The case of the governour and company of merchants of London, trading to the East-Indies, humbly represented to the Lords Spiritual and Temporal, in Parliament assembled.
         East India Company.
      
       
         
           1698
        
      
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             The case of the governour and company of merchants of London, trading to the East-Indies, humbly represented to the Lords Spiritual and Temporal, in Parliament assembled.
             East India Company.
             Blackborne, Robert.
          
           11, [1] p.
           
             s.n.,
             [London :
             1698]
          
           
             Signed at end: Robert Blackborne, secretary.
             Caption title.
             Imprint from Wing.
             Identified on film as Wing C1082 (number cancelled).
             Reproduction of the original in the British Library.
          
        
      
    
     
       
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         eng
      
       
         
           East India Company -- Legal status, laws, etc. -- Early works to 1800.
        
      
    
     
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           THE
           CASE
           OF
           THE
           
             Governour
             and
             Company
          
           OF
           MERCHANTS
           of
           LONDON
           ,
           Trading
           to
           the
           East-Indies
           ,
           Humbly
           Represented
           To
           the
           LORDS
           Spiritual
           and
           Temporal
           ,
           In
           Parliament
           Assembled
           .
        
         
           
             May
             it
             Please
             Your
             Lordships
             ,
          
        
         
           THE
           Present
           East-India
           Company
           are
           Intituled
           to
           the
           Trade
           to
           India
           ,
           by
           several
           Charters
           Granted
           by
           the
           Kings
           ,
           
           and
           Queens
           ,
           of
           this
           Realm
           .
           They
           were
           first
           Incorporated
           near
           One
           Hundred
           Years
           ago
           ,
           viz.
           43
           Eliz.
           which
           Charter
           gave
           them
           Power
           to
           Trade
           to
           the
           East-Indies
           ,
           Exclusive
           of
           all
           others
           ,
           by
           a
           Joint
           Stock
           ,
           for
           Fifteen
           Years
           :
           
           And
           that
           Noble
           Princess
           gives
           ,
           as
           a
           Reason
           ,
           for
           Her
           Settling
           this
           Part
           of
           our
           Traffick
           under
           such
           an
           Establishment
           ,
           
             That
             't
             is
             for
             the
             Honour
             of
          
           England
           ,
           
           
             for
             the
             Increase
             of
             Navigation
             ,
             and
             the
             Advance
             of
             Trade
             .
          
           Which
           Words
           are
           repeated
           in
           all
           subsequent
           Charters
           .
        
         
           In
           the
           next
           Reign
           ,
           viz.
           7
           Jac.
           1.
           there
           was
           a
           Charter
           Granted
           to
           them
           ,
           reciting
           that
           of
           Queen
           Elizabeth
           ,
           and
           setting
           forth
           the
           
             great
             Success
             of
             the
             Company
             ,
             and
             the
             Honour
             and
             Profit
             ,
             this
             Traffick
             brought
             to
             the
             Kingdom
             .
          
           This
           Charter
           confirms
           the
           former
           :
           
           But
           whereas
           before
           they
           were
           Incorporated
           only
           for
           Fifteen
           Years
           ,
           King
           James
           the
           First
           ,
           by
           this
           Patent
           ,
           
             upon
             Experience
             of
             the
             Benefit
             this
             
             Trade
             produced
             in
             the
             Nation
             ,
          
           Erects
           the
           Company
           into
           a
           perpetual
           Body
           Politick
           .
        
         
           
           Afterwards
           ,
           viz.
           13
           Car.
           2.
           1661
           ,
           there
           was
           a
           Charter
           Granted
           to
           them
           ,
           with
           the
           like
           Recital
           ,
           
             of
             the
             great
             Benefit
             accruing
             to
          
           England
           ,
           
             by
             the
             Trade
             to
             those
             Parts
          
           ;
           and
           which
           Confirms
           their
           former
           Priviledges
           ,
           with
           these
           Clauses
           among
           others
           ,
           
             That
             they
             from
             henceforth
             forth
             for
             ever
             be
             ,
             and
             shall
             be
             ,
             one
             Body
             Corporate
             and
             Politick
             ,
             in
             Deed
             and
             in
             Name
             ,
             by
             the
             Name
             of
             the
          
           Governour
           and
           Company
           of
           Merchants
           of
           London
           ,
           Trading
           into
           the
           
             East-Indies
             :
             And
             them
             by
             the
             Name
             of
             the
          
           Governour
           and
           Company
           of
           Merchants
           of
           London
           ,
           Trading
           into
           the
           
             East-Indies
             ,
             one
             Body
             Corporate
             and
             Politick
             ,
             in
             Deed
             and
             in
             Name
             ,
             really
             and
             fully
             ,
             for
             ever
             ,
             for
             Vs
             ,
             Our
             Heirs
             and
             Successors
             ,
             We
             do
             Make
             ,
             Ordain
             ,
             Constitute
             ,
             Establish
             ,
             Confirm
             and
             Declare
             ,
             by
             these
             Presents
             :
             And
             We
             have
             Condescended
             and
             Granted
             ,
             and
             by
             these
             Presents
             ,
             for
             Vs
             ,
             Our
             Heirs
             and
             Successors
             ,
             We
             do
             Condescend
             and
             Grant
             unto
             the
             said
          
           Governour
           and
           Company
           of
           Merchants
           of
           London
           ,
           Trading
           into
           the
           
             East-Indies
             ,
             and
             their
             Successors
             ,
             That
             We
             ,
             Our
             Heirs
             and
             Successors
             ,
          
           
           (
           
             during
             all
             the
             Time
             that
             these
             Our
             Letters
             Patents
             shall
             be
             ,
             and
             remain
             ,
             in
             Force
             ,
             as
             aforesaid
             )
             will
             not
             grant
             Liberty
             ,
             License
             or
             Power
             ,
             to
             any
             Person
             or
             Persons
             whatsoever
             ,
             contrary
             to
             the
             Tenor
             of
             these
             Our
             Letters
             Patents
             ,
             to
             Sail
             ,
             Pass
             ,
             Trade
             or
             Traffick
             ,
             to
             the
             said
          
           East-Indies
           ,
           
             or
             into
             ,
             or
             from
             ,
             any
             the
             Islands
             ,
             Ports
             ,
             Havens
             ,
             Cities
             ,
             Towns
             ,
             or
             Places
             aforesaid
             ,
             or
             any
             of
             them
             ,
             contrary
             to
             the
             true
             Meaning
             of
             these
             Presents
             ,
             without
             the
             Consent
             of
             the
             said
          
           Governour
           and
           Company
           of
           Merchants
           of
           London
           ,
           Trading
           into
           the
           
             East-Indies
             ,
             or
             the
             most
             part
             of
             them
             .
          
        
         
           Subsequent
           to
           this
           ,
           viz.
           20
           Car.
           2.
           they
           had
           another
           Charter
           ;
           whereby
           the
           Inheritance
           of
           the
           Island
           of
           Bombay
           ,
           is
           Granted
           to
           the
           Company
           ,
           
           and
           they
           are
           thereby
           ,
           
             for
             ever
             ,
             Made
             and
             Constituted
             the
             true
             Lords
             and
             Proprietors
             of
             it
             .
          
           And
           this
           Grant
           has
           incouraged
           the
           Company
           to
           Expend
           ,
           out
           of
           their
           Quick
           Stock
           ,
           very
           great
           Sums
           of
           Money
           ,
           
           from
           time
           to
           time
           ,
           to
           Fortifie
           the
           said
           Island
           ,
           which
           is
           one
           of
           the
           principal
           Securities
           of
           their
           Effects
           ,
           and
           of
           the
           English
           Ships
           Trading
           thither
           .
        
