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Sophia Ashiqueali Mr. Tavernia AP World History/Period 3 Packet: E [Economic]: (Chartered Companies) Tax farming was the act of collecting taxes and other revenues from the state population. The state gave the right of collecting taxes to private tax farmers who received a small fee in return for the services. Tax farmers made a lot of money because the amount of tax they collected exceeded the amount deposited by the state by two or three fold. Sometimes the tax farmer would be a government worker and would receive a fixed salary from the state. Most tax farmers would be outside parties that worked for the government. Tax farming occurs in precapitalist economies that aren’t doing well and don’t have good communication. General, regional, and special are the three types of tax farming that have developed. General encompasses the entire country and tax system, regional encompasses one city, and special deals with individuals. Tax farming was developed in Greece and Rome during the Middle Ages. Tax farming was widely used in the Ottoman empire during the 16th and 17th centuries. It was also used in the Mughal and Qing empires. Tax farming also became introduced in Russia in the 15th and 16th century. Tax farming in Russia was used to collect liquor revenues. Liquor tax played a bigger role in later centuries and provided forty percent of income in the state budget before it was abolished. Eventually the centralized form of a tax system was favored over the tax farming system. Mikhal Ben-Joseph Mr. Tavernia AP World History Period 3 Paket: E Economic: Coureurs de Bois The Coureurs de Bois were fur traders in north america from the 16-1700s. Their name translates from french to “Carriers of the Woods”. They were mostly of French descent, but often times would be mestizo-like mixes of french and amerindian ancestry. They were forest going people who would often walk to trade beaver furs for european goods and along the way learned a lot about native culture and traditions. The economic impact of these traders was that the fur trade intensified in europe due to the access to beaver pelts from the new world. This class of people started off as explorers and interpreters, morphed into important traders who provided internal access to New France lands in Canada through their alliance with the Iroquois, and finally, their business became so lucrative that the French government stepped in to collect more money. This is illustrated by Jean Baptiste Colbert’s creation of the license system for fur traders called the Cognes. This significantly improved governmental control over the previously private fur trade. These unique people were skilled at both wilderness survival and business negotiations. Vincent Brando Mr. Tavernia AP World History/Period 3 Packet: E [Creation, Expansion, & Interaction of Economic Systems ]: (Massachusetts Bay Company) During the era of exploration, England was one of the nations leading the helm, and once Europe caught wind of Columbus’s discovery of the New World overseas, England formed the Massachusetts Bay Company, a joint-stock trade company whose main purpose was to colonize much of modern day New England. The territory was designated to be 3 miles north of the Merrimack River to 3 miles south of the Charles River. In order for the company, comprised mainly of Puritans, to run itself independently of the investors and governors back at England, the colonizers took the charter with them. Through bending the charter to better suit their needs, the town became a religious commonwealth and was an overall successful colony. This lack of influence was due not only to the charter, but to the English Civil War, which drew much of England’s attention from the colony. Eventually, however, the Massachusetts Bay Colony merged with other surrounding colonies like Plymouth, Maine, and New Jersey, and the religious laws were repealed. Gabi Coutinho Mr. Tavernia AP World History Period III Packet E Economic: Mercantilism European empires adopted mercantilist policies during the sixteenth, seventeenth, and eighteenth centuries with the discovery of the New World. They had exclusive right to trade with its colonies, had American colonies import European products at higher costs, imported products from the New World at lower costs, and thus accumulated great wealth in the form of precious metals by increasing state power at the expense of other nations. With mercantilism in the Early Modern Era, colonization’s biggest goal was having money flow into the mother country, and Europe’s many tactics cared not for other peoples’ rights. England’s and France’s policies were respectively established in the Navigation Acts and the Exclusif. Governments set up chartered companies that had monopoly over trade in specific areas and shares owned by private investors, which made the companies safer, as profits and debts were shared among them. The Atlantic trade consisted of three legs, including the Middle Passage exporting slaves, who were transported in inhumane and overcrowded conditions to increase