A discourse concerning trade, and that in particular of the East-Indies wherein several weighty propositions are fully discussed, and the state of the East-India Company is faithfully stated.

A DISCOURSE CONCERNING TRADE And that in particular of The East-Indies . Wherein several weighty Propositions are fully discussed , and the State of the East-India Company is faithfully stated .

THe Author craves leave in the first place , to present the Reader with some g●●neral Opinions concerning ●rade , which experience hath recommended to th● approbation of the most Iudicious .

1. That trading Merchants , while they are in the busie and eager prosecu●tion of their particular Trades , although they be very wise and good men , are not al●ways the best Iudges of Trade , as it relates to the profit or power of a Kingdom . Th● reason may be , because their Eyes are so continually fixt , and their Minds intent upo● what makes for their peculiar gain or loss , that they have not leisure to expatiate , or tu●● their thoughts to what is most advantagious to the Kingdom in general . The like ma● be said of all Shop-keepers , and other Trades-men , until they leave off their Trades and by the purchase of Lands , become of the same common Interest with most of thei● Country-men .

2. Upon the same reason , a mixt Assembly of Noble men , Gentle-men and Merchants , are the best Constitution for the making Rules , Orders and By-Laws , for the carrying on any Trade for the publick utility of the Kingdom .

3. That all Trade , domestick or forreign , that doth not in the result , increase the value o● Land , ought to be totally rejected .

4. That all Monopolies are destructive to Trade , and obstruct the increase of the value of our Lands , and that therefore , if there be any thing in any Charter of Incorporate● ●●●chants , that hinders any of their Majesties Subjects from coming into that Trade , 〈◊〉 as good terms as others did , or yet may , it is fit that such bars should be removed .

5. That if all Strangers had free Liberty to enter into any of our Incorporated forreign ●rades , as is practised by the Dutch , it would greatly increase our Trade , and improve 〈◊〉 value of Land.

6. That those narrow Clauses in the Turkey Companies , and other Charters , which limit 〈◊〉 Traders to be Free-men of London , and not to be Shop-keepers , &c. And the practice of 〈◊〉 no Man to be free of the Turk●y Company under 25 l. if he he under 25 years of 〈◊〉 ; or 50 l. if above , are to the prejudice of the Nation in general .

7. The Dutch , Nationally speaking , are the wisest People now extant , for the 〈◊〉 and carrying on their Trades for the publick advantage of their Country .

8. That the dominion of the Sea can never be retained , preserved and maintained , but 〈◊〉 the excess and predominency of forreign Trade .

9. That dom●stick and forreign Trade ( as also Land ) do wax and wain together .

10. That Silver and Gold , coined , or uncoined , tho● they are used for a measure of all ●●her things , are no less a Commodity then Wine , Oyl , Tobacco , Cloth or Stuffs , and may 〈◊〉 many cases be exported as much to National advantage as any other Commodity .

11. That no Nation can be considerable in Trade that prohibits the Exportation of ●ullion .

12. That it is more for the publick advantage to export Gold or Silver , coined than 〈◊〉 ; for by the former we gain the Manufa●ture .

13. That whatever Nation hath the lowest interest , will certainly have their Lands in ●ighest esteem and price : and no Nation shall ever over-match the Dutch in Trade , till they mate them in the rate of Interest Money .

14. That the Dutch gain more by exportation of Bullion and forreign Commodities ●●an by all their own native Productions and Manufactures .

15. That when ever wise and great Nations , having different Interests , and various forms of Government , do yet conspire in the same means to accomplish the same ends , of Profit , Power and Honour , they are to be concluded nearer the right way to those ends , ●hen the wisest and best private men living , who hold contrary Opinions , swayed by personal Profit o● Loss , Pique or Prejudice .

16. That there is just as much need of Companies of Merchants in England as in Holland , and no more . The Dutch have no Companies of Merchants , but those of the East and West-Indies , and those in joynt Stocks , protected and defended by the Laws of the Provinces , which are of the same force as Acts of Parliament with us .