         
           
           The
           Company
           have
           since
           had
           other
           Charters
           .
           That
           of
           25
           Car.
           2.
           takes
           Notice
           ,
           That
           Sancta
           Helena
           ,
           
             which
             had
             been
             Granted
             to
             them
             ,
             was
             Taken
             during
             the
             then
             War
             ;
             which
             ,
             by
             being
             Retaken
             by
             the
             King's
             Forces
             ,
             became
             Vested
             in
             the
             Crown
             .
          
           This
           Charter
           therefore
           Regrants
           the
           
             perpetual
             Propriety
             of
          
           Sancta
           Helena
           
             to
             the
             Company
          
           :
           And
           in
           Fortifying
           this
           Island
           ,
           for
           the
           future
           Benefit
           and
           Security
           of
           English
           Traders
           ,
           they
           have
           likewise
           Expended
           considerable
           Sums
           .
        
         
           
           They
           had
           another
           Charter
           ,
           2
           Jac.
           2.
           which
           Recites
           the
           other
           Charters
           ,
           
             and
             the
             Benefits
             arising
             to
             the
             Nation
             ,
             from
             the
             Trade
          
           ;
           and
           Confirms
           to
           them
           their
           former
           Priviledges
           and
           Immunities
           .
        
         
           The
           Grants
           here
           Recited
           ,
           did
           induce
           the
           Adventurers
           to
           think
           ,
           That
           they
           had
           a
           Right
           ,
           in
           Law
           ,
           to
           the
           Trade
           ;
           at
           least
           ,
           that
           they
           should
           have
           an
           Uncontroverted
           Title
           to
           the
           Land
           of
           Inheritance
           ,
           the
           Towns
           ,
           Forts
           and
           Castles
           ,
           Rents
           and
           Dues
           ,
           purchas'd
           in
           India
           with
           their
           own
           Money
           :
           Upon
           which
           Presumption
           ,
           and
           Relying
           upon
           the
           Publick
           Faith
           ,
           and
           Credit
           of
           the
           Great
           Seal
           of
           England
           ,
           for
           the
           Preservation
           of
           their
           Property
           ,
           
           They
           have
           since
           the
           Year
           1661
           ,
           Expended
           upwards
           of
           a
           Million
           ,
           as
           they
           are
           ready
           to
           make
           appear
           ,
           in
           Extending
           their
           Territory
           ,
           and
           in
           Fortifying
           several
           Places
           ,
           for
           the
           greater
           Ease
           and
           Safety
           of
           their
           Factors
           .
           All
           which
           they
           did
           ,
           in
           order
           
           to
           preserve
           their
           Factors
           and
           Servants
           from
           the
           Insults
           of
           the
           Natives
           ,
           and
           the
           Incroachments
           of
           European
           Traders
           ,
           
           and
           to
           render
           the
           Trade
           more
           Lasting
           to
           this
           Kingdom
           .
           And
           in
           Prospect
           of
           this
           Right
           ,
           which
           they
           humbly
           hop'd
           would
           never
           have
           been
           Disturbed
           ,
           They
           have
           acquired
           ,
           at
           such
           their
           Expence
           ,
           Revenues
           at
           Fort
           St.
           George
           ,
           
           Bombay
           ,
           and
           at
           Fort
           St.
           Davids
           ,
           in
           Persia
           ,
           and
           elsewhere
           ,
           of
           above
           44000
           
             l.
             per
             Annum
          
           ,
           which
           are
           Daily
           increasing
           ,
           and
           a
           large
           Extent
           of
           Lands
           in
           the
           respective
           Places
           .
           
           They
           have
           also
           Erected
           divers
           Forts
           and
           Settlements
           ,
           and
           procur'd
           Territories
           in
           the
           Island
           of
           Sumatra
           ,
           and
           in
           the
           Queen
           of
           Attinga's
           Country
           ,
           and
           elsewhere
           ,
           on
           the
           Coast
           of
           Malabar
           ;
           without
           which
           ,
           the
           Pepper
           Trade
           must
           have
           been
           intirely
           Lost
           to
           England
           .
           And
           they
           have
           Erected
           a
           strong
           Fortification
           in
           Bengale
           ,
           with
           several
           Factories
           ,
           some
           of
           them
           Fortify'd
           ,
           
           and
           many
           Buildings
           and
           Settlements
           ,
           in
           divers
           other
           Parts
           ,
           within
           the
           Limits
           of
           their
           Traffick
           :
           And
           they
           have
           Purchas'd
           of
           the
           Indian
           Princes
           ,
           and
           others
           ,
           at
           a
           great
           Rate
           ,
           
           many
           Priviledges
           and
           Immunities
           .
           All
           which
           they
           were
           Incourag'd
           to
           do
           ,
           out
           of
           a
           firm
           Belief
           that
           their
           said
           Rights
           and
           Inheritances
           ,
           upon
           all
           Occasions
           ,
           would
           be
           Objects
           of
           the
           Publick
           Care.
           
        
         
           Since
           His
           Majesty's
           happy
           Accession
           to
           the
           Throne
           ,
           in
           several
           Committes
           of
           the
           Honourable
           the
           House
           of
           Commons
           ,
           appointed
           to
           consider
           of
           the
           East-India
           Trade
           ;
           and
           in
           Committees
           of
           the
           whole
           House
           ,
           and
           by
           the
           House
           ,
           as
           also
           by
           your
           Lordships
           ,
           it
           has
           been
           declar'd
           ,
           
           That
           the
           East-India
           Trade
           should
           be
           carry'd
           on
           in
           a
           Joynt-Stock
           exclusive
           to
           all
           Others
           .
           During
           the
           Transaction
           of
           this
           Matter
           in
           Parliament
           ,
           His
           Majesty
           was
           pleased
           to
           signifie
           ,
           in
           a
           Message
           to
           the
           House
           of
           Commons
           ,
           of
           the
           14th
           of
           November
           1692
           ,
           
             That
             upon
             Examination
             of
             the
             Charters
             ,
             and
             consulting
             with
             His
             Judges
             ,
             and
             Learned
             Council
             ,
          
           
           
             His
             Majesty
             found
             that
             He
             could
             not
             legally
             dissolve
             the
             Company
             ,
             but
             upon
             Three
             Years
             Warning
             ;
             and
             that
             during
             the
             Three
             Years
             ,
             after
             warning
             ,
             the
             Company
             must
             subsist
             ,
             and
             might
             continue
             to
             Trade
             :
             And
             that
             though
             the
             King
             might
             constitute
             a
             new
             Company
             ,
             yet
             he
             could
             not
             impower
             such
             new
             Company
             to
             Trade
             ,
             till
             after
             Three
             Years
             :
             The
             Crown
             having
             expresly
             covenanted
             ,
             not
             to
             Grant
             any
             such
             Liberty
             .
          
        
         
           
             Hereupon
             His
             Majesty
             was
             very
             apprehensive
             of
             the
             ill
             Consequence
             of
             giving
             Warning
             to
             the
             Company
             ,
             because
             they
             would
             then
             be
             less
             Solicitous
             of
             promoting
             the
             true
             Interest
             ,
             and
             Advantage
             ,
             of
             a
             Trade
             ,
             whereof
             they
             would
             not
             long
             reap
             the
             Fruits
             :
             And
             that
             no
             new
             Company
             could
             be
             immediately
             admitted
             to
             it
             .
             So
             that
             this
             very
             Beneficial
             Trade
             ,
             which
             is
             already
             so
             much
             impair'd
             ,
             might
             be
             in
             danger
             of
             being
             intirely
             lost
             to
             the
             Nation
             .
          
        
         
           And
           in
           the
           Close
           of
           his
           Message
           ,
           upon
           that
           occasion
           ,
           His
           Majesty
           was
           graciously
           pleas'd
           ,
           to
           recommend
           to
           the
           House
           of
           Commons
           ,
           
             The
             Preparing
             such
             a
             Bill
             ,
             in
             Order
             to
             pass
             into
             an
             Act
             of
             Parliament
             ,
             as
             might
             establish
             this
             Trade
             ,
             on
             such
             Foundations
             ,
             as
             were
             most
             likely
             to
             preserve
             and
             advance
             it
             .
          
