Merchant Venturers

One of the greatest trading companies. The London Merchant Venturers were closely associated with the Mercers' Company, sharing Mercers Hall until the Great Fire in 1666, and rivals of the Staplers' Company, which specialized in wool export. Henry VII granted them a charter in 1505, establishing a governor and 24 councillors. They defended their cloth monopoly against numerous rivals and enemies. Abroad they struggled against the Hanseatic League and against the vagaries of foreign diplomacy. In 1689, immediately after the Glorious Revolution, the export of cloth was opened up to all subjects, thus depriving the Merchant Venturers of their monopoly.