THE FOURTH AND FIFTH VOYAGES 11 This proved the low- water mark in the Company's fortunes. The fifth voyage in 1609 was practically equipped by the subscribers to the third voyage, and the good management of the two left a profit of 234 per cent, on the joint venture. King James also began to interest himself in his new subjects' enterprise be- yond the seas. In 1609 he followed up an earlier grant by finally founding Virginia, the first great English colony, and he issued a new and more ample charter to the East India Company, securing to it " the whole, entire, and only trade " into " the East Indies." Any persons not licensed by the Company who " directly or indirectly do visit, haunt, frequent, or trade," " into or from any of the said East Indies," were to incur the royal " indignation " and the forfeiture of their ships and goods, half to the Company and half to the Crown. James closely adhered to the terms and even to the words of Elizabeth, but where a divergence occurred it tended to strengthen the Company. Thus the new Char- ter of 1609 was to be in perpetuity and not for fifteen years, like Elizabeth's. In case the grant did not prove profitable to the realm, a notice of three years, instead of two, was to be given by the Crown. The East India Company now began to be the fash- ion. Elizabeth's Charter of 1600 was granted to the privateering Earl of Cumberland and 217 commoners, chiefly City men. The list in King James's Charter of 1609 is headed by a powerful band of courtiers. It is addressed to " Our right trusty and right well-beloved Cousins and Councellors, Eobert Earl of Salisbury, Our
