Of the 110 members of the Company in England, only about one
fourth ever came to America. Cradock himself never came,--though
he had lands and servants here. Most of the members, who stayed
in England, lost all their investment eventually. Indeed, in the
summer of 1629, the Company was already in serious financial
straits. A special inventory, in the fall, rated the stock at only
one third the face value. This condition may have inclined some
stockholders to favor Cradock's proposition in July. The funds paid
in for stock by Winthrop and other new members made it possible for
old members to draw out (on this reduced scale). In this sense, the
new members "bought" out some of the old ones.
4.--_No place of meeting_ is suggested in the charter. This
probably resulted from the fact that the Company was made up
partly of Londoners, partly of Dorchester men (from the West of
England; cf. _American History and Government_, # 57). All such
previous colonizing corporations for America had been designated
geographically (probably for convenient descriptions, rather than
for limitation). But the "Council of Plymouth in the County of
Devon" had never held a meeting at Plymouth: its records show that
all its meetings were held at London. This fact may have helped
to make the even more composite Massachusetts Company wary about
having a place of meeting mentioned in their fundamental law. If
John Winthrop is right in his statement of fifteen years later
(above) that such a limitation was at first put into this document
and that "with much difficulty we got it abscinded," then we may be
sure that the Company desired that elision, not in order that they
might hold meetings in America (as Winthrop afterward assumed),
but to prevent their being hampered in England. This view is made
practically certain when we observe the clause regarding place of
meeting in the charter of the Providence Isle Company (below).
That company certainly never expected to hold its meetings out of
England, but it guards against being hampered, not by mere silence,
but by express provision that it may meet where it likes.]
54. Docket of the Massachusetts Charter, 1629
When the king granted a charter, an exact copy, known as "the
King's Bill," was presented to him, with a _docket_, or abstract,
approved by his Attorney-General. This docket was what the king, or
his council, read.
The following docket, now attached to the King's Bill of
this charter in the London Record Office, is printed in the
_Massachusetts Historical Society Proceedings_ for 1869-1870,
pages 172-173. The italics are used in this reproduction to call
attention to important matters.
May it please your most Excellent Majestie.
Public-domain text, read in full here on John Shaqi.
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