







 
   
     
       
         The East-India-trade a most profitable trade to the kingdom. And best secured and improved in a company, and a joint-stock. Represented in a letter written upon the occasion of two letters lately published, insinuating the contrary.
         Ferguson, Robert, d. 1714.
      
       
         
           1677
        
      
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             The East-India-trade a most profitable trade to the kingdom. And best secured and improved in a company, and a joint-stock. Represented in a letter written upon the occasion of two letters lately published, insinuating the contrary.
             Ferguson, Robert, d. 1714.
          
           [2], 27, [1] p.
           
             [s.n.],
             London :
             printed in the year, 1677.
          
           
             By Robert Ferguson.
             Errata on verso of final leaf.
             Reproduction of the original in the Harvard University Library.
          
        
      
    
     
       
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         eng
      
       
         
           East India Company -- Early works to 1800.
           Trading companies -- England -- Early works to 1800.
        
      
    
     
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           THE
           East-India-Trade
           A
           MOST
           PROFITABLE
           TRADE
           TO
           THE
           KINGDOM
           .
        
         
           AND
           Best
           Secured
           and
           Improved
           IN
           A
           COMPANY
           ,
           AND
           A
           JOINT-STOCK
           .
        
         
           REPRESENTED
           In
           a
           Letter
           written
           upon
           the
           Occasion
           of
           two
           Letters
           lately
           published
           ,
           insinuating
           the
           Contrary
           .
        
         
           LONDON
           ,
           Printed
           in
           the
           Year
           ,
           1677.
           
        
      
    
     
       
         
         
         
           The
           
           East-India-Trade
           a
           most
           profitable
           Trade
           to
           the
           Kingdom
           ,
           &c.
           
        
         
           
             SIR
             ,
          
        
         
           YOur
           kind
           Reception
           of
           my
           former
           ,
           doth
           encourage
           me
           to
           answer
           your
           desire
           in
           part
           ,
           and
           to
           give
           you
           my
           thoughts
           more
           particularly
           touching
           the
           great
           advantage
           that
           redounds
           to
           the
           Kingdom
           by
           the
           
           East-India-Trade
           ,
           and
           some
           Reasons
           why
           I
           conceive
           the
           said
           Trade
           cannot
           so
           well
           be
           carried
           on
           or
           managed
           for
           the
           publick
           good
           ,
           in
           any
           other
           way
           than
           by
           a
           Company
           in
           a
           joint
           Stock
           .
        
         
           In
           order
           hereunto
           give
           me
           leave
           in
           the
           first
           place
           to
           say
           something
           of
           Trade
           in
           general
           ,
           which
           may
           not
           only
           give
           some
           light
           for
           the
           better
           understanding
           the
           
           India-Trade
           ,
           but
           also
           obviate
           some
           Objections
           that
           are
           frequently
           made
           against
           it
           .
        
         
           Trade
           may
           be
           distinguished
           into
           Foreign
           and
           Domestick
           ;
           the
           latter
           would
           be
           very
           inconsiderable
           ,
           but
           in
           subserviency
           to
           the
           former
           .
           Trade
           confined
           amongst
           our selves
           ,
           procures
           little
           advantage
           to
           the
           Kingdom
           ;
           no
           more
           than
           the
           buying
           and
           selling
           of
           Land
           ,
           one
           hath
           more
           ,
           and
           another
           hath
           less
           ;
           the
           Owners
           are
           changed
           ,
           but
           the
           Land
           is
           still
           the
           same
           .
           It
           is
           Foreign
           Trade
           ,
           that
           is
           the
           great
           Interest
           and
           Concern
           of
           the
           Kingdom
           ;
           without
           Foreign
           Trade
           ,
           all
           or
           the
           most
           part
           of
           those
           Studies
           that
           render
           Persons
           so
           Renowned
           ,
           would
           be
           of
           little
           signification
           to
           the
           Publick
           .
           What
           is
           all
           knowledg
           ,
           if
           it
           be
           not
           improved
           to
           practice
           ,
           but
           empty
           notions
           ?
           If
           the
           People
           of
           this
           Island
           were
           learned
           in
           all
           Languages
           ,
           did
           know
           the
           Scituation
           of
           all
           Places
           and
           Countries
           ,
           and
           the
           nature
           of
           all
           Commodities
           ;
           were
           acquainted
           with
           the
           order
           and
           motion
           of
           all
           the
           Stars
           ,
           knew
           how
           to
           take
           the
           Latitude
           and
           Longitude
           ,
           and
           
           were
           perfectly
           read
           in
           the
           Art
           of
           Navigation
           ,
           to
           what
           purpose
           would
           all
           be
           ,
           if
           there
           were
           no
           Foreign
           Trade
           ?
           We
           should
           have
           no
           Ships
           to
           Navigate
           to
           those
           Countries
           ,
           nor
           occasion
           to
           make
           use
           of
           those
           Languages
           ,
           nor
           any
           advantage
           by
           those
           Commodities
           :
           What
           would
           this
           Island
           be
           ,
           without
           Foreign
           Trade
           ,
           but
           a
           place
           of
           Confinement
           to
           the
           Inhabitants
           ?
           who
           (
           without
           it
           )
           could
           be
           but
           a
           kind
           of
           Hermites
           ,
           as
           being
           separated
           from
           the
           rest
           of
           the
           World.
           It
           's
           Foreign
           Trade
           that
           renders
           us
           Rich
           ,
           Honourable
           and
           Great
           ,
           that
           gives
           us
           a
           name
           and
           esteem
           in
           the
           World
           ,
           that
           makes
           us
           Masters
           of
           the
           Treasures
           of
           other
           Countries
           ,
           and
           begets
           and
           maintains
           our
           Ships
           and
           Seamen
           ,
           the
           Walls
           and
           Bulwarks
           of
           our
           Country
           .
           Were
           it
           not
           for
           Foreign
           Trade
           ,
           what
           would
           become
           of
           the
           Revenue
           of
           Six
           to
           eight
           hundred
           thousand
           pounds
           
             per
             Annum
          
           for
           Customs
           ?
           and
           what
           would
           the
           Rents
           of
           our
           Lands
           he
           ?
           The
           Customs
           would
           totally
           fail
           ,
           and
           our
           Gentlemens
           Rents
           of
           Thousands
           
             per
             Annum
          
           ,
           would
           dwindle
           into
           less
           than
           Hundreds
           .
        
         
           But
           all
           Foreign
           Trade
           is
           not
           alike
           advantageous
           to
           the
           Kingdom
           :
           Certainly
           that
           cannot
           be
           supposed
           ;
           there
           may
           be
           such
           a
           Trade
           to
           some
           places
           under
           such
           Circumstances
           ,
           as
           instead
           of
           bringing
           advantage
           ,
           and
           adding
           to
           the
           Stock
           of
           the
           Kingdom
           ,
           may
           be
           very
           detrimental
           and
           destructive
           ,
           by
           wasting
           and
           consuming
           our
           Stock
           and
           Treasure
           .
           A
           Trade
           that
           takes
           off
           little
           from
           us
           in
           Commodities
           ,
           and
           furnisheth
           us
           with
           little
           or
           no
           Goods
           for
           our
           Foreign
           vent
           in
           other
           places
           ,
           but
           with
           abundance
           of
           either
           unnecessary
           and
           superfluous
           things
           to
           feed
           our
           vain
           humours
           and
           fancies
           ,
           or
           with
           such
           ,
           though
           useful
           ,
           as
           hinder
           the
           consumption
           of
           our
           own
           Manufactures
           ,
           can
           never
           be
           profitable
           but
           destructive
           ;
           and
           such
           a
           Trade
           is
           that
           to
           France
           ,
           as
           it
           lies
           under
           those
           exorbitant
           Impositions
           on
           our
           Manufactures
           ,
           of
           50
           to
           60
           
             per
             Cent
          
           ,
           amounting
           almost
           to
           a
           prohibition
           ;
           whereas
           there
           was
           formerly
           vended
           in
           that
           Kingdom
           annually
           to
           the
           amount
           of
           600
           thousand
           pounds
           in
           English
           Drapery
           ,
           there
           is
           now
           hardly
           vended
           50
           thousand
           pounds
           worth
           ;
           and
           yet
           our
           Receipts
           from
           them
           ,
           in
           Wines
           ,
           Linnens
           ,
           Paper
           ,
           Silks
           ,
           Garments
           ready
           made
           ,
           Beds
           ,
           and
           an
           innumerable
           company
           of
           Toys
           and
           Trinkets
           ,
           is
           greatly
           augmented
           ;
           So
           that
           our
           Receipts
           from
           France
           in
           unnecessary
           and
           superfluous
           things
           ,
           or
           in
           such
           Commodities
           as
           hinder
           the
           use
           of
           our
           own
           Manufactures
           ,
           and
           serve
           not
           to
           supply
           other
           Foreign
           Markets
           ,
           exceeding
           by
           many
           hundred
           thousands
           annually
           what
           that
           Country
           takes
           from
           us
           in
           Commodities
           :
           That
           Trade
           under
           such
           Circumstances
           cannot
           be
           otherwise
           than
           very
           ruinous
           and
           destructive
           .
        
         
         
           Other
           Foreign
           Trades
           that
           are
           profitable
           to
           the
           Kingdom
           ,
           yet
           are
           not
           equally
           so
           ,
           some
           take
           off
           more
           of
           our
           Native
           Commodities
           and
           Manufactures
           ,
           furnish
           us
           with
           more
           useful
           and
           necessary
           Commodities
           at
           cheaper
           rates
           for
           our
           consumption
           ,
           supply
           us
           with
           Materials
           for
           Manufactures
           ,
           or
           with
           Commodities
           to
           be
           transported
           to
           other
           Countries
           ,
           for
           a
           further
           enlargement
           of
           our
           Trade
           ,
           than
           others
           .
           Some
           Trades
           employ
           a
           greater
           number
           of
           English
           Ships
           ,
           occasion
           the
           building
           and
           maintaining
           Ships
           of
           greater
           burden
           and
           force
           ,
           whereby
           an
           addition
           is
           made
           to
           the
           strength
           of
           the
           Kingdom
           ,
           than
           others
           ;
           And
           some
           Trades
           bring
           in
           a
           greater
           Revenue
           to
           his
           Majesty
           ,
           whereby
           the
           publick
           charge
           of
           the
           Kingdom
           is
           supplied
           without
           or
           with
           less
           Taxes
           on
           the
           people
           ,
           than
           others
           .
           Of
           all
           which
           matters
           a
           due
           consideration
           is
           to
           be
           had
           in
           the
           examination
           of
           the
           distinct
           Trades
           ,
           to
           find
           out
           which
           is
           most
           profitable
           and
           beneficial
           to
           the
           Kingdom
           .
        
