<P> To reward their troops, the Conquistadores often allotted Indian towns to their troops and officers . Black African slaves were introduced to substitute for Native American labor in some locations--including the West Indies, where the indigenous population was nearing extinction on many islands . </P> <P> During this time, the Portuguese gradually switched from an initial plan of establishing trading posts to extensive colonization of what is now Brazil . They imported millions of slaves to run their plantations . The Portuguese and Spanish royal governments expected to rule these settlements and collect at least 20% of all treasure found (the quinto real collected by the Casa de Contratación), in addition to collecting all the taxes they could . By the late 16th century American silver accounted for one - fifth of Spain's total budget . In the 16th century perhaps 240,000 Europeans entered American ports . </P> <P> Inspired by the Spanish riches from colonies founded upon the conquest of the Aztecs, Incas, and other large Native American populations in the 16th century, the first Englishmen to settle permanently in America hoped for some of the same rich discoveries when they established their first permanent settlement in Jamestown, Virginia in 1607 . They were sponsored by common stock companies such as the chartered Virginia Company financed by wealthy Englishmen who exaggerated the economic potential of this new land . The main purpose of this colony was the hope of finding gold . </P> <P> It took strong leaders, like John Smith, to convince the colonists of Jamestown that searching for gold was not taking care of their immediate needs for food and shelter and the biblical principle that "he who will not work shall not eat" (see 2 Thessalonians 3). The lack of food security leading to extremely high mortality rate was quite distressing and cause for despair among the colonists . To support the Colony, numerous supply missions were organized . Tobacco later became a cash crop, with the work of John Rolfe and others, for export and the sustaining economic driver of Virginia and the neighboring colony of Maryland . </P>

Who sponsored the first english colony in the americas