Final answer:
The Georgia colony did not achieve its initial mercantilist goals, as industries like silk and wine production failed. Instead, it turned to cattle-raising, timber, and trade. The Trustee system collapsed due to economic hardships and unpopularity of regulations, leading to a transition to royal governance.
Step-by-step explanation:
The initial mercantilist goals for the Georgia colony, largely devised by James Oglethorpe and the Trustees, envisioned the colony as a source of luxury items such as wine and silk to compete within the mercantilist system of the British Empire. However, these industries failed to materialize, as the silk industry never produced a profitable crop and the coastal soil was unsuitable for vineyards. Instead, the early colonists had to focus on basic survival by turning to cattle-raising, timber, and trade with Native Americans, which eventually became staple industries in Georgia.
The trustee system governing Georgia faced myriad problems. Strict regulations, including the banning of alcohol and slavery, were initially in place but were unpopular and eventually rescinded. By the 1750s, with economic difficulties mounting, the colony ceased to receive Parliamentary subsidies which contributed to its poor financial state. The Trustee system was ultimately abandoned in 1752, and Georgia transitioned to a royal colony with a more conventional governance structure resembling its sister colonies.
From a broader historical perspective, while the Trustees initially promoted Georgia as a military buffer against Spanish Florida and as a social experiment for the deserving poor, the colony did not achieve the early ambitious goals set forth by its founders. The shift in economic practices and governance indicates that the success of the colony, in terms of its original mercantilist aspirations and trustee governance, was limited.