17. That there is a necessity of a joynt Stock in all forreign Trade , where the Trade must be maintained by Force and Fo●●s on the Land , and where the King cannot conveniently maintain an Amity and Correspondence by Ambassadors , and not elsewhere .

To proceed , the Propositions intended to be handled , follow First , That the East-India Trade is the most National of all forreign Trades .

Which is thus proved , ( viz. )

1. WHat the Dutch , French , Danes , Portugals , and which not long since the Swedes , and now the Duke of Brandenburgh , have with so great charge an● expence attempted , and hedged about with Laws and Encouragements , must certainly b● matter of the greatest National Consequence .

2. This Trade imploys more great War-like English Ships from 50 to 70 Guns , the● all the Trades of the World from England besides .

3. This Trade alone furnishes us with Salt-Petre , a most necessary Commodity .

4. Above four fifth Parts of the Commodities imported by this Trade , are again ex●ported , to the vast encrease of Navigation ; by the returns of which , more than treble the Bullion is imported that was first exported to India .

5. If the 〈…〉 the East-Indies were not in English hands , the East-India Commodities would come in from Holland , and that with this di●ference , that we should pay as much for Pepper now sold for 8 d. the pound , as for Nutmegs , Cl●ves , M●●e , Cinnamon ▪ which is from 6 s. to 15 s. per pound , which tho' cheaper at the places of their growth , the Dutch enhaunse by having the sole Trade for them ; this saves the Kingdom in that respect only 50●000 l. per annum .

6. This Trade doth more work upon the Manufactures of our Neighbours , than any other forreign Trade ; and whatever weakens them , enriches and strengthens England ▪ it is reasonably computed , that Italy , France , Holland , Flanders , &c. ( the Staple Countries for Silks and fine Linnens ) by the Importation of East-India Silks and Callicoes , not only into England , but from thence into those Countries , are abated in those fine Manufacture● above a Million of Pounds Sterling per annum .

7. It is thought that above 40000 Families in England are employed in Silk-broa●● weaving , tho' that Trade began here but about the beginning of King Charles the first In a few Years more this Nation may be treble the number in such Manufactures , since 〈◊〉 East-India Company bring R●w Silk cheaper then it can be afforded in Turkey , Fran●● ▪ Spain , or any other place where it is made , and do serve Holland , Flanders , and som● other Markets from England .

8. This Trade pays the King 60000 l. per annum Custom , and carries out yearly 60 o● 70000 l. in Lead , Ti●n , Cloth ▪ Stuffs , &c. of our own Production and Manufacture , which would not be sent at all , if England were deprived of this Trade , because neither Dutch nor French would enure the Indians to our Manufactures .

The Second Proposition , that the Clamours , Aspersions , and Objections made against the present East-India Company , are sinister , selfish , or groundless .

Object . 1. SOme of the Turkey Merchants say , The bringing in of so much Silk , and so cheap , is a publick ●usance ▪ and destroys their Trade , which depends wholly upon the Exportation of Woollen Manufacture , whereas the East-India Company send out little Manufacture , and much Bullion , &c.

Answ. 1. 'T is strange Doctrine to Men skilled in Trade , that the making a Material 〈◊〉 , that is to be manufactured at home , or exported again into foreign Countries , 〈◊〉 be to the publick damage .

2. The Turkey Merchants have Shipt out more Cloth yearly , since the great encrease of 〈◊〉 East-India Trade than before .

3. The Question is not , Which Company sends out most Woollen Manufactures , but which is 〈◊〉 most Profitable Trade to the Nation , and that is before shewn .

4. If the Exportation of Bullion hinders not the Exportation of our Manufactures , as in 〈◊〉 appears : and if for every 10 s. value sent out , 30 s. be brought in Bullion at the long 〈◊〉 , which is evident in the course of the East-India Trade , then the Exportation of Bullion 〈◊〉 a great and real advantage .

