british debt Essay

Submitted By denise525
Words: 582
Pages: 3
Open Document
British Debt
The seven years war, also known as the French and Indian war, was the first global conflict. This conflict was between Britain and the French. To achieve victory in 1763 the British government had borrowed on enormous amount of money to pay for the war. Because of the war the British were severely in debt. In order to pay back all the money that they borrowed they learned how to make more, and spend less.
The British had to know how to make more money. They created certain acts and events to help the revenue of money. One law was the Townshend duty act. The purpose was to raise revenue in the colonies so they placed taxes on colonial tea, lead, paint, paper, and glass. The money that was earned went towards government cost in America. There was also mercantilism, which helped the government gain wealth by exporting more than importing and placing taxes on the shipment of goods. They also made a market with the raw materials that they received. The sugar act raised revenue from the American colonies. This act placed taxes on sugar and molasses. The sugar act also impacted the price of rum, since it’s made by molasses. The currency act prohibited new paper money to be printed and distributed. This helped the British make more money because it made the colonies pay in gold and silver which are more significant then paper bills. Lastly the stamp act was created to raise the British revenue, because it issued that any public and legal document must have a stamp or British seal on it. The British were able to make more money because they placed a cost on the stamp or seal that everybody had to use. The British were able to increase the revenue on money by taxing the people.
The British also had to know how to spend less of their money. One way they spent less was by issuing the proclamation of 1763. This created a line among the Appalachian Mountains; this line was created to stop expense of further wars. The British also created the tea act of 1773. This act created a monopoly on tea and could only be bought in the East Indie Company, which kept the tea in reach for the British. The Boston
Show More

Related Documents: british debt Essay

French And Indian Essay

relationship between British and the American colonies and those items included politics, economics, and ideology during the war. The French and Indian War, started in May 1756 when England and France declared war on each other, which led to the “Seven Year War”. The French and Indian War would lead to political conflict between British and American colonists because of the taxes that Britain was trying to put on the colonist. American colonists were upset with the British for these taxes causing…

Words 594 - Pages 3

Essay on FINANCE 1

into the consideration is British Airways. British Airways is one of the leading airlines in United Kingdom. It is reaching to over 550 destinations to the best located airports in the world and at the suitable time. It serves half a million passengers every year as per their standards of hospitality adding more and more to their valued customers. The British Airways group consists of British Airways Plc and a number of subsidiary companies including in particular British Airways Holidays Limited…

Words 1532 - Pages 7

Grea Great Britain Dbq Analysis

to the british and signed the treaty of paris 1763 . After the war great britain had all the land right of the mississippi river and part of canada . spain had the all the land right of the mississippi Great Britain were really low in weapons,money and food. they were in lots of debt and were all over the colonist so that they won't claim any more land so the won't have to go to war with spain . how would titer british control led to revolution in colonial america ? well , the british tightened…

Words 675 - Pages 3

Proclamation Of 1763 Analysis

started moving west of the Appalachian Mountains. An Indian tribe attacked and killed a lot of colonists as they moved west. Britain was afraid that if colonists continued moving west the Indians would start another long war, but Britain was in too much debt for another war. The Proclamation of 1763, issued by King George, stated that the land west of the Appalachian Mountains was reserved for the Indians, and the colonists weren’t allowed to go there. Britain even sent soldiers to prevent colonists to…

Words 356 - Pages 2

Boston Tea Dumping Analysis

itself in major debt. The solution to pay for that debt was in the form of taxing many different traded goods for the colonists and Britain. The colonists were not in agreement with any of these taxes and began to rebel and think about their freedom from Britain. One of the main taxes was the taxing of tea which brought about the Boston Tea Dumping. A few men dumped all the tea from British ships and cost Great Britain millions of dollars. Great Britain was already in a long-term debt and this set them…

Words 309 - Pages 2

Compare The Ratio Of Naval Expenditures To Total Defence Spending

percent from 1808-1809, and then roughly 33 percent from 1810-1815. As such, for the majority of the Napoleonic Wars, the ratio was very close to that of the Seven Years War. The difference comes towards the end of the war, when the mobilization of British troops on land started to rise substantially. According to data compiled by…

Words 1885 - Pages 8

British Imperialism In New England

find itself at a state of pace or at least that is what they thought. Britain had an enormous debt to pay and needed money to pay that off. Since the British protected the colonies during the war, they insisted that the colonies pay the debt in a form of tax. Nationalism within the colonies increased for their own country, they realized that they had more in common with each other than with the British. Colonies started to question the power of Great Britain and the acts being passed without the…

Words 884 - Pages 4

How Are The 13 Colonies Inevitable

colonies declaring independence was inevitable; Britain had a debt of millions of pounds, and seeking a way to pay off the debt decided to over tax the 13 colonies. The 13 colonies were deflecting and avoiding the taxations, but in the process of these taxations the 13 colonies started getting furious and ultimately led to declaration of American independence. After Britain’s victory, between the French, Spanish, and American Indians, the British and the French signed a peace treaty. This treaty was called…

Words 894 - Pages 4

Why Do Colonists Need Independence

or objects that are not part of human nature. The British Parliament is completely unjust when it comes to fairly distributing laws to the colonies. They think just because the colonies are from Britain, they have to pay for activities in Britain. The colonists yearned for independence to limit the authority of the British, to limit the governmental money of Britain, and to end wars. One reason for independence was to limit the range of British authority over the colonists. For example, the colonists…

Words 971 - Pages 4

Breaking Point Of The Revolutionary War

Revolutionary War was the French and Indian War. The French and Indian War caused the Proclamation of 1765 which eventually lead to the Revolutionary War. The British wanted to trick the French into thinking that they were on British land.The French knew that they were trying to trick them so they refused to leave. This angered the British, so they sent a small band of 148 soldiers to the Ohio River Valley, by a French camp. They shot of the French until they attacked. The French and Indian War…

Words 345 - Pages 2