Society of Merchant Venturers
Encyclopedia
The Society of Merchant Venturers (or just the "Merchant Venturers") is a private entrepreneurial and charitable organisation in the English
city of Bristol
, which dates back to the 13th century. At one time it was practically synonymous with the Corporation (local government) of Bristol and for many years had effective control of Bristol's port
.
's voyage of discovery to Newfoundland in 1497. The society in its current form was established by a 1552 Royal Charter
from Edward VI
granting the society a monopoly on Bristol's sea trade. They remained in effective control of Bristol Docks until 1848. Further charters were granted by Charles I
, Charles II
and Elizabeth II
. The society was active in the English colonization
of North America
, helping to establish the Bristol's Hope
and Cuper's Cove
colonies in Newfoundland
.
In 1595 the Merchant Venturers' School was founded, which subsequently became the Merchant Venturers' Technical College and was a precursor of the University of Bristol
, the University of the West of England
and City of Bristol College
. In 1676 the society took control of the Manor of Clifton
including Clifton Down
.
In 1694, the Merchant Venturers Society organised protests against the monopoly held by the Royal African Company
in the slave trade, leading to the ending of this monopoly in 1698. By 1700 many Merchant Venturers including the celebrated Edward Colston
were active in the slave trade, a connection which still haunts the society. Colston also founded the Merchant Venturers Almshouses
and a school which still exists today, situated on Bell Hill.
The first light on the island of Flat Holm
was a simple brazier
mounted on a wooden frame, which stood on the high eastern part of the island. In 1733 the Society of Merchant Venturers of Bristol found the brazier to be unreliable and petitioned the General Lighthouse Authority
, Trinity House
, for an actual lighthouse, but the petition failed. In 1735 Mr. William Crispe of Bristol submitted a proposal to build a lighthouse at his own expense. This initial proposal also failed but negotiations resumed in 1736 when 60 soldiers drowned after their vessel crashed on the Wolves rocks near Flat Holm. Following this disaster, the Society of Merchant Venturers finally supported William Crispe's proposal. Crispe agreed to pay £800 (£110,552, $220,241 in 2008) for the construction of the tower as well as the fees permits. The construction of the tower finished in 1737 and it began operating on 25 March 1738.
In the 19th century the Society helped to fund the building of Brunel's
Clifton Suspension Bridge
and members of the society helped to establish the Great Western Railway
. In the 1860s the Society acted with the Bristol Corporation to put Clifton Down
and the adjoining Durdham Down
under the control of a single Downs Committee
. Alderman Proctor's Drinking Fountain
on Clifton Down was built in 1872 by G and H Godwin in a Gothic Revival style to commemorate the 1861 presentation of Clifton Down
to the City of Bristol. With the end of its control of the docks, the society moved towards a philanthropic role; in addition to its earlier almshouses
, it established St Monica's Home of Rest, a substantial retirement home adjacent to Durdham Down.
The Merchant Venturers work closely with the wider community and many of its members play a role in Bristol’s commercial life and the institutions within the city. Its objectives are to:
The Merchant Venturers aim to play an active role in education to help improve and sustain the quality of educational provision within Bristol. The organisation has been involved in education for at least 400 years, and in 2008 sponsored and supported two new Academies. Merchants' Academy
in Withywood opened its doors in September 2008 to replace Withywood Community School. The Society has invested £2m in the Academy and additional support has been provided. Some concerns have been raised about the independence of the academy after the Society of Merchant Venturers awarded the contract for the building of the school to an architects firm connected to one of its members.
The Merchants also sponsor Colston’s Girls’ School which moved from the independent sector to become an academy in September 2008.
The organisation has a tradition for supporting the provision of high quality care for the elderly and is currently involved with St Monica Trust and the Cote charity. The Merchant Venturers also support, through the means of charitable grants, many other organisations and causes within the greater Bristol area. They also retain the custodianship of some historic buildings and, together with the City Council, the open spaces of the Clifton
and Durdham Down
s.
Membership is by invitation to men and women in the business and commercial life of the greater Bristol area, and who are prepared to give their time and skills in support of the Merchant Venturers’ objectives.
A list of members and short biographies are available on the website.
claims that many members are not active in charity. There were no female full members of the society until 2003 (though Margaret Thatcher
had earlier been made an honorary member), and as of 2009, there were no ethnic minority members. The society said it expected to have ethnic minority members in the future. There is a list of members, with brief biographies, on the website.
Venue claims that the Merchant Venturers control 12 charities and 40 trust funds, and also a private unlimited company
, SMV Investments, that has major investments in defence contracting, tobacco, genetically-modified agriculture and the petroleum industry. Merchant Venturers serve on the boards of many local charitable and cultural organisations, and are guaranteed seats on the University of Bristol
Court and the Downs Committee. It quotes Paul Burton of the University's School of Policy Studies as saying, "they exert quite a bit of influence and we, the people of Bristol, don't know much about them and can't hold them to account".
