Virgin Islands Summary of Account for Inventory of Business
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How to fill out Summary Of Account For Inventory Of Business?
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FAQ
The US purchased the islands in 1917, when they were known as the Danish West Indies, hoping that they'd be an ideal strategic location for a naval base and would help secure the region surrounding the Panama Canal.
The USVI is an organized, unincorporated territory of the United States, meaning it follows U.S. laws but also has its own local government. It also means that not all of the U.S. Constitution applies to the people living there.
Yet as early as the American Civil War, the U.S. was eyeing them as a possible economic and national security asset. This was because U.S. officials thought the islands could help secure American economic interests in the Caribbean.
History & Political Status In 1917, the United States purchased the Danish part for $25 million, mainly for strategic reasons to assure tranquility in the Caribbean Ocean. U.S. citizenship was conferred on U.S. Virgin Islanders in 1927.
The U.S. needed a military base in the Caribbean, and due to its good natural harbour St. Thomas was an obvious choice. After Denmark lost the Second Schleswig War in 1864, the U.S. was also concerned that Austria would claim the Danish islands as spoils of war.
The economy of the United States Virgin Islands is primarily dependent upon tourism, trade, and other services, accounting for nearly 60% of the Virgin Island's GDP and about half of total civilian employment. Close to two million tourists per year visit the islands. The government is the single largest employer.
The Americans were keenly interested in acquiring the excellent harbor on St. Thomas for their fleet of warships. Seward and Raasløff were energetic and result-oriented, and they completed talks on a sales treaty at the beginning of 1867. The treaty was signed at diplomat level on 24th October 1867.
United States Virgin Islands, also called U.S. Virgin Islands, organized unincorporated island territory of the United States, situated at the eastern end of the Greater Antilles, about 40 miles (64 km) east of Puerto Rico, in the northeastern Caribbean Sea.
