SETTLING NORTH AMERICA 1497 1732
COLONIES OF FRANCE ENGLAND
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
it is the exchanging of goods without using money
|
|
|
it is the money left over after all costs of a business have been paid
|
|
|
it is the cost of doing business
|
|
|
it is a good coming to the colony
|
Detailed explanation-1: -The Jamestown colonists found a new way to make money for The Virginia Company: tobacco. The demand for tobacco eventually became so great, that the colonists turned to enslaved Africans as a cheap source of labor for their plantations.
Detailed explanation-2: -In 1612, John Rolfe, one of many shipwrecked on Bermuda, helped turn the settlement into a profitable venture. He introduced a new strain of tobacco from seeds he brought from elsewhere. Tobacco became the long awaited cash crop for the Virginia Company, who wanted to make money off their investment in Jamestown.
Detailed explanation-3: -Tobacco formed the basis of the colony’s economy: it was used to purchase the indentured servants and enslaved laborers to cultivate it, to pay local taxes and tithes, and to buy manufactured goods from England.
Detailed explanation-4: -Virginia tobacco was inferior in quality, but it was assessed in England at ten shillings per pound. On the basis of these high prices the Virginia Company of London agreed to allow the Virginia planters three shillings per pound, in trade at the magazine in Jamestown, for the best grades.