         
           It
           is
           a
           Maxim
           generally
           received
           and
           approved
           ,
           in
           reference
           to
           Foreign-Trade
           ,
           and
           taken
           as
           a
           Rule
           to
           measure
           any
           Trade
           by
           ,
           Whether
           it
           be
           profitable
           to
           the
           Kingdom
           or
           not
           ,
           That
           where
           the
           Goods
           Exported
           are
           less
           in
           value
           than
           the
           Goods
           imported
           ,
           the
           Kingdom
           loseth
           by
           that
           Trade
           ;
           Because
           what
           falls
           short
           must
           be
           supplied
           by
           money
           :
           And
           on
           the
           other
           hand
           ,
           when
           the
           Exports
           are
           more
           than
           the
           Imports
           ,
           the
           Treasure
           and
           Stock
           of
           the
           Kingdom
           is
           encreased
           by
           such
           a
           Trade
           :
           It
           being
           necessarily
           supposed
           ,
           That
           the
           overplus
           is
           returned
           in
           Bullion
           .
        
         
           This
           Rule
           seems
           to
           be
           taken
           from
           the
           consideration
           of
           the
           whole
           Kingdom
           as
           to
           its
           Trade
           with
           Foreign
           parts
           ,
           under
           the
           notion
           of
           a
           single
           person
           possessing
           and
           managing
           an
           Estate
           or
           Farm.
           If
           he
           do
           not
           raise
           from
           his
           Estate
           or
           Farm
           to
           sell
           for
           a
           greater
           value
           than
           to
           purchase
           what
           he
           does
           and
           must
           necessarily
           buy
           in
           ,
           for
           the
           supply
           of
           his
           Farm
           and
           Houshold
           ,
           he
           cannot
           advance
           thereby
           .
           If
           his
           Receipts
           exceeds
           his
           payments
           ,
           there
           is
           an
           addition
           to
           his
           Stock
           ;
           if
           his
           Payments
           surpass
           his
           Receipts
           ,
           he
           runs
           in
           debt
           ,
           and
           decays
           in
           his
           Estate
           .
           A
           Gentleman
           that
           spends
           every
           year
           more
           than
           his
           Revenue
           or
           Income
           ,
           will
           in
           time
           have
           no
           Revenue
           at
           all
           .
        
         
           This
           notion
           is
           undoubtedly
           very
           good
           ,
           and
           may
           by
           a
           due
           consideration
           of
           it
           under
           several
           and
           various
           circumstances
           ,
           be
           improved
           and
           made
           use
           of
           to
           explain
           the
           matters
           of
           Foreign-Trade
           in
           reference
           to
           the
           Kingdom
           ,
           so
           as
           to
           render
           the
           same
           intelligible
           to
           all
           persons
           ;
           for
           it
           will
           not
           only
           shew
           us
           ,
           That
           we
           decay
           in
           our
           Stock
           ,
           when
           the
           cost
           of
           what
           we
           spend
           and
           consume
           is
           more
           than
           we
           can
           
           purchase
           by
           what
           we
           sell
           of
           our
           own
           product
           and
           manufacture
           ;
           but
           also
           ,
           that
           it
           is
           our
           Interest
           neither
           to
           permit
           idleness
           nor
           profuseness
           ,
           but
           to
           give
           all
           encouragement
           to
           labour
           and
           industry
           ;
           to
           improve
           by
           manufacturing
           what
           we
           have
           of
           our
           own
           growth
           ,
           and
           to
           carry
           the
           Goods
           we
           sell
           ,
           and
           to
           fetch
           the
           Goods
           we
           need
           ,
           to
           ,
           and
           from
           the
           best
           Markets
           by
           our
           own
           Teem
           ,
           
             i.
             e.
          
           in
           our
           own
           Shipping
           ,
           &c.
           
        
         
           Yet
           notwithstanding
           ,
           the
           said
           Rule
           ,
           as
           it
           is
           generally
           taken
           and
           straitned
           ,
           is
           not
           an
           adequate
           Rule
           to
           measure
           the
           whole
           extent
           of
           Foreign-Trade
           by
           :
           for
           it
           supposeth
           only
           a
           Trading
           in
           Commodities
           ,
           and
           makes
           Money
           ,
           
             i.
             e.
          
           Gold
           and
           Silver
           ,
           to
           be
           the
           fixed
           Stock
           and
           Riches
           of
           the
           Kingdom
           ;
           and
           not
           improvable
           in
           the
           Trade
           ,
           but
           encreased
           or
           diminished
           ,
           as
           it
           supplys
           only
           to
           answer
           the
           Balance
           of
           the
           Trade
           of
           Commodities
           .
           Whereas
           in
           truth
           the
           Stock
           and
           Riches
           of
           the
           Kingdom
           ,
           cannot
           properly
           be
           confined
           to
           Money
           ,
           nor
           ought
           Gold
           and
           Silver
           to
           be
           excluded
           from
           being
           Merchandise
           ,
           to
           be
           Traded
           with
           ,
           as
           well
           as
           any
           other
           sort
           of
           Goods
           .
        
         
           It
           is
           true
           ,
           that
           usually
           the
           measure
           of
           Stock
           or
           Riches
           is
           accounted
           by
           Money
           ;
           but
           that
           is
           rather
           in
           imagination
           than
           reality
           :
           A
           man
           is
           said
           to
           be
           worth
           Ten
           thousand
           pounds
           ,
           when
           possibly
           he
           hath
           not
           One
           hundred
           pounds
           in
           ready
           Money
           ;
           but
           his
           Estate
           ,
           if
           he
           be
           a
           Farmer
           ,
           consists
           in
           Land
           ,
           Corn
           ,
           or
           Cartel
           ,
           and
           Husbandry
           Implements
           :
           If
           a
           Merchant
           ,
           in
           Goods
           and
           Merchandise
           at
           home
           ,
           or
           Adventures
           abroad
           ,
           or
           in
           Shipping
           ,
           in
           like
           manner
           the
           Stock
           or
           Riches
           of
           the
           Kingdom
           doth
           not
           only
           consist
           in
           our
           Money
           ,
           but
           also
           in
           our
           Commodities
           and
           Ships
           for
           Trade
           ,
           and
           in
           our
           Ships
           of
           War
           ,
           and
           Magazines
           furnished
           with
           all
           necessary
           Materials
           :
           And
           if
           we
           consider
           the
           very
           notion
           before
           mentioned
           ,
           from
           whence
           the
           Rule
           is
           taken
           ,
           and
           suppose
           the
           person
           possessing
           and
           managing
           the
           Farm
           ,
           to
           have
           attained
           to
           a
           Stock
           of
           Money
           over
           and
           above
           what
           is
           necessary
           for
           the
           carrying
           on
           the
           Concern
           of
           his
           Farm
           ,
           Who
           would
           not
           count
           him
           a
           ridiculous
           fool
           ,
           to
           let
           his
           Money
           lie
           in
           his
           Chest
           idle
           ,
           that
           as
           he
           can
           vend
           more
           Goods
           from
           his
           Farm
           than
           will
           answer
           for
           the
           cost
           of
           what
           he
           needs
           to
           buy
           in
           ,
           he
           may
           add
           farther
           to
           it
           ;
           there
           to
           let
           it
           lie
           buried
           and
           useless
           ,
           whereas
           he
           might
           with
           his
           Money
           have
           bought
           Goods
           at
           one
           Market
           where
           they
           were
           cheap
           ,
           and
           carried
           them
           to
           another
           Market
           ,
           where
           they
           were
           dearer
           ,
           and
           so
           together
           with
           the
           benefit
           of
           the
           Carriage
           ,
           have
           added
           much
           more
           to
           his
           Stock
           .
           Thus
           in
           reference
           to
           the
           Foreign-Trade
           of
           the
           Kingdom
           ;
           if
           Gold
           and
           Silver
           must
           be
           confined
           within
           our
           
           Walls
           ,
           
             i.
             e.
          
           the
           Seas
           that
           environ
           us
           ,
           it
           is
           rendred
           fruitless
           ,
           and
           yields
           no
           encrease
           to
           the
           Kingdom
           's
           Capital
           .
           Suppose
           a
           Foreign-place
           where
           Commodities
           cannot
           be
           purchased
           but
           with
           Money
           or
           Bullion
           ,
           and
           that
           100
           thousand
           pounds
           in
           Bullion
           laid
           out
           there
           ,
           should
           purchase
           such
           quantity
           of
           Goods
           as
           would
           yield
           on
           sale
           in
           some
           other
           Foreign-parts
           200
           ,
           to
           250
           thousand
           pounds
           ,
           to
           be
           returned
           to
           England
           ;
           were
           it
           not
           the
           Kingdoms
           Interest
           to
           embrace
           so
           gainful
           a
           Trade
           ?
           and
           should
           we
           not
           count
           him
           either
           ignorant
           ,
           or
           an
           enemy
           to
           his
           Country
           ,
           that
           did
           oppose
           it
           ?
           The
           Hollanders
           that
           did
           encrease
           to
           so
           great
           wealth
           ,
           glory
           and
           strength
           ,
           before
           this
           last
           War
           ,
           was
           it
           by
           imprisoning
           their
           Gold
           and
           Silver
           ,
           and
           confining
           their
           Foreign
           Trade
           to
           the
           Goods
           of
           their
           own
           Product
           and
           Manufacture
           ?
           No
           such
           matter
           :
           for
           they
           had
           little
           or
           nothing
           of
           their
           own
           Product
           ;
           but
           by
           liberty
           of
           Transporting
           Bullion
           ,
           and
           by
           fetching
           Goods
           and
           Merchandise
           from
           one
           place
           ,
           and
           carrying
           them
           to
           another
           ,
           according
           to
           the
           proper
           Markets
           and
           seasons
           ,
           they
           did
           in
           a
           great
           measure
           obtain
           their
           Riches
           and
           Glory
           .
        
         
           It
           is
           a
           great
           mistake
           ,
           though
           a
           common
           one
           ,
           to
           think
           ,
           that
           it
           is
           the
           plenty
           or
           scarcity
           of
           Money
           that
           is
           the
           cause
           of
           a
           good
           or
           a
           bad
           Trade
           :
           It
           is
           true
           ,
           when
           the
           Trade
           is
           quick
           and
           good
           ,
           Money
           is
           more
           seen
           ,
           and
           changeth
           hands
           ten
           times
           for
           what
           it
           doth
           when
           the
           Trade
           is
           dull
           and
           dead
           ;
           so
           that
           One
           hundred
           pounds
           in
           a
           time
           of
           quick
           Trading
           ,
           makes
           as
           great
           an
           appearance
           as
           One
           thousand
           pounds
           in
           a
           time
           of
           dead
           Trading
           .
           It
           is
           not
           so
           much
           the
           Money
           that
           influenceth
           the
           Trade
           ,
           as
           it
           is
           the
           Trade
           that
           discovers
           the
           Money
           ,
           which
           otherwise
           would
           lie
           hid
           .
           I
           am
           confident
           ,
           there
           never
           was
           more
           Money
           in
           the
           Kingdom
           ,
           though
           by
           reason
           of
           the
           deadness
           of
           Trade
           in
           general
           ,
           and
           paucity
           of
           good
           Security
           ,
           it
           walks
           not
           so
           much
           abroad
           .
        
         
           Having
           said
           thus
           much
           of
           Trade
           in
           general
           ,
           I
           now
           proceed
           particularly
           ,
           in
           answer
           to
           your
           desire
           ,
           to
           shew
           the
           profitableness
           of
           the
           
           India-Trade
           ,
           and
           that
           it
           is
           best
           managed
           in
           the
           way
           of
           a
           Company
           ,
           and
           a
           Joint-stock
           .
        
