United States legislatures. They demanded their rights as Englishmen and "no taxation without representation". The British insisted on administering the empire through Parliament, and the conflict escalated into war. The Second Continental Congress unanimously adopted the Declaration of Independence on July 4, which recognized, in a long preamble, that all men are created equal and endowed by their Creator with unalienable rights and that those rights were not being protected by Great Britain, and declared, in the words of the resolution, that the thirteen United Colonies formed an independent nation and had no further allegiance to the British crown. The fourth day
Economic history of the United Kingdom manufactured goods were sold around the world, and raw materials and luxury goods were imported to Britain. During the Industrial Revolution the empire became less important and less well-regarded. The British defeat in the American War of Independence (1775–1783) deprived it of its largest and most developed colonies. This loss brought a realisation that colonies were not particularly economically beneficial to the home economy. It was realised that the costs of occupation of colonies often exceeded the financial return to the taxpayer. In other words, formal empire afforded no great economic benefit when trade would continue whether the overseas political