DISSOLUTION OF THE LONDON COMPANY.
Ditterences between the king and Parliament had produced two powerful
political parties in England—the Royalists, supporting the king, and
Patriots, defending Parliament. To the latter belonged the greater
number of the London Company, and, as a political measure, the king
determined to dissolve the company by declaring its charter null and
void. It was true that the operations of the company, in a financial
point of view, had been a failure. In eighteen years they had expended
a half million dollars, and had sent 9,000 emigrants to Virginia, only
2,500 of whom were now in the colony. The annual exports did not
exceed 20,000 pounds.
We have not space to follow in detail the proceedings, legal and
otherwise, of the crafty James. He sent John Harvey, John Pory,
Abraham Piersey, Samuel Mathews and John Jefferson, commissioners
to "make more diligent inquiry touching divers matters, which concerned
the State of Virginia." The commission arrived in Virginia
early in the year 1624, and after remaining a short time returned and
reported the company in a state of bankruptcy, and the government of
the colony in a very bad state, with no prospect of an improvement under
the present management. James caused a quo warranto to be issued
against the company, and the cause was tried at the Trinity term of
King's Bench, for the year 1624. The judges were dependent upon the
king for their places, and it was not difficult to determine the result of a
trial in the result of which James had such a deep interest. Chief
Justice Ley rendered the decision against the corporation, and the London
Company ceased to exist. But their mission was filled; the foundation
of the Old Dominion was securely laid, and it only remained for
others to rear the structure.
