Answer:
Spain, France, and England take an approach to colonization for gold, glory, and god.
They acquired wealth by establishing colonies in the New World.
Explanation:
European powers wanted to strengthen their economic position in Europe. European empires began to establish colonies in new places like North America, Central America and South America. Spanish defeated the ancient empires of Aztec, Maya, and Inca. France and England establish colonies by signing treaties with the Indians and through wars to get Natives land. European began to establish colonies to show their glory by gaining wealth and land. Religious played a significant role in the Spanish conquest of the New World. The Papal Bull, issued by Pope Alexander VI, allowed Spain to have an exclusive right to the land discovered by Columbus.
By establishing colonies, European powers displayed their power. The French traded for fur pelts (Beaver) from the Indians. The French in return transported and sold it in Europe to get profit. The British colonies required to provide raw materials like fur, timber, cotton, and buy British goods. Britain being an empire, introduced the system of mercantilism to secure its economy. The British took the colonies as moneymakers. Spanish colonies, in the beginning, supplied gold and silver bullion to Spain which filled the emperor's coffer.
It was "Lincoln" who <span>won the Election of 1864, since Lincoln had in fact become very popular with a large majority of people in the Northern section of the US by this time. </span>
Answer:
1. What might be the costs of having such a large national debt?
When a country has a very large debt like the U.S., people may think that the country will not be able to pay off the debt. It's the same situation as a person who has a lot of debt, even more debt in a year than income in a year: people will believe that he or she will probably not be able to pay off the debt.
When this happens, people will invest less in the economy, the debt will become more expensive because the interest rate will be higher, and this in turn could lead Congress to enact policies such as tax hikes or debt renegotiations, which are always negative for an economy.
2. Did the promise that tax cuts would result in a growing economy that would pay for any budget shortfalls come true during the Reagan years?
Reagan's tax cuts did not lead to increases in tax revenue. On the contrary, tax revenue, as predicted by many, actually fell. This, in addition to increased military and social security spending, led to large budget deficits during the Reagan administration.
