What was Massachusetts Bay Colony's economic policy? Like what did they do to make money.
Most people in this colony were farmers, growing enough food to feed their families and sometimes a little more to sell to neighbors. A few people were merchants who bought and sold the goods needed by the colonists.
http://www.usgennet.org/family/bliss/rehoboth/mahistory.htm
A few skilled tradesmen also contributed to the colony. One of my ancestors in the middle 1600s in Rhode Island was a gunsmith who repaired rifles.
The Massachusetts Bay Colony, established in 1630, had a diverse economy with several key economic policies in place to sustain its growth and generate income.
1. Agriculture: Agriculture played a significant role in the colony's economy. The colonists cultivated various crops, including corn, wheat, barley, and vegetables, which provided food for the settlers and created surplus for trade.
2. Fishing: Given its proximity to the Atlantic Ocean, fishing became a crucial industry in the Massachusetts Bay Colony. The colonists engaged in both coastal and deep-sea fishing, catching fish such as cod, haddock, and mackerel. The abundance of fish allowed for trade and export to other colonies and Europe.
3. Trade and Commerce: The Massachusetts Bay Colony actively engaged in trade and commerce to generate wealth. The colonists conducted trade with other colonies, England, and indigenous peoples. They exported fish, timber, fur, and agricultural products while importing manufactured goods and supplies.
4. Shipbuilding: The colony's access to natural resources such as timber made shipbuilding a thriving industry. Colonists constructed ships that were used for fishing, trading, and transportation between colonies.
5. Manufacturing: While the Massachusetts Bay Colony mainly focused on primary industries like agriculture and fishing, certain manufacturing activities existed. The colonists established some small-scale manufacturing businesses, including ironworks, sawmills, gristmills, and textile mills.
It is important to note that land ownership and trade regulations were strongly influenced by Puritan religious principles. The economic policies of the Massachusetts Bay Colony aimed to support the growth of the colony while adhering to Puritan values.