As the slave trade became a popular industry for the nation, the demand for ships increased. Consequently, many jobs were created in the shipbuilding industry, which eventually led to a higher demand for sailors. As a result of the large number of jobs that became available, the living standards in Britain improved. With more money coming into the household of British citizens, more people were able to afford small luxuries and were able to treat themselves and their family more often. While Britain saw a growth in the job industry, factories were constructed to provide Britain with access to raw materials.
Slave traders would sail over to Africa and exchange goods for slaves. Robert W. Strayer explains in his book Ways of the World the economic side of slavery from Africa to the slave ships "In exchange for slaves, African sellers sought both European and Indian textiles, cowrie shells, European metal goods, fire-arms and gun powder, tobacco and alcohol, and various decorative items such as beads. Europeans purchased some of these items with silver mined from the Americas. "2 (ways of the world p 691) The slave trade helped the Spanish economy by providing free labor for their cash crops especially sugar and cotton. The slave trade started the triangle trade between Europe, Africa, and the new world.
It was also the only way back then to make good money. The Triangular trade also increased our land populations. It increased our land populations because with all of the natural items they reserved, we now upgraded them. Sugar was a very important trade. It was important because it is used in our daily lives today.
This changed the output of silver, and the worth of goods in commodity trade. Socially the individual trade was dependent on not just payment in anyform, but by the end of the period; solely on the trade and payment of bills in silver. The silver trade changed the economic and social structures in Spain, the Ming empire and in Britain with the english. The period from the 16th to 18th century strongly showed this change of dependence of
There were merchants who, in the eyes of the nobility, were perceived as misers and weren’t liked by the clergy. Many of the times the main merchant traders were the Genoese and Venetians. The merchant was very important and the role of the merchant became even more important and entrenched in society in the wake of the thirteenth and the fourteenth centuries. Merchants sold food, razors, cleaning products, spindles, whetstones, clothing and other household
Another contributing factor was the accumulation of wealth, especially among the merchants involved. Empires and smaller states that directly were benefited from the trade sustained the commerce. . Also with the invention of new technology
One positive effect the trade of tobacco had on Europe was the economic benefits that came with growing tobacco. Europe forbid trade with other countries from the colonies unless granted permission. This allowed Europe to get the crops and resources needed in order to thrive. Tobacco became one of the important crops, because gold was not as big of a resource as they thought it would be. The economic benefits came to Europe from the ability of Europe to tax tobacco sales that were done to Native Americans, as well as the selling of tobacco in Europe itself (Colonial Tobacco).
Socially and economically, the global silver trade from the mid-16th century to the 18th century had a negative effect on the rest of the world. The trade’s earlier benefits did not last long, as it eventually weakened the Spanish kingdoms and Ming dynasty. The dependence on trade and the uneven disbursement of the product lead to the fragility of the economics of those governments that depended on silver. The economic effects can be seen in document 2, 3, 4, and the social effects of the silver trade can be seen in documents 5, 6, 7, and 8. According to the documents, the middle man profited the most from the dependence on silver, while the countries importing and exporting silver suffered massive damages.
For example, when China started using silver as currency, they traded with the British and Dutch. The Dutch would pay with pesos that had been made by African slaves using Incan and Aztec forms of labor. The silver would then eventually find its way to more places. Although, the people at the time didn’t know this, the world was interconnected because of trade, and because of the many places and people involved in trade. Why was trade so pervasive in the Islamic world prior to contact with the Portuguese?
Farmers traded grain, wool, fruit, and firewood. Some merchants shipped goods to England and other colonies and had a lot of money. Religion- The Puritans only believed in Catholic religion. They often thought they were being judged by god and referred only to the bible. Every puritan had to attend to church on Sundays.