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
city of Bristol
Bristol
Bristol is a city, unitary authority area and ceremonial county in South West England, with an estimated population of 433,100 for the unitary authority in 2009, and a surrounding Larger Urban Zone with an estimated 1,070,000 residents in 2007...
, which dates back to the 13th century. At one time it was practically synonymous with the Corporation (local government) of Bristol and for many years had effective control of Bristol's port
Bristol Harbour
Bristol Harbour is the harbour in the city of Bristol, England. The harbour covers an area of . It has existed since the 13th century but was developed into its current form in the early 19th century by installing lock gates on a tidal stretch of the River Avon in the centre of the city and...
.
History
A Guild of Merchants was founded in Bristol by the 13th century, and swiftly became active in civic life; by the 15th century it had become synonymous with the town's government. It funded John CabotJohn Cabot
John Cabot was an Italian navigator and explorer whose 1497 discovery of parts of North America is commonly held to have been the first European encounter with the continent of North America since the Norse Vikings in the eleventh century...
's voyage of discovery to Newfoundland in 1497. The society in its current form was established by a 1552 Royal Charter
Royal Charter
A royal charter is a formal document issued by a monarch as letters patent, granting a right or power to an individual or a body corporate. They were, and are still, used to establish significant organizations such as cities or universities. Charters should be distinguished from warrants and...
from Edward VI
Edward VI of England
Edward VI was the King of England and Ireland from 28 January 1547 until his death. He was crowned on 20 February at the age of nine. The son of Henry VIII and Jane Seymour, Edward was the third monarch of the Tudor dynasty and England's first monarch who was raised as a Protestant...
granting the society a monopoly on Bristol's sea trade. They remained in effective control of Bristol Docks until 1848. Further charters were granted by Charles I
Charles I of England
Charles I was King of England, King of Scotland, and King of Ireland from 27 March 1625 until his execution in 1649. Charles engaged in a struggle for power with the Parliament of England, attempting to obtain royal revenue whilst Parliament sought to curb his Royal prerogative which Charles...
, Charles II
Charles II of England
Charles II was monarch of the three kingdoms of England, Scotland, and Ireland.Charles II's father, King Charles I, was executed at Whitehall on 30 January 1649, at the climax of the English Civil War...
and Elizabeth II
Elizabeth II of the United Kingdom
Elizabeth II is the constitutional monarch of 16 sovereign states known as the Commonwealth realms: the United Kingdom, Canada, Australia, New Zealand, Jamaica, Barbados, the Bahamas, Grenada, Papua New Guinea, the Solomon Islands, Tuvalu, Saint Lucia, Saint Vincent and the Grenadines, Belize,...
. The society was active in the English colonization
English colonial empire
The English colonial empire consisted of a variety of overseas territories colonized, conquered, or otherwise acquired by the former Kingdom of England between the late 16th and early 18th centuries....
of North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
, helping to establish the Bristol's Hope
Bristol's Hope, Newfoundland and Labrador
Bristol's Hope is the modern name of a community in the province of Newfoundland and Labrador, Canada. It is located on Conception Bay between Carbonear and Harbour Grace....
and Cuper's Cove
Cuper's Cove, Newfoundland and Labrador
Cuper's Cove, on the southwest shore of Conception Bay on Newfoundland's Avalon Peninsula was an early English settlement in the New World, and the second one after the Jamestown Settlement to endure for longer than a year...
colonies in Newfoundland
Newfoundland and Labrador
Newfoundland and Labrador is the easternmost province of Canada. Situated in the country's Atlantic region, it incorporates the island of Newfoundland and mainland Labrador with a combined area of . As of April 2011, the province's estimated population is 508,400...
.
In 1595 the Merchant Venturers' School was founded, which subsequently became the Merchant Venturers' Technical College and was a precursor of the University of Bristol
University of Bristol
The University of Bristol is a public research university located in Bristol, United Kingdom. One of the so-called "red brick" universities, it received its Royal Charter in 1909, although its predecessor institution, University College, Bristol, had been in existence since 1876.The University is...
, the University of the West of England
University of the West of England
The University of the West of England is a university based in the English city of Bristol. Its main campus is at Frenchay, about five miles north of the city centre...
and City of Bristol College
City of Bristol College
City of Bristol College is one of the largest further education colleges in the UK. Based in Bristol, the College continues to gain national recognition for its work with adults, young people and employers.- Awards :* LSIS Beacon status...
