“...[N]o goods or commodities whatsoever shall be imported into or exported out of any lands, islands, plantations or territories to his Majesty belonging or in his possession... in Asia, Africa, or America, in any other ship or ships, vessel or vessels whatsoever, but in such as do truly and without fraud belong only to the people of England or Ireland, dominion of Wales or town of Berwick upon Tweed, or are of the built of and belonging to any the said lands, islands, plantations or territories, as the proprietors and right owners thereof...”
— Navigation Act of 1660
Which of the following economic systems was the legislation excerpted above primarily designed to enforce?
- AFree-market capitalism, by encouraging open competition and unrestricted shipping routes for colonial merchants
- BIndustrialization, by promoting the rapid growth of domestic manufacturing and factories in the Chesapeake colonies
- Mercantilism, by ensuring that the British Empire maintained a favorable balance of trade through monopolized colonial marketsAnswer
- DIndentured servitude, by establishing legal codes to regulate contracts for European laborers migrating to New England
Answer
Mercantilism, by ensuring that the British Empire maintained a favorable balance of trade through monopolized colonial markets
The correct answer is correct because the Navigation Act of 1660 was a cornerstone of British mercantilism, an economic system that sought to enrich the mother country by maintaining a favorable balance of trade. By mandating that all colonial trade occur on English or English-colonial ships, England secured a monopoly over raw materials and colonial consumption, preventing rivals like the Dutch from profiting off English colonies.
Step-by-Step Solution
Key Concept
Mercantilism and the Navigation Acts