Final answer:
John Cabot left on his second voyage of exploration in 1498, which was significant for England's future territorial claims in the New World, despite yielding no immediate wealth.
Step-by-step explanation:
John Cabot embarked on his second voyage of exploration in 1498, funded partly by King Henry VII who expected financial benefits from the journey. While he did set sail and claimed land for England during his first journey in 1497, the details of his second voyage are less clear because it didn't yield the precious metals expected, and England soon encountered domestic issues that took precedence over overseas exploration.
Cabot's voyages, although not immediately fruitful in terms of wealth, were significant as they asserted England's territorial claims in the New World for future colonization efforts.