These figures show the impact of the situation on trade. There was a great depression in the 1760s, when the majority of non-import and taxation battles fought. Nevertheless, it is assumed that non-importation and the resulting depression were not only caused by unpopular acts. During this period, creditors and the investor asked for their money from colonial importers who were unable to repay their debts. To raise more money, they made the non-import so that they could sell their shares at higher prices. The non-import agreements of the late colonial era were important precursors of the American Revolution. The agreements have stoked tensions that have led to violence. The negotiation of the agreements propelled the Boston Patriots to the forefront and demonstrated to the settlers the potential for unified action. At a deeper level, the agreements have helped awaken settlers to their emerging national identity as Americans, helping them promote their cultural value of austerity on the national stage. In response to the non-import Boston agreement, Parliament finally struck down the Townshend Revenue Act taxes on all products except tea. The non-import agreements of the years leading up to the American Revolution were an effective tactic to protest British policy and put the Boston Patriots first and demonstrate to other colonies the potential for joint action. Following the successful boycott that Boston launched in 1768 with the Boston non-Import Agreement, the First Continental Congress of 1774 would pass a colonial ban on all trade with Great Britain.
Non-import agreements have not only contributed to the upsurriving of undesirable behaviour, but have also contributed to lower exchange rates and the clearing of inventories filled with importers. NONIMPORTATION AGREEMENTS were a series of trade restrictions introduced by American settlers to protest british income policy before the American Revolution. The British Stamp Act of 1765 triggered the first non-import agreements. In protest at the unrepresentation tax, New York merchants agreed to a collective embargo on British imports until Parliament lifted stamp duty, and they persuaded traders in Boston and Philadelphia to do the same. Under pressure from British exporters who lost their business, Parliament repealed the Stamp Act within a year. A third wave of economic embargo was formed in 1774. In protest against various parliamentary restrictions, the Continental Congress created the Continental Federation, which imposed non-import, non-import and non-export conditions on the colonies. However, in defiance of colonial wishes, British traders opened new export markets and the London government decided to dismantle the colonial rebellion. The war ensued. “Non-import.” Merriam-Webster.com Dictionary, Merriam-Webster, www.merriam-webster.com/dictionary/nonimportation. Access 6 Dec 2020.
The non-consumption agreements were part of a family of agreements, including non-import and non-export agreements, processed by American settlers in the declarations and resolution of the First Continental Congress of 1774. These agreements then served as the basis for the non-importation act and subsequent embargo of 1807, adopted in 1806 by the United States Congress to establish American nautical neutrality during the Napoleonic wars between France and Great Britain. The non-import agreements (1765-1775) in American colonial history attempted to impose British recognition of political rights by applying economic pressure. In response to the Stamp Act (1765) and the Townshend Acts (1767), non-importing colonial associations of Sons of Liberty and Whig were created to boycott English products.