Author Bio: Sir William Keith was born in 1699 in Scotland and died in 1749. He served as the lieutenant governor of the colonies of Pennsylvania and Delaware from 1717-1726. He is said to have encouraged a young Benjamin Franklin to create the printing press in Philadelphia, and after William Penn died, he argued with his widow on how run the colony.
Date/Context: Economic Regulation was written in 1740, although there is no pre-reading paragraph to give me further information.
Summary: Keith begins the document by saying that America should do what is in the best interest of the “Mother State” (Great Britain). Without the Mother State, America would not exist. Because the document is titled “Economic Regulation”, I assume that Keith meant financial responsibilities America owed to Great Britain. He says “...we will proceed to consider some of the obvious regulations on the American trade, for rendering the colonies truly serviceable to Great Britain.” He gives four steps on how best to achieve this. The first step is that all American goods have to pass through Britain’s trade routes first so that they get “first dibs”. The second step states that all wool and linen should be bought from Britain only. The third step says that all American exports must be overlooked by Britain before taking them anywhere else. The fourth step states that are not allowed inter-colony trade.
Key Quotation: “Supposing these things to be done, it will evidently follow that the more extensive the trade of the colonies is, the greater will be the advantages accruing to Great Britain therefrom;...” (page 511)
Well done Julianna, you used great examples from the writing. One quote that I may suggest to add is; “Every act of a dependent provincial government therefore ought to terminate in the advantage of the mother state, unto it owes its being and by and whom it is protected in all its protected in all its valuable privileges…”. Besides that I think you put everything in the summary that was needed.
ReplyDeleteThis document represents colonies as indebted to the "mother country." As with "The Efficiency of the Domestic Economy," this document represents mercantilist theory.
ReplyDelete"We will proceed to consider some of the obvious regulations on the American trade, for rendering the colonies truly serviceable to Great Britain."