In the 1700's the Industrial Revolution was beginning to take hold in Europe and European colonies around the world. However, as industries grew, more resources were needed such as: raw materials, workers, and machinery. Mercantilists believed that the wealth of the world is fixed (or a set amount that cannot change) so in order for one country to get richer, it had to take wealth (often in the form of resources) from other nations.
Below is a map of European colonies in the America's during this time. Colonizing other parts of the world or exploiting a colony's natural resources was a common means of gaining power and wealth for European nations during this time.
Click on each blue star (territory) below to see what valuable resources could be found there.
Source: Colonisation 1800, Jluisrs, Wikimedia