Why did the British need a new trading settlement?

Question:

Why did the British need a new trading settlement?

Best Answer - Chosen by Asker: The mercantile theory held that colonies exist for the economic benefit of the mother country and are useless unless they help to achieve profit. The mother nation should draw raw materials from its possessions and sell them finished goods, with the balance favouring the European country. This trade should be monopolistic, with foreign intruders barred.