Charters of the virginia company of london
Virginia Corporation (Author of The Three Charters of the Virginia Company of London With Seven Related Documents; 1606-1621)
Virginia Company of London
England was a relatively poor nation in the late s, with a ruler willing to send privateers against other colonial powers but unwilling to risk public monies on a standing English colony. Wealthy London gentlemen would buy a share in The Virginia Company, thus giving it the capital monies to start and supply a colony, and they hoped the colony returned a profit to them. The Company had the power to appoint a Council of leaders in the colony, a Governor, and other officials. It also took the responsibility to continually provide settlers, supplies, and ships for the venture. The initial public reaction to the Company was favorable, but as the mortality rate at Jamestown rose and the prospect for profit grew dim, financial support for it waned. The leadership resorted to lotteries and went so far as to attempt silkworm production at Jamestown.
The First Virginia Charter Introduction Virginia received three charters, one in , another in , and the third in The differences among the three charters lie primarily in the territorial jurisdiction of the company, not in the right to govern the colony. In , the "sea to sea" provision was inserted, and in jurisdiction was extended eastward from the Virginia shores to include islands, such as Bermuda, in the Atlantic. From the outset the Virginia Company was granted the authority to govern its own colony. A ruling council in England, composed of members of the joint-stock company who were usually merchants of great distinction, was formed immediately after King James I granted the charter of
Log in to My Virginia.
The London Company also called the Virginia Company of London was an English joint-stock company established in by royal charter by King James I with the purpose of establishing colonial settlements in North America. The territory granted to the London Company included the eastern coast of America from the 34th parallel Cape Fear north to the 41st parallel in Long Island Sound., Such a venture allowed the Crown to reap the benefits of colonization—natural resources, new markets for English goods, leverage against the Spanish—without bearing the costs. Investors, meanwhile, were protected from catastrophic losses in the event of the project's failure.
Its shareholders were Londoners, and it was distinguished from the Plymouth Company , which was chartered at the same time and composed largely of men from Plymouth. In December the Virginia Company sent out three ships carrying approximately colonists led by Christopher Newport. After some initial hardships, the colony took root, and the Virginia Company itself was reconstituted on a broader legal basis. A new charter in reorganized its governing structure. It consisted of the governor and his council, named by the company in England, and the House of Burgesses , made up of two burgesses from each of the four boroughs and seven plantations. The court ruled against the Virginia Company, which was then dissolved, with the result that Virginia was transformed into a royal colony. Virginia Company.