European economic growth in the eighteenth century was spurred by the expansion of trade across the Atlantic Ocean. Commercial exchange in the Atlantic is often referred to as the triangle trade, designating a three-way transport of goods: European commodities to Africa; enslaved Africans to the colonies; and colonial goods back to Europe. This model highlights some of the most important flows of trade but significantly oversimplifies the picture. For example, a brisk intercolonial trade existed, with the Caribbean slave colonies importing food from other American colonies in exchange for sugar and slaves (Map 19.2).

Moreover, the Atlantic economy was inextricably linked to trade with the Indian and Pacific Oceans. The rising economic and political power of Europeans in the eighteenth century thus drew on the connections they established between the long-standing Asian and Atlantic trade worlds.

Over the course of the eighteenth century the economies of European nations bordering the Atlantic Ocean relied more and more on colonial exports. In England sales to the mainland colonies of North America and the West Indian sugar islands soared from £500,000 to £4 million (Figure 19.1). Exports to England’s colonies in Ireland and India also rose substantially from 1700 to 1800.

At the core of this Atlantic world was the misery and profit of the Atlantic slave trade (see “The Transatlantic Slave Trade” in Chapter 20). The brutal practice intensified dramatically after 1700 and especially after 1750 with the growth of trade and demand for slave-produced goods. English dominance of the slave trade provided another source of large profits to the home country.

The French also profited enormously from colonial trade in the eighteenth century, even after losing their vast North American territories to England in 1763. The Caribbean colonies of Saint-Domingue (modern-day Haiti), Martinique, and Guadeloupe provided immense fortunes from slave-based plantation agriculture. The wealth generated from colonial trade fostered the confidence of the merchant classes in Nantes, Bordeaux, and other large cities, and merchants soon joined other elite groups clamoring for more political power.

The third major player in the Atlantic economy, Spain, also saw its colonial fortunes improve during the eighteenth century. Its mercantilist goals were boosted by a recovery in silver production. Spanish territory in North America expanded significantly in the second half of the eighteenth century. At the close of the Seven Years’ War (1756–1763) (see “The Seven Years’ War” in Chapter 22), Spain gained Louisiana from the French, and its influence extended westward all the way to northern California through the efforts of Spanish missionaries and ranchers.