Council of Trade and Foreign Plantations
In 1621, following a downturn in overseas trade which had created financial problems for the Exchequer, King James instructed his Privy Council to establish an ad hoc committee of inquiry to look into the causes of the decline. This was called The Lords of the Committee of the Privy Council appointed for the consideration of all matters relating to Trade and Foreign Plantations. Intended to be a temporary creation, the committee, later called a 'Council', became the origin of the Board of Trade which has had an almost continuous existence since 1621. The Committee quickly took a hand in promoting the more profitable enterprises of the English possessions, and in particular the production of tobacco and sugar.
Read more about this topic: English Empire
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