Page:Economic History of Virginia Vol 2.djvu/300

This page needs to be proofread.

the colonists.^[1] In the meanwhile, much complaint seems to have been made of an inclination on the part of the Cape Merchant to set a higher value on the articles in his charge than he was authorized to do, an indirect means of reducing the value of the planters’ tobacco below the prices laid down by the Assembly, acting under orders from the Company. The complaint coming to the knowledge of the latter, the Governor and Council were commanded to examine his invoices to find out whether he had disposed of the goods sent him to be bartered, at higher figures than he could justify in his instructions.^[2] It would seem that the legal rates at which the tobacco was to be exchanged, namely, three shillings for that of the best quality and eighteen pence for that of the worst, were too much, and that the Cape Merchant in raising the prices of the articles in the Magazine was merely seeking to

↑ Orders and Constitutions, 1619, p. 23, Force’s Historical Tracts, vol. III. The “Society of Particular Adventurers for Traffic with the People of Virginia in Joint Stock” was dissolved Jan. 22, 1619-20. The minute of the Company showing this is as follows: “Concerning the Magazine touching the joynt . . . whether it should continue or not, after some discussion given for the maintenance of it no longer, it was generally agreed by ye adventurers that it should be dissolved, which by raising of hands being put to ye question was ratified, now ordering that for ye 5200 and odd pounds worth of goods here remaining, rated at the cost of first penny, shall first be put off before any of ye same kind shall be sent.” Collingwood MS. Records of London Company, in Congressional Library, vol. I, p. 64. It was declared February 2, that as the Magazine, that is to say, the Society of Particular Adventurers, had voluntarily dissolved itself, “now matters of trade are free and open for all men.” Ibid., p. 72. It should be remembered that the supplies which had since 1616 been dispatched to Virginia had been sent by this Society, which had been granted a monopoly recognized by all except during Argoll’s administration. Magazines continued to be forwarded to the Colony, but they were the property of particular associations of subscribers, united in temporary joint stock.
↑ Abstracts of Proceedings of the Virginia Company of London, vol. I, p. 55.

[1] Orders and Constitutions, 1619, p. 23, Force’s Historical Tracts, vol. III. The “Society of Particular Adventurers for Traffic with the People of Virginia in Joint Stock” was dissolved Jan. 22, 1619-20. The minute of the Company showing this is as follows: “Concerning the Magazine touching the joynt . . . whether it should continue or not, after some discussion given for the maintenance of it no longer, it was generally agreed by ye adventurers that it should be dissolved, which by raising of hands being put to ye question was ratified, now ordering that for ye 5200 and odd pounds worth of goods here remaining, rated at the cost of first penny, shall first be put off before any of ye same kind shall be sent.” Collingwood MS. Records of London Company, in Congressional Library, vol. I, p. 64. It was declared February 2, that as the Magazine, that is to say, the Society of Particular Adventurers, had voluntarily dissolved itself, “now matters of trade are free and open for all men.” Ibid., p. 72. It should be remembered that the supplies which had since 1616 been dispatched to Virginia had been sent by this Society, which had been granted a monopoly recognized by all except during Argoll’s administration. Magazines continued to be forwarded to the Colony, but they were the property of particular associations of subscribers, united in temporary joint stock.

[2] Abstracts of Proceedings of the Virginia Company of London, vol. I, p. 55.

[1]

[2]