In 1580, young Smythe was admitted to the freedom of the
Worshipful Company of Haberdashers and also of the
Worshipful Company of Skinners. He quickly rose to wealth and distinction after entering politics to augment his business. Smythe was made
Auditor for the City of London from 1597 to 1598, and Treasurer of
St Bartholomew's Hospital from 1597 to 1601. In 1597, he was briefly elected to Parliament for
Aylesbury. In 1599, he was elected
alderman for
Farringdon Without and chosen as one of the two
sheriffs of the City of London for 1600. Smythe financed numerous Elizabethan-era trade ventures and voyages of exploration during the early 17th century. In 1592, Smythe obtained
settlement rights to the
Virginia colony from Sir
Walter Raleigh. When the
East India Company was formed in October 1600, Smythe was appointed as its first governor by the charter dated 31 December, a position he held for only four months. In February 1600–01, Smythe, serving as London's sheriff, was suspected of being a supporter of the
Robert Devereux, 2nd Earl of Essex who, on 8 February, went to Smythe's house in
Gracechurch Street. Smythe advised Essex to turn himself in to
John Garrard, the
Lord Mayor of London. When Essex refused, Smythe left to confer with the Lord Mayor. When Smythe was later accused of complicity in the
Essex Rebellion, he was examined before the
Privy Council. He was fired from his office of sheriff and committed to the
Tower of London. His imprisonment ended with Queen Elizabeth's death on 24 March 1603. On 13 May 1603, after the
accession of
James I, Smythe was
knighted. Later that year he was re-elected to Parliament for
Dunwich in place of
Sir Valentine Knightley, who was chosen to sit for
Northamptonshire. After one of his sons married intro the aristocracy, Smythe became part of the "court faction" along with
Robert Rich, 2nd Earl of Warwick. In 1614, Smythe was elected Member of Parliament for
Sandwich and for
Saltash in 1622. In 1603, Smythe was re-elected governor of the East India Company, and, with one break in 1606–1607, continued to hold that office until July 1621, when he was discovered to be involved in the Virginia Company scandal. During this period, the company established trade with
India. Meanwhile, in 1604, Smythe with his younger brother
Richard Smythe were appointed as
receivers for the
Duchy of Cornwall, and, in June, was named special ambassador to the Russian Tsar
Boris Godunov. Like Smythe's grandfather,
Sir Andrew Judde, Lord Mayor of London (1550) and one of the founders of the
Muscovy Company, Smythe involved himself in the Muscovy trade. Sailing from
Gravesend on 13 June 1603, his party arrived at
Arkhangelsk on 22 July, and was taken by way of
Kholmogory and
Vologda to
Yaroslavl, where the tsar was. During that winter, Smythe obtained new privileges for the company. In the spring he went to Moscow to meet with associates. He returned to Arkhangelsk and sailed for England on 28 May 1604. He was elected MP for
Dunwich that same year. In 1609, Smythe obtained a royal charter for the London
Virginia Company. He became the new colony's treasurer and de facto non-resident governor until his resignation in 1620—two years after Raleigh's execution, and two years before a major revolt caused by Smythe's policy of "rooting out" the
native people. To address the new colony's many problems, Smythe ordered both the end of
religious conversion of the Native Americans and the expansion of the tobacco crop. In 1620, Smythe was formally charged with
enriching himself at the expense of the company. King James revoked the colony's charter in 1624, making it a royal colony instead. Although Smythe was held to be partly to blame, and despite the king's hatred of tobacco and desire to form a Christian empire, Smythe nonetheless retained the king's support. Parliamentarians urging the
graft investigation included
Nicholas Ferrar (Smythe's former deputy) and
Edwin Sandys. The inquiry continued until Smythe's death in 1625, despite the King's refusal to accepted the charges against Smythe. The King's officials continued to consult Smythe on all important matters relating to shipping and to eastern trade. For several years Smythe served as one of the navy's chief commissioners. Smythe was an original
adventurer (shareholder) of the
Somers Isles Company on its formation in 1615, having and also served as Governor (in England, with a Deputy Governor serving in the colony itself) of the Somers Isles (or
Bermuda) from its official settlement by the Virginia Company in 1612, continuing in this role after its split with the Virginia Company in 1614. His connection with the East India Company, the Virginia Company and the Muscovy Company, also led Smythe to promote and support voyages for the discovery of the
North-West Passage in North America.
William Baffin named
Smith Sound between
Greenland and
Ellesmere Island to honour the patron of his 1616 voyage of discovery. In January 1618–19, Smythe was appointed one of the commissioners for the settlement of the differences with the Dutch which, however, after years of discussion, remained for the time, unsettled. ==Private life==