5. The Turkey Merchants do send out a great deal of Bullion themselves , which is no 〈◊〉 , but their complaining of others for the same thing is .

6· The truth of the case , at the bottom , is but this ; the Importation of better and ●●eaper raw Silk from India ▪ may touch some Turkey Merchants profit at present , tho' it ●enefits the Kingdom , and ●in●ers not the Exportation of Cloth : What then ? Must one ●rade be interrupted because it works upon another ? At that rate there would be no●●ing but Confusion in a Nation ad infinitum , Our Plantation Sugars have brought down ●●e Lisbon Sugars within memory of m●n , from 8 l. per Centum , to 2 l. 10 s. per Centum , ●nd yet the Exportation of our Woollen Manufactures to Portugal , is now greater then ●ver it was : just as 't is and will prove in the Turkey Trade .

7. If those Turkey Merchants think the East-India Trade so good , why do they not ●ome into it themselves ? The Door is open always to them , and all the King's Subjects .

Object . 2. They say there are not above 80 legitimate Merchants in the East-India Company .

Answ. 1 By Legitimate Merchants they mean such as have served Apprenticeships ; in the ●umber thereof , they reckon short above half .

2. It matters not two Straws to the Kingdom , whether they be legitimate or illegitimate ; ●hey are in the whole 556 , which is mo●e by a great many than the Turkey Merchants , 〈◊〉 more by above half than they would be , if the Trade were not managed in a joynt ●●ock .

Object . 3. They say the Company have half the known World in their Charter , and that 's 〈◊〉 much for any Company , &c.

Answ. 1. They have no more in their Charter than all the East-India Companies in Christendom have in their Charters .

2. The Company is a Company of all , or of so many of the King's Subjects as desired to ●e concerned in that Trade , or yet do , they buying Stock .

Object . But 't is dear buying at 280 l. per Cent.

Answ. 1. 'T is less then the intrinsi●k value , if the Stock were now to be broke up .

2. If it be too dear , any Man may be as justly compell●d to sell his House at the Buyers ●rice , or else be disseized of ●t , as his Stock in the Company .

Object . 4. They say the Charter hath exorbitant and illegal Clauses in it .

Answ. 1. No Charter in Europe hath less of that kind .

2. 'T is absolutely nece●sary , that whoever governs a Trade so remote , and by such a Multitude of Hands as are employed , should have some extraordinary Power committed ●o them .

3. Wh●tever is in the Charter , the Company never did any arbitrary Acts , nor ever seized Shi●s or Goods by vertue of their Charter , tho they have o●ten had cause .

Object . 5. They say the Company have imp●●●d and exacted great Fines , Mulcts and Forfeitures to an immense value .

Answ. What they take in any case , is by submission of the party , by agreement with the Master and Owners in Charter-party , or by Arbitrations , and always in pursuance of legal Obligations , sealed and delivered .

It is highly reasonable , the Company being at above 100000 l. yearly charge in India and England , that whoever participates of the Trade , should proportionably contribute to the Expences that neces●arily attend the preservation of it .

Object . 6. They say , besi●e● Raw Silks , the Company imports wrought Silk , to the prejudice of the Silk Manufacture in England .

Answ. 1. This lies as much and more against all other wrought Silks imported into England from Italy , Holland , &c.

2. The Silks which they commonly bring in , are the main part of them Taffaties , and other plain or striped Silks , such as are not usually made in England , but imported from France , Italy , Holland . So this importation work ▪ upon our Neighbours .

3. A great part of the wrought Silk● imported by the Company , are again Shipt out to France , Holland , &c. to the great advantage of the King and Kingdom .

Object . 7. Some Clothiers complain that the East-India Company hind●rs the vent of Cloth.

