MERCHANT ADVENTURERS

company of English merchants who engaged in trade with the Netherlands (and later with northwest Germany) from the early 15th century to 1806. The company, chartered in 1407, principally engaged in the export of finished cloth from the burgeoning English woolen industry. Its heyday extended from the late 15th century to 1564, during which period it sent its fleets to its market at Antwerp in the Spanish Netherlands with cloth to be sold at the annual fairs. By the middle of the 16th century, as much as three-fourths of English foreign trade was controlled by the London officers of the company, many of whom served as financiers and advisers to the Tudor monarchs. After 1564 the Merchant Adventurers lost its market in the Spanish Netherlands and a long search for a new one followed. After 1611 its foreign trading activities were centred at Hamburg and one or another town in the republican United Provinces. The company was criticized in Parliament as a monopoly, and it lost many of its privileges in the 17th century. Its charter was abrogated in 1689, but the company survived as a trading association at Hamburg until the outbreak of the Napoleonic Wars.