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With unemplyoment and population high, and religious toleration low, it was the perfect time to for English adventurers to set out for a new life in a New World. In 1606, opportunity was ripe when Virginia Company of London, a joint stock company, was granted a charter from King James I allowing for settlement in America. Now financially set, Englishmen in search of adventure set sail in three ships in late 1606 headed for the New World.