Answ. 1. This deserves a thorow inspection : 1. Who they are that complained ? 2. When and how they began to complain ? 3. Why , they complain ? 1st . For the time , when , it was in the year 1674 , or 1675 , Then they had the confidence to tell the Parliament , the Company would spoil the trade of Cloth , and bring the price of Wool to nothing . But in fact , the Company hath now stood five or six Years since that time , and much augmented their Trade for India , but Wool is advanced in price above 50 per centum , and there hath been such a trade for Wooll●n Manufactures , as England never saw in any former age . 2. Who they were that complained ? Not the poor Kentish Clothiers , that have lost their trade ; nor the Suffolk Men , that have lost their Manufacture of Bl●w Cloth , but the Worcester , Glocester , and Somerset-shire men , that do now make and vend above twenty times the Cloth they did before this Company was erected . 3dly . How they began to complain ? Their first Petition was drawn only against the Turkey Company , for making but one Cloth Shiping in a year : But a certain Counsel ( since famous for other matters ) told them , they should draw their Petition against the E●st-India Company likewise , which they did ; whether the Dutch or some of England gave the best Fees is uncertain . 4. Why they complained : That few understood : Their Trade was wonderfully encreased , and the East-India Company had sent out in some one Year above ten times as much Cloth as was ever sent out in the time of open Trade .

Object . 8. They complain th●t the pr●sent Stock is engrossed into a few Hands , some single Adventurers having 16 or 17000 l. principal Stock in their own Names .

Answ. 1. If true , the Complaint of it wou●d ●ound better out of the Mouth of an old Leveller , than a Merchants . None ever pretended to 〈◊〉 , much less to level Personal Estates , which if they could be made even at Noon , world be unequal before Night .

2. The Dutch think whoever 〈◊〉 m●st in their joint Stocks , doth most oblige the Common-wealth , tho' he 〈…〉 , insomuch as one Swasso a Iew had at one time in their East-India Stock above the value of 300000 l. Sterling .

3. The more any Adventurer hath in the Stock , the more he is engaged to study and promote the good of it .

4. Notwithstanding the largeness of any of the Adventurers Stocks , there are yet 556 Adventurers , which is a greater number than are to be found in any Trade that hath not a joynt Stock .

Object . 9. There are many other Ports , and Places within the Limits of the Companies , barter , where English Commodities would vend , which the Company do not Trade unto .

Answ. 1. There can never be any Society , that will more industriously expatiate and 〈◊〉 Trade in those Parts of the World , then this hath done , by all peacable means . 100000 l. ●ill not excuse them for the losses sustained in such attempts .

2. In India , a Factory at Surrat will share in all the Trades of the Red Sea , as well as 〈◊〉 , and other Parts within the Correspondency of that Presidency ; The same may be said of ●antam and many other Places as well as Surrat .

3. In very many Places of India , where the Company do not settle Factories , they carry 〈◊〉 a Trade by Natives .

Object . 10. It is said , if the Company were not in a Ioynt Stock , many more Ships might be ●mployed in India , from one Port to another , in Trading Voyages .

Answ. 1. The Company want neither Stock , nor Skill , or will , to employ as many Ships 〈◊〉 they can gain by , and have almost doubled the quantity of their Stock and Tunnage wit●●n ten Years .

2. The Company have now twenty five Ships and Vessels trading in the East-Indies from Port to Port , besides the eleven great Ships sent out last Year , which are abundantly enough to answer all the Companies occasions of that kind .

Obiect . 11. That since the East-India Company was Incorporated , Co●nage hath abated in England .

Answ. This a meer groundles Chimaera , and will appear so , if the Old Mint-Master , as well 〈◊〉 the new Ones , be examined .

The 3d Proposition , That since the discovery of the East-Indies , the Dominion of the Sea Depends much upon the wain or increase of that Trade , and consequently the Security of the Liberty , Property and Protestant Religion of this Kingdom .

THe first Part of this Proposition is meerly Historical , and the proof of it will require little pains , to all that look beyond the present Age ; while the Spanyards had Portugal , and with it the Trade of India , they were able to invade England , with a Navy , by them called Invincible , and so it was , as to Mans understanding . The Dutch since the Protugals sunk in the Indies , have grown ●o potent , in and by ●hat Trade , that they have contended with us for the Dominion of the Seas , and if through the Folly or Madness of a few unthinking or self interested Men , we should deprive our selves of the East-India Trade , we should certainly save them the experiment of Fighting with us again for it ; they would carry the Dominion of the Sea ●lear , and hold it for ever ; or until their Common-wealth should be destroyed by Land force , or intestine Broils .

