History of Pennsylvania control of the Dutch (and former Swedish) holdings in North America. At the end of the Third Anglo-Dutch War, the 1674 Treaty of Westminster permanently confirmed England's control of the region. Following the voyages of Giovanni da Verrazzano and Jacques Cartier, the French established a permanent colony in New France in the 17th century to exploit the North American fur trade. During the 16th, 17th, and 18th centuries, the French expanded New France across present day Eastern Canada into the Great Lakes region, and colonized the areas around the Mississippi River as well. New France expanded into western Pennsylvania by
Global silver trade from the 16th to 18th centuries with baochao or paper money. However, the currency never popularized and silver proved its mainstay as a global currency. Despite some restrictions, silver continued to drive trade through its popularity in Europe. This, combined with a high British demand for Chinese tea, created chronic trade deficits for European governments, which were forced to risk silver deficits to supply merchants in Asia. As supplies of silver decreased in Europe, Europeans had less ability to purchase highly coveted Chinese goods. Merchants were no longer able to sustain the China trade through profits made by selling Chinese goods in the West and were