The Origins of the British Colonies by George Beer

Author:George Beer
Language: eng
Format: epub
Publisher: Pronoun

CHAPTER VIII.THE EXCLUSION OF FOREIGNERS FROM THE COLONIAL TRADE

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IT WAS A CARDINAL MAXIM of European policy that the trade of the various colonial empires should not be opened to merchants of foreign nationality; and at an early date this principle became part of English practice. Historically it was a direct outgrowth of the monopolistic privileges conceded to the trading companies. The charters that Elizabeth granted to these bodies gave them, as against other Englishmen, the exclusive right of carrying on commercial operations within a well-defined area. Thus the trade to Russia, to the Levant, to Barbary, to Guinea, and to the East Indies was monopolized by companies protected by royal patents. These privileges were not granted as a result of mere favoritism, but mainly because it was realized that, under the prevailing conditions, England could in no other way so rapidly develop her foreign commerce.

The Atlantic and Pacific of the sixteenth and seventeenth centuries were not the peaceful highways of the present age. Except fitfully, the reign of law did not extend beyond European waters. Not only was there always present the grave risk of an attack from pirates, but in addition the commercial rivalry of Europeans in distant seas often led to armed conflicts, without to any marked extent disturbing the peaceful relations of the interested European powers. Under these conditions, such foreign commerce had to be conducted in armed vessels. Furthermore, in some instances trading stations had to be established, while in others considerable expense was necessary in order to secure the mere privilege of commercial intercourse. Thus the Muscovy Company paid the cost of the Russian embassies to England, as well as that of those sent by England in return. The large profits required to meet these extraordinary charges could not have been earned, if the trade had been opened to the free competition of all Englishmen, and consequently exclusive privileges were essential to the success of these companies.

The work of colonization likewise necessitated the employment of considerable capital. The colonizing companies paid the heavy cost of transporting the settlers, of furnishing them with the essential implements and tools, and subsequently of supplying food and other necessaries, until ultimately, after a long interval, the settlement became self-supporting. In addition, the patentees had to provide for the government of the colony, and to erect public buildings, as well as fortifications for its defence. In 1621, the Virginia Company stated officially that it had spent over £100,000 “withoutt returne either of profitt, or of any pt of the principall it selfe.” Similarly, in 1622 the Bermuda1 Company estimated that the amount invested by it was in excess of £66,ooo. From the standpoint of the age, these were very considerable amounts. Analogous large sums were also spent in connection with the founding of the other colonies. As a rule these undertakings, if viewed as investments, turned out most disastrously. Thus in 1625, the adherents of the Virginia Company asserted that their colony and that in the Bermudas had been founded

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