Saturday, April 21, 2012

Voyage of 1614

The treasury of the Virginia Company was empty by 1613 and the situation was dire. During the spring of 1614, the company drew up a tract showing the condition of the Colony and setting foth the plan for a great lottery to be issued, with copis sent to all city companies in London, a strong appeal being made to induce their members to adventure in the proposed scheme. In October of 1614, the ship Elizabeth left England for Virginia with provisions of different kinds, purchased with funds raised by the Virginia Company by pledging its credit in the expectation that the amount would be refunded by the payment of claims against those members who had refused to deliver the sums for which they were bound over with their signatures, or who had deferred doing so for an indefinite period of time.

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