Page:Economic History of Virginia Vol 1.djvu/302

 CHAPTER V

AGRICULTURAL DEVELOPMENT, 1624-1650

dissolution of the London Company in 1624 brought to a close the plantation era in the history of the Colony. Although the revocation of the letters patent was precipitated by the discontent of an unscrupulous faction, and by the anxiety of the King to suppress a corporation, the spirit of which was promotive of the growth of popular rights, still the effect of the step was ultimately highly favorable to the welfare of the planters. At first they were disposed to look upon the change as an unmixed calamity, anticipating that the destructive influences which had received a practical illustration in the administration of the Company during the earlier and greater part of its existence would again become dominant. So far did this apprehension extend that some of the planters offered their lands for sale, and made immediate preparations for abandoning the country, regarding this as the only means of saving their property from the rapacious hands of the Argolls, who, it was expected, would be appointed under the new form of government to the head of affairs in Virginia. The authorities of the Colony, when they were informed of the dissolution, drew up a petition to the King imploring him not to suffer them to be placed under the control of Sir