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Because they (Europe) could get certain goods from there (the Americas), and with wealth came power. An example of that was New France in the 1600-1700s when France started a colony in Canada (which later expanded into what used to be called Louisiana Territory). Its main purpose was for the fur trade. And as a random fact, the French actually learned and allied with one of the Native Americans in the area.

Another purpose for European colonies in the Americas was for religious freedom. An extremely popular example is Plymouth, settled in present day Massachusetts in 1620 by the Pilgrims.

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