During the colonial era, governments sought to strengthen their economies, just as they do today. Mercantilist theory indicated that wealth was an...

During the colonial era, governments sought to strengthen their economies, just as they do today. Mercantilist theory indicated that wealth was an important part of a country's power. To obtain supplies of precious metals, governments could impose tariffs on imported goods. That would encourage citizens to buy their own nation's goods and to keep their money at home. European nations also relied on the resources found in their colonies, and those colonies would purchase the finished goods made at home.