profit, from Africa to New World colonies. The Dutch East India Company controlled trade in the Indian Ocean, and the Royal African Company controlled trade between England and West Africa. Governments competed for trade and increased profits through use of military force as well. The increased trade in the Atlantic and commercial expansion gave rise to capitalism. Abraham Garcia AP World History Hour 3 Economic: The Atlantic Circuit The Atlantic Circuit was a series of sea trade routes that connected Europe, Africa, and the Americas, North and South America. The Atlantic circuit ran clockwise and followed the Ocean and wind currents of the Atlantic Ocean. The Atlantic Circuit started off in Europe, then went to Africa, followed by the Americas, and finished in Europe where the process would start over again. The ships sailing the Atlantic Circuit would sail in this order because the travel patterns of the Atlantic made any other direction of travel difficult. Ships traveling from Europe would first bring processed goods to Africa such as cotton and guns. These goods were traded for African goods such as slaves and ivory. The next portion of the Atlantic Circuit brought African slaves to the New World where they were used on plantations to farm cash crops. Finally, plantation goods were taken back to Europe along with any other goods that had been picked up along the way. The Atlantic Circuit was predominantly controlled by Europe, and it would often benefit European nations the most. Luis Garcia Mr. Tavernia Period 3 Packet: E Economic: Encomienda With the exploration of the Americas in the period from 1450 to 1750 emerged a new form of coerced labor, the encomienda system. In Spanish colonies, colonists were granted authority over groups of Amerindians that were exploited for cheap agricultural labor and periodic payment. The Spanish participating in encomienda systems benefitted from the labor of the Amerindians under the pretense that they would be “christianizing” the Amerindian population. Later efforts, such as those by Bartholome w de la Casas, worked to abolish the practice of encomienda. Theme 4: Joint-Stock Companies A joint-stock company is a company whose stock is owned jointly by the shareholders. During the global period joint-stock companies were utilized in the development of a colony. For example, the Virginia Company was a joint-stock company, chartered by King James I in 1606, in order to establish settlements in the New World. Joint-stock companies are often thought of as the forerunners to modern corporations. The process of establishing a joint-stock company in a faraway colony was very risky for The Crown of England. Many wealthy individuals would invest into the liability of establishing the colony, and receive profit based off of the amount of their initial investment. Rishab Jain Mr. Tavernia AP World History/P.3 Packet E [Economic]: Mercantilism Mercantilism was a theory that was practiced in Europe starting in the 16th century. The main idea of mercantilism was to empower the mother country to the fullest potential leaving many the colonies poor and economically abused. The mother country would send people to colonize some land in The New World providing raw materials that they could then sell for a higher cost back to the colony or China. Mercantilism actually motivated colonial expansion as it incentivized many countries to have multiple colonies all for the purpose of wealth and resources. Mercantilism sought to ensure the nation produced as much volume and variety of output as possible, so as to limit its dependence upon foreign suppliers. Mercantilist saw a large population as a way to gain a lot of wealth leading to the development of bigger global markets and armies. Jean-Baptiste Colbert work was the introduction of the idea of mercantilism but many historians believe that mercantilism was common sense economical idea that was implemented by countries naturally. Mercantilism was an economic system in which the motherland got money and resources cheap from the colonies and then sold it for a big profit to other countries. Leah Kapela Mr. Tavernia AP World History/ Period 3 Packet E Economic: Middle Passage The Middle Passage was a section of the triangular trade during the period of 1450-1700 that consisted of the time to travel from Africa to the Americas. This trip would carry slaves captured or kidnapped to the Americas where they were sold as raw materials. The whole voyage would last about six months or longer, depending on the weather conditions. For about 200 years, the Portuguese had a monopoly on the slaves coming from Africa. In order to receive the maximum profit from the middle passage, slaves were crammed into the cargo areas on ships. The cargo areas did not offer a lot of sun, and with so many individuals in a tight area, breathing and disease became an issue. The slaves were in horrible conditions even before they were put to work. Due to these conditions, about fifteen percent of the slaves died before they reached the Americas, making the need to cram more slaves in more important. The death toll