The Soviet Union's launch of Sputnik was really a wake up call for the United States. America was still basking in the glory of winning World War ll and thought that they were the best and that no one could beat them. When we realized that the Soviets were ahead of us in the space race, President Kennedy scrambled to catch up (NASA was created). But, no one was really sure about what Sputnik did. Citizens thought that it could tap into radio waves and spy on them or take pictures of what they were doing (It was really just a satellite), but the unknown really scared Americans.
Recognizing how important railroads were for settling the west the government made large what to the railroad compaines
land grants
For a mercantilist economy, the best kind of trade was trade with your own colony.
In a mercantilist system, a country amasses wealth by:
- exporting more than it imports,
- imposing high tariffs and other barriers,
- stocking up on gold and other precious metals,
- protecting domestic industries.
Mercantilism grew in popularity in the 16th and 17th centuries when European powers established colonies outside Europe. By only enabling their colonies to produce raw materials and trade with their mother country, these nations could create manufactured products to sell for profit. The colonies were therefore necessary for wealth creation, and they were banned from representing any competition because they couldn't trade with foreign powers.
Great Britain most benefited from this system in the mid-17th century. For example, with the Navigation Acts, American colonies could only buy products like sugar, tobacco, cotton, and iron from British merchants.
