Triangular Trade Agreement

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… a base for the flourishing triangular trade of molasses, slaves and rum between Africa, the West Indies and the American colonies. The triangular trade between Europe, West Africa and the New World is probably the best known. After the colonization of the New World by the European powers, Europe experienced a continuous economic boom for reasons obvious from the economist`s point of view. Suddenly, the world was a much bigger place. New and immediately estimated goods, which existed only in the New World, seemed to appear: sugar, tobacco, hemp. European traders could get high prices for selling these products to other Europeans, just as New World traders could get high prices from their customers for products made from Europe. But a direct exchange of these goods, between Europe and the colonizers of the New World, required initial funds. Shipping goods by sea was not cheap. … A consequence of the famous «triangular trade» in industrial products, slaves and raw cottons exploited by Europeans, Africans and Americans – fine cotton has become readily available.

(It is important to note that individual vessels did not necessarily make all three stages of this voyage. Triangular trade was not a means, but a strategy to make trade between distant markets easier and more profitable.) It is likely that there are 1600, no more than a few hundred thousand Africans have been brought to America. However, in the 17th century, the demand for slavery increased sharply due to the increase in sugar plantations in the Caribbean and tobacco plantations in the Chesapeake region of North America. Most slaves were brought to America in the 18th century, when historians estimated that nearly three-fifths of the total volume of the transatlantic slave trade occurred. A classic example is the colonial trade in molasses. Traders purchased raw sugar (often in its liquid form, molasses) from plantations in the Caribbean and shipped it to New England and Europe, where it was sold to rum-producing distilleries. The profits from the sale of sugar were used to buy rum, furs and wood in New England, which traders shipped to Europe. With the profits from the European sale, distributors bought European industrial products, including tools and weapons. Then the traders shipped these products with American sugar and rum to West Africa, where they were exchanged for slaves. The slaves were then brought back to the Caribbean and sold to sugar farmers.

The profits from the sale of slaves in Brazil, the Caribbean islands and the southern United States were then used to buy more sugar and revive the cycle. According to historian Clifford Shipton, the full triangle trip lasted on average one calendar year. [7] A typical shipment of goods from the United Kingdom would be made of pearls, cloth, material, rum, salt or weapons. The show would go to Africa, where the goods would be exchanged for people who were enslaved. 1824 Britain and the United States negotiate a treaty that recognizes the slave trade as piracy and agrees to cooperate in oppressing it. But the U.S. Senate undermined the strength of the treaty in a series of amendments and Britain refused to sign. 1794 France emancipates all slaves from the French colonies. In the United States, Congress passed a law prohibiting the manufacture, assembly, equipment, loading or shipping of ships for the slave trade.

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