Final answer:
Rhode Island is most associated with the principle of religious freedom due to its foundation for promoting religious diversity and tolerance.
Step-by-step explanation:
The American governing principle most closely associated with the colony of Rhode Island is religious freedom. Rhode Island was established by Roger Williams, who promoted religious diversity and tolerance. This foundation aligns with the principles later articulated by Thomas Jefferson in the Virginia Statute for Religious Freedom. Furthermore, the colony of Rhode Island's unique characteristic of electing its governor, such as Stephen Hopkins, underscores its commitment to the principles of self-governance and limited government, reflecting an early embrace of democratic ideals that limited the overarching reach of the government.