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 had come to discern in the colonizing scheme commercial
prospects attractive enough to induce several other London businessmen
to join in an unincorporated company to send the Leyden congregation
overseas. Besides evidence to be presented later that to a certain
extent Puritan religious inclination prompted this support, it is
likely that the slump in the trade in woolen cloth, the traditional
mainstay of English commerce abroad, was also a factor influencing
their decision. The disturbance in the course of that trade due partly
to its reorganization by the Crown in 1614 helped favor an interest in
various new money-making projects. In the rapid growth and dislocation
characteristic of early seventeenth-century London relatively
few merchants had heard of New England, but Virginia’s financial
difficulties were well known. Captain John Smith had appealed in 1616
to investors in London and the ports of southwestern England to support
colonies to produce profits from the fish and furs of New England.
Fishermen, some sent by Londoners, already were sailing off the coast,
but Smith recommended settling there so that permanent posts could
lengthen the fishing season and permit cargos to be prepared for the
arrival of the fleets in the spring. Weston and his partners may have
regarded the Pilgrims as the human material to carry out such a plan.
Perhaps he suggested planting further north than Jamestown.
Be that as it may, this promoter was welcomed with enthusiasm when he
came to confer with Pastor Robinson and to reassure the discouraged
that there was no want of shipping or money. The next step was to
persuade his Leyden friends to draw up an agreement with his “merchant
adventurers,” and set forth in black and white the terms under which
they would receive aid and he could persuade his fellow-investors to
contribute.
1620--Pilgrims and merchants form a joint stock company
Public-domain text, read in full here on John Shaqi.
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