Adam Smith wrote in The Wealth of Nations, 1776:
“The Spaniards, by virtue of the first discovery, claimed all America as their own, and … such was … the terror of their name, that the greater part of the other nations of Europe were afraid to establish themselves in any other part of that great continent …
But … the defeat … of their Invincible Armada – 1588 … put it out of their power to obstruct any longer the settlements of the other European nations.
In the course of the 17th century … English, French, Dutch, Danes, and Swedes … attempted to make some settlements in the new world.”
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