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
Such disagreements between Allerton and Sherley on the one hand, and
Bradford, Winslow, and others at Plymouth, multiplied as the result
of a new Maine venture, devised in 1629, which rivaled the Kennebec.
Sherley and three other Londoners sent Edward Ashley, a keen trader
but “a profane young man” by Pilgrim standards, to found a rival post
at Pentagoet, near the Penobscot River. Allerton had refused to commit
the Plymouth partners to the scheme without their consent, but on the
basis of later correspondence Bradford decided that he had been an
instigator of the plan. Since they had to send Ashley supplies, the
Pilgrims had little choice anyway but to come in, if they wished to
have some control of this potential competitor. Ashley soon was better
supplied with trading goods than Plymouth, which, indeed, had to buy
from Allerton himself, in return for part of their beaver taken at
reduced prices. Without their knowledge, their versatile agent next
borrowed money on their account at Bristol, at 50% interest, ostensibly
so that goods might be shipped early with the fishing fleet headed for
New England waters in the spring of the year.
Meanwhile, Winslow had conceived a plan to send a fishing ship laden
with trading goods from the West Country in England directly to Maine,
where a cargo of salt purchased the season before would await the
ship’s arrival. In fact, the vessel thus hired, the _Friendship_,
was badly delayed by “foul weather” so that Allerton reached Maine,
traveling on the _White Angel_, only just before Timothy Hatherley, one
of the London associates, finally reached Boston in the _Friendship_.
The latter revealed that most of the goods he carried were not for
Plymouth at all, but for Massachusetts. Plymouth’s mounting annoyance
and mistrust of Allerton reached its pinnacle with the disturbing
revelation that the English partners had bought outright the _White
Angel_, not merely hired her, as was customary. The “Undertakers”
suddenly were confronted by fresh, crushing debts, for each English
partner had contributed two or three times as large an investment
as before. Meanwhile, with a subtle note of mistrust of Plymouth’s
dealings with them, the latter had designated Hatherley as a
confidential agent to be informed of “the state and account of all the
business.”[42]
Public-domain text, read in full here on John Shaqi.
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