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Anno Dom: · 1628.

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FTER Mr. Alertons arivall in England," he aquainted them with his comission and full power to conclude the

forementioned bargan and purchas;? upon (154) the veiw wherof, and the delivery of the bonds for the paymente of the money yearly, (as is before mentioned,) it was fully concluded, and a deede' fairly ingrossed in partchmente was delivered him, under their hands and seals confirming the same. Morover he delte with them aboute other things according to his instructions. As to admitte some of these their good freinds into this purchass if they pleased, and to deal with them for moneys at better rates, etc. Touching which I shall hear inserte a letter of Mr. Sherleys, giving light to what followed thereof, writ to the Gov[erno]r as followeth.*

Sir: I have received yours of the •26. of May by Mr. Gibs, and Mr. Goffe, with the barrell of otter skins, according to the contents; for which I got a bill of store, and so tooke them up, and sould them to

1 “In the summer or autumn of 1627." Deane.

See p. 4, supra. 3 Nov. 6, 1627, Page 238. - - BRADFORD. Reference is here made to the folio of the original manuscript.

• Deane conjectures that this letter should be dated 1627.

5 Thomas Goffe, a merchant of London, and adventurer in the New Plymouth settlement, and named deputy governor of the company in the patent of Massachusetts Bay. The New Plymouth plantation owed him some money, for which the Company of the Massachusetts Bay agreed with that of New Plymouth to deliver "six sowes with pigg, for which they are to be allowed gl in accompt of what they owe vnto Mr. Goffe, Deputie." Craddock to Endecott, April 17, 1629. Mass. Col. Rec., I. 392. He met with misfortunes in 1630. Winthrop, 1. * 37; 4 Mass. Hist. Collections, VI. 14.

O

geather at 78li. 125. sterling;' and since, Mr. Allerton hath received the money, as will apear by the accounte. It is true (as you write) that your ingagments are great, not only the purchass, but you are yet necessitated to take up the stock you work upon; and that not at 6. or.8. per cent. as it is here letout, but at -30..40. yea, and some at.50. per cent. which, were not your gaines great, and Gods blessing on your honest indea[v]ours more then ordinarie, it could not be that you should longe subsiste in the maintaining of, and upholding of your worldly affaires. And this your honest and discreete agente, Mr. Allerton, hath seriously considered, and deeply laid to mind, how to ease you of it. He tould me you were contented to accepte of me and some

1 1628. Rec. out of the Marmaduck, by John Gibbs, 220 otters' with mincks' and quash skins, sold at

£78. 12. O Rec. out of the Whitt Angell, by Christopher Burkett, 494 lb. 8 d. beaver, sold at 155. 6d. amounts to

383. 14. 3 Rec. out of the Pleasure, Wm. Peeters, master, 209 lb. 12d. beaver, at 16s. 4d.

171. 5. II 40 otters' skins sold together

29. o.

200. 5. II Rebated, because they were exceeding wet, and doubtful some mistake in the weight, the sum of

2. 15. 3 So they yielded, to be put to account

197. 10. 8

659. 16. 11 Sherley's account in 3 Mass. Hist. Collections, 1. 201. The statement may have been prepared in 1631, or later, as the first recorded voyage of the White Angel was made in that year, and beaver was sent by her (p. 110, infra). No record of the Pleasure's voyage has been found.

» Sherley's accounts for 1628 show that the rates of interest charged were heavier than the letter indicates.

“Memorandum. The Company stand indebted unto these several men following, for principal moneys borrowed of them as foll: To John Beauchampe H bond bearing date the 18th day of November,

1628, payable on the 25th day of October, 1629, being principal money only, the sum of

160. O. O To James Sherley, H bond dated the 18th of November, 1628, payable on the 25th of October, 1629, being principal money only

80. O. O To Richard Andrewes, bond dated the 18th of November, 1628, payable the 15th of October, 1629, being principal money

40. O. O 280. o.

few others, to joyne with you in the purchass, as partners; for which I kindly thanke you and all the rest, and doe willingly accepte of it. And though absente, shall willingly be at shuch charge as you and the rest shall thinke meete; and this year am contented to forbear my former soli. and .2. years increase for the venture, both which now makes it 8oli. without any bargaine or condition for the profite, you (I mean the generalitie) stand to the adventure, outward, and homeward. I have perswaded Mr. Andrews and Mr. Beachamp to doe the like, so as you are eased of the high rate, you were at the other.2. yeares; I say we leave it freely to your selves to alow us what you please, and as God shall blesse. What course I rune, Mr. Beachamp desireth to doe the same; and though he have been or seemed som what harsh heretofore, yet now you shall find he is new moulded. I allso see by your letter, you desire I should be your agente or factore hear. I have ever found you so faithfull, honest, and upright men, as I have even resolved with my selfe (God assisting me) to doe you all the good lyeth in my power; and therfore if you please to make choyse of so weak a man, both for abillities and body, to performe your bussines, I promise (the Lord enabling me) to doe the best I can according to those abillities he hath given me; and wherin I faile, blame your selves, that you made no better choyce. Now, because I am sickly, and we are all mortall, I have advised Mr. Allerton to joyne Mr. Beachamp with me in your deputation, which I conceive to be very necessary and good for you; your charge shall be no more, for it is not your salarie makes me undertake your (156) · bussines. Thus comending you and yours, and all

These three men supplied Allerton with £200, and presumably for two years, as his commission directed (vol. 1. p. 451). But the debt was incurred in 1626, and had already run for two years at thirty per cent a year. The interest is now (1628) made part of the capital sum.

