This brought new crops to europe from Americans and vice versa. This created interest in the new world and resulted in the increase in colonization of the Americas. It introduced new crops, diseases, and animals. This stimulated economic growth in Europe and resulted in improved technologies and increase in migration and population.
Apr 23, 1492
The beginning of a relationship between the Old and the new. Products, ideas, and people were transfered across the Atlantic. It signifies the start of economic and trade patterns between the two worlds.
Jan 1, 1512
Encomienda system Period 1
This system was created by the spaniards to control the native Indians. It seperated the population into casts and your rank determined your place in society. Conquistadors received land grants and used it to exploit and enslave the natives for labor, agriculture, and agriculture. This marked the beginning of an agriculture based economy in the new world and the beginnig of trading and manufacturing. It later leads to a need for a bigger workforce.
The first permanent english settlement in North America. Founded by John Smith, the colony did not flourish the first few years it was founded. Starvation and disease made life difficult but through Smith's leadership, the colony bounced back and grew many new crops such as tobacco that helped save the failing colony. The significance of the success of Jamestown is that it created a need for a larger labor force and it marked the beginnig of major trade between the new and old world.
Joint Stock Company 2
This practiced reduced risk in companies while improving profits. It was practiced early in the Americas to provide a way for wealthy Englishmen to invest money in the new colonies and help the companies in thenew world. It made business easier and more profitable.
Beginning of slavery 2
Slaves were brought from Africa to help in the cultivation of croips like cotton and tobacco in the new british colonies. It marked thebeginning of a big commerce and labor system in the new world.
Atlantic Slave Trade 2
The Atlantic Slave trade marked the beginning of the forced migration of african slaves to the new world. They were used as a driving labor force for the growing agriculltural economy in the Americas. It signifies the beginning of mass trade and commerce between the two worlds.
This practice imposed on the newly formed colonies by britain limited tradew and forced the colonies to only trade with britain. This insured Britain profited from everything coming out of the colonies. It signifies how economy was controled by Britain and would later serve as a reason for colonist reason for independence.
Indentured Servitude 2
This was a practice that saw poor whites providind labor for agriculture or trade. It was common in the Chesapeake regionand was very common before slaves. It was the driving labor force before slaves.
French and Indian War 3
The french and Indian war was a conflict between Britainand the french over the ohio river valley. The area offered many economic opportunities and a trade route that would benefit the countries. Britain won the war but ended up in debt and its attempt to pay off that debt would result in the revolutionary war.
Sugar Act 3
This act was not popular with the colonist because it was used by Britain to profit from the colonists. It imposed more taxes on more imported goods. Resulted in boycotts and boosted local manufacturing.
Tea Act 3
The Tea Act was implemented by the British parliment to save the East India Company. It allowed for them to sell large quantities of tea without paying taxes. This event infuriated colonists and led to the boston tea party.
slave trade halted
It wasa halted as an anti british protest. It affected the economy because colonies heaviliy depended on slave labor to fuel agriculture economy.
Bank of The US 3
Proposed by Alexander Hamilton, the BUS was created to handle war time debts and taxes and to create a standard form of currency. It made trade easier in the country and offered a more standarized currency.
Jay's Treaty 3
The treaty prevented a war between Britain and the US. The british were kidnapping US sailors and interferring with trade in the Atlantic Ocean, this treaty was signed by the British to stop their act and let commerce resume peacefully.
The Market Revolution 4
Marked the expansion of the market place and invention of new technologies. It saw construction of roads and canals. It improved the economy and was known as the "era of good feelings"
Louisiana Purchase 4
The louisiana purchase more than doubled the size of America. It added more land and resources to the nation. More resources meant more land for agriculture, expansion, and economic activity.
Abolition of the Slave trade 4
The complete abolishion of slaves being traded. It's intentions were to eventully end slavery itself.
This policy closed off the western hemisphere from Europe and left it to the united states to exploit and colonize. This act profited the united states and left it to profit economicaly from the other nations.
Panic of 1837 4
Economic policies by Andrew Jackson caused banks to fail. This led to inflation and large unemployment. This caused widespread economic downturn and was a bad time.
Marked the beginning of large suburban housing. It was due to the sprawling population and the increase in population. The economy was in great shape, many were moving to suburbs because there was no longer a need to live in the city. People received more wages and could consume more.
