The Company established almshouses for its widows and
orphans.
In 1657 the Muscovy Company, renewed its charter for trade in
Russia and established a New General Stock. If a man bought a
share, he bought freedom of the company. An annual dividend was
declared from the annual profits.
Commercial men regularly kept accounts with bankers. Merchants
used division to apportion profits or losses to the parties whose
capital was involved. Simple and compound interest were used. The
concept of contract became a familiar one.
Regular private bankers of London emerged from the Goldsmiths from
1640 to 1675. They issued bank notes and paid checks.
Cromwell increased trade by seizing territories, establishing
colonies, and warring with competitors for master of the seas and
trade. In 1649 it was provided that no one who paid his assessment
for soldiers' pay would have to quarter any of them.
Authority was given in 1649 to impress seamen: mariners, sailors,
watermen, surgeons, gunners, ship carpenters, caukers, coopers,
whoymen, and carmen for carriage of victuals.
English ships were embellished with decoration. Their sail area
was increased by triangular fore and aft sails. The Navy increased
from 39 to 80 vessels.
After serving in foreign wars, ex-soldiers were allowed in 1654 to
practice any trade without serving a seven year apprenticeship.
Colonies New Hampshire and Maine were established in 1635,
Connecticut in 1636, and Rhode Island in 1638, as offshoots from
other colonies.
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