Final answer:
The statement is true; historical contexts show that the American interest in acquiring new territories was largely driven by the pursuit of economic benefits, and acquisition of resources, as well as larger settlements for growing its wealth and participating in the consumer revolution.
Step-by-step explanation:
The statement 'American interest in its new possessions had to do with wanting wealth from natural resources and large-scale American settlement' is true. Historical evidence demonstrates that the United States had considerable interest in expanding its territories for the purpose of accessing natural resources and establishing larger settlements. As an expanding industrial nation in the nineteenth century, the United States was motivated by economic interests rooted in mercantilism and the desire for economic growth.
We see this with the push westward across North America, which strategically involved purchasing territory, making treaties, and sometimes waging war. Acquiring land was crucial for farming, ranching, mining, and timber companies. This goal was also evident in the acquisition of Alaska and the expanded interest in the Pacific. By settling vast territories and desiring access to resources like Chinese wealth and land for growing sugarcane, the U.S. sought out ways to improve its economic standing and participate in the consumer revolution. Such activities align with the historical context of colonization, where nations competed for glory and the economic benefits that came with new territories filled with untapped resources.