         
           
           
             I.
             That
             the
             
             East-India-Trade
             is
             a
             most
             (
             if
             not
             the
             most
             )
             profitable
             and
             beneficial
             Trade
             to
             the
             Kingdom
             .
          
           
             THE
             extraordinary
             Endeavours
             of
             most
             of
             the
             European
             Natitions
             to
             compass
             and
             gain
             the
             
             East-India-Trade
             to
             themselves
             ,
             or
             at
             least
             to
             have
             a
             great
             share
             in
             it
             ,
             together
             with
             the
             success
             of
             the
             Dutch
             therein
             ,
             and
             the
             vast
             advantage
             they
             have
             reaped
             from
             thence
             ,
             being
             a
             main
             cause
             of
             that
             Wealth
             and
             Grandeur
             which
             hath
             rendred
             them
             so
             redoubtable
             to
             ,
             and
             envied
             by
             all
             their
             Neighbors
             ,
             may
             give
             an
             undeniable
             testimony
             of
             the
             beneficialness
             of
             this
             Trade
             .
             But
             it
             will
             be
             needless
             to
             insist
             thereon
             ,
             or
             to
             call
             in
             Witnesses
             from
             abroad
             :
             for
             from
             the
             consideration
             of
             the
             Trade
             it self
             ,
             there
             will
             arise
             sufficient
             to
             evidence
             by
             Demonstration
             ,
             that
             it
             is
             so
             ;
             and
             in
             consequence
             ,
             That
             it
             is
             the
             Kingdoms
             Interest
             to
             uphold
             ,
             maintain
             ,
             and
             encourage
             the
             same
             .
          
           
             It
             is
             a
             Trade
          
           
             That
             takes
             off
             a
             considerable
             quantity
             of
             our
             Native
             Commodities
             and
             Manufactures
             ,
             though
             not
             altogether
             so
             much
             as
             some
             other
             Trades
             do
             .
          
           
             That
             supplys
             us
             with
             most
             necessary
             and
             useful
             Commodities
             for
             our
             Consumption
             ,
             at
             the
             cheapest
             rates
             .
          
           
             That
             brings
             us
             some
             Commodities
             for
             further
             Manufacture
             .
          
           
             That
             furnisheth
             us
             with
             large
             quantities
             of
             Goods
             for
             Foreign-Markets
             .
          
           
             That
             gives
             employment
             to
             ,
             and
             so
             maintains
             great
             number
             of
             English
             Shipping
             .
          
           
             That
             occasions
             the
             building
             of
             more
             Ships
             of
             burden
             and
             force
             ,
             fit
             for
             Warlike
             service
             ,
             and
             defence
             of
             the
             Kingdom
             ,
             than
             any
             other
             Trade
             .
          
           
             That
             brings
             in
             a
             considerable
             Revenue
             to
             his
             Majesties
             Exchequer
             by
             Customs
             ,
             and
             the
             greatest
             addition
             to
             the
             Kingdoms
             Stock
             .
          
           
             The
             better
             and
             more
             convincingly
             to
             manifest
             all
             which
             ,
             I
             shall
             with
             all
             candor
             and
             moderation
             ,
             give
             you
             a
             state
             of
             the
             said
             Trade
             ,
             both
             in
             the
             plain
             and
             direct
             course
             of
             it
             ,
             and
             also
             in
             the
             consequences
             depending
             upon
             it
             .
          
           
             
             
               A
               State
               of
               the
               Trade
               of
               India
               in
               Reference
               to
               the
               Kingdoms
               Concern
               :
               First
               in
               the
               plain
               and
               direct
               course
               of
               it
               .
            
             
               THere
               are
               generally
               employed
               in
               this
               Trade
               in
               a
               direct
               course
               to
               ,
               and
               from
               India
               ,
               30
               to
               35
               great
               Ships
               ,
               from
               300
               to
               600
               Tuns
               burden
               ,
               and
               within
               six
               or
               seven
               years
               last
               past
               ,
               there
               hath
               been
               built
               new
               from
               the
               Stocks
               ,
               about
               26
               to
               28
               Ships
               ,
               from
               350
               to
               600
               Tuns
               burden
               ;
               purely
               on
               the
               hopes
               of
               the
               Companies
               Employment
               ,
               and
               the
               Encouragement
               the
               Company
               have
               propounded
               and
               given
               of
               20
               
                 sh.
                 per
              
               Tun
               extraordinary
               Freight
               ,
               the
               two
               first
               Voyages
               ;
               which
               amounts
               from
               700
               to
               1200
               Pounds
               a
               Ship
               ,
               according
               to
               their
               burden
               .
               By
               which
               means
               there
               is
               a
               very
               large
               addition
               of
               strength
               for
               defence
               of
               the
               Kingdom
               ,
               in
               case
               of
               War
               ;
               the
               said
               Ships
               fitted
               in
               a
               Warlike
               Equipage
               ,
               will
               carry
               from
               40
               to
               60
               and
               70
               Guns
               ;
               and
               of
               how
               great
               Concern
               this
               is
               to
               the
               Nation
               ,
               Judicious
               persons
               ,
               that
               consider
               the
               present
               state
               of
               Affairs
               ,
               will
               easily
               judg
               .
            
             
               The
               Exports
               of
               the
               Company
               in
               one
               year
               ,
               as
               it
               was
               in
               the
               end
               of
               Anno
               1674
               ,
               and
               beginning
               of
               Anno
               1675
               ,
               may
               be
               about
               430
               thousand
               pounds
               ,
               whereof
               about
               320
               thousand
               pounds
               in
               Bullion
               ,
               and
               about
               110
               thousand
               pounds
               value
               in
               Cloth
               ,
               and
               other
               Goods
               .
            
             
               The
               Returns
               of
               the
               said
               Adventure
               brought
               home
               for
               England
               by
               the
               Company
               ,
               in
               Callico
               ,
               Pepper
               ,
               Saltpeter
               ,
               Indigo
               ,
               Silk
               ,
               Wrought-Silks
               ,
               and
               some
               Drugs
               ,
               and
               other
               Commodities
               ,
               may
               on
               sale
               in
               England
               produce
               at
               least
               860
               thousand
               pounds
               ,
               and
               oftentimes
               much
               more
               .
            
             
               His
               Majesties
               Customs
               ,
               Freights
               of
               Ships
               ,
               and
               all
               other
               charges
               ,
               of
               Officers
               ,
               Warehouses
               ,
               Lighters
               ,
               Carts
               ,
               Porters
               ,
               and
               such
               like
               ,
               will
               amount
               to
               a
               very
               great
               sum
               ;
               but
               all
               this
               being
               payable
               in
               England
               ,
               it
               is
               altogether
               as
               much
               the
               Kingdoms
               Stock
               ,
               as
               the
               clear
               profit
               added
               to
               the
               Companies
               Stock
               is
               .
            
             
               So
               that
               there
               is
               in
               a
               plain
               and
               direct
               way
               ,
               added
               to
               the
               Stock
               of
               the
               Kingdom
               by
               the
               Companies
               Trade
               in
               one
               year
               ,
               if
               no
               accident
               intervene
               ,
               430
               thousand
               pounds
               .
            
             
               If
               any
               shall
               suggest
               ,
               That
               the
               charges
               in
               India
               ,
               for
               maintenance
               of
               Factors
               ,
               Factories
               ,
               Forts
               ,
               Garrisons
               ,
               Negotiations
               with
               Princes
               ,
               
               and
               other
               charges
               and
               expences
               in
               India
               ,
               which
               may
               amount
               to
               50
               or
               60
               thousand
               pounds
               ,
               is
               so
               much
               paid
               abroad
               ,
               and
               therefore
               ought
               to
               be
               deducted
               ;
               I
               will
               not
               dispute
               it
               ,
               but
               wave
               what
               might
               be
               said
               thereto
               :
               And
               yet
               there
               will
               remain
               a
               clear
               addition
               to
               the
               Stock
               of
               the
               Kingdom
               ,
               by
               the
               joint
               Trade
               of
               the
               Company
               only
               ,
               of
               370
               thousand
               pounds
               .
            
             
               And
               then
               if
               you
               consider
               the
               private
               Trade
               ,
               allowed
               by
               the
               Company
               to
               Owners
               of
               Ships
               ,
               Commanders
               and
               Seamen
               ,
               as
               also
               to
               their
               Factors
               ,
               and
               to
               all
               Adventurers
               ,
               for
               Diamonds
               ,
               Pearls
               ,
               Musk
               ,
               Ambergreece
               ,
               and
               such
               like
               Commodities
               :
               In
               reference
               to
               which
               ,
               there
               may
               be
               Exported
               in
               Goods
               about
               40
               to
               50
               thousand
               pounds
               ,
               and
               in
               Bullion
               about
               80
               to
               100
               thousand
               pounds
               ,
               which
               returned
               into
               England
               may
               yield
               on
               sale
               250
               ,
               to
               300
               thousand
               pounds
               :
               the
               profit
               thereon
               being
               130
               thousand
               pounds
               ,
               is
               so
               much
               further
               addition
               to
               the
               Stock
               of
               the
               Kingdom
               ,
               which
               joyned
               to
               the
               other
               ,
               makes
               it
               500
               thousand
               pound
               added
               to
               the
               Kingdoms
               Stock
               in
               one
               year
               by
               the
               
               India-Trade
               ,
               in
               a
               direct
               course
               ,
               besides
               all
               the
               consequences
               depending
               further
               thereupon
               ;
               which
               come
               next
               to
               be
               considered
               .
            
          
           
             
               Secondly
               ,
               The
               State
               of
               the
               
               India-Trade
               in
               the
               Consequences
               depending
               thereupon
               .
            
             
               I.
               FIrst
               ,
               in
               Reference
               to
               the
               Exports
               .
            
             
               The
               great
               Objection
               against
               this
               Trade
               ,
               because
               of
               the
               Exporting
               so
               great
               a
               quantity
               of
               Gold
               and
               Silver
               out
               of
               the
               Kingdom
               ,
               for
               the
               carrying
               it
               on
               ,
               is
               already
               obviated
               in
               a
               great
               measure
               ,
               in
               what
               hath
               been
               said
               of
               Trade
               in
               general
               ;
               and
               I
               may
               have
               further
               occasion
               to
               speak
               to
               it
               in
               the
               following
               Discourse
               ,
               and
               therefore
               wave
               it
               here
               .
            
             
               The
               Goods
               Transported
               to
               the
               amount
               of
               110
               thousand
               pounds
               ,
               may
               consist
               of
               about
               60
               to
               70
               thousand
               pounds
               in
               English
               Goods
               ,
               and
               the
               rest
               in
               Foreign
               Commodities
               .
            