would increase of the trip was prolonged by difficult weather conditions. An estimated two million indigenous people to Africa died in the voyage of the middle passage. This does not include the many slaves that would die once they reached the Americas because of different climate, new diseases, or a lack of proper health habits. Abhitya Krishnaraj Mr. Tavernia AP World History Period 3 Packet E Economic: Pirates Piracy is an act of robbery or criminal violence by ship- or boat-borne attackers upon another ship or a coastal area, typically with the goal of stealing cargo and other valuable items or properties. Those who engage in acts of piracy are called pirates. The earliest documented instances of piracy were in the 14th century BC, when the Sea Peoples, a group of ocean raiders, attacked the ships of the Aegean and Mediterranean civilizations. The classic era of piracy in the Caribbean lasted from circa 1650 until the mid-1720s. By 1650, France, England and the United Provinces began to develop their colonial empires. French buccaneers were established on northern Hispaniola as early as 1625, but lived at first mostly as hunters rather than robbers; their transition to full-time piracy was gradual and motivated in part by Spanish efforts to wipe out both the buccaneers and the prey animals on which they depended. The growth of buccaneering on Tortuga was augmented by the English capture of Jamaica from Spain in 1655. The early English governors of Jamaica freely granted letters of marque to Tortuga buccaneers and to their own countrymen, while the growth of Port Royal provided these raiders with a far more profitable and enjoyable place to sell their booty. Sam Marx Mr. Tavernia Ap World Period 3 Packet E Economic- Zheng He Zheng He was a great Chinese explorer and fleet commander. He went on seven major expeditions to explore the world for the Chinese emperor and to establish Chinese trade in new areas. He was born in the Yunnan Province in 1371 and his father and grandfather were Muslim leaders of the Mongol Yuan Dynasty. However, when the Ming Dynasty took over, Chinese soldiers captured Ma He and took him as a slave to one of the Emperor's sons. Ma He served the prince well and rose in the ranks of the servants. Soon he was one of the prince's closest advisors. He earned honor and the prince awarded him by changing his name to Zheng He. Zheng He would sailed non many missions over the rest of his life. He traveled to many far away places, going all the way to the African coast and establishing trade relations with over 25 countries. He brought back all sorts of interesting items including diplomats from various countries to meet with the Chinese Emperor. It is believed that he died during the seventh and final treasure mission. Jacob Mass Mr. Tavernia AP World History/Period 3 Packet E Economic: Potosi Potosi, Bolivia, was one of the most popular silver sources during the globalization period. This city was originally created for mining. However, the Spanish realized that there was much more silver than they could handle, so the forced Amerindians to help mine. Chattel slavery was also used for all of this mining. All of this mining helped Potosi to rise in power, as it was one of the biggest sources of silver, a commodity traded in great volume in the Old World. Over 40,000 tons of silver were mined in and sent away from Potosi during the globalization period. In the mines, mercury was used for the process of mercury amalgamation to even further maximize the results. Potosi was a great source of wealth for Spain, so Spain maintained control of this city as long as possible, until Bolivia declared independence in 1825. Isabel Mitre Mr. Tavernia AP World History/Period 3 Packet E Economic: Trade & Commerce The Atlantic Circuit is more commonly known as the triangular triangle. It is a clockwise network of sea routes. Europe to Africa is the first part of the journey. Manufactured goods from Europe were usually traded for West African gold, timber, and ivory, as well as slaves. The Middle Passage was the second leg. The dreaded Middle Passage was the journey from Africa to the Americas. Millions of slaves were transported along here in horrible conditions, and approximately 10-15% died on this journey. The last part of this journey was when the West African goods were traded for plantation goods from the colonies. Emily Moon Period 3 Mr. Tavernia Economic: Cash Crops Cash crops are crops that are not farmed or made for eating, but rather made only to sell and make a profit. Cash crops include coffee, cotton, and tobacco, and in the time period between 1450-1750, more and more coerced labor would be used in order to maximize profit and minimize production cost. This led to an increase in slave demand and an increase in the amount of farms with slaves working. Slaves were an effective and cheap way to make as much of whatever cash crop farmers grew as they could without having to pay the workers. Ephraim Oyetunji Mr. Tavernia AP World History/ Period 3 Packet: E Economic: Middle Passage The Middle Passage was the leg of the triangular trade