The records of the Virginia Company of London

First in the yeare 1619 there came neare vpon 70000: weight of Tobacco
from the Sum̃er Islandℯ: great quantities whereof were sold for twelue
pence the pound, and generally 2s the pound was the highest price that
it was sold at.

There came the end of that yeare; and the begininge of the yeare 1620
for the Account of the Magazine for Virginia about 26000: weight: whereof
about 20000: weight was bought by Alderman Johnson and his partners
for lesse then 2s 3d a pound: and generally one with another the Tobaccoes
returned from Virginia that yeare were not sold for 2s a pound or not
aboue.

So that the estate of the Companies was that indeed except some Retaylors,
there was not generally made aboue 2s a pound towardℯ all Charge.
And this price was likely to decay euery yeare as greater abundance of
Tobacco came in: wherevpon in the yeare 1620 in March, there was a
Charter sent to the Colonie in Virginia from the Companie here, where-
in they directly declared vnto them, that they should not expect more
then twelue pence a pound in Virginia.

Nowe putting this to be § the § true state that Tobacco was solde, this
Contract will put vs in better case: for then

for then 3 pound sent home at 2s made	6s
But the King had of it	3s
wch was to be layd downe in ready money before the Owner might haue his To	3s
bacco wch doun vpon his 3 pound he only cleared

Nowe bringing home 3 pound of Tobacco, the King hath one And then the two other being sold p̱	4s
whereof the King hath 1s And then the owner cleares	3s.

So that in this case the owner hath asmuch money and a great deale of
advantage, in reguard that by the former Course to a bad Com̃odity, he
layeth downe half money, whereas here, he layd downe but a sixt.

[2] But it perhapps it wilbe said that this was the Lowest price rate of
the Tobacco and that there was sold at 2s 6d or 3s p̱ pound: then the com-
parison stands thus.

3 pounds of Tobacco at	2s	6d
was sold for	7	6	Nowe of 3 pound brought the King hath one, the other two being sold for—2s 6d p̱ pound	5s
The King had	3	0	wherein the King hath	1s	0
So then remayned to the Owner but	4	6	So the owner hath but	4s	0

And if in case the Contract makes Tobacco to yeald Lesse by—3d p̱ pound.

3. pound sold at 3s p̱ pound yeald	9s	Nowe the King hath of 3 pound one and the other 2 pounds sold at 2s yeald	6s
the King had	3s	But the King is to haue for Custome	1s
then there remayned to the owner	6s	Then there remaynes to the owner but	5s

So this Tobacco formerly solde for 3s p̱ pound, wch was the highest price,
and whereof but a verie litle quantity, this Contract yealdes lesse—6d p̱
pound. But for that 6d the Company by this Contract hath the sole
sale and sole Importac̃on, whereby vndoubtedly the price wilbe doubly
raysed: so that this Contract bettereth the Company.

[Indorsed:] A comparison of the former state of the Tobacco with what
is by the Contract.

University of Virginia Library

CCLXXV. Statement of Advantages to Virginia and Somers Islands Companies of the Tobacco Contract 1622/3 (?)

CCLXXV. Statement of Advantages to Virginia and Somers Islands
Companies of the Tobacco Contract
1622/3 (?)