Virginia Company of London

Definition

The Virginia Company of London was a joint-stock company established in 1606 by King James I to colonize the eastern coast of North America. It was granted a royal charter to establish and govern the Virginia Colony, which would become the first permanent English settlement in the New World.

5 Must Know Facts For Your Next Test

1. The Virginia Company of London was granted a monopoly on trade and settlement in the Virginia Colony, which encompassed the area between the 34th and 41st parallels.
2. The company was responsible for organizing and financing the first three colonial expeditions to Virginia, including the ill-fated Roanoke Colony.
3. Jamestown, the first successful English settlement in North America, was established in 1607 under the Virginia Company's auspices.
4. The Virginia Company's efforts to attract settlers and generate profits were initially hampered by disease, starvation, and conflicts with Native American tribes.
5. In 1624, the Virginia Company's charter was revoked by King James I, and the Virginia Colony became a royal colony under the direct control of the English crown.

Review Questions

• Describe the primary purpose and goals of the Virginia Company of London in establishing the Virginia Colony.
  • The Virginia Company of London was a joint-stock company granted a royal charter by King James I to colonize the eastern coast of North America. The company's primary goals were to establish a permanent English settlement, known as the Virginia Colony, and to generate profits through trade and the exploitation of natural resources. The company was responsible for organizing and financing the first three colonial expeditions to Virginia, including the ill-fated Roanoke Colony, and later the successful establishment of Jamestown in 1607.
• Explain the relationship between the Virginia Company of London and the Virginia Colony, and how this relationship evolved over time.
  • The Virginia Company of London was the driving force behind the establishment and early development of the Virginia Colony. The company was granted a monopoly on trade and settlement in the colony, and was responsible for organizing and financing the initial colonial expeditions. However, the company's efforts were initially hampered by disease, starvation, and conflicts with Native American tribes. Over time, as the colony became more self-sufficient, the relationship between the company and the colony evolved. In 1624, the Virginia Company's charter was revoked by King James I, and the Virginia Colony became a royal colony under the direct control of the English crown.
• Analyze the long-term impact and legacy of the Virginia Company of London's role in the colonization of North America.
  • The Virginia Company of London played a pivotal role in the colonization of North America, as it was responsible for establishing the first permanent English settlement in the New World – the Virginia Colony. The company's efforts, though initially fraught with challenges, laid the groundwork for the eventual expansion and growth of English colonies along the eastern coast of North America. The establishment of Jamestown in 1607 under the company's auspices marked a significant milestone in the history of European colonization, and the Virginia Colony would go on to become one of the most important and influential of the Thirteen Colonies. The legacy of the Virginia Company's role in this process can be seen in the enduring impact of the Virginia Colony on the development of the United States.

Related terms

Joint-Stock Company: A type of business organization where ownership is divided into transferable shares, allowing investors to pool resources and share risks and profits.

Royal Charter: A formal document issued by a monarch granting rights, privileges, and powers to an individual, corporation, city, or other entity.

Virginia Colony: The first permanent English settlement in North America, established in 1607 at Jamestown, Virginia, under the auspices of the Virginia Company of London.