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Although I will not write your report, I will provide as much information as possible about New England colonial economy to help you!
The thirteen colonies, including those in New England, were mercantile colonies. This meant that the colonies served as profitable trading partners that could (initially) only trade with the mother country, in this case England. Mercantile colonies had economies founded and based on trade, using the goods and natural resources available in the colony to increase wealth in the mother country.
One thing New England colonies exceeded in was shipbuilding. Unlike it's middle colony and southern colony counterparts, New England did not have the right growing conditions for coveted cash crops like tobacco, indigo, or cotton. New England's primary natural resources/goods were fish and furs. Therefore, New England was the site for other mercantile gains, like shipbuilding and naval outfitting. Shipbuilding helped create a lucrative mercantile economy for New Englanders, which annoyed England. In response, England passed a series of taxes and laws that shifted the balance of wealth back in England's hands, causing New England merchants to look elsewhere for wealth (despite the fact that mercantile colonies were meant to trade other with their mother country).
The New England colonists used their ships to trade with Caribbean colonies. In exchange for bacon, horses, and basic agricultural staples, New Englanders received sugar, molasses, and rum from the plantations in the West Indies. This helped New England grow its economy. Instead of becoming strong agricultural powerhouses, the New England colonies became the home for industry.
When the colonies declared and won independence from England, New England remained a large industrial center where raw materials and goods were manufactured into finished products.
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