Mercantilism is the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism. Mercantilism was a popular economic philosophy in the 17th and 18th centuries. In this system, the British colonies were moneymakers for the mother country. The British put restrictions on how their colonies spent their money so that they could control their economies.
In the "Great Compromise", every state was given equal representation, and was previously named the New Jersey Plan.
Hamilton's great aim was more efficient organization, whereas Jefferson once said "I am not a friend to a very energetic government." Hamilton feared anarchy and thought in terms of order; Jefferson feared tyranny and thought in terms of freedom.
The French and Indian War contributed to the outbreak of the American Revolution because Great Britain raised taxes on the colonies, which led to widespread protests and boycotts of British goods.
Mercantilism is the belief in the idea that a nation's wealth can be increased by the control of trade: expanding exports and limiting imports. In the context of the European colonization of North America, mercantilism refers to the idea that colonies existed for the benefit of the Mother Country. Mercantilism was a popular economic philosophy in the 17th and 18th centuries. In this system, the British colonies were moneymakers for the mother country. They put limits on what goods the colonies could produce, whose ships they could use, and most importantly, with whom they could trade. The Great Compromise combined the best attributes of the Virginia and New Jersey plans. The House of Representatives was established based upon population which made the big states happy and the Senate was established by giving all states 2 Senators which made the small states happy. Jefferson believed that America's success lay in its agrarian tradition. While Hamilton distrusted popular will and believed that the federal government should wield considerable power in order steer a successful course, Jefferson placed his trust in the people as governors. The French and Indian War began in 1754 and ended with the Treaty of Paris in 1763. The war provided Great Britain enormous territorial gains in North America, but disputes over subsequent frontier policy and paying the war's expenses led to colonial discontent, and ultimately to the American Revolution.
Rather, the National Association of Realtors expects rates to average 3.1% and the Mortgage Bankers Association says mortgage rates will average 3.3% in 2021. These rate estimates are both up from the 3.0% mortgage rate average in 2020 but lower than 2019 average rates.