        
         
           After
           this
           ,
           the
           Interlopers
           started
           a
           Suggestion
           ,
           That
           the
           Companies
           Charter
           was
           forfeited
           ,
           
           upon
           the
           Non-payment
           of
           the
           first
           Quarterly
           Assessment
           ,
           of
           5
           
             per
             Cent.
          
           Charg'd
           upon
           their
           whole
           Stock
           ,
           though
           the
           Companies
           Agent
           ,
           upon
           the
           day
           limited
           by
           the
           Act
           ,
           viz.
           the
           25th
           of
           March
           1693
           ,
           went
           up
           to
           the
           Exchequer
           ,
           in
           order
           to
           pay
           it
           in
           ;
           but
           found
           the
           Exchequer
           not
           open
           ,
           the
           same
           being
           an
           Holy-day
           ,
           and
           the
           Printed
           Act
           not
           being
           publick
           till
           that
           Morning
           .
        
         
         
           〈◊〉
           Enemies
           of
           the
           Company
           ,
           designing
           to
           take
           this
           Advantage
           over
           them
           ,
           They
           did
           ,
           with
           all
           Humility
           ,
           apply
           themselves
           to
           the
           King
           ;
           and
           His
           Majesty
           ,
           weighing
           in
           his
           Princely
           Wisdom
           ,
           That
           the
           Uncertainty
           of
           the
           Companies
           Affairs
           ,
           might
           occasion
           the
           total
           Loss
           of
           this
           Rich
           Trade
           ;
           
           and
           in
           his
           Goodness
           ,
           Commiserating
           the
           Losses
           ,
           about
           that
           time
           ,
           sustain'd
           by
           them
           ,
           he
           was
           graciously
           pleas'd
           to
           give
           them
           Assurance
           ,
           on
           the
           12th
           of
           May
           following
           ,
           That
           no
           Advantage
           should
           be
           taken
           of
           their
           Forfeiture
           ,
           the
           Attorny
           General
           having
           then
           Orders
           ,
           to
           draw
           up
           a
           new
           Charter
           .
        
         
           And
           it
           appearing
           ,
           that
           His
           Majesty
           was
           graciously
           dispos'd
           ,
           to
           grant
           the
           Company
           a
           Charter
           ,
           there
           were
           Petitions
           exhibited
           against
           it
           ,
           
           by
           the
           Interlopers
           ;
           and
           the
           Matter
           was
           contested
           many
           days
           ,
           before
           the
           Queen
           and
           Council
           ,
           and
           every
           Article
           of
           the
           intended
           Regulations
           was
           weigh'd
           ,
           and
           consider'd
           ,
           with
           great
           Deliberation
           .
           This
           Business
           being
           in
           Debate
           ,
           from
           March
           1693
           ,
           to
           the
           7th
           of
           October
           following
           ;
           at
           which
           time
           the
           Charter
           had
           the
           Seal
           ,
           with
           a
           Proviso
           ,
           That
           if
           the
           said
           Company
           did
           not
           submit
           ,
           and
           conform
           ,
           to
           such
           Alterations
           ,
           Restrictions
           ,
           and
           Qualifications
           ,
           as
           the
           King
           should
           make
           ,
           before
           the
           29th
           of
           September
           following
           ;
           It
           should
           be
           lawful
           for
           His
           Majesty
           ,
           to
           Revoke
           the
           said
           Charter
           .
        
         
           
           On
           the
           7th
           of
           November
           ,
           the
           Parliament
           met
           ,
           and
           on
           the
           11th
           following
           ,
           the
           Company
           had
           a
           new
           Charter
           of
           Regulations
           ;
           which
           in
           most
           material
           Points
           ,
           was
           fram'd
           pursuant
           to
           the
           Regulations
           formerly
           propos'd
           in
           Parliament
           .
        
         
           
           Upon
           the
           Security
           of
           this
           Charter
           ,
           the
           Company
           consented
           to
           a
           new
           Subscription
           ,
           and
           there
           was
           Subscrib'd
           a-new
           ,
           into
           the
           said
           Stock
           ,
           about
           1200,000
           l.
           and
           reduced
           accordingly
           to
           744,000
           l.
           which
           new
           Subscriptions
           were
           made
           ,
           and
           the
           Mony
           thereupon
           brought
           in
           ,
           Sitting
           the
           Parliament
           .
        
         
           And
           ,
           during
           that
           part
           of
           the
           Sessions
           ,
           in
           which
           the
           744,000
           l.
           were
           subscrib'd
           ,
           
           and
           paid
           in
           ,
           as
           an
           Addition
           to
           the
           former
           Joynt-Stock
           ,
           for
           enlarging
           ,
           and
           making
           the
           Trade
           more
           National
           ;
           nothing
           was
           done
           ,
           said
           ,
           or
           offer'd
           ,
           against
           the
           Charter
           of
           Regulations
           ;
           on
           the
           Strength
           ,
           and
           Credit
           of
           which
           ,
           the
           new
           Subscriptions
           were
           made
           :
           So
           that
           upon
           the
           Publick
           Faith
           ,
           
           (
           at
           least
           tacitly
           given
           )
           781
           new
           Adventurers
           ,
           of
           which
           many
           are
           Widows
           ,
           and
           Orphans
           ,
           did
           subscribe
           a
           large
           part
           of
           their
           Substance
           ,
           to
           support
           this
           Trade
           ,
           during
           a
           hazardous
           War
           ,
           for
           the
           Profit
           and
           Honour
           of
           England
           .
        
         
           And
           it
           having
           been
           so
           frequently
           Resolv'd
           ,
           That
           this
           Trade
           was
           Beneficial
           ,
           That
           it
           was
           best
           to
           be
           carry'd
           on
           in
           a
           Joynt-Stock
           :
           And
           the
           principal
           Regulations
           having
           been
           pursu'd
           ,
           which
           had
           been
           propos'd
           in
           Parliament
           ;
           the
           new
           Adventurers
           thought
           they
           might
           ,
           without
           any
           Hazard
           ,
           subscribe
           on
           the
           Security
           of
           a
           Charter
           ,
           which
           was
           so
           plainly
           design'd
           by
           His
           Majesty
           ,
           to
           preserve
           the
           East-India
           Traffick
           ,
           
           then
           in
           danger
           of
           being
           lost
           .
           And
           in
           less
           than
           six
           Months
           ,
           from
           the
           Date
           of
           the
           said
           Charter
           ,
           the
           Company
           did
           set
           out
           eleven
           Ships
           ,
           richly
           Frighted
           .
           And
           in
           Obedience
           to
           an
           Order
           of
           His
           Majesty
           in
           Council
           ,
           
           did
           thereon
           lade
           above
           the
           Value
           of
           150,000
           l.
           in
           Woollen
           ,
           and
           other
           Goods
           ,
           of
           the
           Product
           ,
           and
           Manufacture
           ,
           of
           this
           Kingdom
           .
        
         
           
           During
           the
           then
           Prorogation
           of
           the
           Parliament
           ,
           It
           was
           the
           Pleasure
           of
           their
           Majesties
           ,
           to
           order
           a
           second
           Charter
           of
           Regulations
           ,
           dated
           the
           28th
           of
           September
           1694
           ,
           to
           obviate
           some
           Objections
           that
           had
           been
           made
           .
        
