“‘If there were no reason of State to press it forward, yet we would pursue and effect that work with the same earnestness, merely for the goodness and morality of it, esteeming the settling of religion, the introducing of civility, order, and government among a barbarous and unsubjected people to be the acts of piety and glory, and worthy also a Christian Prince to endeavour’” (London and Londonderry, p. 13).
On March 29, 1613, the first charter was granted to the Irish Society as representing not the Companies, but the Corporation of the City of London for the Plantations. This charter constitutes and incorporates the Irish Society:—
“‘For the better ordering, directing, and governing all and all manner of things for and concerning the City and Citizens of Londonderry aforesaid, and the aforesaid County of Londonderry, and the Plantation to be made within the same City and County of Londonderry, and other businesses belonging to the same,’ giving the Society power to purchase and hold in fee, for these purposes, lands, goods, etc., in England or in Ireland, to have a common seal, and to sue or be sued” (p. 14).
A grant of timber is made only for the Plantation and “not for any other causes to be merchandized or sold.” In other words, the Irish Society was incorporated for the purpose of a Trust; the members were originally Trustees.
It is charged against the Society that they began by neglecting the conditions, setting too high a rent upon their lands, and trying to make a profit for the Londoners out of the property. James himself was much dissatisfied with the conduct of the estates. He wrote to Sir Arthur again in August 1615, adding a postscript in his own hand:—“My Lord, in this service I expect that zeal and uprightness from you, that you will spare no flesh, English or Scotch, for no private man’s worth is able to counterbalance the particular safety of a kingdom, which this Plantation, being well accomplished, will procure.”
A year afterwards the King granted a licence to the twelve Companies to hold in mortmain whatever lands the Irish Society might grant them.
These grants contained a reservation of the right of re-entry if the conditions specified were not kept.
It is, of course, evident that if the Irish Society were Trustees they could not give away their lands, and that they could only make grants under the conditions of their Trust.
In 1620, on further complaints being made, the sequestration of the estates was granted, but not carried out. In 1624 other complaints were made that the conditions of allotting 4000 acres to Derry and 3000 to Coleraine had not been carried out. It was replied that Derry had received 1500 and Coleraine 500.
Charles I. began by making an attempt to fix a fair rent, which appears to have failed, the Society declaring that for the time it was impracticable. There were, no doubt, difficulties in the way of getting settlers, or, which seems possible, there were so many applicants that the Society was able to run up rents. In 1637 the Court of Chancery gave judgment in the case. The letters patent of March 1613 were annulled, and the premises granted to the Irish Society were seized into the hands of the King. A fine of £70,000 was also imposed upon the City.