<P> France imposed its mercantilist philosophy on its colonies in North America, especially New France . It sought to derive the maximum material benefit from the colony, for the homeland, with a minimum of imperial investment in the colony itself . The ideology was embodied in New France through the establishment under Royal Charter of a number of corporate trading monopolies including La Compagnie des Marchands, which operated from 1613 to 1621, and the Compagnie de Montmorency, from that date until 1627 . It was in turn replaced by La Compagnie des Cent - Associés, created in 1627 by King Louis XIII, and the Communauté des habitants in 1643 . These were the first corporations to operate in what is now Canada . </P> <P> In England, mercantilism reached its peak during the Long Parliament government (1640--60). Mercantilist policies were also embraced throughout much of the Tudor and Stuart periods, with Robert Walpole being another major proponent . In Britain, government control over the domestic economy was far less extensive than on the Continent, limited by common law and the steadily increasing power of Parliament . Government - controlled monopolies were common, especially before the English Civil War, but were often controversial . </P> <P> With respect to its colonies, British mercantilism meant that the government and the merchants became partners with the goal of increasing political power and private wealth, to the exclusion of other empires . The government protected its merchants--and kept others out--through trade barriers, regulations, and subsidies to domestic industries in order to maximize exports from and minimize imports to the realm . The government had to fight smuggling, which became a favorite American technique in the 18th century to circumvent the restrictions on trading with the French, Spanish, or Dutch . The goal of mercantilism was to run trade surpluses, so that gold and silver would pour into London . The government took its share through duties and taxes, with the remainder going to merchants in Britain . The government spent much of its revenue on a superb Royal Navy, which not only protected the British colonies but threatened the colonies of the other empires, and sometimes seized them . Thus the British Navy captured New Amsterdam (New York) in 1664 . The colonies were captive markets for British industry, and the goal was to enrich the mother country . </P> <P> British mercantilist writers were themselves divided on whether domestic controls were necessary . British mercantilism thus mainly took the form of efforts to control trade . A wide array of regulations were put in place to encourage exports and discourage imports . Tariffs were placed on imports and bounties given for exports, and the export of some raw materials was banned completely . The Navigation Acts expelled foreign merchants from England's domestic trade . The nation aggressively sought colonies and once under British control, regulations were imposed that allowed the colony to only produce raw materials and to only trade with Britain . This led to friction with the inhabitants of these colonies, and mercantilist policies (such as forbidding trade with other empires and controls over smuggling) were a major irritant leading to the American Revolution . </P>

What was the british economic policy of mercantilism
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