When New York was a colony, was its economy good or bad? Why?

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kmj23 | (Level 3) Associate Educator

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As a colony, New York had many prosperous, local industries. In the times of the Native tribes and the Dutch settlers, New York was well-known for its fur trade, especially beaver, which it often exported to other cities across the Atlantic. Under the British, New York was known for its copper, lead and iron and also had a number of coal mines which were concentrated on Long Island. Aside from these, New York was also a center of agriculture with produce coming primarily from large estates dotted across the colony. 

New York also had a very active harbour in New York City, where the Hudson meets the Atlantic, which facilitated trade and commerce. On balance, then, the New York economy was very strong, owing to its wide and diverse industries and goods which it transported across the globe. 

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