o stock, in the sense in which that word is used in
speaking of money corporations. What money was needed to procure the
charter, to conduct the business under it, and carry out the scheme of
colonization was obtained neither by the sale of negotiable securities
nor by assessment, but by voluntary contributions from individuals of
the company, and possibly from others, in such sums as suited the
contributors respectively.

These contributions made up what is called in the records the joint
stock, designed to be used in providing vessels and stores for the
transportation of settlers. It is true that these contributors, called
Adventurers, had more or less expectation of being remunerated for their
outlay; and for this purpose two hundred acres of land within the limits
of the patent were pledged to them for every fifty pounds subscribed, in
addition to a proportional share of the trade which the government of
the company was expecting to carry on. But a share of the profits of
trade, as of the land, was to be theirs, not because they were freemen,
but because they were contributors, which many of the freemen were not,
and perhaps others besides freemen were.

When the transfer of the charter and of the government to America had
been resolved upon, it was agreed that at the end of seven years a
division of the profits of a proposed trade in fish, furs, and other
articles should be made among the Adventurers agreeably to these
principles; and the management of the business was committed to a board
consisting of five persons who expected to emigrate, and five who were
to remain in England. But this part of the engagement appears to have
been lost sight of; at least never to have been executed. It is likely
that the commercial speculation was soon perceived to be unpromising;
and the outlay had been distributed in such proportions that the loss
was not burdensome in any quarter. The richer partners submitted to it
silently, from public spirit; the poorer, as a less evil than that of a
further expense and risk of time and money.

From the ship Arbella, lying in the port of Yarmouth, the Governor and
several of his companions took leave of their native country by an
address, which they entitled "The Humble Request of his Majesty's Loyal
Subjects, the Governor and the Company late gone for New England, to the
Rest of their Brethren in and of the Church of England." They asked a
favorable construction of their enterprise, and