From the beginning of its settlement, America has been eager to expand across as much territory as possible. Americans believed in an ideal known as “Manifest Destiny” which essentially asserted that it was America’s responsibility to expand across North America and spread …show more content…
During the Industrial Revolution, new technology was developed that allowed manufactures to produce more goods for less money. This increased America’s percentage of the world’s manufacturing by nearly seven percent in just thirty years. (Mooney 108) This allowed for inconsistent yet undeniable economic growth for America, bringing them from a second-rate inferior country in the eyes of the more powerful nations, into what would soon be considered a major world power. As America’s manufacturing increased, it often fell victim to overproduction. Because America was producing so many goods, they often found themselves with more than could be sold. This caused a decrease in jobs and a lower income for manufacturers due to the need to sell their goods at greatly reduced prices. Despite facing these mini depressions, America’s economy had grown …show more content…
The United States offered twenty million dollars to the Spanish. “Spain accepted the offer and gave up the Philippines and Cuba in addition to Guam and Puerto Rico...[and in 1898] the United States officially acquired it’s first colonies.” This expansion was a key turning point for America because it furthered America’s power and influence across the ocean.
By this time, America’s focus had shifted to the need for a canal through the Caribbean. When Columbia refused to allow America to build one through Panama, “President Theodore Roosevelt sponsored Panama’s secession from Colombia.” Once Panama gained its independence, the United States built the Panama Canal, transforming the world trade. Because the Panama Canal was essentially under American control, America’s influence over world trade