that involved the transportation of millions of African slaves across the Atlantic Ocean into the new world. Slaves were used in the new world mostly for agricultural labor so the plantation owners could profit from the cash crops made from free labor. Slave traders packed the ships with as many slaves as possible to make more money per trip. As a result, slave ships were often overcrowded and prone to disease. Many slaves didn’t survive the one to six month voyage to the plantations. Emily Pallack Mr. Tavernia AP World History Period 3 Packet E Economic:Capitalism Capitalism is an economic system where those things that make money, like land, factories, communications, and transportation systems, are owned by private businesses and corporations which trade in a ‘free market’ of competition. This system uses the investment of money, or ‘capital’, to produce profits. It leads to a small upper class of people having the most wealth and the growth of large corporations. This leads to economic inequality between rich and poor, which governments try to reduce by various social schemes, regulations and activities. It is different to the system in the Middle Ages, usually called feudalism, where control of land and the workers who were bonded to that land was the key to making wealth.In other words, capitalism is the system that allows rich people to invest their money in projects and make even more money. It allows anybody who is rich enough to do this. The historian Eric Williams argued that a huge amount of money was made by Europeans from their network of colonies, and their plantations of sugar, cotton and tobacco. This wealth called capital, had to be invested somewhere. It was used to pay for the industrialisation of Europe. So the transatlantic slave trade and plantation wealth were the major causes of the growth of capitalism in Europe. Austin Park Mr. Tavernia AP World History 4 February 2017 Theme 4: New World Crops With the discovery of the New World, there was also the discovery of new crops. One way these new crops were able to transfer to the Old World was through the Columbian Exchange. The trading of crops from the Old World to the New World increased the population for both areas. Also, New World crops such as the potato heavily impacted many places in the Old World. One example of where it was so important was in Ireland. It was very important in adding new nutrients to people’s diets that they did not have before. In the 1840s, the cause of the Great Famine was because there was a potato disease. These newly discovered crops sparked the conversion of domestic slavery to chattel slavery. The demand for these new crops caused people to try to produce a lot of them to trade them with the Old World. Matthew Robbins Tavernia AP World History – Period 3 February 6, 2017 Economic - Joint-Stock Company A joint-stock company is business entity in which shares in the company can be bought and sold by shareholders. The earliest records of joint-stock companies were found in China during the Song Dynasty in the post-Classical Era, but the modern concept of the joint-stock company was seen in France around 1250. One of the more famous and powerful joint-stock companies during the period of colonization was the English East India Company, a Royal Charter granted by Elizabeth I in 1600 that effectively granted a 15-year monopoly on all trade in the East Indies. Soon thereafter, in 1602, the Dutch launched their own joint-stock company, the Dutch East India Company, which became the first “corporation” in intercontinental trade with “locked in” capital and limited liability. The ability of joint-stock companies to spread the risk of ventures among many investors also encouraged the English colonization of North America, greatly contributing to their success. Chey Sirota Period 3 2/6/17 Packet: E Theme 4: Creation, Expansion, and Interaction of Economic Systems This time period saw the major expansion of over water trade systems. Trade expanded to a point where it was the main source of income for some of the prevailing empires and the elites of this time period. After contact with the new world was established, a system was set up that focused on the trade of crops, and other goods from the new world to the old world. This soon became known as the Columbian exchange system that saw the facilitation of trade, food, and goods that followed a triangular passage. Coco Zheng Mr. Tavernia AP World History pd. 3 Packet E Middle Passage chained, women were not. Due to the filthy conditions and malnutrition, diseases spread. About 25 percent died. People from all over Africa with different languages and cultures managed to conspire to overthrow the ship masters. Rebellions were not uncommon onboard. They also committed suicide or refused to eat to avoid enslavement. The Middle Passage was when Africans were transported to the West Indies for slave trade. The 6 to 8 week journey took place in terrible, unclean conditions where there was hardly room to turn around. Some went insane in there. Men and women were placed on different ends of the ship. While men were