- Mercantilism- an economic system where a nations power is measured by its wealth in gold and silver. In order to make mercantilism work, countries competed with one another to acquire gold and silver. The colonies were very important to mercantilism because they supported their mother country by becoming a source of raw materials to create a favorable balance of trade by allowing England to export more than it imports... The Thirteen Colonies I. ... It divided the English colonies. 2. ...

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