25 March 1584: Sir Walter Raleigh receives a patent to colonise America

On this day in 1584, Queen Elizabeth I issued a patent to Sir Walter Raleigh to establish an English colony in North America.

Catholic Spain was doing rather well out of its conquests on the Spanish Main in the 16th century. Its treasure fleets brimming with gold were making their way back across the Atlantic, under the green eyes of protestant England.

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Chris Carter
Wealth Editor, MoneyWeek