             
               The
               English
               Goods
               are
               chiefly
               Drapery
               ,
               Tynn
               and
               Lead
               ;
               and
               whereas
               it
               may
               be
               supposed
               ,
               That
               though
               we
               had
               no
               Trade
               for
               India
               ,
               yet
               if
               any
               of
               our
               Neighbours
               did
               Trade
               thither
               ,
               so
               much
               of
               our
               Lead
               might
               be
               taken
               from
               us
               by
               them
               ,
               as
               could
               well
               be
               vended
               in
               India
               .
               I
               shall
               forbear
               to
               say
               any
               thing
               of
               that
               Commodity
               .
               But
               as
               to
               the
               Drapery
               and
               Tynn
               ,
               which
               amounts
               to
               the
               value
               of
               50
               to
               60
               thousand
               pounds
               ;
               in
               case
               the
               English
               had
               no
               Trade
               to
               India
               ,
               
               the
               Kingdom
               would
               lose
               the
               sale
               of
               so
               much
               of
               those
               Commodities
               as
               is
               usually
               sent
               there
               ;
               and
               in
               effect
               ,
               the
               whole
               value
               ,
               being
               50
               thousand
               pounds
               ,
               on
               the
               other
               hand
               by
               this
               Trade
               the
               Kingdom
               gains
               or
               makes
               50
               thousand
               pounds
               of
               that
               which
               otherwise
               would
               yield
               nothing
               .
               No
               other
               Nation
               doth
               carry
               English
               Cloth
               to
               India
               ,
               and
               all
               Foreign
               Markets
               where
               there
               is
               no
               obstruction
               by
               Prohibitions
               ,
               or
               Impositions
               ,
               are
               fully
               supplied
               with
               as
               much
               and
               more
               than
               they
               can
               Vend
               .
               And
               for
               Tynn
               ,
               there
               is
               vast
               quantities
               in
               some
               parts
               of
               India
               ;
               the
               Dutch
               during
               the
               time
               of
               the
               late
               preemption
               of
               Tynn
               ,
               having
               brought
               home
               in
               two
               years
               ,
               4
               or
               500
               Tuns
               .
               And
               it
               might
               be
               more
               advantageous
               to
               the
               English
               Company
               ,
               not
               only
               to
               Transport
               Tynn
               from
               one
               part
               of
               Indio
               to
               another
               ,
               rather
               than
               to
               send
               it
               from
               England
               ;
               but
               also
               to
               bring
               Tynn
               from
               India
               to
               England
               for
               Ballast
               of
               their
               Ships
               that
               come
               with
               Pepper
               from
               Bantam
               ,
               did
               they
               not
               prefer
               the
               Kingdoms
               Interest
               before
               their
               private
               profit
               .
            
             
               II.
               In
               Reference
               to
               the
               Returns
               from
               India
               .
            
             
               There
               may
               be
               spent
               and
               consumed
               ordinarily
               within
               the
               Kingdom
               ,
               according
               to
               the
               nearest
               Calculation
               I
               can
               make
               ,
               to
               the
               value
               of
               200
               to
               230
               ,
               or
               240
               thousand
               pounds
               in
               
               India-Goods
               ;
               viz.
               about
               six
               thousand
               pounds-worth
               of
               Pepper
               ,
               24
               to
               30
               thousand
               pounds-worth
               of
               Saltpeter
               ,
               25
               to
               30
               thousand
               pounds-worth
               of
               Silk
               and
               Silks
               ,
               150
               to
               160
               thousand
               pounds-worth
               of
               Callico's
               ,
               and
               about
               10
               to
               15
               thousand
               pounds-worth
               of
               Indigo
               ,
               and
               other
               Drugs
               .
               All
               the
               rest
               of
               the
               Returns
               above
               mentioned
               ,
               amounting
               in
               value
               to
               630
               thousand
               pounds
               ,
               or
               thereabouts
               ,
               are
               Transported
               to
               Foreign
               Markets
               ,
               as
               also
               most
               part
               of
               the
               private
               Trade
               .
            
             
               The
               Pepper
               I
               reckon
               at
               8
               d.
               the
               pound
               ;
               and
               it
               is
               the
               most
               necessary
               Spice
               ,
               and
               of
               that
               use
               ,
               that
               in
               former
               times
               it
               hath
               sold
               for
               3
               
                 sh.
                 4
                 d.
              
               the
               pound
               :
               It
               is
               not
               to
               be
               had
               but
               from
               India
               ;
               and
               if
               the
               English
               had
               no
               
               East-India-Trade
               ,
               it
               must
               be
               purchased
               from
               the
               Hollander
               ;
               who
               ,
               if
               they
               had
               it
               all
               in
               their
               own
               hands
               ,
               might
               raise
               it
               to
               the
               same
               rate
               they
               do
               their
               other
               Spices
               ,
               whose
               first
               cost
               in
               India
               is
               much
               the
               same
               .
               But
               suppose
               it
               might
               come
               at
               16
               
                 d.
                 per
              
               pound
               ,
               which
               is
               the
               least
               rate
               we
               could
               expect
               it
               at
               ;
               it
               would
               be
               annually
               a
               further
               expence
               and
               charge
               to
               the
               Nation
               of
               at
               least
               six
               thousand
               pounds
               .
            
             
               The
               Saltpeter
               is
               of
               that
               absolute
               necessity
               ,
               that
               without
               it
               ,
               we
               should
               be
               like
               the
               Israelites
               under
               the
               Bondage
               of
               the
               Philistines
               ,
               without
               means
               of
               defending
               our selves
               :
               If
               we
               had
               no
               
               India-Trade
               ,
               possibly
               in
               time
               of
               Peace
               we
               might
               purchase
               it
               ,
               though
               it
               would
               
               cost
               us
               double
               what
               now
               it
               doth
               .
               But
               in
               case
               of
               War
               ,
               where
               could
               we
               have
               sufficient
               ?
               would
               our
               Enemies
               be
               so
               kind
               as
               to
               furnish
               us
               ?
               it
               is
               ill
               trusting
               to
               that
               :
               Would
               our
               Gentlemen
               ,
               Citizens
               ,
               and
               Farmers
               ,
               be
               willing
               to
               have
               their
               Cellars
               and
               Rooms
               dug
               up
               ,
               and
               to
               be
               deprived
               of
               freedom
               in
               their
               own
               houses
               ,
               while
               they
               are
               exposed
               and
               laid
               open
               to
               Saltpeter-men
               ?
               yet
               if
               that
               should
               be
               ,
               besides
               the
               horrible
               inconvenience
               and
               vexation
               thereof
               ,
               it
               would
               be
               far
               short
               of
               supplying
               us
               ,
               considering
               the
               vast
               expence
               in
               Sea-fights
               :
               What
               use
               will
               our
               Ships
               and
               Guns
               be
               off
               ,
               if
               we
               want
               Powder
               ?
            
             
               Silk
               is
               a
               Commodity
               that
               receives
               a
               farther
               Manufacture
               here
               ;
               and
               though
               't
               is
               possible
               we
               may
               be
               supplied
               with
               Silk
               from
               other
               places
               ,
               yet
               not
               at
               so
               cheap
               terms
               ,
               as
               from
               India
               ;
               and
               for
               Taffeta's
               ,
               and
               other
               wrought
               
               India-Silks
               ,
               they
               serve
               instead
               of
               so
               much
               Italian
               and
               
               French-Silks
               .
               Whereof
               otherwise
               ,
               we
               should
               use
               a
               far
               greater
               quantity
               ,
               which
               would
               cost
               the
               Nation
               almost
               treble
               the
               price
               of
               
               India-Silks
               ;
               and
               so
               augment
               the
               Kingdoms
               charge
               and
               expence
               above
               20
               thousand
               pounds
               
                 per
                 annum
              
               .
            
             
               Callico
               is
               a
               most
               useful
               and
               necessary
               Commodity
               ,
               and
               serves
               instead
               of
               the
               like
               quantity
               of
               
                 French
                 ,
                 Dutch
              
               ,
               and
               Flanders
               Linnen
               ,
               which
               would
               cost
               at
               least
               three
               times
               the
               price
               of
               it
               .
               And
               hereby
               the
               Nation
               hath
               a
               very
               great
               benefit
               ,
               not
               only
               as
               it
               saves
               two
               or
               three
               100
               thousand
               pounds
               in
               its
               expence
               ;
               but
               also
               as
               it
               hinders
               so
               far
               the
               enriching
               those
               Neighbour-Nations
               ,
               from
               whose
               greatness
               this
               Kingdom
               might
               fear
               most
               prejudice
               .
               —
               It
               were
               to
               be
               wished
               that
               people
               would
               use
               more
               Woollen
               of
               our
               own
               Manufacture
               ,
               which
               might
               serve
               for
               many
               occasions
               in
               lieu
               of
               Linnen
               ;
               but
               we
               see
               ,
               such
               is
               the
               present
               humour
               ,
               that
               an
               Act
               of
               Parliament
               hath
               prevailed
               nothing
               in
               a
               matter
               of
               this
               kind
               .
               Without
               question
               it
               would
               be
               much
               the
               Interest
               of
               this
               Kingdom
               to
               promote
               and
               encourage
               the
               Manufacture
               of
               Linnen
               in
               Ireland
               ;
               whereby
               it
               might
               not
               only
               enrich
               that
               Kingdom
               ,
               rather
               than
               a
               Foreign
               Countrey
               ;
               but
               also
               by
               diversion
               prevent
               the
               encrease
               of
               the
               Woollen
               Manufacture
               there
               ;
               which
               otherwise
               in
               time
               will
               destroy
               the
               Staple-Manufacture
               of
               Drapery
               in
               England
               ,
               and
               thereby
               exceedingly
               impoverish
               it
               .
               In
               the
               mean
               time
               ,
               it
               is
               certainly
               much
               better
               for
               the
               Kingdom
               to
               expend
               150
               thousand
               pounds
               in
               Callico
               ,
               than
               4
               or
               500
               thousand
               pounds
               in
               
                 French
                 ,
                 Dutch
              
               ,
               and
               Flanders
               Linnen
               :
               And
               if
               the
               linnen
               Manufacture
               were
               setled
               in
               Ireland
               ,
               so
               as
               to
               supply
               this
               Kingdom
               ,
               the
               Callico
               now
               consumed
               
               here
               ,
               might
               be
               transported
               to
               other
               Markets
               abroad
               ,
               and
               so
               bring
               a
               farther
               Addition
               of
               Stock
               to
               the
               Nation
               .
            
             
               Indigo
               is
               a
               necessary
               Commodity
               ,
               used
               for
               the
               Dying
               and
               perfecting
               of
               our
               own
               Manufactures
               .
               And
               for
               the
               other
               Drugs
               and
               Commodities
               brought
               from
               India
               ,
               and
               expended
               in
               England
               ,
               the
               value
               is
               not
               considerable
               .
            
             
               The
               greatest
               part
               of
               all
               the
               Returns
               from
               India
               ,
               are
               Transported
               to
               Foreign-Markets
               ;
               viz.
               to
               
                 France
                 ,
                 Holland
                 ,
                 Spain
                 ,
                 Italy
                 ,
                 Turky
                 ,
                 &c.
              
               whereby
               those
               Trades
               are
               the
               better
               carried
               on
               by
               the
               English
               ,
               to
               a
               further
               advantage
               of
               the
               Kingdom
               .
            
