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. 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. This was done by court order on August 29. 1629. . Richard Saltonstall Thomas Dudley William Vassall Nicholas West Isaac Johnson John Humfrey Thomas Sharpe Increase Nowell John Winthrop William Pinchon Kellam Browne William Colbron The Cambridge Agreement provided that the Massachusetts Bay Colony would be under local control in New England and not by a London-based board of directors. 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. After these negotiations, John Winthrop led the emigrant party of the enterprise and was elected colonial governor in October 1629.
After long-sightedness of the state of the Plantacion now in hand for New England, where in wee (whose names are subscribed for this) have interfered: and after weighing the greats of the work in terms of consequences, the glory of God and the churches: as with regard to difficulties and discourges which in all likelihood , must be subtruses to prosecucion: If we consider that all this adventure develops to the joyful confidence that we have towards each other, faithful and resolute here, as none of us left without the safety of the rest of the abadventuren: now, for a better encouragement of ourselves and others who will rejoice with us in this action, and until the end , that every unscrupulous human being can dispose of his succession and his unscrupulous afutres as best suited to his priority. , It is fully and faithfully agreed between us, and each of us makes here freely and sincerely promise and himself in the word of a Christian and in the presence of God, who is the source of all hearts, that we truly end the prosecucion of his work, as by god`s help, we will be ready in our people, and with such of our several families who must go with us and the dispositions that we are comfortable with all to the equipment, for the plantacion in question until next March 1, in those ports or ports of this country that are agreed by society, until the end to inhabit the seas (under the protection of God) and continue in New England.