If we should throw off the East-India Trade , the Dutch would soon treble their strength and power in ●ndia , and would b●●ome sole Masters of all those rich and necessary Commodities of the East ; and make the European World pay five times more for them , than now they do , which would so vastly encrease their Riches , as to render them irresistible . If they have Trade and Money they will never want Men , Seamen are Inhabitants of the Vniverse , and where ever they are bred , will resort to the best Pay and most constant E●●ployment .

And further all other Forreign Trade in Europe doth greatly depend upon East-India Com●modities , and if we loose the importation of them , we shall soo● abate in all our othe● forreign Trade and Navigation ; and the Dutch will more then proportionably encrease theirs : And the Augmentation of their R●ches would further enable them to overballanc● us , and all others in Trade , as well as in Naval strength .

As to the second part of the Proposition ▪ can any Man that looks abroad into the World doubt of the Truth of that Obser●ation ( viz. ) That Trade never thrives in any Country that is not Protestant . Since Queen Eliza●●th's time our Customs are increased from 14000 l. Per annum , to above 70000 l. Per annum . I● it not evident that the Dutch since their being Protestant , are increased m●r● in Trade and Wealth in one Hundred Years , then the ancient and fortunate Romans did in four Hundred Years , after the Foundation of their flourishing Common-Wealth ? H●ve not the French since they were part Protestants and part Papists increased more in Trade and Shiping in one Hundred Years , th●● they did in five Hundred Years before ? A Naval power never affrights us , Seamen never did nor never will destroy the Liberty o● their own Country ▪ They naturally hate Slavery , because they see so much of the Misery of it in other Countries : All Tyrannies in the World are supported by Land Armies : No Absolute Princes have great Navies or great Trades , very few of them can match that little Town of Hamburgh in Shiping .

Who do we fear may destroy our Liberty , Property and Religion , but the Papists and the French , and so we should have found it ▪ i● God Almighty had not disappointed them . Now , under God's Providence , what can best secure us from them , but our Naval strength , and what doth especially increase , and support that , but our East-India Trade . If this be here proved to the conviction of unbyassed English Men , the consequence in this Proposition is most natural and irrefragable .

The Fourth Proposition , That the Trade of the East-Indies cannot be carried on to National A●vantage , by a regulated Company , or in any other way then by a joynt Stock , which are proved by the following Arguments .

Argu. 1. THe Practise and Experience of all other Nations shews this . If it be objected , This Argument will not ●old universally , for the Portugals have a Trade for East-India , and 〈◊〉 have no joynt Stock . 'T is answered , there is a joynt Stock for this Trade in Portugal , but that is the King's Exch●quer , who reserves to himself all considerable India Commodities , and leaves only to his Subjects those that are tri●i●l : That trade dwindled to nothing , when it came to be confronted and out-done by the more National and better constituted joynt Stocks of England and Holland .

Argu. 2. Our East-India Company have now their Money at 3 per cent Interest : others that trade in an open or regulated Trade , 〈◊〉 value their Money at 6 per cent . Now i● the Company , with their united Stock and Counsels , and Money at ● per cent ▪ have much ado to hold up against the subtil Dutch , what shall poor private M●●ch●●ts of divided , various and contrary Interests do , with their little seperate Stocks , at 6 per cent per annum ?

Arg. 3. In regard that all other Europian Nations do now drive the East-India Trade i● ●oynt Stocks , it seems madness to enter raw and private Persons , against such compacted and united Constitutions of experienced Counsellors , suppo●ted with an inexhaustible Treasure .

