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
return the principal....”
John Beauchamp, unlike the more generous Andrews, continued to insist
on collecting his debt even though it could never be proved. To settle
this claim, Bradford and his partners in 1645 turned over to his
attorney houses and lands in Plymouth, Rehoboth, and Marshfield worth
£291.[48]
It is to Plymouth’s credit that all these obligations were met in
the 1640s, because the colony was no longer as prosperous as in the
preceding decade. Its wealth had come to consist increasingly of
cattle, so that the price collapse which took place when the influx
of new settlers into the Bay ceased, came suddenly and with severe
effect. Cattle came to be worth perhaps 25% of its former value. Even
the wealthier colony of Massachusetts discovered that it could no
longer secure credit in England. The Pilgrims nevertheless continued
to develop their modest resources in animal stock and land. A new land
arrangement reflected the ending of the old debts. Governor Bradford,
who had held title to the patent since 1630, along with the “old
comers” or “purchasers,” turned over the grant to the whole body of
freemen of Plymouth, retaining for himself only three reserved tracts
as his reward for carrying the responsibility for repayment.
As to Plymouth’s fur trade, the complaint John Winthrop had once voiced
that the colony had “engrossed all the chief places of trade” in New
England was no longer true. The “Old Colony” had been edged out of the
Connecticut River and Narragansett trade, some of its Maine posts had
been attacked by the French, and rival settlers and competitors had
made the rest less profitable. At Aptucxet commerce with the Dutch kept
on for a time, and on the Kennebec there remained an echo of the busy
activity of the 1630s. A small group farmed the Indian trade there so
that at his death in 1657 Bradford’s stock of trading goods and debts
due from it was worth £256. Within a few years, however, all trading
goods were brought home and the Kennebec tract sold.[49]
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account