But for some time after his arrival in England Cabot lived in comparative retirement, devoting himself to the consideration of questions of importance to navigators, and endeavouring to improve the means whereby they were enabled to shape their courses with greater safety and certainty across the ocean. Not the least important of his studies was the variation of the compass; if not the first he was among the first who showed the extent of these variations in different places, and who attempted to frame a theory on this important subject. His earliest transatlantic voyage had carried him to a quarter where the variations of the needle are most sudden and striking. Nor are they much less sudden in the La Plata, where, from Cabot’s long residence, they must have secured his deliberate attention and careful consideration. But, in the absence of his “maps and discourses,” there are now no means extant of ascertaining the nature of the theory he had formed, though it must have been of a practical character, as the seamen brought up in his school, and sailing under his instructions, were particularly attentive in noting the variations of the needle.[77] Though seeking retirement, his knowledge and experience, were of too varied and valuable a character to be allowed any lengthened repose. Frequently consulted, and his advice generally adopted, many adventures owe their origin to his genius; and one of the greatest of these, which arose out of the then prevailing stagnation of trade, is especially worthy of note. “Our merchants,” remarks Hakluyt,[78] “perceived the commodities and wares of England to be in small request about us and near unto us, and that their merchandise, which strangers, in the time and memory of our ancestors, did earnestly seek and desire, were now neglected and the price thereof abated, although they be carried to their own parts.” [Sidenote: Cabot forms an association for trading to the North,] Cabot, having been consulted as to the best mode of remedying this depressed state of things, recommended, after a conference with the merchants of London, “that three ships should be prepared and furnished out for the search and discovery of the northern part of the world, to open a way and passage to our men for travel to new and unknown kingdoms.”[79] So general was the desire to secure a continuation of Cabot’s services, that, notwithstanding his advanced age, the Letters Patent incorporating the association for carrying out the expedition he had recommended declared him to be governor, an office he was to enjoy “during his natural life, without a moving or dismissing from the same room.” But the association had to encounter the opposition of the Steel-yard, the powerful foreign body whose monopoly had long exercised a very prejudicial influence on English manufactures and commerce. [Sidenote: known as the Merchant Adventurers’ Company.]