         
         
           In
           these
           Charters
           of
           Regulations
           ,
           there
           are
           many
           Provisions
           made
           ,
           for
           the
           General
           Benefit
           of
           Trade
           ,
           and
           for
           the
           Publick
           Weale
           of
           this
           Kingdom
           :
           Particularly
           ,
           the
           Company
           is
           thereby
           oblig'd
           ,
           to
           Export
           to
           the
           East-Indies
           ,
           to
           the
           Yearly
           Value
           of
           100,000
           l.
           at
           the
           least
           ,
           
           in
           Goods
           of
           the
           Growth
           ,
           Product
           ,
           or
           Manufacture
           ,
           of
           England
           ;
           and
           to
           furnish
           the
           Crown
           Yearly
           with
           500
           Tun
           of
           Salt-petre
           ,
           at
           the
           〈◊〉
           of
           38
           l.
           10
           
             s.
             per
          
           Tun
           ,
           in
           time
           of
           Peace
           ;
           and
           45
           
             l.
             per
          
           Tun
           ,
           in
           time
           of
           War
           :
           The
           Company
           are
           ready
           to
           make
           appear
           ,
           of
           what
           Advantage
           their
           Yearly
           Exportation
           of
           Woollen
           Manufacture
           ,
           
           has
           been
           to
           this
           Nation
           ;
           and
           that
           they
           have
           carry'd
           out
           Draperies
           to
           a
           great
           Value
           ;
           which
           would
           not
           have
           been
           exported
           by
           any
           other
           Trade
           .
           And
           it
           must
           be
           owned
           ,
           That
           the
           Companies
           Obligation
           ,
           to
           serve
           the
           Crown
           with
           Salt-petre
           at
           such
           a
           Price
           ,
           has
           sav'd
           the
           King
           a
           great
           Sum
           ,
           during
           the
           last
           War
           ;
           
           the
           Market-price
           being
           generally
           70
           
             l.
             per
          
           Tun
           ,
           and
           upwards
           .
        
         
           Since
           this
           time
           ,
           the
           Company
           have
           lost
           several
           Rich
           Ships
           ,
           
           outward
           ,
           and
           homeward
           ,
           bound
           ;
           and
           having
           born
           the
           Brunt
           of
           the
           War
           ,
           and
           supported
           the
           Trade
           ,
           in
           times
           of
           Hazard
           ,
           they
           well
           hop'd
           to
           receive
           some
           Returns
           of
           Profit
           ,
           in
           time
           of
           Peace
           .
        
         
           Upon
           which
           account
           ,
           an
           Intimation
           having
           been
           given
           ,
           in
           December
           last
           ,
           to
           some
           of
           the
           Court
           of
           Committees
           ,
           
           by
           persons
           of
           considerable
           Rank
           in
           the
           Government
           ,
           That
           a
           Proposal
           from
           the
           East-India
           Company
           ,
           to
           make
           a
           Loan
           ,
           might
           be
           acceptable
           ,
           They
           sounded
           several
           Members
           of
           their
           Body
           ,
           how
           they
           stood
           dispos'd
           ,
           to
           advance
           a
           Sum
           of
           Money
           ,
           in
           Consideration
           of
           a
           Settlement
           ,
           by
           Authority
           of
           Parliament
           ;
           and
           finding
           many
           inclin'd
           to
           it
           ,
           They
           resolv'd
           to
           take
           the
           first
           seasonable
           Opportunity
           ,
           to
           lay
           this
           Matter
           before
           a
           General
           Court
           ;
           and
           accordingly
           ,
           It
           was
           propos'd
           ,
           and
           agreed
           ,
           in
           a
           General
           Court
           of
           Adventurers
           ,
           for
           the
           General
           Joynt-Stock
           to
           the
           East-Indies
           ,
           held
           the
           14th
           of
           April
           1698
           ,
           
           That
           by
           settling
           the
           East-India
           Company
           ,
           a
           Loan
           of
           700,000
           l.
           may
           be
           made
           ;
           which
           Proposal
           is
           ready
           to
           be
           exhibited
           to
           your
           Lordships
           :
           And
           the
           Court
           pitch'd
           upon
           this
           Sum
           ,
           because
           it
           did
           formerly
           seem
           the
           publick
           Sence
           ,
           that
           an
           Establishment
           might
           be
           reasonably
           granted
           (
           their
           Sufferings
           by
           the
           War
           consider'd
           )
           for
           the
           Loan
           of
           600,000
           l.
           
        
         
           They
           were
           not
           without
           some
           Encouragement
           ,
           to
           offer
           this
           Proposal
           ;
           But
           as
           it
           has
           since
           appear'd
           ,
           there
           was
           privately
           carry'd
           on
           ,
           by
           the
           Interlopers
           ,
           a
           Design
           ,
           of
           proposing
           a
           far
           larger
           Sum
           :
           For
           some
           few
           days
           after
           the
           Companies
           Offer
           of
           700,000
           l.
           was
           made
           ,
           
           Mr.
           
           Sheppard's
           Proposal
           of
           Two
           Millions
           was
           mention'd
           ;
           and
           on
           the
           20th
           of
           May
           ,
           tender'd
           to
           the
           House
           of
           Commons
           .
        
         
           And
           (
           whereas
           formerly
           it
           has
           been
           the
           constant
           Custom
           ,
           in
           Farms
           ,
           Bargains
           ,
           and
           Offers
           of
           the
           like
           Nature
           ,
           not
           to
           close
           with
           a
           new
           Proposal
           ,
           till
           the
           first
           Bidder
           be
           ask'd
           ,
           whether
           he
           is
           able
           to
           advance
           farther
           )
           in
           this
           Case
           ,
           the
           Company
           ,
           notwithstanding
           their
           Charter
           ,
           and
           the
           Right
           they
           have
           to
           the
           Trade
           ,
           were
           early
           told
           ,
           without
           doors
           ,
           That
           their
           Proposal
           should
           be
           oppos'd
           ,
           though
           they
           would
           lay
           down
           the
           two
           Millions
           in
           question
           .
        
         
           However
           ,
           the
           Company
           thought
           it
           their
           Duty
           ,
           to
           do
           their
           Utmost
           for
           the
           Service
           of
           the
           Government
           :
           And
           being
           inform'd
           of
           Resolutions
           made
           by
           the
           Honourable
           House
           of
           Commons
           ,
           
           for
           the
           raising
           Two
           Millions
           ,
           on
           a
           Fund
           of
           8
           
             per
             Cent.
          
           with
           the
           Additional
           Advantage
           of
           the
           Trade
           to
           the
           East-Indies
           ;
           They
           (
           for
           the
           Preservation
           of
           above
           a
           Thousand
           Families
           ,
           interested
           in
           their
           Joynt-Stock
           )
           in
           a
           
           General
           Court
           held
           the
           10th
           of
           June
           Instant
           ,
           did
           agree
           to
           submit
           their
           present
           Stock
           ,
           to
           a
           Valuation
           of
           50
           
             per
             Cent.
          
           viz.
           20
           
             per
             Cent.
          
           for
           their
           dead
           Stock
           ,
           
           and
           30
           
             per
             Cent.
          
           for
           their
           quick
           Stock
           (
           which
           they
           were
           contented
           to
           warrant
           at
           the
           said
           Sum
           )
           and
           upon
           these
           Terms
           they
           offer'd
           to
           open
           their
           Books
           for
           new
           Subscriptions
           ,
           in
           order
           to
           raise
           the
           said
           two
           Millions
           :
           And
           afterwards
           ,
           to
           ascertain
           the
           Payment
           of
           the
           said
           two
           Millions
           ,
           they
           held
           a
           General
           Court
           on
           the
           20th
           instant
           ,
           
           in
           which
           they
           agreed
           to
           an
           immediate
           Subscription
           by
           private
           Adventurers
           ,
           of
           200,000
           l.
           to
           be
           paid
           as
           the
           first
           Payment
           ,
           subject
           to
           make
           good
           the
           subsequent
           Payments
           ;
           which
           Subscription
           was
           accordingly
           made
           ,
           by
           persons
           of
           known
           Abilities
           and
           Substance
           .
           And
           these
           two
           Proposals
           ,
           the
           Company
           is
           likewise
           ready
           to
           exhibit
           to
           your
           Lordships
           .
        
