS conse haf re and pow fo adie cours i Hall, Boo, Pils kph, and Charleston to ry smuggling ase. Wl angle ake (eonomie Reason ids byte 1963, Amen imports had Gained to phaps one tied oftheir moral Jel The Tes mh Cheney Ua, ekg bteg ed np ae ie lt ple 6 Te is et 8 ‘ele offs Engl ss inte colores exceeded 6 milion in 1768 and 1769 com ined, and once asin, English merchants exered peso cha the seconde, Ptameat appeared to acquxce to clon denand. reached i 17, THE THIRD CRISIS AND REBELLION aro oom songs une yeaa mone palossp ann way JO Sep eras aye Avo 3 sn 25; uaop nd soo) pa uaguon aq. agen Beh 8 “es pars fumory 29 un FEARS DY 21 “nee ono 2 0 Ad PERLE? CRONE episAnunog ay uy woddng (os oat 18a) 5m so rm a neg ED RU YD ong min pn sng pe PAN sy jee a Jo no paviue 29 > SORRY ‘L "Sougen a) toda ped ng pe Lane Bp WW -waig ap at pens spl sng 08 ET > AY “+ fo ao IIE acopRaue ny pone ta, 9 HO ich nd would pss into pit trace wee ob ld tpl scion 1 longer tbe fe ineead, Bh enbaro on wevard move tural areas weld eet in wo Ways ude’ ey o, vexade pn 26pm pos oad a ype agg sae pe SING IK PD ‘oq 39604 | ‘oe anu ap UAH PUD fe JO RDM | Kye oF pHANOL secs 99 poe dy Asap ou jo suxpng KN STUN, ro 9 pi pou ps 2 pane soy a, a pu a og apn ces 3 38 fo ov ds 2 pw St Ot wa ay soem URE spina or wu OE pores ue ID sp pide Ko a sea my wary 29 1 Ba! 2 any pong on pred pan‘ Loin) a poed wou Lt “eno gro pend pepo sop oh URS pale HT 29 dps pom ‘sapng jo spun 2 1g pau spy usc, Plas 4a, upee pouonyy sua aro0 pam, uM 9 4 ieeppns fogod par PPP 9 > wonunz04g (log Bonar 9 pur aU HED HK 7H 2A AYR KU ‘eos pd sense pulp en xo pu oe, {(aomonpoxd yey) jenwanbasucouy 40 “(quar Sunnys aKp) pound tones expan) sce s Lp ao oa soe asp HEN Aoy ur ON OVE, Bey) FUT Ses saw 2 pe ep for ome por eng a sande) > op lg produ 1j woreda cu papnl spoH NELALY poe PEAEE pallu soma wo -29. 99 up suoos ape EPC Ysa aj as wD RES po vb tp apouest 0 edt ed we a EAE ‘egy prs aU suepdep jo smeboroe mE HoR ID JQ iow pogo ou uous aj sqm ou pango ape pH 0 =epEREPE saya po uo oe oy yy Bose pula Ap subs as a 29 mH 2 jo wnsapgc spony jp pur sEHeRlo Sanede> jo YP Sonar a > st a GORNBIN, EBAY aq mY PSR IAWOS pelepisuossy uoneojdxg oqw0U093 (pas par sag wos spies Set yma np et Pon eo “sat og sr o> Ae 2pm ot bu ou andro 2g pans spury put sy wo J>qN TIRD oy sg ung pag po HEN) Pr Ha 8 AE FI cum ee aL Ha YL 105 Yate The Cob = sly boat efor the begin ‘THE SUPPLY AND DEMAND EFFECTS Let Tp tee nie rg ct ln mpd iy et cfr tt beni oe ‘OF THE NAVIGATION ACTS obi inp fon cnn ope Thee fey. Con he aly pi ‘Supply an demand sali cto ate ex et rai econ bk a be Ee Ao te agi ley the burden the cli case by te colonies sbseuety ined indepeaden Navignion Acs. The requeneat tht Bg be sed san “eal burdened the clei a hang en sipping eaas—cont oer and ‘hve tae ht wad have cored ad come ayer the ead 1 In many ways. it appears tat th growing econo matty of he colonise woud 40a have made Ameria ndependeneIeitablInded the qualified o cooperate withthe rhc om tems i oad of ft vations ach ether worl i boning ‘was une to his facto to rnp, ad consul Ameri ‘eof poll unt which might heve ben cantroad by compro, by couion. The stuaion ‘ep re p57) t hse bd were ipoporn. 