The scheme was not without great possibilities, and the company spared neither money nor effort to make it a success. Within three years more than thirty-five hundred emigrants crossed to Virginia. In 1621 the expenditures of the company had reached a total of L100,000, and in 1624 the amount had been doubled. Yet, quite apart from the high death-rate which depleted the colony, or the Indian massacre of 1622 which threatened its existence, all the efforts of Sandys ended in failure. Drawn into the main current of English politics, the Virginia Company was unable to live in those troubled waters. James regarded with little favor the liberalism which Sandys and Southampton were promoting in England as well as in America. On high moral grounds he disliked the use of tobacco, and for economic and fiscal reasons was opposed to its cultivation in Virginia. He was determined, at all events, that such profits as might arise from its importation should enrich the royal exchequer rather than a powerful corporation controlled by men who were carping at the king's prerogative. And the king found support in the company itself; for Smythe and Warwick turned against the corporation and furnished pretexts to prove that it had betrayed its trust and should forfeit its rights. In 1624 the charter was accordingly annulled, and Virginia became a royal province. Thus ended the most serious attempt of a commercial company to make profit out of American planting. Famous and successful in the annals of colonization, it proved a complete disaster as a financial speculation. During the reign of Charles I, merchants were therefore but little disposed to venture their money in enterprises of that kind. Nor was Charles himself, who guarded the royal prerogative more jealously even than James had done, likely to look with favor upon the creation of corporations which would prove useless in case of failure and might prove dangerous if they succeeded. The rough sea of politics in the time of the second Stuart was unsuited to floating successful colonial ventures of any kind under governmental sanction; but in so far as he was disposed to further the development of America, it was natural enough for Charles, who found that his usurping Parliament was backed by the mercantile interest, to frown upon colonial corporations, and to make use of the proprietary feudal grant as a means of rewarding the courtiers and nobles who supported him. The very year that the New England Council surrendered its charter, Archbishop Laud was urging the king to recall that of Massachusetts Bay. It was a few years later that Fernando Gorges was made Lord Proprietor of Maine; a few years earlier that Lord Baltimore, a loyal supporter of the House of Stuart, received a feudal grant after the manner of the Durham Palatinate of that part of Virginia which was to be known as the Province of Maryland. BIBLIOGRAPHICAL NOTE