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- Title
The End of the Gamble: The Termination of the Virginia Lotteries in March 1621.
- Authors
ROSE, EMILY
- Abstract
The sudden cancellation of the Virginia lotteries during the first sitting of the parliament of 1621 was not part of a general parliamentary attack on monopolies but a calculated political act intended to pressure the Virginia Company of London to pay more taxes than required by its charter of 1612. The appropriate context for considering the cancellation is the financial difficulties of James I and the search for funds by Sir Lionel Cranfield. The cancellation coincided with a rejection of a new charter for the company, possibly incited by Count Gondomar, the Spanish ambassador in England. The cancellation of the lotteries was the most important turning point in the history of Jamestown and started the company on its downward spiral.
- Subjects
JAMESTOWN (Va.); VIRGINIA; UNITED Kingdom; MONOPOLIES; ECONOMIC policy in British colonies; TRADE regulation; ECONOMIC conditions in British colonies; BRITISH politics &; government, 1603-1625; MIDDLESEX, Lionel Cranfield, Earl of, 1575-1645; PREVENTION; HISTORY
- Publication
Parliamentary History, 2008, Vol 27, Issue 2, p175
- ISSN
0264-2824
- Publication type
Article
- DOI
10.1111/j.1750-0206.2008.00035.x