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
The stresses between the “Undertakers” and the London partners were
not relieved simply by Allerton’s dismissal. A decade of acrimonious
exchange of letters followed from 1631 to 1641. It was not easy for the
Londoners to balance off Allerton’s debts, along with new expenses,
against the receipt of furs shipped from Plymouth. They were determined
to hold out until a settlement profitable to them was reached.
Throughout this quarrel Bradford’s _History_ has to be our guide for
the most part, for only one fragment of reckoning between Sherley and
Allerton has been found. Undoubtedly, when the great governor wrote
his narrative he was trying to rehabilitate the Pilgrims’ financial
reputation and counter the rumors in London and Boston mercantile
circles that they were in default. In his chapters on finance he
is repetitious, sometimes confusing, and yet omits certain business
details. His judgment was charitable, however, and by recording
Sherley’s letters he preserved at least some of London’s side of the
controversy.
The first dispute arose from Edward Winslow’s unwillingness to accept
the _White Angel_’s losses on the “Undertakers’” account. Sherley
was displeased and warned that this “unreasonable refusal” might
“hasten that fire which is a kindling too fast already....” Plymouth
nonetheless declined to take on all the debts which appeared in
Sherley’s accounting of 1631. It was found that in arriving at a total
of £4770, in addition to £1000 unpaid of the purchase money, he had
charged twice and even three times for certain items. £600 of this
amount even Allerton could not identify.
The London partners’ dissatisfaction with the records kept in Plymouth
led Sherley to insist on the appointment of Josiah Winslow, younger
brother of Edward, as their accountant. The Pilgrims remarked crustily
“that if they were well dealt with and had their goods well sent over,
they could keep their accounts ... themselves.” Certainly, the new
accountant, with his hopeless inaccuracy and carelessness, did little
to mend matters. In fact, he “did wholly fail them, and could never
give them any account; but trusting to his memory and loose papers,
let things run into such confusion that neither he, nor any with him,
could bring things to rights.” Ultimately, they lost several hundreds
of pounds in this way for goods trusted out without any record clear
enough to call in the payments. Also, goods arrived from England
without prices or invoices.
Public-domain text, read in full here on John Shaqi.
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