Somers Isles Company Overview and Economic Impact

The Somers Isles Company was a British joint-stock company formed in 1606 to establish a permanent settlement in North America. It was granted a charter by King James I and was authorized to trade and settle in the region.

The company's primary goal was to establish a profitable trade in the New World, particularly in the fur trade. The company's investors were optimistic about the potential for wealth and growth in the region.

One of the company's most notable achievements was the establishment of the colony at Jamestown, Virginia, which became the first permanent English settlement in what is now the United States. The colony struggled in its early years, but it eventually became a successful and thriving community.

The Somers Isles Company played a significant role in shaping the early history of North America, and its legacy continues to be felt today.

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The Somers Isles Company was formed in 1615, taking over the administration of Bermuda from the Virginia Company. The company was created by the same investors who had invested in the Virginia Company, and they were mostly wealthy and important people in England.

The original investors in the Somers Isles Company were listed in the letters patent, which included a mix of nobles, knights, and merchants. The list was ordered by social rank, but it's worth noting that the original list began with Henry, Earl of Southampton.

The company's charter allowed it to administer Bermuda for sixty years, a significant period of time that would shape the island's history. The Somers Isles Company played a crucial role in the development of Bermuda, and its legacy can still be seen today.

Here's a list of the original investors in the Somers Isles Company, as listed in the letters patent:

The company's early years were marked by a mix of successes and challenges, but it ultimately played a crucial role in the development of Bermuda.

The Somers Isles Company had a unique structure, with its original adventurers listed in the letters patent. These adventurers were essentially the same as those of the Virginia Company.

The original list of adventurers was ordered by social rank, but the original list began with Henry, Earl of Southampton. The list included a mix of nobles, knights, and commoners, totaling over 100 individuals.

The company's operations were likely influenced by the diverse backgrounds and skills of its adventurers. For example, the list included a goldsmith, a merchant, and a doctor of physicke.

Here is a breakdown of the types of people who were part of the Somers Isles Company:

The diversity of the company's adventurers likely played a key role in the company's success and the development of Bermuda.

Agriculture was the mainstay of the economy under the Somers Isles Company, but it wasn't a very profitable venture.

The primary cash crop was tobacco, but the quality produced was very poor, and the Bermuda cedar boxes used to ship it to England were often worth more than the tobacco itself.

Bermudian farmers had to raise as many as three crops a year to be economically viable, which meant the soil became depleted due to its high alkaline levels and low magnesium content.

The Colony also struggled with other export crops, and by the 1620s, Virginia's tobacco exports were increasing, making it harder for Bermudian farmers to compete.

Bermudian farmers began to diversify and grow food crops and rear livestock to reduce their dependence on overpriced imports and to sell to other colonies.

This growing trade created a need for Bermudian-owned ships to deliver their exports, which led to the development of the Bermuda sloop.

The Somers Isles Company tried to stifle these maritime activities by banning the building of vessels without its license and passing laws to protect the Bermuda cedar, which may have been intended to restrict shipbuilding rather than conserve the resource.

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The Somers Isles Company faced significant challenges that ultimately led to its dissolution. The company's interference in the islanders' livelihoods was a major issue.

The company's treatment of Perient Trott and his heirs was a key factor in the protest to the Crown. This protest expanded to include the company's wider mismanagement of the colony.

The company's mismanagement of the colony led to a lengthy court case, where the Crown championed Bermudians against the company. This court case was a major turning point in the company's history.

In 1684, the company's Royal Charter was revoked, and the Crown assumed responsibility for appointing the Colony's governors. The last company governor was re-appointed by the Crown.

The local merchant class came to dominate and shape Bermuda's progress after the company's dissolution. The islanders abandoned agriculture en masse and turned to the sea for their livelihoods.

Here's a breakdown of the types of chartered companies that existed during the time of the Somers Isles Company:

Bermuda as a Corporate Entity was a unique concept, where most of the island was subdivided into eight equal parts called tribes, later known as parishes, named after the Company's shareholders.

Each tribe was further divided into smaller plots of land, which were essentially shares in the Company. The Company made money from the crops grown on this land.

The Company's return on investment came specifically from cash crops raised on that land. A surveyor, Richard Norwood, was hired to produce a survey of the colony, which also served as a census, completed in 1616, although he made later updates.

The Governor, Daniel Tucker, took some of the extra land for himself after Norwood discovered that the total landmass of the eight commercial parishes was greater than originally estimated.

A ninth area, now called Saint George's, was kept as "common" or "King's" land and was not divided up for the Company to use. This area included Saint George's Island, Saint David's Island, and other smaller islands.

The Somers Isles Company was formed by the same people who owned the Virginia Company, and it was responsible for managing Bermuda since 1615. The original Adventurers of the Somers Isles Company listed in the letters patent were essentially the same as those of the Virginia Company.

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Here are the original Adventurers listed in order of social rank, as transcribed by Major-General Sir John Henry Lefroy:

The Somers Isles Company played a crucial role in the early history of Bermuda, and reporting on its activities is essential to understanding the island's development.

The company was required to submit regular reports to the English government, detailing its progress and any challenges it faced.

These reports were typically written by the company's governor, who would provide a detailed account of the company's activities and any notable events that had occurred.

The company's reports were often lengthy and included information on the island's population, economy, and infrastructure.

The governor's reports were usually written in a formal and structured format, making it easy for the English government to understand the company's progress.

The company's reports were also used to inform the English government of any potential threats or opportunities that the company faced, such as pirate attacks or new trade opportunities.

The Somers Isles Company's reports provide a unique insight into the early history of Bermuda and the challenges faced by the company and its governor.

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