The James Journal Jun. 2014 | Page 10

9     The  American  Revolution  and  its   Economic  Roots   Many   Americans   may   think   the   This  law  stated  that  all  commerce  flowing  into   American   Revolution’s   origin   came   from   and  out  of  the  colonies  must  be  transported  in   many   areas,   including   political,   social,   and   a   British   vessel,   which   included   colonial   economical,   but   this   is   not   the   case.   The   vessels.  Laws  were  added  onto  this,  one  stating   American   that   all   foreign   goods   going   to   the   colonies   Revolution’s   origin   was   economical  rather  than  political  or  social.     Mercantilism  was  the  first  major  step   collected.   Some   other   laws   stated   that   some   toward   the   revolution.   It   was   a   theory   that   American  products,  like  tobacco,  could  only  be   wealth   was   power,   and   a   country’s   wealth   shipped  to  Britain.  This  resulted  in  a  currency   was   measured   by   the   amount   of   gold   and   shortage   in   the   colonies.   Colonists   soon   turned   silver   in   its   treasury.   “To   amass   gold   or   to   trading   butter,  nails,  pitch,  and   feathers   for   silver,  a  country   needed  to  export  more   than   everyday   needs.   The   situation,   though,   soon   it   imported.   Possessing   colonies   thus   became   dire,  and   the  colonies   started   to   issue   conferred   distinct   advantages,   since   the   paper   money,   which   quickly   lost   its   value.   colonies   could   both   supply   raw   materials   to   Parliament   soon   prohibited   the   colonies   from   the   mother   country   (thereby   reducing   the   issuing  their  own  money.  Although  these  laws   need   for   foreign   imports)   and   provide   a   were   passed,  they   were  loosely   enforced   until   guaranteed   market   for   exports”   (Kennedy,   1763,   so  it   really   wasn’t  much   of   a   burden   on   Cohen,  Bailey;   pg.   127).   In   1650,   Parliament   the  colonists  until  then.     passed   the   first   law   to   regulate   the     mercantilism   system,   the   Navigation   Law.     must   stop   at   Britain   first,   so   tariffs   could   be   bad   for   the   Americans,   they   reaped   the   Although