New England -- History -- Colonial period, ca. 1600-1775
There was, however, no surplus of food for export, and lumber and beaver
were the only available commodities.[258] But the site that had been
chosen for the colony was in a poor location for the Indian trade, which
required access to the interior along some waterway; and the Pilgrims
were therefore forced to resort to coasting voyages for their main
supply of skins.
Footnote 258:
In 1626, it was decreed that no corn, beans or peas could be exported
without license from the governor and council. _Plymouth Records_,
vol. XII, p. 8.
Not only had the London merchants received almost no interest upon their
investment, but it began to seem evident to them that the principal
itself was lost. Quarrels among themselves over the character of the
colonists sent out, and mutual recriminations, completed the break-down
of the company. Finally, in December, 1624, some of them wrote to
Bradford and others that they had decided to abandon the venture and
lose what they had already expended rather than risk any more,
suggesting that the Pilgrims send over what they could to pay special
debts, amounting to £1400. Those writing the letter also sent out, on
their own account, some cattle and various useful commodities, to be
sold to the settlers at seventy per cent advance, to cover the profits
and risks. The latter were indeed great, insurance alone, at that time,
consuming about twenty-five per cent for the round trip;[259] and the
following year, Standish, who had been sent to London for the purpose,
could not borrow money, for the purchase of trading goods, at less than
fifty per cent. Goods and capital they must have, however, and the
profits, when made, were correspondingly great. While Standish was in
London, Winslow made a trip to the Kennebec, in a small vessel, laden
only with a little of that surplus corn which they had raised, and there
secured seven hundred pounds weight of beaver, besides other furs. In
1626, hearing that the trading station at Monhegan was going out of
business, Bradford and Winslow, accompanied by Thompson from Piscataqua,
went to attend the sale, at which the Pilgrims bought goods to the value
of £400. An additional stock, amounting to £100, was bought from the
wreck of a French ship in the ill-fated Damaris Cove, the purchases
being paid for with the beaver which they had accumulated the winter
before. The following spring, Allerton arrived from London with £200
more, which he had succeeded in raising at thirty per cent; so that
their capital was now ample.[260] The greatest advance which they made
in their trade with the Indians, however, was due to the friendly Dutch,
who sold them some wampum, and taught them its great value in dealing
with the savages. This appearance of the ubiquitous Dutch, helping a
struggling colony to achieve economic strength by valuable advice or yet
more valuable trading in needed goods, was a frequent one in the early
seventeenth century, and in all quarters of the globe. The Pilgrims at
Public-domain text, read in full here on John Shaqi.
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