Economy of Colonial America
Brief chronology of the initial economic developments of the colonies
Jamestown, Virginia colony was first to show signs of economic growth
Massachusetts Bay colonists buy corn from Indians
Literature generalizations and postulations on economy of colonies
Puritanism may have helped shape the capitalistic society to evolve
The strength of the British Navy altered colonial approach to economic growth
Colonial farmers' efforts were more towards self-sufficiency than wealth
Rate of Economic Growth in colonies
Colonial economy may have multiplied 25 times over a 120-year period of time
Average per capita annual income in 1650 was $572; in 1720 it was $826
Legislation was enacted requiring colonists to manufacture and use resources
In Virginia in 1661 a law passed ordering counties to establish tanneries
"bounties" were given to counties and cities to encourage production
E. Indentured Servitude was a big part of the colonial economy
1) An estimated...
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