Arg. 4. Should the Company be destroyed , and the Trade left open , their Priviledges in India would be lost , which have cost vast sums to maintain and retrive , some whereof are these ( viz. ) The Liberty of Coinage , and their Money p●ssi●g current in all the King of Gulconda● s Country . Freedom of Customs in almost all places , and in some where the Dutch and other Nations pay Custom . At Fort St G●orge , and Bombay , the Company ha●● a right , and d●th impose a Custom upon the Natives , and all other Nations . In the Empire of Persia they are Custom free , and have yearly from the Emp●ror aovbe 3000 l. in lieu of the half Custom of his own Subje●ts , and all others trading thither .

At Bant●m they are at a set rate of 4000 Dollars per annum , for all Customs , tho' trade be never so much increased . They are in most places of India , in effect their own Law-makers , and can Arrest and Impris●n any Natives that deal with them , or owe th●● Money .

All their black Servants , and others employed by them , or tradi●g with them , are free and exempted from the Iurisdiction of the Native , and other Governours .

They are in all places free in their Persons and Goods , from all ●nland Customs and Duties , which are very great upon the Natives .

Arg. 5. This Nation sustained great Losses , Damages and Depredations in the three Years of open trade , so that at length the very private Traders themselves , were the forwardest Petitioners for a return to a joynt Stock .

Arg. 6. There are above 100 Kings and absolute Princes in India , and as many Ports and Places of Trade , which would need forty Ambassadors , and 〈◊〉 must have Instructions , and carry large Presents .

Arg. 7. Letters pass freely to and from Turkey in a short time , and in case of Injuries done , the King's men of War may soon go and revenge them ; but India is at a far greater distance , and no certain return of a Letter to be h●d once in twelve Moneths and it is more difficult to maintain a Correspondence in India , from Port to Port , then between England and Turkey .

Arg. 8. Where-ever the English settle a Factory , they must presently build them large Houses , Ware-hous●s , &c. and take many Servants , &c. If it be said , This may be done by a regulated Company . It is answered , First , how shall they raise a Stock to buy those the Company already have , which , with what else they have there , have cost them above 300000 l. Next , how shall they maintain and defend them ? By Levia●ions upon Goods . What ? before there are any Goods to tax : No , they shall raise a joynt Stock , to make the first pur●hase ▪ and after take only a Tax upon Goods to maintain them . These are absurd , incongru●us and 〈◊〉 practicable Notions . For in a time of War & danger , Men will forbear trading ; so that there will ●e no Goods to tax when there is most need of Money . Whereas the Gove●nours or Committees ▪ 〈◊〉 alwa●s in their Hands a real Fond of above a Million of Money , an● can borrow so much more in India , in a few days , if they want it , their Credit there ▪ being as current 〈◊〉 ready Gol● .

Arg. 9. The East-India 〈◊〉 ( a● have that of Holland ) have power by their Charter to make War upon any Nation in India at d●●●retion : this Power they must have for carrying on of their Trad● . Now to whom shall this Power be delegated in a reg●l●ted Company ? to all English men , or to a single Ambassador , or to many Ambassadors and Consuls ?

The Fifth Proposition , That the East-India Trade more profitable and necessary to the Kingdom of England than to any other Kingdom or Nation in Europe .

1. THis is so , as we are an Island , and have our Security , as well as the increase of o● Riches from our Trade and Strength at Sea.

2. The trade of India is to England not only a great but an unmixt advantage : Wher● as to our Neighbours , they cannot have it without some mixture of loss in other respect● some of them having the production of Silk among themselves , as Italy and France . An● they have the sole Manufacture of plain Silks , such as Tassati●s ▪ Sarc●ne●s . &c. which ar● brought from India cheaper than they can make at home . Holland , Flanders and Franc● in some measure , have the principal Manufactures , in fine Linnens , Cambrick●s , 〈◊〉 and Hollands , which only Callico works upon , to the putting them very much out o● request , even in their own Countries : Whereas Callico doth not much prejudice ou● strong course sorts of Linnen made in England . Neither is our Linnen Manufacture a mat●ter worth the taking notice of ( whatever some men think ) but in Holland , Flanders ▪ France and some parts of Germany , 't is their main concern , being the subsistance of the Maj●rit● of their People , as the Woollen Manufacture is in England .

