tish. However, Byron had no clue of the
             already settled French colony on the East of the Falkland. When the British
             got to know of this, they quickly made friends with the neighbors of the
             This forced the French to retreat and give up their colony to the
             Spanish. Spain is considered to be the 1st nation to actually build a
             settlement over the island. They took their business seriously and started
             making progress which would have led to future profits for the Spanish.
             Spain had been so serious in capturing the whole of the island, that they
             repeatedly made attempts of expelling the British from the islands. This
             went on for a while until the Spanish finally succeeded in 1774. Spain made
             several developments over the Islands, which remained under their control
             for the next 60 years or so. However, during this time, the internal
             conditions of Spain had worsened and the loyalty of the Spaniards who were
             in charge of the Island had shifted. When Argentina was made independent in
             1816, it demanded its right over the Falkland Islands.
             In 1820, they possessed the Islands. However, this settlement could
             not last for long and after a period of 12 years, the British came back to
             regain the control of the island and demand a claim. A year after that, the
             British were finally successful in evicting the Argentineans and at last,
             the settlement of the British finally began. In order to reap most of the
             benefits of the Islands, the British founded the Company of Falkland
             Islands in 1851[4]. The main purpose of this company was to encourage the
             exploitation of the cattle that had been imported by the French. Thus, the
             basis of the Falkland Islands' economy became sheep farming. By 1892, the
             Islands of the Falkland were officially recognized as a colony by the
             British as at the time, the settlement of the Falkland Island consisted of
             around 2000 British settlers who were able to support themselves
             e...