A well-meaning debate about the relative value of capitalism versus socialism is ongoing in this country. But few know the details of what happened in the spring of 1622 in Plymouth Colony that determined America’s financial direction. William Bradford was elected governor on the death of the first governor. A young man in his 30s, Bradford was left to make decisions that would impact the success of the small colony.
One issue was how to get more food supplies. New colonists arrived by the dozens, but none brought supplies. And Bradford was ordered by the man back in England who had funded the expedition, to feed and house any new arrivals without additional support forthcoming. Most of these latter arrivals would eventually move north toward what would become Boston. They would compete for the animal skins that would be sent to England to pay the colony’s debt.
Living through two dire years, Bradford felt sure that one problem with their inadequate food harvest was inherent in the system that required all to work for the general good. With no incentive to earn more than an allotted share, some worked less while others worked more. To remedy that, Bradford made a radical decision. He gave each household a few shares of private property to plant as they saw fit. Here in his own words, complete with old English spelling, was the result:
“This had very good success; for it made all hands very industrious, so as much more corne was planted then other waise would have bene by any means the Governor or any other could use, and saved him a great deall of trouble, and gave farr better contente.”*
Bradford set the financial principle that would define America down through the centuries. Times have changed, but people have not. Free enterprise offers incentives that free handouts never could.
*To learn more about the Pilgrims read:
William Bradford: Plymouth’s Faithful Pilgrim, by Gary D. Schmidt, Eerdmans Books for Young Readers, 1999