3. The Dutch have a standing contract with the King of Persia for all his Silk , now in re●gard Bengal Silk can be brought cheaper then that , the Dutch by bringing Silk from Bengal must prejudice that Contract in the price of Silk : Whereas We having no such Contract in Persia , do not work upon our selves , as they of necessity must , and yet they are wiser th●● to slight the Trade of Bengal for that cause .

For a Conclusion , to shew present and future Ages in what a Condition the English East-India Trade stood , when the Company was assaulted by the private designs of particular Men , the following Account of the present posture of their Affairs in 1681 , is added ( viz. ) The last year they sent out ( which are not yet returned ) for the Coast of Cormandel , and the Bay of Bengall , four three Deck Ships , the least whereof was burden 530 Tuns .

For Surrat and the Coast of India , 3 three Deck Ships , the least thereof Burden 450 Tuns .

For Bantam 2 Ships , each 600 Tuns .

For the South Seas , and China 2 Ships , one 430 Tuns , the other 350.

And in all of them the Stock of 479946 l. 15 s. 6 d.

This Year ( 1681 ) they are sending out for the Coast of Cormandel and the Bay of Bengall , 5 three Deck Ships , the least thereof 460. Tuns .

For Surrat and the Coast of India , 3 Ships , the least thereof 460 Tuns .

For Bantam 3 Ships , two of them 360 Tuns a peece , the third 600 Tuns .

And for the South Seas and China one other great Ship.

And in all of them the Stock of above 600000 l.

Note , That the Company employ none but English built Ships , and besides what they sent out last Year , and are sending this , they have alwayes a considerable Stock left in the Country , to make and provide Goods before-hand .

It is believed that the Dutch to have this Company destroyed , would give a Million of ●ou●ds Sterling , and that i● they should give two Millions , they would have too good a Bar●ain of it .

All that is hitherto wrote , is onely an Abstract of a most elaborate and judicious Treatise pub●●shed in the Year 1681 , It is brought into this narrow compass for the better information of English Men , many of whom have not disposition or leisure to peruse long Tracts , especially where they ●steem themselves not concerned . The time when that Treatise was printed and published doth demonstrate , that it was not calculated for the present Conjuncture . The Reader hath here under written , an Abreviation of a Supplement to that Treatise printed and published this present Year 1689 , which will inform him of the present Posture and Circumstances of the East-India Companies Affaires .

About the Year 1681 , the Company had raised the English Navigation and Power in India much beyond what it was in any former Age : But soon after that destructive Trade of the Interlopers beginning , the Dutch took the advantag● of that confusion to surprize Bantam : Which troubles falling together upon the Company , and soon after a general failure of Credit in all publick Funds , caused many Adventurers to sell their Stocks .

Whether under all the afore-said Pressures the Company behaved themselves like true English men and Lovers of their Country ▪ will appear by a Narrative of what they have done since the publishing the Treatise in 1681 , and what now is the present State of the English Interest in India .

The Company have built within th●se seven Years past 16 New great Ships besides many more sma●●er one● now in th●ir 〈◊〉 , These 16 Ships , except one which carries but 30 Guns , may carry 〈…〉 .

All of them ex●ept one , are three D●ck Ships , and are of Burden , from 900 to 1300 Tuns each .

Within the said seven Years ( the Company having lost Banta● ) They have built , fortif●e● , and garrisoned three Forts in several Parts of India for security of the Pepper Trade , wh●ch h●ve and will cost them 400000 l. St●rli●g .

The Company have now at Sea , in India , and coming from thence Ianuary the last 1688 , 89. the following Ships ( viz. ) fifteen Ships consigned to Bombay and the Coast of India , their Cargoes amounting to about 360000 l. Sterling .