1 sitrictsieneg 3H) , syle on there Ove howe, he bent oe sg pent’ magic r str warmer ‘me cot ined ah a oy mon ue age ul than T pet fea nae? ae ‘tempted lng, ws to lt, Ur creams, ne el repcting cor cabot ul be iin oid (Harpe 1982, 1) 'e woud appear that the leone the Engh lard fom thee fare with the ‘American neni sred them wel inner perads bate ther Engl ocr seqienly won the independence without widescal Modi. Thi clonal lpacy vat of paramount importance in he enti o fellow. ed th thse ection for moe than «century. of SELECTED REFERENCES AND SUGGESTED READINGS Andevs, Chates “The Ameen Reventon: An Hughes, Jonathan, American Bonomi Hs, ed ‘epetion” Ancicn trial Re 31 "ia mt owl aod eat hs oe Walon (IR ove i ed rere See pope wousWED SAL 8 ap pie poogeee pao, said ps oo a ju por wen 219 Sump“ O98I-92ZI SHALLOAdSUad TWORIOLSIH (NV OINONOOT O98T-9ZZT ‘seq UN[aqa}U pur feuoneN Ajreg ‘Areuornjoaoy ou], Z luvd Hard Realities for a New Nation ‘The Revolutionary War, which began oily on Api 18, 1775, deaged on for ore then si biter year. 7, ney ll Areas (hye 7 Reis New No 8 sh-occupied pot, each a thing in the way of expt. powers tree the new atin with eyed beats Ameren feo poy samen dud etapa ee ef mba tanoe 2p dg 08,0 ues apr wsaxppe 3 purus oy ua ag ay woe sp suo par ewe oqaaine "W7pR| 0} akod vapor Ov pe 29 doy Apypopaad sea (unruly 29 past REMINED 230248 41 ‘aupp a (9-25 B96 MID 9) eoNRDpERUD Jo SPY 29 > FuREELONE cof een oy anod ov sex aq Haoruauc pa Jog eA! 0 asd 29S 2 TERE ow Gey “eH 2 pe, proud nga Spe pe se, me por ange ore Aad stn pag py enya YH “OK W098 ago ey rE so pr psn dod fe enn 9p pin eH far 9 say a Spin Hoyo eet seb ou iaunoy eat nen pat Sen Ke ome) “pays ete 3p sen Sag nes a usm pf gegen gd ua vod bos 3 yo anges pe sins ee vay 2 rs parabo> © wave. Supyps adam eeu fu seh wer BENE, sma 90 2p agp eg a sp sop Se eg Mourn se sey ARE PN ee HL GNY SNVORHIY BAL NOMALILSNOO HL | = ee | | | xt eam ae 1 emma a9 207 way pe OR HP OHOAMIEG ALE HEHE 14 at 2 The Reina, a od Aas 17686), law. It abo gave Congress the authority to et eon patent “To promote prog es of cence and well ars by securing fried ties to author end invents te ‘exch ight to the eeapectie writings and dave thesis of thet om ies and cretons, creative pope would hasten echnical chang. Mi ego wats or tai, The pover to regu aw bea «pr le pti wh eliminate datos on American goods abron, os For the dete atthe Philadphiseoovention (and the individ ae) to vl tary ree Ceewo Rang Pepec ce Wasa aave mer property, or wa sve 2 person slaves in two respec: Fest tnd fore conned a thesis of penon fe the pape of determining nnemberhip ia the Howse of Repesettis, bch wat bated on opal ‘The deter of the conveation focused early onthe questo of ate vers na ‘inl interes and it ws fecporary lip tht powers nat rl government oben tthe sate ware reser Tn esp to lati ‘Supreme Cart, ‘The Contttion