             
               The
               value
               of
               630
               thousand
               pounds
               in
               
               India-Goods
               of
               the
               Companies
               Returns
               ,
               and
               200
               thousand
               pounds-worth
               of
               private
               Traders
               ,
               at
               least
               ,
               Transported
               into
               Foreign-parts
               by
               English
               Merchants
               ,
               cannot
               be
               Calculated
               to
               yield
               less
               than
               ten
               
                 per
                 Cent.
              
               profit
               ,
               one
               with
               the
               other
               ,
               clear
               of
               all
               Charges
               ;
               which
               will
               amount
               to
               83
               thousand
               pounds
               .
               But
               in
               regard
               some
               part
               of
               it
               may
               be
               carried
               out
               by
               Strangers
               ,
               or
               for
               Strangers
               Accounts
               ,
               and
               so
               the
               profit
               arising
               thereby
               may
               remain
               abroad
               ,
               and
               never
               be
               returned
               to
               England
               ;
               I
               shall
               estimate
               the
               profit
               thereof
               but
               at
               60
               thousand
               pounds
               ;
               which
               is
               so
               much
               more
               addition
               to
               the
               Nations
               Stock
               .
               And
               here
               by
               the
               way
               ,
               it
               may
               be
               observed
               ,
               That
               the
               Kingdom
               hath
               a
               greater
               advantage
               ,
               when
               the
               Trade
               is
               driven
               by
               the
               English
               Merchant
               ,
               than
               when
               it
               is
               carried
               on
               by
               Strangers
               ;
               all
               the
               Profits
               arising
               by
               the
               Trade
               of
               the
               one
               ,
               is
               brought
               back
               to
               England
               ;
               whereas
               the
               Profits
               of
               the
               other
               remain
               abroad
               .
               This
               I
               note
               to
               rectifie
               the
               mistake
               of
               some
               that
               say
               ,
               
                 It
                 is
                 all
                 one
                 to
                 the
                 Kingdom
                 ,
                 so
                 the
                 Trade
                 be
                 carried
                 on
                 ,
                 whether
                 it
                 be
                 by
                 the
              
               English
               ,
               
                 or
                 by
                 strangers
              
               ;
               as
               also
               to
               evidence
               ,
               That
               it
               is
               the
               Nations
               Interest
               to
               encourage
               the
               Kings
               Subjects
               in
               their
               Trade
               ,
               preferably
               to
               Strangers
               .
            
             
               The
               said
               goods
               are
               transported
               in
               English-shipping
               ,
               whereby
               an
               Employment
               is
               given
               to
               a
               great
               number
               of
               Ships
               ;
               the
               very
               freight
               of
               which
               being
               about
               5000
               Tuns
               ,
               cannot
               amount
               to
               less
               than
               20
               thousand
               pounds
               ;
               which
               is
               so
               much
               further
               Addition
               to
               the
               Stock
               of
               the
               Kingdom
               .
            
             
               From
               the
               Consideration
               of
               the
               Goods
               returned
               from
               India
               ,
               and
               from
               hence
               transported
               into
               Foreign
               parts
               ,
               will
               arise
               a
               full
               and
               clear
               answer
               to
               the
               Objection
               made
               against
               this
               Trade
               ,
               because
               of
               the
               quantities
               of
               Gold
               and
               Silver
               sent
               out
               for
               the
               carrying
               it
               on
               :
               for
               what
               hath
               been
               noted
               before
               in
               the
               general
               notion
               of
               Trade
               ,
               will
               in
               Fact
               be
               demonstrated
               .
            
             
             
               As
               there
               was
               carried
               out
               from
               England
               to
               India
               ,
               about
               420
               thousand
               pounds
               in
               Bullion
               ;
               so
               there
               is
               transported
               from
               England
               into
               Foreign
               Countreys
               ,
               of
               Goods
               brought
               from
               India
               ,
               the
               value
               of
               830
               thousand
               pounds
               ;
               which
               with
               the
               profit
               arising
               thereupon
               to
               English-men
               ,
               amounts
               to
               890
               thousand
               pounds
               .
               So
               that
               if
               all
               other
               Foreign
               Trades
               did
               export
               sufficient
               in
               Commodities
               of
               the
               Product
               and
               Manufacture
               of
               England
               ,
               to
               purchase
               and
               satisfie
               for
               all
               the
               Commodities
               they
               imported
               ;
               There
               must
               undeniably
               be
               470
               thousand
               pounds
               in
               Bullion
               brought
               in
               ,
               and
               added
               to
               the
               Treasure
               of
               the
               Kingdom
               every
               year
               ,
               by
               the
               India
               Trade
               (
               when
               it
               is
               so
               fully
               carried
               on
               )
               ,
               over
               and
               above
               the
               benefit
               of
               all
               the
               India
               Commodities
               spent
               and
               consumed
               in
               the
               Kingdom
               ,
               and
               of
               the
               building
               ,
               employing
               ,
               and
               maintaining
               so
               great
               a
               number
               of
               Shipping
               .
               And
               thus
               the
               sending
               out
               of
               our
               Treasure
               encreaseth
               it
               ;
               whereas
               to
               coop
               it
               up
               ,
               would
               render
               it
               wholly
               useless
               .
               Had
               we
               all
               the
               Gold
               and
               Silver
               in
               the
               World
               ,
               in
               this
               Island
               ,
               if
               it
               were
               absolutely
               kept
               and
               confined
               within
               the
               Kingdom
               ,
               it
               would
               neither
               greaten
               our
               Trade
               ,
               nor
               render
               us
               more
               formidable
               in
               Strength
               and
               Power
               .
            
             
               If
               it
               be
               alledged
               ,
               That
               such
               an
               Addition
               of
               Treasure
               every
               year
               brought
               into
               the
               Nation
               ,
               would
               certainly
               be
               more
               visible
               ,
               and
               make
               a
               greater
               plenty
               of
               Money
               ;
               whereas
               there
               seems
               to
               be
               rather
               a
               decrease
               ,
               and
               decay
               of
               our
               Treasure
               ,
               and
               a
               scarcity
               of
               Money
               :
               I
               answer
               ,
               Though
               ,
               as
               before
               noted
               ,
               it
               is
               my
               sentiment
               that
               there
               is
               as
               much
               Treasure
               ,
               I
               mean
               Gold
               and
               Silver
               ,
               in
               the
               Kingdom
               ,
               as
               ever
               ;
               yet
               ,
               suppose
               it
               were
               otherwise
               ,
               and
               that
               the
               Nation
               did
               decrease
               in
               their
               Treasure
               ,
               Whence
               doth
               it
               so
               come
               to
               pass
               ?
               not
               from
               the
               East
               -
               India-Trade
               ,
               that
               is
               apparent
               .
               If
               all
               other
               Foreign
               Trades
               were
               upon
               a
               Balance
               ,
               and
               that
               their
               exports
               of
               the
               Product
               and
               Manufacture
               of
               England
               did
               answer
               all
               their
               Imports
               ,
               so
               that
               the
               proceed
               of
               
               India-Goods
               exported
               ,
               might
               return
               in
               Bullion
               ;
               this
               Kingdom
               in
               few
               years
               would
               have
               the
               greatest
               Treasure
               of
               any
               Nation
               in
               Europe
               .
               But
               if
               some
               other
               Foreign
               Trades
               do
               wast
               and
               consume
               our
               Treasure
               ,
               let
               us
               lay
               the
               Saddle
               on
               the
               right
               Horse
               ,
               and
               endeavour
               to
               find
               out
               expedients
               to
               prevent
               it
               .
               In
               the
               mean
               time
               it
               would
               be
               destructive
               to
               stop
               the
               current
               of
               our
               supplies
               ,
               by
               breaking
               in
               upon
               ,
               or
               obstructing
               the
               course
               of
               the
               East
               -
               India-Trade
               ;
               by
               which
               ,
               if
               the
               Kingdom
               had
               not
               been
               supplied
               ,
               all
               its
               Treasure
               might
               ere
               this
               have
               been
               exhausted
               .
            
             
             
               Some
               have
               suggested
               ,
               That
               if
               there
               were
               not
               so
               much
               
               India-Goods
               to
               transport
               ,
               there
               would
               be
               more
               of
               our
               Native
               Commodities
               and
               Manufactures
               transported
               and
               vended
               abroad
               .
               This
               can
               be
               no
               other
               than
               a
               fancy
               and
               imagination
               ;
               and
               will
               appear
               to
               be
               very
               groundless
               ,
               when
               it
               is
               considered
               ,
               That
               there
               are
               other
               Nations
               that
               Trade
               to
               India
               besides
               the
               English
               ;
               and
               if
               the
               English
               did
               not
               supply
               the
               Foreign
               Markets
               with
               
               India-Commodities
               ,
               those
               other
               Nations
               ,
               our
               competitors
               in
               that
               Trade
               ,
               would
               do
               it
               ;
               and
               the
               Kingdom
               would
               lose
               the
               certain
               profit
               it
               now
               hath
               ,
               and
               be
               disappointed
               of
               what
               these
               men
               imagine
               it
               might
               have
               .
               If
               none
               could
               Trade
               to
               India
               but
               the
               English
               ,
               and
               that
               other
               Countreys
               could
               not
               be
               supplied
               with
               Commodities
               ,
               but
               must
               take
               what
               the
               English
               would
               bring
               them
               ;
               then
               indeed
               it
               would
               not
               be
               altogether
               of
               so
               great
               concern
               to
               the
               Kingdom
               ,
               whether
               the
               English
               traded
               there
               or
               no
               ,
               so
               long
               as
               they
               could
               furnish
               such
               Countreys
               with
               English
               Goods
               ,
               and
               make
               them
               content
               to
               take
               them
               or
               none
               .
               But
               such
               a
               time
               is
               not
               like
               to
               be
               ;
               and
               therefore
               it
               cannot
               be
               advisable
               to
               cast
               off
               ,
               or
               discourage
               the
               East
               -
               India-Trade
               on
               such
               groundless
               conceits
               .
            
             
               Thus
               I
               have
               given
               you
               a
               State
               of
               the
               East
               -
               India-Trade
               ,
               whereby
               it
               is
               demonstratively
               evident
               ,
               how
               advantageous
               it
               is
               to
               the
               Kingdom
               in
               all
               the
               respects
               before
               mentioned
               ,
               As
               it
               occasions
               the
               building
               ,
               and
               gives
               Employment
               to
               so
               great
               a
               number
               of
               Ships
               of
               greater
               burden
               and
               strength
               than
               any
               other
               Trade
               ;
               and
               as
               it
               brings
               an
               Addition
               annually
               of
               above
               500
               thousand
               pounds
               to
               the
               Stock
               of
               the
               Kingdom
               in
               its
               direct
               and
               ordinary
               course
               ,
               besides
               80
               thousand
               pounds
               more
               in
               Consequence
               by
               other
               Trades
               ;
               and
               as
               it
               saves
               the
               Kingdom
               ,
               near
               (
               if
               not
               above
               )
               400
               thousand
               pounds
               annually
               ,
               of
               what
               otherwise
               it
               would
               lose
               or
               expend
               .
            
             
               But
               though
               the
               East
               -
               India-Trade
               be
               so
               beneficial
               and
               advantageous
               to
               the
               Kingdom
               in
               it self
               ;
               may
               it
               not
               ,
               say
               some
               ,
               be
               more
               improved
               and
               carried
               on
               with
               greater
               advantage
               to
               the
               publick
               in
               some
               other
               way
               ,
               than
               by
               a
               company
               in
               a
               Joynt-stock
               ?
               I
               proceed
               therefore
               in
               compliance
               with
               your
               desire
               ,
               to
               say
               something
               of
               the
               second
               thing
               proposed
               .
            
