The Virginia Company was formed with a charter from
King James I in 1606. The Company was a joint stock
corporation charged with the settlement of Virginia. It
had the power to appoint the Council of Virginia, the
Governor and other officials, and the responsibility to
provide settlers, supplies, and ships for the venture. The
initial reaction to the Company was favorable, but as the
mortality rate rose and the prospect for profit grew dim,
the support for it waned. The leadership resorted to
lotteries, searching for gold, and silkworm production to
increase profits. The charter was finally revoked in 1624
and Virginia became a Crown colony, largely as a result
of the Indian Massacre of 1622.
The seal of the Virginia Company is on the right.
The Story Continues: Latest Archaeology from the Jamestown Rediscovery Project