We can therefore realize that when Master John Cabot came among the merchants of this busy town with his plans he found a ready hearing. Cabot was soon brought to the notice of his august majesty Henry VII of England. The king had been shortsighted enough to reject overtures made to him by Bartholomew Columbus, brother of Christopher, and no doubt he regretted his mistake. Now he was eager enough to act as the patron of a new voyage. Accordingly, on March 5, 1496, he granted a royal licence in the form of what was called Letters Patent, authorizing John Cabot and his sons Lewis, Sebastian and Sancius to make a voyage of discovery in the name of the king of England. The Cabots were to sail 'with five ships or vessels of whatever burden or quality soever they be, and with as many marines or men as they will have with them in the said ships upon their own proper costs and charges.' It will be seen that Henry VII, the most parsimonious of kings, had no mind to pay the expense of the voyage. The expedition was 'to seek out, discover and find whatsoever islands, countries, regions and provinces of the heathens or infidels, in whatever part of the world they be, which before this time have been unknown to all Christians.' It was to sail only 'to the seas of the east and west and north,' for the king did not wish to lay any claim to the lands discovered by the Spaniards and Portuguese. The discoverers, however, were to raise the English flag over any new lands that they found, to conquer and possess them, and to acquire 'for us dominion, title, and jurisdiction over those towns, castles, islands, and mainlands so discovered.' One-fifth of the profits from the anticipated voyages to the new land was to fall to the king, but the Cabots were to have a monopoly of trade, and Bristol was to enjoy the right of being the sole port of entry for the ships engaged in this trade.