Lucius R. Paige, History of Cambridge, Massachusetts, 1630-1877, with a genealogical register

I writ another letter, because happily¹ some of the brethren would be ready to desire the sight of what is writ; that you may shew; this you ∧ shew or conceal, as you see meet.

Sunt mutua preces in perpetuum.

All here salute you and yours.²

The Town Records give no intimation of this financial distress. But from other sources we learn that in the year 1640, not only Cambridge but the whole Colony was in imminent danger of bankruptcy. Hutchinson says that, in this year, “the importation of settlers now ceased. The motive to transportation to America was over, by the change in the affairs of England.— This sudden stop had a surprising effect upon the price of cattle. They had lost the greatest part of what was intended for the first supply, in the passage from Europe. As the inhabitants multiplied, the demand for the cattle increased, and the price of a milch cow had kept from 25 to 30l, but fell at once this year to 5 or 6l. A farmer, who could spare but one cow in a year out of his stock, used to clothe his family with the price of it, at the expense of the new comers; when this failed they were put to difficulties. Although they judged they had 12,000 neat cattle, yet they had but about 3,000 sheep in the Colony.” ³ Winthrop says, “This year there came over great store of provisions, both out of England and Ireland, and but few passengers (and those brought very little money), which was occasioned by the store of money and quick markets which the merchants found here the two or three years before, so as now all our money was drained ”