Virginia was founded in 1607 as a joint-stock company to search for wealth but eventually found it through the growth of tobacco. Maryland was founded in 1632 to allow Catholics to freely practice their religion. It passed laws promoting religious tolerance and its leaders sought to attract Catholics to the colony for profit. The Carolinas began as settlements in the 1640s but were officially chartered in 1663, later splitting into North and South Carolina in 1729 and losing additional land with the founding of Georgia.