Thirteen Ships consigned to Fort St George , &c. on the Coast of Choromandel , and to the Bay of Bengall , their Cargoes amounting to near 570000 l. Sterling .

And seven Ships 〈…〉 , their Cargoes amounting to near 100000 l.

Besides about thirty other armed small Ships and Vessels , constantly remaining in the Country .

The Company have now upon their Hands in England unsold , above the value of 700000 l. in East-India Goods , whereas they do not know of 50000 l. value unsold in any other European Companies hands , except the Dutch Spice .

They have within seven Years so enlarged and 〈◊〉 the Fort of St George , and their City of Madrass , that it is now one of the finest and largest Cities in those parts of the World , containing at least One Hundred Thousand Families of all Nations , all subject to such Laws for Life and Goods , as the Company by vertue of their Charter think ●it to impose upon them .

The Customs and New Imp●st paid the King for two Years , from August 1685 , to August 1687 , amounted to 255326 l. 1● s. 1 d. Since the Wars in India it has been less , but now the Wars are over , the Customs are like to be more yearly then they were in either of those two Years .

The Company have built new Forts in their Island of Bombay , and ordered a dry Dock to be built there , and all other Conveniencies for repairing and fitting the bigest English Ships which was the principal want the Nation under went for some Ages .

And , which is the most considerable National advantage that ever was attempted there the Company have reduced the principal part of their trade of Surrat to their own Island o● Bombay , the Inhabitants whereof from four thousand Families , when the Company first po●●sessed that Island , are encreased to fifty thousand Families , all subject to the Companie● Laws ; and that Island lying upon the North Coast of India near Surrat , the Emporium o● the India Trade to Arabia , Persia , Busserab ▪ and the Red Sea , is of inestimable value to this Kingdom . This Island hath cost the Company in Fortifying , Garrisoning , &c. at times above 500000 l. and never produced any return , nor would have been of use to England , if the Trade had not been brought thither . This transition from Surrat to Bombay could never have been done without a War , to make this War upon so great a Prince as the Mogul , was vulgarly thought a vain or rather distracted attempt in the Company ; yet by God's blessing upon their Arms , that War ( the charge whereof cannot be computed at less then 1000000 l. ) has ended to the eternal honour of our Nation and a Peace concluded upon such honourable Articles , that if a Blanck had been delivered to the Company in England to write down their own Terms , they would not have desired more than is granted by the Articles , the Ratifications whereof from the Mogul himself in the Persian Language , are now brought home .

The Abstracter of the foregoing Treatise , is no East-India Merchant , nor any way concerned with the Company ; Neither is he engaged in this work by any of them , but , being a great lover of his Native Country , he should be much grieved to see England l●sser in Naval power and Trade , then any of our Neighbours ; whether they be our best FRIENDS , or our most dangerous Enemies : And therefore , being wonderfully convinced , upon the reading the aforesaid Treatise , He thought it pitty that every good English Man should not be enlightned in this Foreign Affair , as well as himself , who had formerly entertained as great prejudices against the East-India Company , as most other Men ; and possibly through Ignorance , he may in his discourses , have done them some disservice , which he is sorry for : and therefore , hath contracted the aforesaid Treatise into this narrow compass , that the knowledge of the matters here discussed may spread the fu●ther , to the conviction of , such who are not byassed by private interest , but have been imposed upon by loud Clamour and a bold Misrepresentation of things .

For the New Question ; Whether the Company should exercise Martial Law , in the Government of their Colonies in Indi● ? No man in his Wits will make a doubt thereof 〈◊〉 hath read that faithful , pleasant and profitable History of Purchas his Pilgrims , the first p●rt , printed in the Year 1625. wherein by the course of the History he will find that Martial Law is more necessary in India , than Bread is to the support of Mans Life ; and that 〈◊〉 East-India Company had constantly Commissions from the Crown for that purpose in the blesse● time of Quen Elizabeth , and during all the peaceable Reign of King Iames the first .

June the 25 th 1686.