          
        
         
           
           
             Secondly
             ,
             That
             the
             East
             -
             India-Trade
             cannot
             so
             well
             be
             secured
             and
             improved
             for
             the
             benefit
             and
             advantage
             of
             the
             Kingdom
             in
             any
             other
             way
             ,
             has
             by
             a
             Company
             in
             a
             Ioynt-stock
             .
          
           
             THE
             practice
             and
             experience
             of
             other
             Nations
             in
             the
             East
             -
             India
             Trade
             ,
             might
             here
             also
             be
             brought
             in
             to
             give
             convincing
             evidence
             on
             the
             behalf
             of
             a
             Joynt-Stock
             :
             No
             other
             Nation
             trading
             otherwise
             ,
             except
             the
             Portugals
             ,
             who
             are
             almost
             beaten
             out
             of
             the
             Trade
             .
             And
             though
             the
             Example
             of
             wise
             and
             politick
             Governments
             in
             their
             Methods
             of
             transacting
             affairs
             ,
             ought
             to
             have
             a
             due
             regard
             ,
             and
             in
             no
             wise
             to
             be
             slighted
             ,
             especially
             when
             accompanied
             with
             success
             in
             a
             long
             tract
             of
             time
             ;
             yet
             in
             the
             present
             case
             ,
             I
             shall
             not
             insist
             thereon
             ,
             but
             confine
             my self
             to
             the
             Nature
             and
             Reason
             of
             the
             thing
             it self
             .
          
           
             None
             that
             are
             acquainted
             with
             the
             Trade
             of
             India
             ,
             but
             must
             know
             ,
             That
             there
             is
             no
             coming
             for
             any
             European
             people
             to
             any
             place
             in
             those
             Countreys
             for
             Trade
             ,
             without
             making
             Presents
             to
             the
             Kings
             ,
             Princes
             ,
             Governors
             ,
             and
             great
             Men
             at
             their
             first
             coming
             ,
             and
             obtaining
             their
             license
             and
             permission
             ;
             and
             that
             there
             is
             a
             necessity
             of
             purchasing
             or
             hiring
             some
             great
             House
             to
             abide
             in
             for
             the
             security
             of
             their
             persons
             and
             goods
             ,
             during
             their
             abode
             ,
             at
             every
             respective
             place
             .
          
           
             The
             East-India
             Company
             have
             been
             at
             vast
             Charges
             and
             Hazards
             ,
             not
             only
             to
             procure
             a
             freedom
             and
             liberty
             of
             Trade
             ,
             with
             many
             great
             Priviledges
             and
             Immunities
             ,
             both
             from
             the
             Great
             Mogul
             ,
             and
             very
             many
             other
             Kings
             ,
             Princes
             and
             Governours
             ,
             but
             likewise
             for
             the
             security
             of
             their
             Factors
             ,
             Estates
             and
             Trade
             ,
             to
             purchase
             ,
             build
             and
             maintain
             great
             Houses
             ,
             and
             Store-houses
             ,
             in
             all
             the
             Places
             of
             their
             Residences
             ,
             which
             are
             called
             Factories
             ;
             and
             in
             some
             Places
             ,
             as
             at
             
               Fort
               St.
               George
               ,
               Bombay
            
             ,
             and
             St.
             Helena
             ,
             to
             make
             considerable
             Fortifications
             ,
             and
             to
             keep
             large
             Garrisons
             .
          
           
             There
             are
             two
             Ways
             or
             Methods
             of
             carrying
             on
             a
             Foreign
             Trade
             ,
             besides
             that
             of
             a
             Company
             ,
             and
             a
             Joint-Stock
             :
             First
             ,
             That
             which
             is
             called
             an
             open
             Trade
             ,
             when
             all
             persons
             are
             left
             free
             to
             Trade
             or
             not
             to
             Trade
             ,
             and
             are
             confined
             to
             no
             particular
             Rules
             
             and
             Methods
             in
             the
             manner
             of
             their
             Trading
             ,
             but
             every
             one
             may
             manage
             his
             matters
             in
             such
             a
             way
             as
             to
             him
             seems
             good
             ;
             and
             such
             is
             the
             Trade
             to
             
               France
               ,
               Spain
               ,
               Portugal
            
             and
             Italy
             .
             The
             other
             is
             called
             a
             Regulated
             Trade
             ,
             where
             there
             is
             a
             Company
             ,
             (
             without
             a
             Joint-Stock
             )
             that
             hath
             power
             to
             make
             some
             general
             Rules
             ,
             as
             to
             the
             publick
             manner
             and
             method
             of
             Trading
             ,
             and
             to
             raise
             Impositions
             on
             the
             Trade
             ,
             for
             desraying
             necessary
             Charges
             in
             Reference
             to
             the
             Security
             thereof
             ;
             but
             yet
             every
             particular
             person
             is
             at
             liberty
             to
             Trade
             or
             not
             to
             Trade
             ,
             and
             to
             manage
             his
             own
             private
             Stock
             and
             Trade
             ,
             without
             being
             limited
             or
             confined
             either
             in
             quantity
             ,
             quality
             ,
             or
             price
             of
             Goods
             ,
             and
             such
             is
             the
             manner
             of
             the
             
             Turky-Company
             .
             Now
             it
             is
             to
             be
             examined
             ,
             Whether
             the
             East-India
             Trade
             can
             be
             so
             well
             secured
             and
             improved
             for
             the
             Publick
             good
             in
             either
             of
             these
             ways
             as
             in
             the
             way
             of
             a
             Company
             and
             a
             Joint-Stock
             .
          
           
             First
             ,
             If
             the
             Trade
             be
             left
             open
             ,
             will
             not
             all
             the
             Priviledges
             and
             Immunities
             purchased
             at
             great
             expence
             by
             the
             
             East-India-Company
             ,
             be
             either
             lost
             ,
             or
             else
             rendred
             void
             and
             insignificant
             ?
             When
             every
             man
             is
             left
             to
             shift
             for
             himself
             ,
             it
             will
             be
             ,
             as
             to
             the
             National
             Interest
             ,
             according
             to
             the
             Proverb
             ,
             
               That
               which
               is
               every
               mans
               business
               ,
               will
               be
               no
               mans
               business
            
             ;
             when
             there
             is
             none
             by
             particular
             obligation
             of
             place
             ,
             duty
             ,
             and
             interest
             ,
             engaged
             to
             mind
             the
             general
             security
             and
             priviledg
             of
             the
             
             English-Trade
             ,
             but
             every
             one
             minds
             only
             his
             own
             private
             concern
             ,
             the
             National
             Honour
             and
             Interest
             will
             decline
             .
             In
             the
             giving
             of
             Presents
             to
             Kings
             and
             Governours
             ,
             to
             obtain
             greater
             Priviledges
             ,
             and
             quicker
             dispatch
             ,
             one
             will
             vye
             upon
             another
             ,
             and
             some
             may
             be
             so
             far
             Transported
             for
             private
             advantage
             ,
             as
             to
             endeavour
             by
             Presents
             to
             obtain
             the
             Intervention
             of
             the
             Powers
             there
             ,
             to
             hinder
             and
             obstruct
             the
             Trade
             of
             their
             fellow-subjects
             ,
             thereby
             to
             advance
             their
             own
             .
             Will
             not
             the
             Kings
             and
             Governours
             of
             those
             Countrys
             ,
             and
             other
             Nations
             our
             Competitors
             in
             the
             
             India-Trade
             ,
             take
             all
             opportunities
             to
             make
             their
             advantages
             ,
             and
             to
             put
             injuries
             and
             hardships
             upon
             the
             English
             ,
             when
             they
             find
             them
             divided
             for
             want
             of
             united
             Counsels
             or
             strength
             to
             right
             themselves
             ?
             Besides
             in
             selling
             and
             buying
             ,
             every
             one
             will
             strive
             to
             supplant
             the
             other
             ,
             and
             so
             give
             occasion
             to
             the
             Indians
             to
             make
             extraordinary
             advantage
             by
             raising
             the
             prices
             of
             Indian
             .
             Commodities
             ,
             and
             falling
             the
             prices
             of
             
             English-Goods
             ;
             of
             all
             which
             there
             hath
             already
             been
             too
             sad
             experience
             in
             three
             or
             four
             years
             of
             open
             Trade
             ,
             from
             1653
             ,
             to
             1657
             ,
             In
             which
             time
             the
             English
             began
             to
             lose
             their
             ancient
             Honour
             
             and
             Esteem
             in
             India
             ,
             and
             were
             much
             slighted
             in
             comparison
             of
             what
             they
             were
             before
             ,
             under
             a
             Company
             ;
             and
             many
             Indignities
             and
             wrongs
             were
             put
             upon
             them
             in
             several
             places
             in
             India
             by
             the
             Kings
             and
             Governours
             ,
             forcing
             the
             English
             to
             sell
             their
             Goods
             ,
             and
             take
             others
             ,
             at
             such
             rates
             &
             prices
             as
             they
             pleased
             :
             And
             after
             contracts
             and
             agreements
             made
             ,
             when
             the
             English
             have
             required
             performance
             ,
             instead
             thereof
             some
             of
             the
             English
             Commanders
             have
             been
             put
             to
             death
             ,
             and
             their
             Ships
             and
             Goods
             seized
             ,
             and
             the
             rest
             of
             their
             Seamen
             scornfully
             sent
             away
             ,
             without
             means
             of
             redress
             .
             Besides
             ,
             during
             that
             time
             ,
             the
             Injuries
             from
             the
             Dutch
             in
             hindring
             the
             Trade
             ,
             and
             seizing
             the
             Ships
             and
             Estates
             of
             the
             English
             ,
             were
             far
             more
             frequent
             ,
             and
             more
             often
             reiterated
             .
             That
             subtil
             People
             well
             knowing
             how
             to
             make
             their
             advantage
             ,
             by
             setting
             one
             English
             mans
             interest
             against
             anothers
             ;
             insomuch
             ,
             that
             for
             15
             or
             16
             English
             Ships
             and
             their
             Cargoes
             ,
             which
             the
             Dutch
             had
             taken
             ,
             (
             if
             I
             mistake
             not
             ,
             )
             they
             only
             gave
             satisfaction
             for
             four
             ,
             and
             by
             means
             of
             the
             English
             men
             Interessed
             in
             those
             four
             ,
             obtained
             a
             National
             discharge
             for
             all
             the
             rest
             .
             A
             certain
             person
             ,
             whom
             I
             forbear
             to
             name
             ,
             that
             was
             much
             concerned
             in
             the
             said
             four
             Ships
             ,
             or
             some
             of
             them
             ,
             hath
             sometime
             made
             his
             brags
             ,
             
               That
               he
               by
               his
               Interest
               and
               prevalency
               with
               the
               late
               Usurper
               ,
               procured
               the
               signing
               that
               discharge
            
             ;
             which
             debarred
             all
             those
             English
             concerned
             in
             the
             other
             twelve
             Ships
             ,
             from
             any
             claim
             or
             demand
             of
             satisfaction
             :
             and
             thereby
             ,
             though
             the
             English
             Nation
             lost
             sixteen
             Ships
             ,
             the
             Dutch
             paid
             but
             for
             four
             .
             The
             private
             persons
             Interessed
             in
             those
             Ships
             ,
             made
             near
             
               Cent.
               per
               Cent.
            
             profit
             ,
             and
             the
             others
             lost
             all
             ,
             both
             Principal
             and
             Profit
             .
          