aid the foundation of ihe private prope gh we ej tod. cube the airy powers of pvenment and foseed peo secuttyroured for the purl fall vases of produc erhancing atic, Amaingy bie and de, ‘he Consiton he proven dex sine the Bl of Rigs, hough Probably no single egal source CConststion weze deed. And yet in 176, the sae hp Rei en Non 15 Independence rang ts mesge of plea feadom soued the word an of ockng ‘Scot hose profesor mien beled his vat hnowedge of economic afi, fered # clarion ratiorale of economic felom. The Wah of Naor timaly became + lnst-sele, and Adun Smith became aed and fat, Ela eye, it ened the metry a eda rm gnc ht ny song cent government cold provide AMERICAN INDEPENDENCE AND ECONOMIC CHANGE ‘The adoption ofthe Cotation a 1789 and the emexence cenmet didnot have dramatic iment eff, The cri. time wee matched by cha ng economic problems. ra 0 = a aE) or aT : 8 ile 5 m z a SRN wi ‘pepe sak xp po pou woe a 24 J ame a “st goaded an € pur Aponeursls 2 sup dan a ato of, AFONVHO OIWONOOA JO SISKTVNV SALLVLILNVAD V ena yp psedos sod awe ny peo ua 9} pl sad p—apen 2, pod an ae ea padize) Fore 92m SPURS Ts sa Sapte aR YoY TO MOHAN Usps wo Sod pepe Le somone yang jo mye we = aN, SO wR UO aye predate 1 Vet coma a eH PD 2oj open poe py uous ea ORD FH 2 sone eye oj Bary sa er poe go ae URRY ae EY pe oped een 2 pe of rq pao af uy Uap ada "ny es IOI ox ap pe oe pow py pqs SW op vexpury veda 93 ‘foot ou ea sq PRD Sones nd ola eto» a pe poms oes ‘ong Om ARO HN qa muse 2) Saapgun iq om wey oF poppe eS 2 pe apy pp 3 RIE “yee mds pr ey sou pe ams tis woop BF AE tw ou api Joy pun ae ar np 018 Ie] EH on-e4 wmpeype eam an oC mL common langue, sled contacts and ter krowllge of US. mates, Bees ‘Amescan iors were handled by Bric merchant twas fen advantages tows Bitch prs as droping off pois fr US. experts even the devined for the New Hai ink Coat Tie ae TH COLOHIES, 7ee-I772, THOUSANDS OF POUNDS. als] Terk ewe rns eee Tie Sa Nard Vist TiS Te cn Fah Cen Gers 3 Tal a | a England states (cep New Hampshire) fly recovered fom tade dupa WAR, NEUTRALITY, AND ECONOMIC RESURGENCE onpeny soy, Joaades Jepp tog ppsccues zaoy su aed Armoduoy Way (oS £1 PoP bap eum] 25 909 xp apo 1w PP prgem yaa © noadepop 2 ope oR He 2 PH SAL ou sda samy pole pseu oy oe we pe MH ‘vfs aay = 90 at Peed oer fp td a pA on se ppon eon a jou oy gen srgeeyakdo una 29 70 empe pb et pnts vo oa 9 91 toma roage Apoyo ag. ealopop ay go Sos PON oy EID 1 pedopap Ape py ‘axa Sf? A, SAL mn a eu aan 80 PD I OB jo mesons Sdn 2g] 8 wey yp psa sayy po pad sn nod PHP Soa sora 4) 28 eg, “aege2panD PRY 3 _apo ug eu ee ta ns 08 fogs yy a proce 2 sig nu f none fo snd psu 6 151 YN >HS am soe. oon __ settee, Rea ast 8 pate 0) 5, aay seo Sow Aa agp HO “Soe few ssa seg MIS OE aisuanmnn vos ‘yraino 09 30 WHODYH OV rot goto sarod wpodd pagan 3 "aro aed se Bp ssmuo 0 pep 2 Sp GENE FH SINOON TWLOL ONY 3QVULL SYBSUNO er soma ye cD L L L ove a “sab ta 2:TheRtiny, y Man ed an B78 res 107 1401s Soar Nath 1961, 2628

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