Europeans borrowed and developed several tools that allowed them to:

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2 Europeans borrowed and developed several tools that allowed them to: 1. make long sea voyages out of sight of land 2. to know where they are without any landmarks (navigation) astrolabe Predicts location of stars, moon and sun Can be used to determine location by compensation Marine Chronometer A very accurate timepiece that doesn t rely on a pendulum Can be used to determine longitude Compass Used earth s magnetic field Allowed sailors to know which they were going with no landmarks

3 15 th Century The Caravel fast Maneuverable Lanteen sails Square rigged Shallow draft The ultimate ship for 15 th century exploration Could go long distances in open seas 13 th Century 16 th Century

4 Sugar Cinnamon Pepper Cloves Gems Pearls Ivory God Silk Notice: All trade routes to silk to Europe end up at Muslim ports. The Italians buy it at high prices, then sell at higher prices. How could you lower the price?

5 The African Route Safest Slowest Allowed trade in Africa to pay for exploration Gold for salt Ivory Beginnings of slave trade Navigation and exploration Institute (School) Sagres Nationally subsidized (government paid for it) Prince Henry methodical

6 Methodical development of trading posts along the coast of Africa Gold, Ivory and Slaves Bartalomeu Dias, 1488, Cape of Storms Cape of Good Hope Vasco da Gama, India 600% profit So, who got there first, Colombus or da Gama? Why would the Portegeuse be so interested in Brazil In the end, to few to hold the claims

7 The Reconquista ends in 1492 Money and ships become available The sail west route is risky Why? Columbus convinces Ferdinand and Isabella it was only 2000 miles to China Why did he say this, when he knew better?

8 Why would it be easier for Spain to dominate its new lands than it was for Portugal The Columbian Exchange

9 Look at all the elements What is Dali trying to say about the discovery

10 Magellan, , circumnavigates the world Every time we have to unload a ship and carry the goods, the costs go way up. The voyages was so difficult, it made no economic sense to go completely by water Many explorers are looking for an easier all-water route Northwest Passage becomes the next focus Why would Panama become important to Spain Is it important today Cortez, 1519, Mexico Balboa, 1513, Panama, Pacific Ponce de Leon, 1514, Florida Magellan, , World Pizzaro, 1537, Peru

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12 France: fish, furs Dutch: furs English: timber, furs Northwest passage isn t really there But, the effect of looking for it: Colonization of the America s Sir Francis Drake Raided Spanish colonies and ships Ran home the long way, around the world

13 Questions that need answers How much do fleets of ships cost? Do they ever sink? How much does it cost to fill them with trade goods? How long does it take for a voyage to be completed? Why do long voyages cost more money?

14 Capital-money that is used to make money (investments) Overhead, or Costs-ships, men, goods and time required to be used to get the goodies you want to sell Profit=Selling price-costs (ships, men, goods, time) Joint-Stock Company-a group of people (investors) who contribute money (capital) towards ships and men, then split the profits (selling price of goods-costs) The amount, or percentage of the company you own.profits will be divided by that percentage Insurance-the investors set aside a part of the profit each year. As that fund build, it can be used to replace lost ships in the future Lloyds of London is the oldest insurance company in the world Charter-a legal document that a king gives a group of investors (Joint-stock company) that sets up the rules for the king getting his share of the profits In return, the Company can run the land anyway it wants The Virginia Company (Jamestown) and London Company (Pilgrims) were such charters