           
             Also
             in
             those
             three
             or
             four
             years
             of
             open
             Trade
             ,
             the
             Trade
             it self
             was
             rendred
             very
             unprofitable
             ;
             for
             whereas
             ,
             under
             the
             Company
             in
             a
             Joint-Stock
             ,
             the
             Trade
             generally
             produced
             for
             every
             100
             l.
             sent
             out
             and
             invested
             in
             
               India
               ,
               300
               l.
               250
               l.
            
             or
             when
             least
             200
             l.
             here
             in
             England
             ;
             In
             the
             open
             time
             ,
             the
             Trade
             was
             brought
             to
             that
             pass
             ,
             that
             100
             l.
             laid
             out
             in
             India
             ,
             did
             hardly
             yield
             in
             England
             125
             l.
             and
             many
             lost
             of
             their
             principal
             Stocks
             ,
             besides
             about
             two
             years
             Interest
             ,
             and
             the
             risk
             and
             adventure
             of
             the
             Seas
             ;
             and
             this
             not
             by
             reason
             of
             the
             quantity
             of
             Ships
             and
             Goods
             sent
             to
             ,
             and
             returned
             from
             India
             in
             those
             times
             ,
             (
             for
             there
             hath
             been
             twice
             as
             much
             sent
             out
             and
             brought
             home
             by
             the
             Company
             of
             late
             years
             )
             but
             from
             the
             raising
             the
             prices
             of
             
             India-Goods
             in
             the
             Country
             ,
             one
             man
             vying
             upon
             another
             to
             get
             a
             quick
             dispatch
             ;
             and
             as
             they
             did
             endeavour
             to
             supplant
             one
             another
             in
             India
             ,
             so
             also
             in
             their
             Markets
             in
             Europe
             ;
             
             and
             hence
             it
             was
             that
             several
             Ships
             set
             out
             from
             England
             ,
             did
             not
             return
             to
             England
             ,
             but
             were
             directed
             to
             sail
             from
             India
             ,
             directly
             to
             some
             other
             Foreign-parts
             ,
             and
             so
             the
             Kingdom
             was
             deprived
             of
             the
             Customs
             ,
             and
             other
             advantages
             thereby
             .
          
           
             From
             the
             disorders
             and
             ill
             success
             of
             the
             open
             Trade
             ,
             it
             was
             ,
             That
             in
             Anno
             1657
             ,
             all
             persons
             being
             generally
             convinced
             ,
             that
             the
             only
             profitable
             way
             for
             the
             management
             of
             the
             
             East-India-Trade
             ,
             was
             in
             a
             Company
             and
             a
             Joint-Stock
             ,
             did
             consent
             and
             agree
             to
             lay
             aside
             all
             private
             Trade
             ,
             and
             to
             unite
             in
             that
             way
             .
             Accordingly
             Books
             were
             laid
             open
             for
             all
             persons
             in
             the
             Nation
             to
             subscribe
             what
             Stock
             they
             pleased
             to
             adventure
             in
             the
             said
             Trade
             :
             And
             it
             may
             be
             noted
             ,
             that
             such
             was
             the
             disrepute
             and
             inconveniencies
             the
             former
             open
             time
             had
             brought
             the
             Trade
             into
             ,
             as
             (
             together
             with
             some
             injuries
             and
             losses
             sustained
             from
             the
             Dutch
             )
             kept
             the
             value
             of
             the
             Stock
             in
             the
             Worlds
             esteem
             for
             several
             years
             ,
             much
             below
             its
             first
             principle
             .
             In
             or
             about
             Anno
             1665
             ,
             the
             Company
             did
             take
             a
             full
             and
             perfect
             Account
             and
             Balance
             of
             all
             their
             Stock
             ,
             Adventures
             ,
             and
             Debts
             ,
             and
             exposed
             a
             Transcript
             thereof
             to
             publick
             view
             :
             the
             Stock
             then
             was
             apparently
             more
             worth
             than
             130
             
               per
               Cent
            
             ,
             though
             at
             that
             time
             such
             were
             the
             humours
             and
             fancies
             of
             people
             ,
             that
             it
             was
             sold
             by
             private
             persons
             for
             70
             
               per
               Cent
            
             ,
             or
             thereabouts
             ;
             for
             which
             reason
             ,
             though
             the
             Company
             did
             then
             lay
             open
             a
             Book
             of
             subscriptions
             for
             all
             persons
             that
             would
             adventure
             in
             the
             Trade
             ,
             to
             write
             what
             sum
             they
             pleased
             ,
             yet
             every
             one
             did
             decline
             it
             .
             Since
             which
             time
             ,
             though
             many
             Dividends
             have
             been
             made
             amongst
             the
             Adventurers
             ,
             yet
             the
             value
             of
             the
             Stock
             in
             its
             esteem
             in
             the
             World
             hath
             advanced
             to
             245
             
               per
               Cent
            
             ,
             though
             of
             late
             it
             is
             (
             as
             you
             seem
             to
             advise
             me
             )
             gone
             backward
             to
             235
             
               per
               Cent
            
             ,
             notwithstanding
             the
             safe
             arrival
             of
             all
             the
             Companies
             Ships
             this
             year
             .
          
           
             From
             this
             short
             Account
             of
             things
             ,
             I
             leave
             it
             to
             all
             Judicious
             persons
             to
             consider
             ,
             Whether
             it
             be
             not
             inconsistent
             with
             the
             Kingdoms
             Interest
             ,
             and
             whether
             it
             be
             not
             irrational
             and
             unjust
             ,
             to
             lay
             open
             the
             East-India
             Trade
             ?
             Inconsistent
             with
             the
             Kingdoms
             Interest
             ,
             to
             part
             with
             ,
             or
             hazard
             the
             loss
             of
             all
             those
             places
             of
             Strength
             ,
             and
             those
             Priviledges
             the
             
             East-India-Company
             now
             enjoy
             ,
             but
             cannot
             maintain
             in
             an
             open
             Trade
             :
             Irrational
             ,
             to
             make
             a
             second
             trial
             after
             the
             experience
             of
             so
             many
             Inconveniencies
             by
             the
             first
             ;
             and
             unjust
             ,
             to
             deprive
             the
             present
             Subscribers
             in
             the
             East-India
             Stock
             ,
             of
             their
             future
             advantage
             ,
             that
             have
             run
             so
             many
             Hazards
             of
             their
             Stocks
             ,
             and
             been
             at
             such
             vast
             expences
             for
             the
             promoting
             and
             securing
             the
             
             Trade
             so
             advantageous
             to
             the
             Kingdom
             ,
             and
             to
             open
             it
             to
             those
             that
             have-twice
             already
             refused
             to
             adventure
             therein
             .
          
           
             I
             have
             been
             the
             briefer
             on
             this
             first
             Particular
             ,
             because
             I
             find
             very
             few
             so
             hardy
             as
             to
             expose
             their
             own
             Reason
             in
             pleading
             for
             an
             open
             Trade
             .
             The
             
               Gentleman
               Barrister
            
             (
             as
             he
             stiles
             himself
             )
             seem'd
             to
             question
             ,
             Whether
             it
             were
             a
             useful
             Trade
             to
             England
             ?
             but
             if
             it
             were
             ,
             intimates
             it
             should
             be
             a
             
               Regulated
               Trade
            
             ,
             and
             instances
             in
             that
             of
             the
             Turky-Company
             .
             It
             remains
             therefore
             to
             shew
             ,
          
           
             Secondly
             ,
             That
             the
             
             East-India-Trade
             cannot
             so
             well
             be
             secured
             and
             improved
             for
             the
             Kingdoms
             advantage
             under
             a
             Regulation
             ,
             as
             by
             a
             Company
             and
             a
             Joint-Stock
             .
             In
             reference
             to
             the
             Security
             of
             the
             Trade
             ,
             it
             must
             be
             noted
             ,
             That
             in
             the
             East-Indies
             there
             are
             many
             ,
             very
             many
             Kings
             and
             Governments
             ;
             almost
             every
             place
             of
             Trade
             ,
             (
             whereof
             there
             is
             a
             considerable
             number
             )
             is
             under
             a
             distinct
             Rajah
             ,
             or
             King
             ;
             and
             considering
             that
             other
             European
             Nations
             are
             still
             watching
             to
             take
             all
             opportunities
             to
             distil
             into
             the
             minds
             of
             those
             Kings
             ,
             slight
             &
             contemptuous
             thoughts
             of
             ,
             &
             to
             incite
             them
             against
             the
             English
             ,
             either
             to
             exclude
             them
             from
             Trade
             ,
             or
             to
             put
             many
             Hardships
             upon
             them
             ;
             there
             is
             an
             absolute
             necessity
             of
             frequent
             applications
             to
             ,
             and
             Treaties
             with
             those
             Kings
             ,
             and
             that
             the
             English
             appear
             to
             them
             in
             some
             Port
             and
             Grandeur
             ,
             as
             able
             to
             carry
             on
             considerable
             Trade
             with
             them
             ,
             and
             to
             force
             them
             to
             a
             performance
             of
             their
             Treaties
             and
             Agreements
             .
             The
             state
             of
             affairs
             in
             Turky
             is
             far
             otherwise
             ,
             where
             there
             is
             but
             one
             Prince
             ,
             who
             hath
             an
             absolute
             Dominion
             in
             all
             his
             Territories
             ;
             so
             that
             by
             one
             Ambassador
             at
             the
             Emperours
             Court
             ,
             and
             two
             or
             three
             Consuls
             at
             the
             Places
             or
             Residences
             of
             Trade
             (
             whereof
             there
             is
             no
             greater
             number
             )
             to
             hold
             Correspondence
             with
             the
             said
             Ambassador
             ,
             all
             matters
             for
             the
             Security
             and
             good
             of
             the
             Trade
             may
             be
             transacted
             .
          
