When tobacco was first planted in Jamestown, Spanish tobacco was selling for eighteen shillings per pound. Virginia tobacco was inferior in quality, but it was assessed in England at ten shillings per pound. On the basis of these high prices the Virginia Company of London agreed to allow the Virginia planters three shillings per pound, in trade at the magazine in Jamestown, for the best grades. Even though it seemed that the London Company was getting the lions share, these prices proved to be very profitable for the colonists and the infant tobacco industry increased very rapidly. During the period 1615-1622 tobacco exports increased from 2,300 to 60,000 pounds, and by 1630 the volume had risen to 1,500,000. Meanwhile prices had fallen as rapidly as production and exports had increased. In 1625 tobacco was selling for about two shillings per pound, but in 1630 merchants were reported to be buying it for less than one penny per pound. It was quite obvious that the fall in prices was due to overproduction. The English first attempted to alleviate the condition in 1619 through monopolistic control. Negotiations were conducted with the Virginia Company of London, Henry Somerscales, and Ditchfield in 1625. All were opposed by the colony, except that of the London Company, because the colonists thought that the various proposals would benefit the King and a small group of court favorites at the expense of the planters. The next move was made by the colony. In an attempt to restrict the production of tobacco, Governor Wyatt ordered that production be limited to 1,000 plants per person in each family in 1621. These same instructions provided that only nine leaves were to be harvested from each plant. Similar laws were enacted in 1622 and again in 1629, but these laws were probably not strictly enforced as prices failed to improve. Undaunted by failure in its first attempt to cope with the situation, the General Assembly made several attempts at price fixing. In 1632 tobacco prices in the colony were fixed at six pence per pound in exchange for English goods; in 1633 it was increased to nine pence. The 1639 crop was so large that the legislature ordered all of the bad and half of the good tobacco destroyed; merchants were required to accept fifty pounds of tobacco per 100 of indebtedness. English goods were to be exchanged for tobacco at a minimum rate of three pence per pound. The minimum rate of the 1640 crop was fixed at twelve pence. Such legislation failed to meet with the approval of the home government and in 1641 tobacco averaged about two pence per pound.