Throughout the colonial period, Europeans used a theory called mercantilism.
Mercantilists believed that economic power was rooted in a favorable balance of trade and control of specie
Colonies were important mostly for economic reasons, which is why the British considered their colonies in the West Indies more important than their colonies on the North American continent
Colonies on the North American continent were seen primarily as markets for British and West Indian goods, but also as sources of raw materials
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