may 4, 1614 - Cockayne project

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by 1614 Charles has his own personal hold on the cloth industry trying to make his own money from the exports that it would give them obviously being the monarch as they would get import and export tax given to them. the project designed to boost the earnings of those involved in the manufacture of undyed cloth setting up a dyeing industry to do the job at home. The government was promised £40,000 p.a. from increased customs through the importing of dyestuffs. James gave control to Cockayne and the new company was given permission to export in 1615. It was clear by 1616 that Cockayne had not the resources to buy the cloth from the clothing districts and hold it until it could be marketed. Matters became worse when the Dutch banned the import of cloth. Merchants went bankrupt, weavers rioted, cloth exports slumped and the industry stagnated. By 1617 James abandoned Cockayne and the Merchant Adventurers regained control.

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