CAMBRIDGE AGREEMENT. On August 17, 1629, twelve Puritan members of the Massachusetts Bay Company, under the leadership of John Winthrop, signed an agreement in Cambridge, England, in which they agreed to emigrate with their families to New England. The signatories to the Cambridge Agreement insisted that the charter of companies be transposed into the New World and that it serve as a constitution for the new colony. This was an unprecedented demand, as traditionally a board of directors governed chartered colonies in England. A few days later, the general court of the company adopted an application to transfer the company and the Charter to New England, becoming the only English colonization company without a board of directors in England. Subsequently, all shareholders who did not want to settle in America sold their shares to those who were willing to make the trip. By taking the Charter, the Puritans shifted the attention of the business from commerce to religion, and they guaranteed that the Crown would not endanger their religious freedom in America. The agreement guaranteed that the Massachusetts Colony would be self-administered, only for the English crown. The colony and society then became, in all respects, one and the same. The Puritans of Winthrop carried this charter across the Atlantic when they arrived in America in 1630.
On his terms, those who wanted to emigrate to the New World could buy shares held by shareholders who wanted to stay at home. The agreement was therefore a precursor to the founding of Boston, Massachusetts. John E. Pomfret, with Floyd M. Shumway. Foundation of the American Colonies, 1583-1660. Harper and Row, New York 1970. The Cambridge Agreement was signed on 29 August 1629 between the shareholders of the Massachusetts Bay Company in Cambridge, England. Ann Agreement by A Gennerall Conf for a mounthly meeting.
Impr that all subscribers every Monday out of two in Every mountain of the communal house In the Afternoone in half a side after the bell rings, and that anyone does not show up his whole person shows up and leaves the Ther without vacation of [ ] until the bees pay twelve pence for each default and if it is not paid at the next session , then for the dobl and soe until it is paid. The Cambridge agreement provided that the Massachusetts Bay Colony in New England was under local control and would not be controlled by a London-based corporate board. Despite their puritanical sympathies, not all of the company`s shareholders intended to emigrate. In return for the guarantee of local control of the colony, the non-emigrant shareholders were bought out by the emigrant shareholders.