business enterprises. The parties to the patents were capitalists, who
had the right to settle colonists and servants, impose duties and coin
money, and who were to pay a share of the profits in the enterprise to
the Crown.

The London company, under the name of Jamestown, established the
beginning of the first English town in America, May 13, 1607, with one
hundred colonists. Captain John Smith was the genius of the colony, and
it enjoyed a certain prosperity while he remained with it. A curious
incident of its history was the importation of a large number of young
women of good character, who were sold for one hundred and twenty, or
even one hundred and fifteen, pounds of tobacco (at thirteen shillings a
pound) to the lonely settlers. The Company failed, with all its
expenditures, some half-million dollars, in 1624, and at that time,
numbered only two thousand souls--the relics of nine thousand, who had
been sent out from England.

Though the Plymouth Company had obtained exclusive grants and
privileges, they never achieved any actual colony. A band of
independents, numbering one hundred and two, whose extreme principles
led to their exile, first from England and then from Holland, landed at
a place called New Plymouth, in 1620. Half died within a year.
Nevertheless, the Pilgrims, as they were called, extended their
settlement. The distinction of the Pilgrims at Plymouth is that they
relied upon themselves, and developed their own resources. Salem was
begun in 1625, and for three years was called Naumkeag. In 1628, John
Endicott came from England with one hundred settlers, as Governor for
the Massachusetts Colony, extending from the Charles to the Merrimac
river. A royal charter was procured for the Governor and Company of
Massachusetts Bay in New England, and one thousand colonists, led by