Virginia Company of London

Question 1

Merchant

Answer 1

Occupation is the purchase/sale of goods for profit
Trader in good not manufactured by their own hand

Question 2

Medieval guilds

Answer 2

Developed into merchant monopolies

Question 3

Merchant guilds

Answer 3

Association of merchants in a particular town

Question 4

Regulated companies

Answer 4

Usually foreign trade
Established by Crown Charter
Meant it had a constitution and a centralised governing force

Question 5

Later 16thC

Answer 5

Joint-stock
Members were shareholders

Question 6

Joint-stock shareholders

Answer 6

Known as adventurers
Contributed capital
Purchased shares from which they derived profit

Question 7

Joint-stock was

Answer 7

Business owned by its investors
Investors owned shares based on quantity of stock purchased

Question 8

Risks of joint-stock

Answer 8

Adventuring was expensive
Potential for huge profit but also huge risk
Many ships never completed the voyages

Question 9

If a number of people pooled their wealth for a common purpose…

Answer 9

Small share would be lost by each investor if an enterprise failed
Shared risk

Question 10

Edward Sharpe argued for Britain to develop a joint-stock in…

Answer 10

Herring fishing

Question 11

Sir William Harvey was

Answer 11

Already running a herring fishing enterprise

Question 12

Noblemen/gentry/men of status invested in herring fishing

Answer 12

Join together with Harvey
Operate one boat each

Question 13

James I and herring fishing

Answer 13

Gave them the crown’s blessing to encourage the enterprise
Turned them into a company by a scheme called incorporating
Granted them letters patent as a corporation

Question 14

Corporation

Answer 14

Given privileges, immunities and authority to run own affairs
Appointed people to run it
Included people like treasurers

Question 15

The stock

Answer 15

As more stocks came in, more boats were provided
This was the joint-stock of the company

Question 16

Sharpe’s scheme vs the East India Company

Answer 16

EIC had a common treasury
Adventurers once brought in were continued in bank
Often additional contributions called for

Question 17

Background to the Company
1604

Answer 17

James I made peace with Spain

Question 18

Background to the Company
1605

Answer 18

Christopher Newport made another exploration to the coast of North America

Question 19

Christopher Newport

Answer 19

Had commanded the mission of 1590

Question 20

James I granted

Answer 20

A charter to the Virginia Company
Appointed royal council to oversee company ventures

Question 21

First charter of the Virginia Company

Answer 21

1606

Question 22

No distinction

Answer 22

Between northern and southern awards to ‘Virginia’ and other places

Question 23

Terms of the charter

Answer 23

Permitted to establish a colony of 100 square miles between 34th and 45th parallels

Question 24

1609

Answer 24

Two distinct enterprises
London Company (in Virginia)
Plymouth Company (further north)

Question 25

Setting up Company means

Answer 25

Activity on each side of the Atlantic

Question 26

In London the Company held

Answer 26

Meetings of the ‘court’ of the Virginia Company

Question 27

In Virginia, the Company oversaw

Answer 27

Activities of those employed by the Company

Question 28

First Voyage Captain

Answer 28

Christopher Newport
Veteran of privateering against Spain and Portugal
1606, principal mariner in Royal Navy
Chosen by the Company to lead the first voyage

Question 29

Ships from the first voyage

Answer 29

The Discovery
The Godspeed
The Susan Constant

Question 30

First voyage landed

Answer 30

Cape Henry in April 1607

Question 31

On landing in Virginia

Answer 31

They opened the instructions from the Company

Question 32

Instructions said

Answer 32

Find a safe port on a navigable river to travel further in land
Divide the 120 men in groups
If you find high ground, see if it’s a spring (that runs to the east sea)

Question 33

Groups the men were split into

Answer 33

40 to build a storehouse
30 to prepare ground, sow corn and root-crops
10 as sentinel at Cape Henry
40 to go to Newport and explore river
When high ground was spied, 20 men to search for minerals

Question 34

Indigenous population

Answer 34

Not offend them
Trade with them - particularly for corn

Question 35

Why could the settlers not settle near woods?

Answer 35

You will not be able to clear 20 acres in a year
Enemies could hide in the woods

Question 36

Settlers and sailors

Answer 36

Do not let sailors that travel for wages hamper trade

Question 37

Carpenters

Answer 37

Had to work on public buildings/for the Company even if they were privately employed