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Oct 04, 2016
Financial Institutions

In 1670 when approximately 120 English settlers arrived at Charles Towne landing and established what would become the Carolina colony, the first order of business was to build a palisade to defend the settlers from possible hostility from Spanish forces or Native Americans in the region. This was before any crops were planted; this was before any housing was built. After the palisade was completed, the next step was experimentation to determine which crops would actually grow in the environment. And these were meant to be cash crops, crops that could be shipped back to England and sold for a profit. Rice was ultimately the choice.

Because Charles Towne had no deep harbor, it was dependent on coastal merchant vessels to bring supplies and send away any crops to be sold. Because of that, in 1680 the Towne was moved to Oyster Point to what would become Charleston. The original site would be effectively abandoned, but the new site would become the fifth largest city in North America and would remain among the 10 largest cities in the United States through the 1840 census.

If the early settlers had not understood the risks and not built the original palisade, or not developed a cash crop, who knows how much longer it would have taken to become the dominant city it became. If you want assistance in understanding your risks, managing for profit, and keeping on track for your profit goals, call your Wipfli financial institution audit, tax, or consulting expert to hear how we can help you.


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