explain The British mercantile system and its purpose and significant consequences
This will give you lots of information:
http://www.google.com/search?hl=en&ie=ISO-8859-1&q=British+mercantile+system+&btnG=Search
Since this is not my area of expertise, I searched Google under the key words "'British mercantile system'" to get these possible sources:
http://www.answers.com/topic/mercantilism?cat=biz-fin
http://www.americanforeignrelations.com/Im-Ju/Iron-Mining-and-Metallurgy.html
http://www.nrilinks.com/usa/History/ch3_5.htm
http://encarta.msn.com/encyclopedia_1741500823_10/United_States_History.html
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Use <find> for the desired term within these sites.
In the future, you can find the information you desire more quickly, if you use appropriate key words to do your own search.
I hope this helps. Thanks for asking.
The British mercantile system was a set of economic policies employed by Great Britain during the 16th to 18th centuries. Its purpose was to strengthen Britain's economic and military power by controlling and monopolizing trade with its colonies and other nations. The system revolved around the concept of mercantilism, which emphasized building a nation's wealth through a favorable balance of trade, accumulation of precious metals, and establishment of colonies as sources of raw materials.
To understand the British mercantile system and its consequences, it is important to examine its key features:
1. Navigation Acts: The Navigation Acts were a series of laws that regulated colonial trade and required the colonies to use English or colonial ships, and trade goods through English ports. This effectively ensured that the colonies would solely trade with Britain and contribute to its economic growth.
2. Monopoly on key resources: Britain aimed to gain control over valuable resources in its colonies, such as sugar, tobacco, and cotton. It limited the ability of the colonies to produce manufactured goods, instead encouraging them to export raw materials to Britain for subsequent manufacturing.
3. Colonial manufacturing restrictions: The system placed heavy restrictions on manufacturing activities within the colonies, limiting their ability to compete directly with British industries. This forced the colonies to remain dependent on British manufactured goods and pay higher prices.
4. Mercantilist theory: The British mercantile system was based on mercantilist principles, which suggested that a country should export more than it imports, leading to a surplus of wealth. Britain saw its colonies as a source of cheap raw materials and a captive market for its finished goods, which helped maintain a favorable balance of trade.
The consequences of the British mercantile system were significant:
1. Economic exploitation: The system heavily favored British interests and led to the exploitation of the colonies. The colonies were forced to send their raw materials to Britain and buy finished products at higher prices, resulting in economic subjugation.
2. Stifling colonial development: The restrictions on colonial manufacturing hindered the growth of industrialization and technological progress in the colonies. This contributed to the long-term economic underdevelopment of these regions.
3. American resistance: The British mercantile system played a role in sparking resistance and eventually the American Revolution. The colonies resented the economic exploitation and restrictions imposed upon them by Britain, leading to a desire for economic and political independence.
4. Global trade imbalances: The mercantile system contributed to global trade imbalances as Britain sought to maintain a favorable balance of trade at the expense of other nations. This led to tensions and conflicts with other major European powers, notably France.
In summary, the British mercantile system was an economic framework designed to consolidate Britain's economic and military power. While it benefited Britain in the short term, it resulted in the economic exploitation of the colonies, stifled their development, and contributed to tensions that ultimately led to the American Revolution and conflicts with other nations.