         
           And
           the
           Company
           will
           presume
           ,
           Humbly
           to
           affirm
           before
           your
           Lordships
           ,
           
           that
           ,
           from
           the
           Resolution
           and
           Chearfulness
           ,
           which
           was
           observ'd
           among
           the
           Adventurers
           ,
           they
           have
           Grounds
           of
           Assurance
           ,
           that
           the
           Government
           might
           have
           firmly
           depended
           upon
           the
           Performance
           of
           such
           their
           Proposal
           .
        
         
           But
           ,
           May
           it
           please
           your
           Lordships
           ;
           the
           Company
           is
           inform'd
           ,
           that
           there
           is
           a
           Bill
           pass'd
           the
           Honourable
           House
           of
           Commons
           ,
           and
           now
           depending
           before
           your
           Lordships
           ,
           
           which
           highly
           tends
           to
           the
           Prejudice
           of
           the
           Companies
           Charters
           ,
           and
           Rights
           thereby
           granted
           ;
           and
           also
           to
           deprive
           them
           of
           the
           Property
           which
           they
           have
           in
           Lands
           of
           Inheritance
           ,
           and
           other
           Estates
           and
           Interests
           in
           Forreign
           Parts
           ,
           to
           the
           Value
           of
           44000
           
             l.
             per
             Annum
          
           :
           
           which
           Bill
           likewise
           ,
           by
           undeniable
           Consequence
           ,
           deprives
           them
           of
           their
           Possession
           and
           Right
           ,
           in
           several
           Forts
           and
           Fortifications
           ;
           the
           Purchase
           and
           Improvement
           of
           which
           ,
           have
           ,
           at
           several
           times
           ,
           cost
           them
           above
           a
           Million
           of
           Pounds
           Sterling
           .
        
         
           And
           they
           crave
           leave
           ,
           humbly
           to
           lay
           before
           your
           Lordships
           ,
           that
           this
           Bill
           grants
           to
           a
           General
           Society
           to
           be
           establish'd
           ,
           
             That
             from
             the
          
           29
           
             th
             day
             of
          
           September
           1698
           ,
           
           
             they
             shall
             have
             ,
             use
             and
             enjoy
             ,
             the
             whole
             and
             sole
             Trade
             and
             Traffick
             ,
             to
             and
             from
             the
          
           East-Indies
           ;
           
             and
             the
             only
             Liberty
             ,
             Vse
             and
             Priviledge
             ,
             of
             Trading
             and
             Trafficking
             thither
             .
          
           Which
           Grant
           ,
           the
           Company
           humbly
           conceives
           ,
           to
           be
           directly
           contrary
           to
           the
           Tenour
           of
           their
           several
           Charters
           ,
           
           viz.
           Of
           that
           from
           King
           Charles
           the
           Second
           ,
           dated
           April
           the
           3d
           1661
           ,
           whereby
           
             there
             is
             granted
             to
             the
             Company
             ,
             for
             the
             King
             ,
             his
             Heirs
             and
             Successors
             ,
             That
             they
             shall
             for
             ever
             hereafter
             ,
             have
             ,
             use
             and
             enjoy
             ,
             the
             whole
             ,
             intire
             ,
             and
             only
             Trade
             and
             Traffick
             ,
             to
             and
             from
             the
             said
          
           East-Indies
           ;
           subject
           to
           the
           Conditions
           therein
           mentioned
           .
           And
           directly
           contrary
           to
           one
           other
           Charter
           from
           His
           present
           Majesty
           ,
           bearing
           date
           the
           7th
           of
           October
           1693
           ,
           whereby
           the
           
             King
             ,
             for
             Himself
             ,
             His
             Heirs
             and
             Successors
             ,
             grants
             to
             the
             Company
             ,
             to
             have
             ,
             hold
             ,
             use
             ,
             exercise
             and
             enjoy
             ,
             the
             Ports
             ,
             Islands
             ,
             Plantations
             ,
             Territories
             ,
             Castles
             ,
             Powers
             and
             Priviledges
             ,
             in
             such
             and
             the
             same
             Manner
             ,
             as
             they
             might
             or
             ought
             lawfully
             to
             have
             held
             the
             same
             by
             their
             former
             Charters
             ,
             subject
             to
             the
             Conditions
             therein
             mention'd
             .
          
           And
           contrary
           to
           one
           other
           Charter
           of
           His
           said
           Majesty
           ,
           bearing
           date
           the
           11th
           of
           November
           1693
           ,
           whereby
           the
           
             King
             ,
             for
             Himself
             ,
             His
             Heirs
             and
             Successors
             ,
             does
             Order
             ,
             Direct
             ,
             Limit
             and
             Appoint
             ,
             That
             the
             Joynt-Stock
             of
             the
             said
             Governour
             and
             Company
             ,
             shall
             continue
             One
             and
             Twenty
             Years
             ,
             to
             be
             computed
             from
             the
             Date
             of
             the
             said
             Letters
             Patents
             ,
             subject
             to
             the
             Conditions
             therein
             mention'd
             .
          
        
         
           The
           Company
           humbly
           submit
           to
           the
           Consideration
           of
           your
           Lordships
           ,
           
           That
           since
           the
           said
           Charters
           were
           granted
           ,
           no
           Breach
           or
           Forfeiture
           of
           their
           Rights
           ,
           has
           been
           committed
           by
           ,
           or
           pretended
           to
           be
           charg'd
           upon
           them
           .
        
         
         
           'T
           is
           true
           ,
           that
           in
           a
           Charter
           from
           His
           Present
           Majesty
           ,
           
           bearing
           Date
           the
           28th
           of
           September
           ,
           1694
           ,
           there
           is
           a
           Provisoe
           ,
           
             That
             if
             it
             shall
             appear
             to
             the
             King
             ,
             His
             Heirs
             or
             Successors
             ,
             that
             the
             said
             two
             Charters
             ,
             or
             any
             other
             Charters
             ,
             heretofore
             Granted
             ,
             shall
             not
             be
             Profitable
             to
             the
             King
             ,
             his
             Heirs
             or
             Successors
             ,
             or
             to
             this
             Realm
             ,
             that
             then
             ,
             and
             from
             thenceforth
             ,
             upon
             and
             after
             Three
             Years
             VVarning
             ,
             to
             be
             given
             to
             the
             said
             Company
             ,
             by
             the
             King
             ,
             His
             Heirs
             and
             Successors
             ,
             under
             His
             or
             Their
             Privy
             Seal
             ,
             or
             Sign
             Manual
             ,
             the
             said
             several
             Letters
             Patents
             ,
          
           &c.
           
             shall
             cease
             ,
             be
             void
             ,
             and
             be
             determin'd
             .
          
           But
           the
           Bill
           now
           depending
           ,
           does
           in
           no
           part
           suggest
           ,
           That
           the
           said
           Charters
           ,
           or
           the
           Trade
           from
           thence
           arising
           ,
           have
           been
           Unprofitable
           to
           the
           King
           or
           Kingdom
           .
           
