History 7th - 7.2

In 1784, the British forced American merchants to pay duties on

American goods sold in Britain

In response to the trade imbalance with Britain in 1784, the United States

began looking for new markets

Inflation

increased prices for goods and services combined with the reduced value of money

Tariffs

taxes on imports and exports

A trade imbalance occurred when America's

Imports from Britain exceeded its exports to Britain

In 1784, lower Mississippi was closed to US shipping by

Spain

Depression

a steep drop in economic activity combined with rising unemployment

When individual states issued too much paper money, the result was

inflation

Interstate Commerce

law regulating trade between the states

Daniel Shay

main leader of a rebellion in MA

creditors

people who lend money

Debtors

people who owe money

Interstate commerce is trade conducted between

two or more states

Shay's Rebellion

uprising of MA farmers to protest high taxes, heavy debt, and farm foreclosures