Expansion of Global Commercial Activity in 16th and 17th Centuries
This section looks at the expansion of English trade in the 16th and 17th Centuries and transatlantic slave trade. The rise to power of King Henry VII, followed by the success of his son, King Henry VIII, and granddaughter, Queen Elizabeth I, in consolidating England’s independence, had a profound impact on the expansion of English commercial activity across the globe. As the Tudor dynasty solidified England's position as a powerful and autonomous kingdom, the foundations were laid for an era of significant exploration and international trade.
Several key factors contributed to England's expansion and success during the 16th and 17th centuries, marking the country’s increasing involvement in global commerce.
North America and The Virginia Company
In the early 1500s, England faced rising unemployment and low wages, which created social and economic pressures at home. For many, the prospect of emigration to the New World offered economic opportunities. The promise of land and prosperity, particularly through the cultivation of crops such as sugar and tobacco, attracted settlers from Britain.
In 1606, the Virginia Company was established with a Royal Charter, granting it the authority to explore, settle, and develop plantations in North America. English explorers such as Walter Raleigh had already sparked interest among London investors by suggesting that colonies in North America could yield substantial profits. The Virginia Company not only secured an English claim to vast territories in North America but also laid the groundwork for a profitable colonial enterprise. The profits generated from these colonies were reinvested into further exploration and expansion, ensuring England's growing influence in the New World.
Piracy and Plunder
During the late 15th century, Spain began to colonise the Americas, amassing great wealth from the gold and silver mines in South America. The immense riches Spain obtained bolstered its position as one of Europe’s most powerful nations. In response, England sought to diminish Spain’s power by engaging in acts of piracy and supporting privateers—sailors authorised by the monarch to raid Spanish ships and seize their treasures. The profits were shared between the sailors and the crown. However, those who plundered without official sanction or kept the spoils for themselves were considered pirates.
The use of privateers was a strategic means of undermining Spanish dominance while also enriching England. Famous English figures such as Sir Francis Drake became notorious for their raids on Spanish fleets, which contributed to the expansion of English wealth and influence during this period.
The Transatlantic Slave Trade
In the 16th and 17th centuries, England was initially a minor player in comparison to Spain and Portugal, both of whom were profiting immensely from the exploitation of the Americas. Spain gained vast wealth from gold and silver mines in South America, while Portugal focussed on the cultivation of sugar in Brazil and the Caribbean. Both nations relied heavily on enslaved African labour to sustain their plantations, a practice that would soon extend to England’s growing colonies.
In 1562, the English sailor John Hawkins famously captured a Portuguese slave ship off the coast of West Africa, marking England's first involvement in the transatlantic slave trade. Hawkins sold enslaved Africans in the Caribbean, and from this point onward, England's role in the slave trade expanded dramatically. Over time, England built a formidable navy and established a series of colonies in the Caribbean, allowing it to surpass Spain and Portugal in the transportation and sale of enslaved African people.
The profits from the slave trade benefitted many sectors of the British economy. Shipbuilders, bankers, and trading companies all flourished because of the lucrative trade in human lives. Cities such as Bristol and Liverpool grew rapidly due to their pivotal roles in the transatlantic slave trade. The Royal African Company was founded in 1672 to oversee the transportation of enslaved Africans from West Africa to the Caribbean and the Americas, further embedding the trade into England’s economic structure.
The West Indies and Sugar Plantations
The growth of the English slave trade was particularly tied to the development of sugar plantations in the Caribbean, especially on the island of Barbados. Colonised by the English in the mid-17th century, Barbados offered ideal conditions for the cultivation of sugar, a highly profitable commodity. The sugar industry was notoriously labour-intensive, requiring a large workforce to manage the plantations and refine the sugar for export.
As demand for sugar surged in Europe, more and more enslaved Africans were transported to the Caribbean to work on these plantations. By the end of the 17th century, English plantation owners were amassing enormous fortunes from the sugar and tobacco trade. These profits were typically reinvested into further expansion of the plantations and the establishment of new colonies.
In conclusion, the 16th and 17th centuries were transformative for England’s global commercial activities. The establishment of colonies in the Americas, coupled with piracy, the growth of the transatlantic slave trade, and the development of lucrative sugar plantations in the West Indies, ensured that England would play a dominant role in global trade for centuries to come. While these developments brought substantial wealth to England, they were built on the exploitation of both natural resources and human lives, with long-lasting social and economic consequences.
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