what is one characteristic of british mercantilism

June 12, 2009

Posted by charles

( 0 ratings )

Hi 12335,

The main tenets of British Mercantilism can be summed up as...

* That every inch of a country's soil be utilized for agriculture, mining or manufacturing.
* That all raw materials found in a country be used in domestic manufacture, since finished goods have a higher value than raw materials.
* That a large, working population be encouraged.
* That all export of gold and silver be prohibited and all domestic money be kept in circulation.
* That all imports of foreign goods be discouraged as much as possible.
* That where certain imports are indispensable they be obtained at first hand, in exchange for other domestic goods instead of gold and silver.
* That as much as possible, imports be confined to raw materials that can be finished [in the home country].
* That opportunities be constantly sought for selling a country's surplus manufactures to foreigners, so far as necessary, for gold and silver.
* That no importation be allowed if such foods are sufficiently and suitably supplied at home.

There's more over at Wikipedia, though you should only use that as a starting point for research :)

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