in England for ten years an exclusive trade to that
portion of West Africa lying between the Senegal and Gambia rivers.
The great slave and gold producing country of the Gold Coast remained
open to all traders. It was therefore evident that, instead of
continuing the slave raiding projects of Hawkins, the company intended
to resume the exchange of English manufactures for African products.
According to its charter the company was not required to pay duties in
England either on imports or exports.[17] Although nothing is known of
the success of this company, the patent was regarded as of sufficient
importance for the earl of Nottingham and others to obtain a
continuation of the monopoly.[18]

Since the charter of these Senegal adventurers did not prevent anyone
from resorting to the Gold Coast and the regions to the east thereof,
two voyages were made to Benin, one in 1588 and another in 1590.[19]
In 1592 certain English merchants received a patent from the queen
authorizing them to trade to certain specified portions of Africa.[20]
The trade to Africa continued in this desultory fashion until 1618. At
that time a patent comprising the whole explored western coast of
Africa south of the territory of the Barbary Company was granted to
some thirty persons, among whom the most important was Sir William
St. John, who was said to have built the first English fort in
Africa.[21] The early years of their trade, which consisted in the
exchange of English for African products, was especially unfortunate.
Vessels were either lost or brought back small returns. After 1621 it
was difficult to procure fresh additions of capital. To add to this
trying situation, the House of Commons attacked the company's monopoly
and, later, voted it to be a grievance. Thereafter, although the
company sometimes issued licenses for the African trade, the
interlopers who resorted to Africa quite freely, usually did not deem
it necessary to obtain them.[22]

The moving spirit of the next company, which received a patent in
1631, was Sir Nicholas Crispe, who had been a successful interloper
during the life of the previous company. In 1624 he had built the
first permanent English settlement at Kormentine. Although not
incorporated, this company enjoyed for thirty-one years a monopoly of
trade to all the region lying between Cape Blanco and the Cape of Good
Hope. Just previous to the Civil War Charles I confirmed the charter
for twenty years. The company