. In 1676 the society took control of the Manor of Clifton
Clifton, Bristol
Clifton is a suburb of the City of Bristol in England, and the name of both one of the city's thirty-five council wards. The Clifton ward also includes the areas of Cliftonwood and Hotwells...
including Clifton Down
Clifton Down
Clifton Down is an area of public open space in Bristol, England, north of the village of Clifton. With its neighbour Durdham Down to the northeast, it constitutes the large area known as The Downs, much used for leisure including walking and team sports...
.
In 1694, the Merchant Venturers Society organised protests against the monopoly held by the Royal African Company
Royal African Company
The Royal African Company was a slaving company set up by the Stuart family and London merchants once the former retook the English throne in the English Restoration of 1660...
in the slave trade, leading to the ending of this monopoly in 1698. By 1700 many Merchant Venturers including the celebrated Edward Colston
Edward Colston
Edward Colston was a Bristol-born English merchant and Member of Parliament. Much of his wealth, although used often for philanthropic purposes, was acquired through the trade and exploitation of slaves...
were active in the slave trade, a connection which still haunts the society. Colston also founded the Merchant Venturers Almshouses
Merchant Venturers Almshouses
Merchant Venturers Almshouses is a historic building on King Street, Bristol, England.It was built around 1696 by the Society of Merchant Venturers for convalescent and old sailors to see out their days, and still provides sheltered accommodation...
and a school which still exists today, situated on Bell Hill.
The first light on the island of Flat Holm
Flat Holm
Flat Holm is a limestone island lying in the Bristol Channel approximately from Lavernock Point in the Vale of Glamorgan, but in the City and County of Cardiff. It includes the most southerly point of Wales....
was a simple brazier
Brazier
A brazier is a container for fire, generally taking the form of an upright standing or hanging metal bowl or box. Used for holding burning coal as well as fires, a brazier allows for a source of light, heat, or cooking...
mounted on a wooden frame, which stood on the high eastern part of the island. In 1733 the Society of Merchant Venturers of Bristol found the brazier to be unreliable and petitioned the General Lighthouse Authority
General Lighthouse Authority
A General Lighthouse Authority is a dedicated Government Agency of a Country or Nation tasked with and responsible for the provision and maintenance of lighthouses, lightvessels, navigational aids and any other equipment or facilities which ensure the safety of mariners and sailors navigating the...
, Trinity House
Trinity House
The Corporation of Trinity House of Deptford Strond is the official General Lighthouse Authority for England, Wales and other British territorial waters...
, for an actual lighthouse, but the petition failed. In 1735 Mr. William Crispe of Bristol submitted a proposal to build a lighthouse at his own expense. This initial proposal also failed but negotiations resumed in 1736 when 60 soldiers drowned after their vessel crashed on the Wolves rocks near Flat Holm. Following this disaster, the Society of Merchant Venturers finally supported William Crispe's proposal. Crispe agreed to pay £800 (£110,552, $220,241 in 2008) for the construction of the tower as well as the fees permits. The construction of the tower finished in 1737 and it began operating on 25 March 1738.
In the 19th century the Society helped to fund the building of Brunel's
Isambard Kingdom Brunel
Isambard Kingdom Brunel, FRS , was a British civil engineer who built bridges and dockyards including the construction of the first major British railway, the Great Western Railway; a series of steamships, including the first propeller-driven transatlantic steamship; and numerous important bridges...
Clifton Suspension Bridge
Clifton Suspension Bridge
Brunel died in 1859, without seeing the completion of the bridge. Brunel's colleagues in the Institution of Civil Engineers felt that completion of the Bridge would be a fitting memorial, and started to raise new funds...
and members of the society helped to establish the Great Western Railway
Great Western Railway
The Great Western Railway was a British railway company that linked London with the south-west and west of England and most of Wales. It was founded in 1833, received its enabling Act of Parliament in 1835 and ran its first trains in 1838...
. In the 1860s the Society acted with the Bristol Corporation to put Clifton Down
Clifton Down
Clifton Down is an area of public open space in Bristol, England, north of the village of Clifton. With its neighbour Durdham Down to the northeast, it constitutes the large area known as The Downs, much used for leisure including walking and team sports...
and the adjoining Durdham Down
Durdham Down
Durdham Down is an area of public open space in Bristol, England. With its neighbour Clifton Down to the southwest, it constitutes a area known as The Downs, much used for leisure including walking, jogging and team sports. Its exposed position makes it particularly suitable for kite flying...
under the control of a single Downs Committee
The Downs (Bristol)
The Downs are an area of public open limestone downland in Bristol, England. They consist of Durdham Down to the northeast, and the generally more picturesque and visited Clifton Down to the southwest.- Durdham Down:...
