USA HISTORY

Detailed explanation-1: -The opportunity to make money was one of the primary motivators for the colonization of the New World. The Virginia Company of London established the Jamestown colony to make a profit for its investors. Europe’s period of exploration and colonization was fueled largely by necessity.

Detailed explanation-2: -They were looking for gold, silver and a passage to the Pacific. They were also hoping to take advantage of natural resources, ” says historian James Horn, author of A Land As God Made It: Jamestown and the Birth of America.

Detailed explanation-3: -The settlers planted this cash crop. In 1614, they began to trade their tobacco for money and supplies. People in England loved it. Tobacco became Virginia’s “gold.” It wasn’t actually gold, but selling tobacco made the colony wealthy.

Detailed explanation-4: -The Jamestown Settlers Came Looking for Gold After hearing stories of the success the Spanish found in South America, Virginia Company investors thought it would be simple enough to find gold if they too started a new settlement. The settlement was named Jamestown, after King James I, who granted the charter.

Detailed explanation-5: -The first permanent European colony on the Atlantic seaboard was established by the Virginia Company at Jamestown in 1607 with a specific remit to look for gold.