           On
           the
           contrary
           ,
           the
           Trade
           depending
           upon
           the
           said
           Charters
           ,
           is
           rather
           declar'd
           Profitable
           by
           the
           Scope
           of
           the
           said
           Bill
           ,
           being
           thereby
           made
           the
           Recompence
           and
           Incouragement
           for
           raising
           of
           Two
           Millions
           .
           But
           if
           the
           said
           Charters
           ,
           upon
           the
           present
           Exigency
           ,
           should
           be
           pretended
           Unprofitable
           to
           the
           King
           ,
           and
           His
           Realm
           ,
           by
           being
           a
           Bar
           to
           the
           raising
           of
           this
           Supply
           ,
           yet
           the
           Companies
           Offer
           ,
           and
           Proposal
           aforesaid
           ,
           removes
           ,
           as
           't
           is
           hop'd
           ,
           that
           Pretence
           .
           And
           the
           Company
           submit
           it
           to
           the
           Wisdom
           and
           Justice
           of
           Your
           Lordships
           ,
           
           Whether
           their
           Charters
           shall
           be
           thus
           prejudg'd
           Unprofitable
           ;
           and
           whether
           the
           Rights
           thereby
           Granted
           ,
           ought
           not
           to
           remain
           ,
           till
           the
           said
           Charters
           are
           found
           Unprofitable
           to
           the
           King
           ,
           and
           His
           Realm
           ,
           by
           the
           usual
           Forms
           of
           Law
           ?
        
         
           The
           Bill
           now
           depending
           Enacts
           ,
           
           
             That
             after
             the
          
           29
           
             th
             of
          
           September
           the
           East-Indies
           
             shall
             not
             be
             visited
             ,
             frequented
             ,
             or
             haunted
             ,
             by
             any
             other
             of
             the
             Subjects
             of
             His
             Majesty
             ,
          
           &c.
           
             during
             such
             time
             ,
             as
             the
             Benefit
             of
             Trade
             thereby
             given
             ,
             or
             intended
             to
             be
             given
             to
             the
             Subscribers
             ,
             ought
             to
             continue
             ,
          
           And
           the
           said
           Bill
           lays
           great
           Penalties
           ,
           
           upon
           such
           as
           shall
           do
           any
           thing
           ,
           contrary
           to
           the
           Intent
           and
           Purport
           of
           the
           said
           Act.
           'T
           is
           true
           ,
           in
           a
           subsequent
           Clause
           ,
           Provision
           is
           made
           ,
           
           
             That
             the
             Company
             may
             continue
             Trading
             to
             the
          
           East-Indies
           
             for
             Three
             Years
          
           ;
           viz.
           
             to
             the
          
           29
           
             th
             of
          
           September
           ,
           1701
           :
           But
           after
           that
           Time
           ,
           (
           being
           prohibited
           resorting
           thither
           )
           the
           Forts
           and
           Castles
           ,
           which
           have
           cost
           a
           Million
           ,
           
           Erected
           in
           those
           Parts
           ,
           will
           be
           a
           dead
           Loss
           upon
           them
           ,
           and
           they
           can
           reap
           no
           manner
           of
           Advantage
           ,
           from
           their
           Plantations
           ,
           Edifices
           ,
           Dues
           ,
           and
           Rights
           ,
           in
           India
           and
           Persia
           ,
           which
           now
           yield
           them
           44000
           
             l.
             per
             Annum
          
           .
           And
           't
           is
           humbly
           hop'd
           that
           Your
           Lordships
           will
           not
           think
           it
           consistent
           with
           Your
           Justice
           ,
           to
           give
           Property
           so
           large
           a
           Wound
           .
        
         
           Not
           only
           the
           Company
           must
           suffer
           an
           Immense
           Loss
           ,
           by
           this
           intended
           Dissolution
           of
           their
           Charter
           ,
           without
           any
           Provision
           for
           the
           Reimbursement
           of
           their
           Expences
           ,
           and
           without
           any
           Satisfaction
           for
           their
           Lands
           ,
           and
           Rights
           of
           Inheritance
           ,
           in
           those
           Parts
           ,
           (
           which
           they
           hope
           will
           have
           its
           due
           Weight
           with
           Your
           Lordships
           )
           ;
           but
           they
           presume
           ,
           they
           shall
           be
           able
           to
           show
           ,
           That
           the
           Kingdom
           in
           General
           ,
           
           and
           the
           Trade
           it self
           ,
           must
           receive
           great
           Prejudice
           ,
           by
           this
           sudden
           Dissolution
           of
           the
           Charter
           ,
           and
           shifting
           of
           Hands
           ,
           without
           Previous
           Agreements
           ,
           and
           Stipulations
           with
           the
           Indian
           Princes
           and
           Governours
           .
        
         
           It
           would
           be
           less
           Prejudicial
           ,
           to
           the
           Body
           of
           this
           Kingdom
           ,
           if
           what
           were
           Lost
           to
           the
           Company
           ,
           in
           their
           Revenue
           arising
           in
           India
           ,
           
           were
           like
           to
           accrue
           to
           their
           Successors
           :
           But
           their
           Rents
           at
           Fort
           St.
           George
           ,
           Fort
           St.
           Davids
           ,
           and
           at
           Bombay
           ,
           being
           produced
           from
           the
           Particulars
           following
           ;
           viz.
           From
           5
           
             l.
             per
             Cent.
          
           Custom
           on
           all
           private
           Persons
           Goods
           Imported
           ,
           or
           Exported
           ,
           by
           Sea
           :
           From
           Licenses
           for
           selling
           
           Company
           ,
           yet
           that
           New
           Company
           ought
           not
           to
           Trade
           ,
           during
           the
           Three
           Years
           ,
           by
           Reason
           His
           Majesty
           has
           Covenanted
           to
           the
           contrary
           .
           
           The
           Bill
           impowers
           any
           New
           Corporation
           ,
           or
           Subscribers
           ,
           to
           Trade
           ,
           even
           during
           the
           said
           Three
           Years
           ,
           concurrent
           with
           the
           Company
           ;
           
           but
           with
           this
           disadvantageous
           difference
           ,
           That
           the
           Company
           must
           send
           out
           every
           Year
           a
           Hundred
           Thousand
           Pounds
           in
           Woollen
           Manufacture
           ,
           and
           the
           New
           Subscribers
           none
           :
           The
           Company
           must
           deliver
           to
           the
           King
           500
           Tuns
           of
           Salt
           petre
           ,
           at
           an
           under-value
           ,
           the
           New
           Subscribers
           none
           :
           They
           are
           charged
           with
           Taxes
           for
           their
           Capital
           Stock
           ,
           the
           New
           Subscribers
           are
           exempted
           by
           the
           Act
           from
           Payment
           of
           Taxes
           :
           The
           Company
           must
           maintain
           their
           Forts
           and
           Castles
           ,
           and
           the
           New
           Subscribers
           will
           have
           an
           equal
           Benefit
           in
           the
           Trade
           .
           So
           that
           this
           unequal
           Burthen
           ,
           is
           in
           effect
           immediately
           depriving
           them
           of
           the
           Trade
           .
           And
           't
           is
           plain
           ,
           from
           this
           inequality
           ,
           although
           they
           are
           allowed
           Three
           Years
           ,
           they
           can
           thereby
           reap
           no
           Benefit
           .
        
