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The local economy in the Balls and southern colonies was characterized by the headright, the right to receive 50 acres (200,000 m 2) of land for any immigrant who settled in Virginia or paid for the transportation of an immigrant who settled in Virginia (51.342 acres (207,770 m 2) per head).
The Shadow of a Dream: Economic Life and Death in the South Carolina Low Country, 1670-1920 (Oxford University Press, 1989). online; Craven, Wesley Frank. The Southern Colonies in the Seventeenth Century, 1607–1689. (LSU, 1949) online; Edgar, Walter B. ed. The South Carolina Encyclopedia (University of South Carolina Press, 2006) online.
The economy grew every year from 1812 to 1815 despite a large loss of business by East Coast shipping interests. Wartime inflation averaged 4.8% a year. [105] The national economy grew 1812–1815 at the rate of 3.7% a year, after accounting for inflation. Per capita GDP grew at 2.2% a year, after accounting for inflation. [104]
Indian trade in the southern colonies encompassed the regions of the Carolinas, Georgia, and Florida. The slave trade of Native Americans was common among southern colonies and Florida in the 1600s and early 1700s, but especially in the American Southeast. Most people associate Africans with the only people who were enslaved in the Americas ...
In the period following Oliver Cromwell's fall in England, the colony grew and transitioned to a slave economy. It saw the beginnings of industry and urbanization. At the turn of the eighteenth century, King William's War (1689–1697) and Queen Anne's War (1702–1714) brought Maryland into depression again as European demand for tobacco decreased sharply.
By the end of the 17th century, the number of colonists was growing. The economies of the Southern colonies were tied to agriculture. During this time the great plantations were formed by wealthy colonists who saw great opportunity in the new country. Tobacco and cotton were the main cash crops of the areas and were readily accepted by English ...
The Southern colonies in particular relied on cash crops such as tobacco and cotton. South Carolina produced rice and indigo. North Carolina was somewhat less involved in the plantation economy, but because a major producer of naval stores.
A plantation economy is an economy based on agricultural mass production, ... 85 percent of the 235,000 slaves lived in the Southern colonies, Virginia included ...