The Virginia Company Of London, 1606-1624Craven, Wesley Frank
History
The Virginia Company Of London, 1606-1624
Craven, Wesley Frank
Virginia -- History -- Colonial period, ca. 1600-1775; Virginia Company of London
To find the money for investment in the public lands was no easy task.
No common joint-stock fund could be raised in 1619, if only because the
company's plans depended chiefly upon the hope of inducing the
adventurers to invest in their own lands. It cannot be said how
successful were the renewed attempts to collect from delinquent
subscribers, but perhaps some help came from that source. Sandys
depended also, as had Smith before him, on the Virginia lottery,
perhaps more than upon any other source, for the lottery was terminated
early in 1621 by order of the privy council on grounds that included
the complaint of parliament that the lottery had become a public
nuisance. A very substantial help to Sir Edwin was the bishops' fund
for an Indian college and additional funds raised for the support of an
Indian school in the colony. The total ran to better than L2,000. It
had been decided in 1618, well before Sandys' election, that the money
from the bishops' fund would be invested in an estate to be known as
the College Land, and the precedent thus set was followed in disposing
of funds subsequently made available to the company for an Indian
school. In practical terms, these decisions meant that all mission
funds were used to send out tenants on the promise that a half-share of
the wine and other such commodities as they might produce would in time
provide a permanent endowment for the school and the college. The
decision reflects both the extraordinary poverty of the company and the
extraordinary confidence with which its leaders approached their new
ventures in Virginia.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account