These were extraordinary precautions. They were probably justified by the circumstances to be met, but it is obvious that so cumbrous and dilatory a system of transferring a title to land could only have continued during the infancy of the Colony. Growth of population, which called for ever-increasing facilities in the rapid acquisition of an interest in the soil, would have broken it down even if the letters patent of the adventurers had not been recalled.
When the Company made a grant of land in Virginia, the indenture came up first for examination in a special committee that owed its existence to a standing rule. If there were palpable reasons for throwing it out, this was done, but if no objection could be advanced against it, from any point of view, it was endorsed as approved and laid aside for ratification at the next succeeding Quarter Court. If not rejected at this general meeting of the adventurers, it was forwarded to the Governor and Council in the Colony. The counterpart of the patent bearing the seal and signature of the grantee was preserved in the great chest in which all the evidences and muniments of title belonging to the corporation were carefully guarded. There were several distinct grounds upon which a grant of land was made by that body. The first was the purchase of a bill of adventure,[1] the price of which was set at
- ↑ The following is a copy of the bill of adventure: “Whereas —— paid in ready money to Sir Thomas Smythe, Knight, treasurer for Virginia, the sume of —— adventure towards the said voyages. It is agreed that for the sume —— the said —— shall have ratably according to —— adventures —— full part of all such lands, tenements and hereditaments as shall from time to time be there recovered, planted and inhabited, And of all such mines and minerals of gold, silver and other metalls or treasure, pearls, precious stones or any other kind of wares or merchandize commodities or proffitts whatsoever which shall be obtained or gotten in the said voyage according to the porcion of money by —— employed to that use in as ample manner as any other adventurer thereon shall receive for the summe.” See Brown’s Genesis of the United States, p. 471. The bill of adventure was frequently introduced into the patent. See Virginia Land Patents, vol. 1623-1643, p. 117.