Manufacturing Economy 5
The north had an expanding economy that was more focused towards manufacturing, technologies, and free labor. The south however was still reliant of slave labor because of their agrticultural economy.
Sharecropping was used as a way to keep former slaves on the land. It provided housing and land for labor. It provided labor for the agriculture economy in the south even though slavery has been abolished.
Tenant Farming 5
tenant farming was similar to sharecroppig. it was a way to keep the slave labor force in the south and on farms. They provided labor as free laborers but were not paid enough or had to pay fees.
Civil War 5
The civil war was the boiling point betwen the north and the south and the debate over slavery. The north was more industrialized than the south and supported free labor but the southern economy was dependent on slave labor. This affected the south economy because they lost and the south was destroyed.
Plan by the north to reintegrade the south into the union. It started to rebuild thesouth and make it more developed. It was an economic upturn for the south.
Purchase of Alaska 6
The land was purchased from Russia for 7 million. It was though to be a waste. It was know as "Seward’s Follly" but later it was realised that it had great economic potential and contained a vast amount of natural resources.
Transcontinental Railroad 6
The railroad connected the nation and was a huge task financially and physically. It provided jobs for the immigrants to the united states and cut down on travel time.
Standard Oil Company 6
John Rockefeller's company that controlled 95% of us oil refineries. It signifies the monopolies and trusts of the gilded age.
Gilded Age 6
The age of new technologies and improvements but also of social problems and large monopolies and trusts. It was marked by economic corruption from large companies.
Sherman Antitrust Act 6
It forbade trusts and monopolies. It was an attempt by congress to regulate large corporations for the public good. It marked the start of government regulation over large companies.
Annexation of Philippines, Puerto Rico, and Guam 7
After the Spanish-American war and the treaty of Paris, Spain ceded from cuba and the philippines. America took over and thanks to the Monroe doctrine and the Roosevelt Corollary, no other European nations could interfere. US exploited the land and profited from natural resources that improved their economy.
Sixteenth Amendment 7
Allowed the government to lay and collect on taxes. This was significant because it provided the government with funds to keepan army and build roads and improve infrastructure.
Major industry changes by Ford 7
Henry Ford and his assembly line improved work wages and boosted the economy. People had mroe money to consume and drive the economy. People made more and spent more.
Federal Trade Commission Act 6
President Woodrow Wilson enacted these laws to prevent illegal business and economic activities. It prohibited unfair competition and protected farmers and unions. It signifies the government being more strict and more severe towards large companies and less corrupt.
Great Depression 7
Hardest and longest economic dowtrun in american history. Occured shortly after the stock market crash of 1929 and resulted in massive unemployement, panic, and hardship. The New Deal by FDR helped lift the nation out of depression.
Fair DEAL 8
proposed by Harry Truman, these were an extrensioin of the new deal. It called for higher wages, housing, and full employement. It was a response to the shifting lifestyle and it affected the economy.
Era of good economic activity. More wages meant more consuming. More people lived in suburbs and called for a need of housing. Created a suburban mass produced housing for increasing population shift.
Montgomery bus boycott 8
The bus boycotts was a peaceful protest during the civil rights movement. It was to protest segregation on buses and african americans refused to use public transportations and used carpools instead, This act affected the montgomery economy and made the desegragation of buses possible.
Life in the 50s and 60s 8
During the post-war years, average income grew. The economy flourished. Consumerism grew but so did the gap between the rich and the poor. America experience an age of economic prosperity and the growth of the middle class.
cut federal spending on domestic programs and cut taxes for the wealthy and corporations. he thought this would help create new jobs.
Economic Recovery Tax Act 9
ithis mplemented tax cut for individuals, reduced the maximum income tax rate, lowered capital gains and estate taxes, and expanded individual retirement accounts. created jobs and stimulated the economy
Stock market crash 9
known as black monday. stock market crashed. lowered economy.
North American Free Trade Agreement 9
President clinton eliminated trade barriers and betweennn canadad and mexico. Created the largest free trade zone in the world. improving economy and facilitating trade.
Welfare reform 9
instituted major reforms for welfare. it required work for relief. improved economy.
Bush tax cuts
President Bush signed the Economic Growth and Tax Relief Reconciliation Act. it lowered tax rates and implemented tax refund payments. It improved economic growth. offers job growth with second tax cuts.