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Colonial America
Financing a Colony
Journal
• So you want to open a Wawa store?? That
sounds like a lot of work, and it will probably
cost you some money. So…
– What are all the things necessary in order to open
a Wawa?
– What are the potential risks of doing this?
– What are the potential rewards of doing this?
– How are you going to pay for this?
Money and Investing
• Colonies are not cheap. Not everyone can afford one.
People would pool their money together to create a
(1)_________________. The pieces of the company
that they owned were called (2)
___________________. The people who risked their
money were called (3)___________. Once they raised
the money, the King would issue a
(4)___________giving the company certain rights.
Those who could afford passage over were given a
(5)____________or land grant. Those who could not
were given passage but had to be an
(6)___________________, working for several years to
pay off their debt.
Key Terms:
Financing a Colony
• Investors:
– People who risked their money for a project.
• Shares of Stock
– Pieces of a company, ownership of a small part of
a company
• Joint Stock Company
– When people would bring their money together to
buy something large
• Virginia Company of London
– The joint stock company that funded the
Jamestown colony
• Virginia Company of Plymouth
– The joint stock company that funded the Pilgrims
(Plymouth Colony)
• Charter
– A list of rules and laws for a colony, must be
approved by the King or Queen
• Headright
– A piece of land given to someone who comes to
America—usually 50-500 acres
• Indentured Servant
– Someone who paid off their debt by working for
the person who paid their passage to America
Money and Investing
Colonies are not cheap. Not everyone can afford one.
People would pool their money together to create a
(1)_________________. The pieces of the company that
they owned were called (2) ___________________. The
people who risked their money were called
(3)___________. Once they raised the money, the King
would issue a (4)___________giving the company certain
rights. Those who could afford passage over were given a
(5)____________or land grant. Those who could not
were given passage but had to be an
(6)___________________, working for several years to
pay off their debt.
Key Trade Terms
• Mercantilism
– The idea that colonies exist for the benefit of the
mother country
• Exports
– Goods being shipped out of (exiting) a country
• Imports
– Goods being shipped into a country
• Navigation Acts
– Passed so that England knew exactly what was
being made and produced in the colonies
• Smuggling
– The illegal importing and exporting of goods
Triangular Trade
• America/Africa/West Indies
Triangular Trade
• America/West Indies/England
The Three colonial regions
1. New England
– New Hampshire, Massachusetts, Connecticut, Rhode
Island
2. Middle
-New York, Pennsylvania, New Jersey, Delaware
3. Southern
-Maryland, Virginia, North Carolina, South Carolina,
Georgia
New England
New Hampshire, Massachusetts, Connecticut, Rhode
Island
• Small farms—subsistence agriculture,
growing only what you need to eat
• Crops, harvesting animals, lumber, fishing
• Colder climate
• Primarily religious in nature, devout
• Created for religious freedom
• A better relationship with the Native
Americans
The types of colonial governments:
• There are three types:
1. Charter
2. Royal
3. Proprietary
Charter Colony
• A colony that is governed by the rules of the
charter
Royal Colony
• A colony governed directly by the King or
Queen (usually a royal governor)
Proprietary Colony
• A colony that is governed by the proprietor
(owner) of the colony
Colonial Norms and Values
• For the following norms and values, answer
these two questions:
• Why do you think this was a custom or value?
• Is this true today? Would it be accepted
today? Why? Why not?
• Unmarried girls over 21 were considered old
maids
• Widows remarried immediately. One widow
served the leftover refreshments from her first
husband’s funeral at her second wedding.
• Women had many children. One
Massachusetts woman had twenty-seven
children.
• Bleeding was a common way to treat illnesses,
and when the doctor was unavailable, a
barber was called in.
• Letter carriers delivering long distance mail
sometimes entertained themselves by reading
the letters they carried.
• Education was mostly for boys.
• Most voting was limited to male property
owners.
• Hogs roamed the streets as garbage collectors.
• Funerals and weddings provided a good
excuse for drinking liquor.
• Colonial women smoked pipes in public.
Where would you live? Would you live in the
New England, Middle, or Southern colonies if
you were a…
•
•
•
•
•
•
Farmer
Slave
Quaker
Carpenter
Mill owner
Clothing manufacturer
•
•
•
•
•
Fisherman
Butcher
Cigarette maker
Pilgrim
Preacher
You Be the Judge….
• After reading each of the following scenarios,
what do you think an appropriate punishment
should be?
• Breaking the Sabbath
– In Puritan life Sundays are set aside as a serious
day of communion between man and his maker—
a day of worship, sacrifice, and prayer. Breaking
the Sabbath is everybody’s business in
Massachusetts Bay Colony.
• Punishment: A 10-shilling fine or five lashes with a
whip.
• Gambling
– In Puritan society, gambling in any form is strictly
forbidden. It is a sinful violation of the law of
honesty and industry. A man’s work, not chance,
should determine his success in life.
• Punishment: Wear “G” on chest, a fine of 20
shillings.
• Theft
– In one of the Bible’s Ten Commandments, stealing
is a condemned.
• Punishment: Branding a “T” (thief) on forehead with
a hot iron, five lashes with a whip, or cutting off one
hand.
• Rebellion Against Parents
– We Puritans have a law which states that if any
child above age 16 curses, smites, or is rebellious
towards his father or mother, or does not obey his
parents command.
• Punishment: If guilty, parent could put him to death.
Minimally, the youth must receive a whipping and
considerable time in the stocks.
• Vulgar Language
– There is no more certain sign that a person’s
moral code has weakened than the use of
profanity. Cursing in oaths, using the Lord’s name
in vain or anger is an abomination.
• Punishment: Five lashes with a whip, pins stuck
through the tongue.
• Drunkenness
– All Puritans, especially the church elders, are
deeply concerned about excessive drinking in our
community taverns and inns. The sin is drinking in
excess, when words are slurred and behavior is
outrageous.
• Punishment: A 10 shilling fine or ten lashes. Time in
stocks until person is sober.
• Gossiping
– A Puritan who spreads malicious rumors does the
community no good. Women especially have a
weakness that results in their talking negatively
about other women and children.
• Punishment: Banishment from the
community, one’s tongue being branded with
a “G” and several dips into the village pond
while she sits on a dunking stool.