         
           And
           't
           is
           likewise
           humbly
           laid
           before
           your
           Lordships
           ,
           that
           though
           the
           present
           Company
           ,
           consists
           of
           many
           persons
           of
           Figure
           in
           the
           Nation
           ,
           and
           of
           Substance
           ,
           as
           is
           evident
           from
           the
           Proposal
           they
           made
           ,
           of
           raising
           the
           two
           Millions
           ,
           and
           from
           the
           Subscription
           of
           200,000
           l.
           to
           ascertain
           the
           said
           Proposal
           ,
           compleated
           in
           two
           Hours
           ;
           yet
           so
           large
           a
           Body
           as
           theirs
           is
           (
           consisting
           of
           420
           old
           ,
           and
           781
           new
           Adventurers
           )
           besides
           those
           which
           hold
           Stocks
           in
           other
           Mens
           Names
           ,
           which
           make
           near
           double
           the
           number
           ,
           
           Doth
           also
           contain
           very
           many
           People
           ,
           who
           are
           by
           no
           means
           able
           to
           bear
           so
           great
           a
           Loss
           ,
           as
           the
           Consequences
           of
           this
           Act
           must
           unavoidably
           bring
           upon
           them
           .
           The
           Company
           therefore
           humbly
           craves
           leave
           to
           offer
           ,
           that
           there
           are
           among
           them
           some
           Hundreds
           of
           Families
           (
           many
           of
           which
           are
           Widows
           and
           Orphans
           )
           who
           have
           no
           other
           Subsistence
           ,
           but
           their
           Interest
           in
           this
           Stock
           ,
           whose
           utter
           Ruin
           ,
           this
           Bill
           (
           if
           it
           take
           effect
           )
           must
           certainly
           occasion
           .
           But
           't
           is
           more
           especially
           hoped
           ,
           that
           the
           Noble
           Minds
           of
           your
           Lordships
           ,
           will
           be
           struck
           with
           Compassion
           ,
           when
           ,
           in
           your
           Wisdoms
           ,
           you
           consider
           the
           Deplorable
           Condition
           of
           some
           Hundreds
           of
           the
           New
           Adventurers
           ,
           who
           ,
           
           in
           1693
           ,
           did
           Imbark
           their
           whole
           Fortunes
           in
           the
           said
           Stock
           ,
           Subscribing
           thereunto
           large
           Sums
           ,
           upon
           the
           Credit
           of
           the
           King's
           Charter
           ;
           in
           which
           Subscription
           they
           met
           with
           no
           Opposition
           ,
           Check
           ,
           nor
           Discountenance
           ,
           from
           the
           Parliament
           then
           sitting
           .
           And
           have
           farther
           Imbark'd
           in
           the
           said
           Trade
           ,
           
           for
           support
           thereof
           ,
           by
           advancing
           very
           great
           Sums
           of
           Mony
           ,
           the
           loss
           of
           which
           will
           be
           hazarded
           by
           this
           Bill
           ,
           which
           will
           yet
           more
           contribute
           to
           their
           Undoing
           .
        
         
           Since
           the
           new
           Subscription
           ,
           the
           Company
           have
           lost
           twelve
           great
           Ships
           ,
           
           which
           in
           England
           would
           have
           sold
           for
           near
           Fifteen
           Hundred
           Thousand
           Pounds
           ,
           not
           through
           any
           Fault
           of
           theirs
           ,
           but
           by
           the
           Accidents
           and
           Calamities
           of
           the
           War
           ;
           Notwithstanding
           which
           great
           Losses
           ,
           their
           Charters
           ,
           and
           the
           Trade
           from
           thence
           arising
           ,
           have
           been
           so
           far
           Profitable
           to
           the
           Publick
           ,
           that
           they
           have
           still
           carried
           on
           the
           Trade
           ,
           
           during
           a
           long
           War
           ;
           and
           since
           the
           new
           Subscription
           ,
           have
           paid
           in
           Customs
           295,000
           l.
           and
           in
           Taxes
           (
           besides
           Taxes
           for
           the
           Current
           Year
           )
           85,000
           l.
           They
           did
           likewise
           supply
           His
           Majesty
           ,
           in
           Holland
           ,
           with
           6000
           Barrels
           of
           Gun-powder
           ,
           upon
           a
           very
           pressing
           occasion
           .
           And
           they
           subscribed
           at
           a
           time
           of
           great
           Extremity
           80,000
           l.
           to
           the
           Circulating
           of
           
             Exchequer
             Bills
          
           ,
           at
           the
           Instance
           of
           the
           Lords
           of
           the
           Treasury
           ,
           the
           Principal
           Persons
           of
           the
           Company
           ,
           promoting
           the
           said
           Subscription
           very
           much
           among
           the
           other
           Adventurers
           ,
           which
           was
           then
           judg'd
           an
           Important
           Service
           .
        
         
         
           
             May
             it
             please
             Your
             Lordships
          
           :
           It
           appearing
           manifestly
           ,
        
         
           1
           st
           ,
           That
           the
           Company
           have
           a
           Right
           to
           the
           Trade
           to
           India
           ,
           by
           several
           Charters
           ;
           of
           which
           no
           Breach
           has
           been
           assign'd
           .
        
         
           2
           ly
           ,
           That
           their
           last
           Charters
           are
           made
           ,
           pursuant
           to
           several
           Regulations
           ,
           Propos'd
           and
           Resolv'd
           ,
           in
           the
           Honourable
           the
           House
           of
           Commons
           .
        
         
           3
           ly
           ,
           That
           the
           said
           Regulations
           contain
           Provisions
           Advantagious
           to
           the
           Crown
           ,
           and
           Beneficial
           to
           Trade
           in
           General
           ;
           and
           particularly
           to
           the
           Woollen
           Manufactures
           ;
           of
           which
           there
           is
           no
           care
           taken
           in
           the
           Bill
           depending
           .
        
         
           4
           ly
           ,
           That
           the
           Company
           have
           made
           a
           Proposal
           ,
           to
           advance
           the
           two
           Millions
           ,
           intended
           to
           be
           raised
           by
           the
           said
           Bill
           ,
           which
           Proposal
           they
           afterwards
           ascertain'd
           ,
           by
           a
           Subscription
           of
           200,000
           l.
           subject
           to
           Forfeiture
           in
           case
           of
           Failure
           .
        
         
           5
           ly
           ,
           That
           the
           Kingdom
           may
           lose
           very
           considerably
           ,
           (
           besides
           their
           Footing
           and
           Settlements
           in
           those
           Parts
           ;
           which
           will
           be
           an
           irrecoverable
           Loss
           ,
           )
           by
           this
           sudden
           Dissolution
           of
           the
           Charter
           ,
           with
           many
           Rights
           and
           Priviledges
           ,
           which
           the
           present
           Company
           now
           has
           in
           
             India
             ,
             Persia
          
           ,
           and
           other
           Places
           .
        
         
           6
           ly
           ,
           That
           the
           Bill
           makes
           no
           Provision
           for
           Settlement
           of
           a
           Stock
           ,
           to
           carry
           on
           the
           Trade
           ;
           for
           want
           of
           which
           ,
           in
           process
           of
           time
           ,
           it
           may
           be
           lost
           to
           England
           .
        
         
           7
           ly
           ,
           That
           it
           admits
           Foreigners
           into
           the
           Benefit
           and
           Mystery
           of
           the
           Trade
           ,
           which
           may
           produce
           bad
           Effects
           .
        
         
           8
           ly
           ,
           That
           the
           Bill
           does
           not
           seem
           fram'd
           with
           Encouragements
           ,
           sufficient
           to
           bring
           in
           the
           intended
           Subscriptions
           .
        
         
           9
           ly
           ,
           That
           during
           the
           three
           Years
           ,
           in
           which
           the
           Company
           are
           allow'd
           to
           Traffick
           ,
           the
           Trade
           is
           put
           upon
           such
           an
           unequal
           Foot
           ,
           between
           them
           ,
           and
           the
           General
           Society
           erected
           by
           the
           Bill
           ,
           that
           during
           the
           said
           Term
           ,
           the
           Company
           can
           reap
           no
           Advantage
           from
           the
           Trade
           .
        
         
           10
           ly
           ,
           That
           many
           Hundred
           Families
           ,
           have
           their
           whole
           Fortunes
           depending
           in
           the
           Stock
           of
           the
           present
           Company
           ,
           who
           must
           be
           entirely
           ruin'd
           ,
           if
           this
           Bill
           take
           Effect
           .
        
         
           All
           which
           Matters
           being
           duly
           weigh'd
           and
           consider'd
           ,
           't
           is
           humbly
           hoped
           ,
           Your
           Lordships
           will
           find
           it
           reasonable
           to
           reject
           the
           said
           Bill
           .
           
