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Economics of Tobacco - 0 views

historyisfun.org/Economics-of-Tobacco.htm

tobacco Research Jamestown introducing history

shared by isabelgrniet on 21 Oct 13 - No Cached
  • After finding no precious metals and failing at such endeavors as glassmaking and silk production, John Rolfe finally succeeded by growing a sweet variety of tobacco which was all the rage in England
  • This meant land became a very important resource since a great deal of land was required to grow tobacco.
  • Because growing tobacco also required a lot of hard work and labor, more people (human resources) were needed to work in the fields.
  • ...14 more annotations...
  • tobacco became a cash crop for the colony. 
  • Once in Virginia, John Rolfe experimented with the planting of tobacco seeds he obtained from somewhere in the Caribbean.
  • He gave some tobacco from his crop to friends, and they agreed that the new leaf was very pleasant and better than the Indian tobacco.
  • He shipped the remainder of his crop to England where it compared favorably with “Spanish” leaf.
  • John Rolfe eventually married her in 1614
  • Pocahontas, daughter of Powhatan
  • Their marriage coincided with a temporary peace with the Indians, allowing the settlers to develop and expand their colony, including planting more tobacco.
  • Tobacco production was the biggest success.  Wood products and the fur trade earned a small profit.  They were disappointed that they found no gold or silver and that industries such as glassmaking, silk making, wine making, and iron making were not successful.
  • They hoped to find gold or silver; provide England with valuable raw materials; establish manufactories that would turn a profit.
  • There was a great demand for tobacco in England.  There was much available land in Virginia, and labor was available from indentured servants and later slaves.
  • Profits, prosperity and ability to purchase luxury goods with the profits of tobacco were positives.  Establishment of slavery was a negative that would affect American society for years to come.
  • English merchants served as the middlemen, acquiring goods from around the world to send to Virginia in exchange for tobacco.
  • What two things were required in order for tobacco growing to become profitable?  Land and labor.
  • John Rolfe left England bound for Jamestown in May 1609
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