Worlds Turned Upside Down Episode 8: The Trade
Jun 8, 2024
Join Emma Hart, a historian focused on early American marketplaces, Ann Smart Martin, an expert in material culture, Hannah Knox Tucker, a maritime commerce historian, and Hannah Farber, who specializes in financial history. They dive into the complexities of 18th-century trade, exploring the tension between public good and profit while outlining the critical role of marine insurance. The discussion reveals how enslaved labor supported lucrative exports and how women navigated the commerce landscape, making significant contributions behind the scenes.
AI Snips
Chapters
Books
Transcript
Episode notes
Navigation Acts Centralized Trade
- The Navigation Acts legally bound colonial trade to British ships, crews, and ports to centralize commercial benefits in Britain.
- These laws required certain colonial commodities to pass through England and be inspected and taxed first.
Mercantilism's Extractive Logic
- The imperial economy was extractive: colonies produced raw materials cheaply for British manufacturers to finish and resell.
- Mercantilism aimed to concentrate wealth in Britain while making colonies dependent markets.
Credit Kept Trade Moving
- Credit, not cash, dominated Atlantic commerce because specie was scarce and inconvenient to use.
- Merchants, planters, and shopkeepers relied on ledger entries and deferred payments to keep trade flowing.