             Signed
             by
             Order
             of
             the
             said
             Governour
             and
             Company
             .
             
               Robert
               Blackborne
            
             ,
             Secretary
             .
          
        
         
         
      
    
     
       
         Notes, typically marginal, from the original text
         
           Notes for div A37551-e10
           
             The
             East-India
             Company
             first
             Incorporated
             in
             the
             43
             Q.
             Eliz.
             
          
           
             For
             15
             Years
             .
          
           
             Her
             reason
             for
             so
             doing
             .
          
           
             And
             in
             the
             7
             Jac.
             1
             forever
             .
          
           
             13
             Car.
             2
             1661
             their
             former
             priviledges
             confirmed
             .
          
           
             With
             a
             Clause
             that
             no
             others
             should
             have
             the
             Liberty
             of
             Trading
             to
             India
             besides
             the
             Company
             .
          
           
             The
             Company
             made
             Lords
             Proprietors
             of
             Bombay
             ,
             20
             Car.
             2.
             
          
           
             Whereupon
             great
             Sums
             have
             been
             expended
             by
             them
             to
             strengthen
             it
             .
          
           
             St.
             Helena
             granted
             as
             their
             perpetual
             propriety
             25
             Car.
             2.
             
          
           
             All
             their
             former
             Priviledges
             confirmed
             by
             Charter
             2
             Jac.
             2.
             
          
           
             The
             Company
             have
             expended
             above
             a
             Million
             on
             the
             Credit
             of
             these
             Charters
             in
             Fortifications
             &c.
             
          
           
             for
             the
             benefit
             of
             their
             Trade
             .
          
           
             they
             have
             a
             Revenue
             of
             44000
             l.
             a
             Year
             .
          
           
             Also
             several
             Forts
             ,
          
           
             and
             Settlements
             .
          
           
             And
             Priviledges
             in
             India
             .
          
           
             Both
             Lords
             and
             Commons
             have
             Voted
             ,
             the
             Trade
             to
             India
             ,
             should
             be
             in
             a
             Joynt-Stock
             exclusive
             .
          
           
             His
             Majesties
             Message
             to
             the
             House
             of
             Commons
             ,
             with
             the
             Judges
             Opinion
             touching
             the
             Companies
             Charter
             .
          
           
             The
             Company
             not
             paying
             their
             Tax
             the
             25th
             .
             March
             ,
             1693
             their
             Charter
             was
             questioned
             .
          
           
             Whereupon
             his
             Majesty
             the
             12th
             of
             May
             ,
             ordered
             a
             new
             Charter
             to
             granted
             .
          
           
             Which
             the
             Interlopers
             opposing
             before
             the
             Queen
             and
             Council
             it
             was
             not
             Seald
             till
             the
             7
             th
             .
             of
             October
             ,
             1693.
             
          
           
             A
             Charter
             of
             Regulations
             granted
             the
             11
             th
             .
             of
             November
             following
             .
          
           
             And
             thereupon
             744000
             l
             Subscribed
             and
             paid
             in
             
               during
               the
               sitting
               of
               the
               Parliament
               .
            
          
           
             No
             Objections
             being
             against
             that
             Charter
             .
          
           
             781
             New
             Adventurers
             came
             in
             on
             the
             Credit
             thereof
             ,
             many
             of
             them
             Widows
             and
             Orphans
             .
          
           
             In
             six
             Months
             time
             the
             Company
             sent
             out
             11
             rich
             Ships
             .
          
           
             And
             150000
             l.
             worth
             Woollen
             Goods
             &c.
             
          
           
             Another
             Charter
             of
             Regulations
             granted
             the
             28
             th
             .
             of
             September
             1694
             
          
           
             Company
             by
             these
             Charters
             bound
             to
             export
             yearly
             100000
             l
             value
             in
             Cloth
             &c.
             to
             the
             great
             benefit
             of
             the
             Nation
             .
          
           
             And
             to
             furnish
             the
             Crown
             with
             5●0
             Tons
             of
             Petre
             at
             ●5
             l.
             a
             Ton
             ,
             in
             Time
             of
             War.
             
          
           
             Tho'
             then
             worth
             above
             70
             l.
             
          
           
             The
             Company
             suffering
             by
             the
             War
             and
             yet
             supporting
             the
             Trade
             ,
             hope
             to
             enjoy
             the
             Profit
             thereof
             in
             Peace
             .
          
           
             Upon
             Intimation
             given
             .
          
           
             They
             offer'd
             a
             Loan
             to
             the
             Government
             of
             700000
             l.
             in
             April
             ,
             1698.
             
          
           
             Upon
             this
             ,
             in
             May
             ,
             came
             the
             Proposal
             of
             2
             Millions
             .
          
           
             whereupon
             the
             10
             th
             .
             of
             June
             ,
          
           
             The
             Company
             offer'd
             to
             raise
             2
             Millions
             .
          
           
             And
             by
             Persons
             of
             known
             Abilitys
             to
             pay
             down
             200000
             l.
             to
             secure
             the
             rest
             as
             by
             their
             subscriptions
             
          
           
             the
             Company
             well
             assured
             they
             could
             comply
             .
          
           
             But
             a
             Bill
             is
             now
             passed
             the
             Commons
             ,
             tending
             to
             deprive
             the
             Company
             of
             their
             44000
             
               l.
               per
               Annum
            
             Revenue
             .
          
           
             also
             of
             their
             several
             Forts
             &c.
             
          
           
             Granting
             to
             others
             the
             Sole
             Trade
             to
             India
             .
          
           
             contrary
             to
             the
             Tenour
             of
             their
             Charters
             ,
             viz.
             
          
           
             Whereof
             no
             forfeiture
             is
             charged
             upon
             them
             .
          
           
             The
             Proviso
             in
             September
             1694
             ,
             no
             way
             affects
             the
             Company
             on
             pretence
             of
             unprofitableness
             .
          
           
             The
             present
             Bill
             and
             the
             Companys
             offer
             proving
             the
             Contrary
             .
          
           
             The
             Companies
             Grant
             as
             is
             conceived
             remaining
             Good
             till
             it
             proves
             unprofitable
             by
             the
             forms
             of
             Law.
             
          
           
             The
             Bill
             now
             depending
             ,
             forbids
             all
             Trade
             to
             the
             East-Indies
             ,
             except
             the
             subscribers
             ,
          
           
             under
             great
             penalties
             ,
          
           
             and
             after
             the
             Companies
             3
             years
             ,
          
           
             makes
             no
             provision
             for
             their
             Revenue
             and
             dead
             stock
             .
          
           
             By
             the
             Companies
             dissolution
             ,
             the
             Kingdom
             will
             be
             greatly
             prejudiced
             .
          
           
             The
             Companies
             Revenue
             likely
             to
             cease
             with
             them
             .
          
           
             This
             Bill
             entitles
             Subscribers
             to
             Trade
             during
             the
             three
             Years
             .
          
           
             Several
             hardships
             the
             Company
             lye
             under
             thereby
             more
             than
             the
             others
             .
          
           
             Many
             hundred
             family's
             will
             be
             ruined
             by
             this
             Bill
             .
          
           
             who
             came
             in
             upon
             the
             Credit
             of
             the
             Kings
             Charter
             .
          
           
             and
             have
             advanced
             more
             Money
             for
             the
             support
             of
             the
             Trade
             .
          
           
             after
             the
             loss
             of
             the
             12
             Ships
             which
             happen'd
             since
             that
             Charter
             .
          
           
             they
             have
             also
             paid
             295000
             l.
             Customs
             .
             above
             85000
             Taxes
             .
             Provided
             for
             the
             King
             6000
             Barrels
             of
             powder
             in
             Holland
             ,
             advanced
             80000
             l.
             to
             circulate
             Exchequer
             Bills
             .