Britain also needed money to pay for its war debts. The King and Parliament believed they had the right to tax the colonies. They decided to require several kinds of taxes from the colonists to help pay for the French and Indian War. ... They protested, saying that these taxes violated their rights as British citizens.
Even back then, the military needed to pay for uniform, weapons, and also paychecks for your soldiers. And those cost money. When you are engaged in a conflict across the globe and at home, it is very hard to spend more than you earn. therefore, The French and Indian War in America, and The Seven Years War in Europe gave Britain a lot of debt.
The views of mercantilism differed from Adam Smith because mercantilism believe of limiting the growth of wealth and Adam smith believes that economic growth should be lead by our own selfish self-interests.
