Page:Economic History of Virginia Vol 1.djvu/34

 few persons. A public fund, in prescribing the limit of individual investment, diminished the chance of heavy individual losses in carrying through all enterprise which had colonization in view. Such losses, if incurred at all, fell upon a large instead of a small number of persons, and being generally distributed, were borne without serious inconvenience.

Turning from the special advantages to accrue from the assumption by the public wealth of the work of colonization, the author of the &#8220;Reasons&#8221; dwelt upon those aspects of an undertaking to throw open a virgin country to population and the arts, which were common to a private and public enterprise. It would enlarge the trade of the kingdom; it would increase the number of ships and mariners; it would create a field in the control of England where naval stores could be acquired; it would furnish a new market for the disposal of English clothing; it would disperse among kindred, instead of among enemies and lukewarm friends, the English gold used in purchasing the commodities which the English soil was incapable of producing.

Thirty years previous to the composition of this remarkable paper, a number of the citizens of the Western counties had entered a petition with the Lord High Admiral for permission to adventure themselves and their merchandise in a scheme looking to the discovery of new trades, which, in addition to enlarging the bounds of the Christian religion, would promote the beneficial utterance of the commodities of England, increase and maintain seamen, and give a vent to the overflowing population at home. The same general statement as to the advantages