The History of the Thirteen Colonies of North America 1497-1763Jeffery, Reginald W. (Reginald Welbury)
History
The History of the Thirteen Colonies of North America 1497-1763
Jeffery, Reginald W. (Reginald Welbury)
United States -- History -- Colonial period, ca. 1600-1775
peas, beans, tobacco, potashes and wax; while from Germantown in
particular there was paper, glass, and coarse cloth. New York carried on
a small linen and woollen manufacture, but the chief industry, until
checked by the policy of Andros, was tanning. After the revolution New
York was famous for its fur trade, particularly that in beaver. Busy as
most of the settlers were, yet almost every necessary of life was
brought from England, including such common articles as wooden bowls. In
a list of the imports of Pennsylvania at the end of the seventeenth
century we find rum, sugar, molasses, silver, salt, wine, linen,
household goods, and negroes. In 1733, to the annoyance of the
colonists, a heavy duty was imposed on all molasses imported from
foreign countries. Tobacco, at the same time, was not allowed to be
exported to any European ports, save those of Great Britain. This,
however, was easily evaded, for the numerous rivers and private
landing-stages in the southern colonies made effective supervision
impossible.
As in the case of the New England colonies, the main check to commerce
lay in the serious want of money. The steady influx of coin was
prevented by the lack of retail trade, and also by the fact that the
planter was nearly always in debt to the merchant. In Virginia and
Maryland the scarcity of specie was overcome by the use of tobacco,
which, "as the staple product of the country, established itself as the
accepted medium of exchange."[232] But even in these colonies a desire
for good money was shown on various occasions. The Virginia Assembly, in
1645, tried to fix the legal value of the Spanish coins which were in
common use, and also proposed a copper coinage of their own. Cecil
Calvert, as a careful proprietor, attempted to assist his Maryland
settlers by establishing a coinage, but nothing came of it. In the
eighteenth century, therefore, most of the southern and middle colonies
fell under the fascinating influence of paper money; New York and
Virginia being the only two to escape this economic evil.
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