During this time the paper money was not backed by anything such as gold or silver. In addition to this the colonies simply printed more money to pay for things which led to an enormous rise in the amount of currency in circulation which led to massive deflation. This massive deflation led the value of currency to plummet during the Revolutionary War.
Answer:
Columbus wanted to find a new route to India, China, Japan and the Spice Islands. If he could reach these lands, he would be able to bring back rich cargoes of silks and spices.
Answer:
The Copernican Revolution was the paradigm shift from the Ptolemaic model of the heavens, which described the cosmos as having Earth stationary at the center of the universe, to the heliocentric model with the Sun at the center of the Solar System.
A lot of people make profit from business transactions. The Entrepreneurs who conducted business in the Port cities of the American colonies were the group in the American colonies benefited the most as a result of this trading system.
- The colonies were set up to meet some roles in a mercantilist system. The role is to provided free raw materials for English manufacturers and a growing market for the consumer goods that they produced.
A lot of entrepreneur especially the white southerners were known to be richest, on average, as they benefited from mercantilism.
Great Britain was known to also enjoyed the greatest benefits of mercantilism. The empire's colonies did supply raw materials and resources to the mother country.
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