For the interests, therefore, of England, and to afford a fair field in the then known markets of the world to her merchants and manufacturers, it became necessary to break down the monopoly exercised by the Germans, from their privileged site on the banks of the Thames, and the “Merchant Adventurers’ Company,” with Sebastian Cabot as its governor, was made the instrument of effecting this desirable change. Edward himself, fully alive to the necessity of abolishing the foreign monopoly, seems, by the records in his journals,[80] to have taken great interest in the formation and progress of this company of English traders, and, in spite of the vast influence of the Steel-yard, to have afforded to his merchants every facility in his power for the despatch of the expedition which Cabot had recommended. [Sidenote: Despatch of the first expedition under Sir H. Willoughby.] “Strong; and well-seasoned planks for the building of the requisite ships were provided,” and to guard against the worms, “which many times pearceth and eateth through the strongest oak,” it was resolved for the first time in England, though sheathing had been used for some years previously in Spain, “to cover a piece of the keel of the shippes with thinne sheets of lead.”[81] Sir Hugh Willoughby, “a most valiant gentleman and well borne,” and highly recommended for his “skill in the services of war,”[82] was placed in command of the expedition. Nor were these the only requisite qualities, for it seems to have been thought no slight recommendation that he should be of “tall and commanding stature.” Richard Chancellor, the second in command, with the title of Pilot-Major, is described as a man of highly-cultivated intellect and refined manners, combined with great shrewdness and powers of observation, and withal a skilful and intrepid seaman. [Sidenote: Instructions for his guidance, probably drawn up by Cabot.]