When eight English noblemen known as the Lords Proprietors were granted the Charles Towne territory by King Charles II as a reward for their loyalty, the grant came with an express command to develop the area into a profit-making venture. Fortunately, the area came with a natural deep-water port, perfect for establishing trade. Soon trade in lumber, deerskins, and indigo established Charles Towne's wealth and prosperity, and the invention of the cotton gin and improvements in the rice crop cultivation helped boost the area's economy. By 1750, Charleston was the fourth largest city in colonial America--and the wealthiest, thanks in part to additional trade through Georgetown and Port Royal.