In 1616, the period of seven years during which the stock of the Company to be accumulated by a monopoly of the trade of the Colony was to remain undivided, drew to a close. The returns from the enterprise had been so small,[1] that the profits, which were to be allowed to grow, were never realized; those who had adventured their money in supporting it, found their recompense only in the distribution of lands, conveyed in successive dividends as the country was cleared of forest. In this subdivision, all persons shared in proportion to their bills of adventure, whether they had invested many years before or but recently.[2] When the period of seven years ended in 1616, the Company was compelled, owing to the lack of funds in its treasury, to adopt a new method for furnishing the colonists with the different articles which they were forced to import to meet their necessities. There was erected what was described as the “Society of Particular Adventurers for Traffic with the People of Virginia in Joint Stock.” Instead of the supplies being forwarded in the name of the Company, they were now sent in the name of the Magazine; to which the members could contribute such sums as they were willing to venture in their individual capacity. It was practically an association of private persons, among whom were divided the returns in proportion to the amounts which they risked. The general Company was not prevented from investing the common funds in the Magazine; if it did so, it shared in the profits and losses like an ordinary adventurer.[3]
