Trade

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  • Trade
    • Britain did not just supply goods to American colonies. It provided financial help, such as insurance and loans to colonists and gave subsidies to help colonies who farmed certain products, like indigo
      • This benefited British businesses as well as colonists
    • The 1733 Molasses Act placed very high taxes on molasses imported from non British places.
      • This increased trade b/ween British America and the West Indies, and therefore increased taxes paid to Britain
    • Britain's strict control over its colonies' trade affected what was grown or made in British America
      • However, this was to a limited extent as only 10% grown there was sold abroad
    • In 1700s, tea increasingly replaced coffee forming 10% of imports.
    • Importance of Tobacco and rice
      • There was high demand for tobacco in Britain and other colonies which led to a huge increase in tobacco farming
        • Made up 45% of exports from colonies . Made high profits due to slave labor.
      • The Impact of Tobacco and rice
        • Both crops were very labor intensive, which led to a massive influx of slaves brought in
        • High profits meant land was very expensive- only the rich could afford it. This was resented by poorer planters
        • Was increasing hard for servants and other workers to find work as slaves were used instead
        • Poor planters, servants were forced to move North as population became saturated with wealthy plantation owners

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