Making a Living

MAKING A LIVING IN THE NEW WORLD

The persons transported and the Adventurers shall continue their joint stock and partnership together, the space of seven years... during which time all profits and benefits are got by trade remain still in the common stock.
William Bradford, Of Plymouth Plantation

The Mayflower passengers put themselves heavily into debt in order to come to America. They borrowed from a group of English investors called "merchant adventurers," who expected to make a profit from their investment. The Pilgrims and investors formed a partnership in which capital (money, labor, livestock and land) were held as "joint stock." Everything in Plymouth -- property, livestock, profits from trading -- was to be owned by the "joint stock" for seven years. After seven years, the assets were to be divided among the partners, both the colonists and adventurers.

The Pilgrims made a living by farming and trading. Until their contract was renegotiated, they were deeply indebted to the merchant adventurers who financed their journey. All proceeds were sent to England to pay their debt and purchase supplies.

		The Pilgrims’ major crop was corn, which could be traded to Native (Abenaki) communities in Maine for furs. Fur, particularly beaver and otter, was in great demand in Europe. The fur from beaver pelts was matted together in a felting process, and made into hats. Beaver hats were very fashionable! In addition to fur and fish, the Pilgrims sent other raw materials, such as timber, to England.
Constance Hopkins' beaver hat

The Pilgrims were unlucky in their efforts to send goods to England to repay their debt. Ships were lost at sea. One setback occurred when a ship sent with a load of beaver pelt to sell in England was captured by pirates. Eventually, cargoes reached England, and representatives from the Colony gathered livestock and finished goods like tools, shoes and stockings, and domestic goods to bring back to Plymouth.

Mr. Winslow came over [from England]. He brought three heifers and a bull, the first beginning of any cattle of that kind in the land, with some clothing and other necessaries.
William Bradford, Of Plymouth Plantation

The colonists renegotiated their debt in 1626. Eight colonists, with four London associates, undertook to pay off the debt. These eight "Undertakers" then shared the debt with 45 Plymouth householders. Click HERE for a quote from the 17th century journal of Pilgrim Governor William Bradford.

The Pilgrims also traded with other European colonies. After 1627, they exchanged fur, corn and fish for cloth and tobacco from the Dutch of New Amsterdam to the south.

By the middle of the 17th century, the local economy had diversified. One way of making a living was to process linen and wool into cloth. Spinning wheels first appear in probate inventories in this period.