North American Economy In The 17th Century

Several sects from all over Europe made North America their home throughout the 17th century. Beginning with the southern Chesapeake colonies, the North American regions were assembled by their founding nations. English Puritans and Separatists and Spanish Conquistadores eventually formed settlements in the New World; however, Puritans and Separatists and Spanish Conquistadores differed fundamentally in their original motivation to explore the foreign paradise. After facing prosecution in England, the Puritans and Separatists traveled to the New World’s northeast aiming to establish religiously tolerant settlements, whereas the Spanish explored the “West Indies” with hopes to exploit the Southwest’s piñata of expensive metals and non-Christian
After Spain united under Ferdinand and Isabella and discovered a New World, the Spanish finally had the opportunity to grow their rising empire economically in the “West Indies,” leading to a New World economy focused on quick and substantial material profits rather than a long-term economy. Initially, the loot from the conquered Indian empires rendered phenomenal (and rapid) economic growth (so immense that European currency faced 500 percent inflation); however, once the all precious metals were seized, the ideal profits needed a new agent. The Spanish turned to agriculture since farms could provide cash crops and a conducive area to nurture livestock -both quick profit-turners. To quickly maximize the profits (the reoccurring goal of the Spanish economy) of the farming system, the Spanish landowners turned to the African slave trade. Landowners became booming plantation (hacienda) owners, using slaves to develop cash crops with huge margins (they didn’t have employer expenses). The slaves were often distributed using the Encomienda system, which, besides organizing slave distribution, helped spread Catholicism extensively (the landowners would agree to convert the slave). Although the Spanish had found a quick and booming moneymaker, their exploitation of the vulnerable slaves led to exaggerated propaganda that intentionally demonized Spain’s reputation, known as Black Legend. In contrast, the Puritans and Separatists initially envisioned the New World as their future home with flowing religious toleration; to ensure the permanence of their ideal home, the economy was developed as self-preserving, adequate, and long-term. Although New England’s soil was rocky, some agriculture development occurred on stable and self-preserving family farms; because family farms produce a variety of crops, they