Merchant Venturers. One of the greatest trading companies. Privileged trading concessions can be traced back to the 13th cent. and the duke of Brabant granted a charter in 1296 to English merchants in Antwerp. Though a number of companies and merchants traded with different places, the Netherlands gradually predominated, particularly for the export of cloth. The London Merchant Venturers were closely associated with the Mercers' Company, sharing Mercers Hall until the Great Fire in 1666, and rivals of the Staplers' Company, which specialized in wool export. Henry VII granted them a charter in 1505, establishing a governor and 24 councillors. The company had links or affiliations with other towns, such as York, Newcastle, Exeter, and Bristol. They defended their cloth monopoly against numerous rivals and enemies at home and abroad. They complained frequently of the activities of interlopers and their relations with affiliated companies were far from cordial. Abroad they struggled against the Hanseatic League and against the vagaries of foreign diplomacy. They switched their trading base repeatedly to retain or enhance their privileges, moving from Antwerp to Emden and then to Hamburg. During Elizabeth's reign they succeeded in seeing off the challenge of the Hanse, but protests against their monopoly persisted and the advocates of free trade gained ground. In 1689, immediately after the Glorious Revolution, the export of cloth was opened up by statute to all subjects, thus depriving the Merchant Venturers of their monopoly. They continued to trade until the Napoleonic wars.

J. A. Cannon