It must be remembered that Sherley was a goldsmith, and the goldsmiths were the bankers of that time. The great influx of precious metals into Spain from the New World passed by way of trade to other nations, and gave the means for forming loanable capital, to be employed in industries and foreign commerce. The merchant no longer limited his operations to his own capital, but traded also on borrowed capital, and it was the goldsmiths who constituted the lending class. Through them developed the methods of modern banking.

155 omitted in original ms.

1

Gods people, unto the guidance and protection of the Allmightie, I ever rest,

Your faithfull loving freind, London, Novsember) 17. 1628.

JAMES SHERLEY. Another letter of his, that should have bene placed before.

We cannot but take notice how the Lord hath been pleased to crosse our proseedings, and caused many disasters to befale us therin. I conceive the only reason to be, we, or many of us, aimed at other ends then Gods glorie; but now I hope that cause is taken away; the bargen being fully concluded, as farr as our powers will reach, and confirmed under our hands and seals, to Mr. Allerton and the rest of his and your copartners. But for my owne parte, I confess as I was loath to hinder the full confirming of it, being the first propounder ther of at our meeting; so on the other side, I was as unwilling to set my hand to the sale, being the receiver of most part of the adventures, and a second causer of much of the ingagments; and one more threatened, being most envied and aimed at (if they could find any stepe to ground their malice on) then any other whosoever. I profess I know no just cause they ever had, or have, so to doe; neither shall it ever be proved that I have wronged them or any of the adventurers, wittingly or willingly, one peny in the disbursing of so many pounds in those · 2 · years trouble. No, the sole cause why they maligne * me (as I and others conceived) was that I would not side with them against you, and the going over of the Leyden people. But as I then card not, so now I litle fear what they can doe; yet charge and trouble I know they may cause me to be at. And for these reasons, I would gladly have perswaded the other

1 In the Letter Book this letter immediately follows what is printed as a note on p. 7, supra, and is introduced by the following words and address: “A letter of Mr. Sherley's to myself upon this conclusion, as followeth: To his very loving and much respected friend, Mr. William Bradford, Governor of Plymouth, in New-England, these.

“Most WORTHY AND BELOVED SIR, I have received your letter of the 14th of June last, by your and my loving friend, Mr. Allerton, wherein it pleaseth you to express more thankfulness than I have deserved; I confess my desire is much larger than my power, to do you and those good friends with you, the good I would.”

: In the Letter Book it reads, "and as farr as our powers will reach, confirmed.” ; "the best part of five thousand pounds.” Letter Book.

“malice,” in Letter Book.

•4:' to have sealed to this bargaine, and left me out, but they would
not; so rather then it should faile, Mr. Alerton having taken so much
pains, I have sealed with the rest; with this proviso and promise of his,
that if any trouble arise hear, you are to bear * halfe the charge.
Wherfore now I doubt not but you will give your generallitie good
contente, and setle peace amongst your selves, and peace with the
natives; and then no doubt but the God of Peace will blesse your
going out and your returning, and cause all that you sett your hands
unto to prosper; the which I shall ever pray the Lord to grante if it
be his blessed will. Asuredly unless the Lord be mercifull unto us and
the whole land in generall, our estate and condition is farr worse then
yours. Wherfore if the Lord should send persecution or trouble hear,
(which is much to be feared, and so should put into our minds to flye
for refuge, I know no place safer then to come to you, (for all Europ
is at varience one with another, but cheefly with us,) not doubting
but to find shuch frendly entertainmente as shall be honest and con-
scionable, notwithstanding what hath latly passed. For I profess in
the word of an honest man, had it not been to procure your peace
and quiet from some turbulent spirites hear, I would not have sealed
to this last deed; though you would have given me all my adventure
and debte ready downe.? Thus desiring the Lord to blesse and prosper
you,
I cease ever resting,

Your faithfull and loving freind,
to my power,

JAMES SHERLEY.8

Des: 27

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1 The five were John Pocock, John Beauchamp, Robert Keayne, Edward Bass and James Sherley. See p. 5, supra. ? “Mr. Allerton knoweth.” Letter Book.

3 “(As I am even ashamed to relate).” Letter Book. 4 “be at.” Letter Book.

o “self." Letter Book. 6 “And that for Jesus Christ his sake I acknowledge myself much obliged to you, and others with you, for your good counsel and loving respect to my kinsman; I pray you continue the same still and set it as on my score to requite when occasion is offered. My wife and I most kindly remember our loves unto you and Mrs. Bradford, desiring you to remember us in your prayers, for assuredly,” etc. Letter Book.

7 And this I leave to your serious consideration, not questioning but you will approve yourselves faithful and honest before God and men." Letter Book.

8 “The above letter was written on the reverse of page 154 of the original manu

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