▁of ▁merc ant il ist ▁policy . ▁Other ▁policies ▁have ▁included : ▁ ▁Building ▁over se as ▁colon ies ; ▁ ▁For b idd ing ▁colon ies ▁to ▁trade ▁with ▁other ▁nations ; ▁ ▁Mon opol izing ▁mark ets ▁with ▁st ap le ▁ports ; ▁ ▁B anning ▁the ▁export ▁of ▁gold ▁and ▁silver , ▁even ▁for ▁pay ments ; ▁ ▁For b idd ing ▁trade ▁to ▁be ▁carried ▁in ▁foreign ▁ships ; ▁ ▁Ex port ▁subs id ies ; ▁ ▁Prom oting ▁manufact uring ▁with ▁research ▁or ▁direct ▁subs id ies ; ▁ ▁Lim iting ▁w ages ; ▁ ▁Maxim izing ▁the ▁use ▁of ▁domestic ▁resources ; ▁ ▁Rest rict ing ▁domestic ▁consumption ▁with ▁non - tar iff ▁bar riers ▁to ▁trade . ▁ ▁The ▁term ▁" mer c ant ile ▁system " ▁was ▁used ▁by ▁its ▁for em ost ▁critic ▁Adam ▁Smith . ▁ ▁Mer c ant il ism ▁in ▁its ▁simplest ▁form ▁was ▁b ull ion ism ▁which ▁focused ▁on ▁accum ulating ▁gold ▁and ▁silver ▁through ▁clever ▁tr ades ▁( le aver ▁the ▁trad ing ▁partner ▁with ▁less ▁of ▁his ▁gold ▁and ▁silver ). ▁Mer c ant il ist ▁writers ▁emphas ized ▁the ▁circul ation ▁of ▁money ▁and ▁rejected ▁ho arding . ▁ ▁Their ▁emphas is ▁on ▁mon et ary ▁met als ▁acc ords ▁with ▁current ▁ideas ▁regarding ▁the ▁money ▁supply , ▁such ▁as ▁the ▁stim ulative ▁effect ▁of ▁a ▁growing ▁money ▁supply . ▁In ▁England , ▁merc ant il ism ▁reached ▁its ▁peak ▁during ▁the ▁Long ▁Parliament ▁government ▁(