. Alderman Proctor's Drinking Fountain
Alderman Proctor's Drinking Fountain
The Alderman Proctor's Drinking Fountain is a historic building on Clifton Down, Bristol, England.It was built in 1872 by the London firm of George and Henry Godwin in a Gothic Revival style to commemorate the 1861 presentation of Clifton Down to the City of Bristol by the Society of Merchant...
on Clifton Down was built in 1872 by G and H Godwin in a Gothic Revival style to commemorate the 1861 presentation of Clifton Down
Clifton Down
Clifton Down is an area of public open space in Bristol, England, north of the village of Clifton. With its neighbour Durdham Down to the northeast, it constitutes the large area known as The Downs, much used for leisure including walking and team sports...
to the City of Bristol. With the end of its control of the docks, the society moved towards a philanthropic role; in addition to its earlier almshouses
Merchant Venturers Almshouses
Merchant Venturers Almshouses is a historic building on King Street, Bristol, England.It was built around 1696 by the Society of Merchant Venturers for convalescent and old sailors to see out their days, and still provides sheltered accommodation...
, it established St Monica's Home of Rest, a substantial retirement home adjacent to Durdham Down.
Current status
The Society of Merchant Venturers comprises men and women, prepared to give their time and skills to support the organisation's objectives.The Merchant Venturers work closely with the wider community and many of its members play a role in Bristol’s commercial life and the institutions within the city. Its objectives are to:
- Contribute to the prosperity and well being of the greater Bristol area through active support of enterprise and commercial and community activity;
- Enhance the quality of life for all, particularly for the young, aged and disadvantaged;
- Promote learning and the acquisition of skills by supporting education;
- Act as effective stewards of the charitable trusts, heritage, ancient buildings and open spaces for which the society is responsible.
Merchants' Academy
Merchants' Academy is an independent academy in Withywood, Bristol, England. The school is funded by Bristol City Council and sponsored by the Society of Merchant Venturers and the University of Bristol....
in Withywood opened its doors in September 2008 to replace Withywood Community School. The Society has invested £2m in the Academy and additional support has been provided. Some concerns have been raised about the independence of the academy after the Society of Merchant Venturers awarded the contract for the building of the school to an architects firm connected to one of its members.
The Merchants also sponsor Colston’s Girls’ School which moved from the independent sector to become an academy in September 2008.
The organisation has a tradition for supporting the provision of high quality care for the elderly and is currently involved with St Monica Trust and the Cote charity. The Merchant Venturers also support, through the means of charitable grants, many other organisations and causes within the greater Bristol area. They also retain the custodianship of some historic buildings and, together with the City Council, the open spaces of the Clifton
Clifton Down
Clifton Down is an area of public open space in Bristol, England, north of the village of Clifton. With its neighbour Durdham Down to the northeast, it constitutes the large area known as The Downs, much used for leisure including walking and team sports...
and Durdham Down
Durdham Down
Durdham Down is an area of public open space in Bristol, England. With its neighbour Clifton Down to the southwest, it constitutes a area known as The Downs, much used for leisure including walking, jogging and team sports. Its exposed position makes it particularly suitable for kite flying...
s.
Membership is by invitation to men and women in the business and commercial life of the greater Bristol area, and who are prepared to give their time and skills in support of the Merchant Venturers’ objectives.
A list of members and short biographies are available on the website.
Criticisms
The society says it is not deliberately elitist, but also that the qualification for potential members is being "prominent in their own sphere of business and active in the charitable or public life of the area". An article in local magazine VenueVenue (magazine)
Venue is the what's on magazine for the Bristol and Bath areas of the UK.It was founded in 1982 by journalists who had been working for another Bristol magazine, Out West, which had been consciously modelled on London's Time Out magazine....
claims that many members are not active in charity. There were no female full members of the society until 2003 (though Margaret Thatcher
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher, was Prime Minister of the United Kingdom from 1979 to 1990...
had earlier been made an honorary member), and as of 2009, there were no ethnic minority members. The society said it expected to have ethnic minority members in the future. There is a list of members, with brief biographies, on the website.
Venue claims that the Merchant Venturers control 12 charities and 40 trust funds, and also a private unlimited company
Unlimited Company
An unlimited company or private unlimited company is a hybrid company incorporated either with or without a share capital but where the liability of the members or shareholders is not limited - that is, its members or shareholders have a joint, several and unlimited obligation to meet any...
, SMV Investments, that has major investments in defence contracting, tobacco, genetically-modified agriculture and the petroleum industry. Merchant Venturers serve on the boards of many local charitable and cultural organisations, and are guaranteed seats on the University of Bristol
University of Bristol
The University of Bristol is a public research university located in Bristol, United Kingdom. One of the so-called "red brick" universities, it received its Royal Charter in 1909, although its predecessor institution, University College, Bristol, had been in existence since 1876.The University is...
Court and the Downs Committee. It quotes Paul Burton of the University's School of Policy Studies as saying, "they exert quite a bit of influence and we, the people of Bristol, don't know much about them and can't hold them to account".