Debts hopeful and desperate : $b Financing the Plymouth ColonyMcIntyre, Ruth A.
History
Debts hopeful and desperate : $b Financing the Plymouth Colony
McIntyre, Ruth A.
Massachusetts -- History -- New Plymouth, 1620-1691
Weston’s break with the company in London soon followed. The
adventurers held a meeting early in 1622, when the majority agreed to
put into the common fund what we might call an additional assessment
of one third of their original holding of stock. Those anxious to
go on with the business believed it should not be hindered by the
laggards, so they resolved to break off the joint stock as soon as the
shareowners in the colony should agree. This report of a decision to
break up came from Weston and his supporters, but it proved premature,
as indeed Bradford suspected so strongly that he did not show their
letter to more than a handful of intimates in counsel. Instead, Weston
got out. He wrote in April 1622: “I have sold my adventure and debts
unto them so as I am quit of you, and you of me....” The company’s
reaction was that they were “very glad they are freed of him, he being
judged a man that thought himself above the general....” Not unrelated
to his coming in person to New England in disguise and under an assumed
name may have been a large debt he owed the Crown for alum; a Treasury
warrant accused him of withdrawing beyond the seas with the purpose of
taking his estate after him.
Weston’s subsequent projects for colonizing and trading in New England
for some time created problems for the settlement at Plymouth. The
Pilgrims’ leaders more than repaid him for his early support by
receiving his men kindly and rescuing his rival colony on Massachusetts
Bay from imminent destruction by the Indians. When the promoter himself
arrived at their door, virtually destitute, but convincing in his
excuses, they fitted him out with enough furs to begin trade again.
Master John Peirce was the next to quarrel with his fellow adventurers
in London. A member of the Clothworkers’ Company, Peirce claimed that
he once employed more than a hundred persons. He was the merchant
who had received patents for the Leyden settlers from the Virginia
Company in 1620 and later from the Council for New England. He had
helped negotiate the terms of agreement between the merchants and the
planters. It was under his name that they held the right to take up
land around Plymouth. This had made him important enough for Cushman
to dedicate _Mourt’s Relation_ to him. In April 1622, according to the
story Bradford told, a version accepted uncritically by many writers,
Peirce secretly obtained from the Council for New England a new grant,
making the associates hold the lands at Plymouth as his tenants, rather
than of the Council. The London adventurers objected and forced him to
assign the grant to their Treasurer, now James Sherley, in return for
which Peirce demanded £500. The impression is left that Peirce deceived
the company and that they were justified in breaking with him.
Public-domain text, read in full here on John Shaqi.
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