1. THE COLONIES AS PART OF THE ENGLISH EMPIRE
I. Spain’s gold and silver not matched by other European empires
II. Alternate method of accumulating gold and silver: mercantilism
1. Definition
2. Aim
3. Three elements
III. Navigation Acts (1660s-1760s) = English mercantilism in action
1. Main features of the system created in 1660s
a. “Enumerated commodities”
b. Use of English ships
c. Ban on direct trade from other European nations
2. Amendments tweaked basic system (1660s-1760s)
a. New enumerated commodities
b. Discouragement of certain products in colonies
c. Encouragement of other products in colonies
3. Enforcement very loose and lax until 1760s
4. Important effect of poor enforcement