           
             This
             being
             premised
             ,
             I
             shall
             take
             it
             for
             granted
             ,
             That
             all
             true
             English
             men
             would
             for
             the
             Honour
             and
             Benefit
             of
             their
             Country
             ,
             have
             all
             the
             Places
             of
             Strength
             ,
             and
             all
             Factories
             ,
             Houses
             ,
             and
             Priviledges
             in
             India
             ,
             which
             by
             the
             present
             Joint-Stock
             of
             the
             East
             -
             India-Company
             ,
             have
             been
             obtained
             ,
             purchased
             and
             setled
             at
             the
             expence
             of
             2
             or
             300
             thousand
             pounds
             ;
             and
             whereof
             the
             said
             Joynt-stock
             are
             at
             present
             the
             Owners
             ,
             Possessors
             ,
             and
             Enjoyers
             ,
             to
             be
             upheld
             and
             maintained
             to
             the
             Nation
             ;
             As
             also
             ,
             that
             the
             said
             Places
             of
             Strength
             ,
             Houses
             and
             Priviledges
             ,
             being
             justly
             and
             rightfully
             the
             Property
             of
             the
             persons
             Interessed
             in
             the
             now
             Joynt-stock
             ,
             they
             ought
             not
             to
             be
             devested
             of
             the
             same
             
             without
             giving
             them
             a
             due
             satisfaction
             and
             compensation
             .
             If
             an
             
             English-man
             ought
             not
             to
             have
             any
             of
             his
             Ground
             or
             Estate
             in
             England
             taken
             away
             for
             publick
             use
             ,
             without
             a
             Compensation
             ,
             and
             that
             Parliaments
             have
             been
             always
             very
             careful
             in
             such
             cases
             to
             provide
             accordingly
             ,
             as
             in
             the
             Bill
             for
             building
             the
             City
             ;
             I
             do
             not
             see
             why
             an
             
             English-mans
             propriety
             in
             Forts
             ,
             Houses
             ,
             and
             Estate
             (
             that
             is
             to
             say
             Priviledges
             in
             Foreign-Countreys
             )
             is
             not
             as
             much
             his
             Right
             ,
             as
             if
             it
             were
             within
             the
             Kingdom
             ;
             and
             it
             is
             to
             be
             feared
             ,
             that
             he
             that
             will
             not
             scruple
             to
             devest
             an
             
             English-man
             of
             his
             property
             abroad
             ,
             will
             ,
             if
             opportunity
             offer
             ,
             make
             as
             little
             scruple
             to
             do
             it
             at
             home
             .
             I
             shall
             farther
             take
             it
             for
             granted
             ,
             That
             in
             reference
             to
             the
             present
             State
             of
             the
             Kingdom
             ,
             it
             may
             not
             be
             proper
             to
             desire
             the
             laying
             of
             a
             Tax
             on
             the
             people
             for
             the
             raising
             such
             a
             sum
             to
             make
             that
             Compensation
             :
             I
             must
             therefore
             suppose
             ,
             if
             those
             persons
             that
             press
             for
             a
             change
             and
             alteration
             of
             the
             manner
             of
             the
             East
             -
             India-Trade
             ,
             be
             
             English-men
             and
             Friends
             to
             their
             Countrey
             ;
             their
             intentions
             are
             ,
             That
             the
             succeeding
             Trade
             should
             both
             give
             a
             Compensation
             ,
             and
             maintain
             the
             growing
             Charge
             .
             I
             apprehend
             they
             design
             ,
             that
             the
             now
             Joynt-stock
             should
             cease
             and
             determine
             ,
             as
             to
             any
             farther
             Trade
             ,
             save
             only
             to
             get
             in
             what
             Goods
             and
             Debts
             they
             have
             abroad
             ,
             and
             that
             the
             Trade
             in
             future
             should
             be
             left
             to
             be
             managed
             and
             carried
             on
             by
             particular
             Persons
             ,
             according
             as
             every
             one
             should
             think
             good
             to
             adventure
             ,
             without
             Limitation
             or
             Restriction
             as
             to
             the
             quantity
             ,
             quality
             ,
             and
             prices
             in
             buying
             and
             selling
             of
             Goods
             to
             be
             sent
             out
             ,
             or
             returned
             home
             ;
             yet
             that
             there
             should
             be
             a
             Company
             by
             Law
             established
             and
             impowred
             to
             raise
             impositions
             on
             the
             Trade
             ,
             for
             the
             upholding
             and
             maintaining
             all
             the
             places
             of
             Strength
             ,
             Factories
             and
             Priviledges
             that
             are
             now
             enjoyed
             ,
             for
             the
             mutual
             and
             equal
             benefit
             and
             advantage
             of
             all
             the
             English
             that
             shall
             Trade
             thither
             ;
             and
             ▪
             for
             the
             same
             intent
             to
             entertain
             Negotiations
             ,
             keep
             entercourse
             ,
             and
             make
             Treaties
             with
             the
             Kings
             and
             Governours
             in
             those
             parts
             ,
             as
             formerly
             :
             and
             also
             ,
             that
             out
             of
             such
             Impositions
             ,
             so
             to
             be
             raised
             ,
             a
             proportion
             should
             be
             set
             out
             (
             which
             I
             conceive
             cannot
             be
             less
             than
             Ten
             thousand
             pounds
             
               per
               annum
            
             ,
             to
             be
             divided
             from
             time
             to
             time
             ,
             amongst
             the
             present
             adventurers
             ,
             for
             the
             use
             and
             loan
             of
             the
             said
             Places
             ,
             Factories
             ,
             and
             Priviledges
             ;
             and
             that
             all
             the
             rest
             of
             the
             Money
             raised
             by
             the
             said
             Impositions
             ,
             be
             employed
             for
             support
             of
             the
             charge
             of
             the
             Government
             ,
             and
             defraying
             the
             growing
             charge
             of
             maintaining
             the
             
             said
             places
             of
             Strength
             ,
             Factories
             ,
             and
             Priviledges
             ,
             and
             of
             all
             publick
             Negotiations
             and
             Treaties
             with
             the
             Kings
             of
             those
             Countreys
             as
             aforesaid
             :
             Whereof
             the
             said
             Company
             should
             be
             obliged
             to
             keep
             a
             due
             Account
             :
             And
             also
             that
             the
             said
             Company
             should
             be
             further
             authorised
             and
             impowered
             to
             make
             and
             establish
             from
             time
             to
             time
             such
             general
             Rules
             and
             Orders
             for
             the
             Regulation
             of
             the
             Trade
             ,
             as
             shall
             be
             found
             convenient
             and
             necessary
             for
             the
             Interest
             of
             the
             Kingdom
             ;
             unto
             which
             ,
             all
             persons
             Trading
             into
             those
             parts
             ,
             should
             be
             obliged
             to
             conform
             :
             All
             which
             is
             agreeable
             to
             the
             Instance
             proposed
             of
             the
             
             Turky-Company
             .
          
           
             Now
             let
             it
             be
             considered
             how
             uncertain
             and
             insufficient
             such
             a
             Method
             would
             be
             for
             the
             securing
             the
             Trade
             to
             the
             
             English-Nation
             ,
             in
             comparison
             of
             that
             which
             is
             at
             present
             in
             a
             Company
             ,
             and
             in
             a
             Joynt-stock
             ;
             for
             now
             there
             is
             a
             Stock
             or
             Fond
             of
             at
             least
             a
             Million
             of
             pounds
             Sterling
             alwayes
             engaged
             ,
             and
             in
             the
             Power
             of
             the
             Governor
             ,
             Deputy
             ,
             and
             Committee
             ,
             to
             make
             use
             off
             for
             the
             necessary
             defence
             of
             the
             Trade
             .
             But
             when
             this
             Stock
             is
             divided
             ,
             and
             there
             remains
             nothing
             to
             answer
             the
             charge
             ,
             but
             the
             Impositions
             daily
             raised
             on
             the
             Trade
             ;
             It
             will
             not
             only
             be
             difficult
             to
             know
             what
             proportion
             to
             lay
             ,
             but
             also
             it
             will
             be
             uncertain
             ,
             what
             ever
             sum
             is
             set
             by
             way
             of
             Imposition
             ,
             to
             know
             whether
             it
             will
             be
             sufficient
             to
             answer
             the
             charge
             ;
             for
             it
             depending
             arbitrarily
             on
             the
             pleasure
             of
             particular
             persons
             ,
             whether
             they
             will
             trade
             or
             no
             ,
             and
             for
             what
             value
             ;
             the
             Money
             arising
             by
             such
             Impositions
             ,
             must
             be
             less
             or
             more
             according
             as
             the
             Trade
             is
             .
             There
             will
             be
             a
             certain
             and
             constant
             charge
             ,
             besides
             intervening
             occasions
             that
             may
             encrease
             it
             ;
             and
             an
             uncertain
             and
             inconstant
             Revenue
             to
             answer
             it
             ;
             and
             it
             will
             undoubtedly
             fall
             out
             ,
             That
             when
             the
             charge
             is
             greatest
             ,
             the
             Receipts
             will
             be
             least
             ;
             if
             a
             time
             of
             War
             should
             happen
             (
             and
             such
             a
             time
             we
             may
             fear
             will
             come
             ,
             and
             ought
             to
             provide
             for
             before-hand
             )
             the
             charge
             of
             raising
             and
             maintaining
             a
             greater
             number
             of
             Souldiers
             ,
             and
             supplying
             all
             necessaries
             for
             security
             against
             an
             Enemy
             ,
             must
             be
             much
             augmented
             .
             In
             the
             last
             
             Dutch-War
             the
             Company
             at
             one
             time
             were
             necessitated
             to
             raise
             6000
             Soldiers
             for
             the
             security
             and
             defence
             of
             Bombay
             against
             the
             Dutch
             ;
             and
             yet
             in
             such
             a
             time
             there
             will
             be
             little
             or
             no
             Trade
             ,
             and
             so
             consequently
             little
             will
             be
             raised
             by
             the
             Impositions
             :
             Every
             man
             will
             pull
             his
             neck
             out
             of
             the
             Collar
             ,
             and
             when
             hazards
             are
             great
             ,
             few
             will
             adventure
             .
             If
             the
             spring
             from
             whence
             the
             supplies
             of
             Money
             should
             come
             ,
             be
             dried
             ,
             what
             can
             be
             expected
             ?
             
             
               Point
               d'argent
               point
               de
               Suisse
            
             ,
             without
             Money
             no
             Souldiers
             can
             be
             had
             ;
             and
             so
             it
             will
             necessarily
             follow
             ,
             that
             all
             must
             be
             lost
             ,
             and
             fall
             into
             our
             Enemies
             hands
             ;
             which
             ,
             how
             dishonourable
             ,
             as
             well
             as
             how
             prejudicial
             to
             the
             Kingdom
             ,
             that
             would
             be
             ,
             let
             all
             men
             judg
             .
             Could
             we
             suppose
             (
             which
             yet
             can
             hardly
             be
             supposed
             )
             that
             in
             such
             an
             Emergence
             the
             Kingdom
             should
             be
             taxed
             extraordinarily
             to
             raise
             a
             supply
             particularly
             for
             this
             service
             ?
             Would
             it
             not
             be
             very
             hard
             upon
             the
             people
             ,
             when
             they
             had
             other
             pressures
             upon
             them
             ,
             to
             pay
             it
             ?
             and
             yet
             without
             supplies
             ,
             all
             our
             Trade
             to
             India
             ,
             and
             all
             our
             Interest
             there
             ,
             would
             be
             lost
             ;
             and
             how
             great
             a
             loss
             and
             weakening
             that
             would
             be
             to
             the
             Kingdom
             ,
             may
             be
             judged
             by
             what
             hath
             been
             before
             mentioned
             of
             the
             advantages
             and
             benefits
             arising
             to
             the
             Kingdom
             from
             the
             
             East-India-Trade
             .
          
           
             But
             suppose
             some
             expedient
             could
             be
             found
             for
             security
             of
             the
             Trade
             of
             the
             English
             to
             India
             ,
             and
             of
             their
             Interest
             there
             ,
             in
             as
             certain
             a
             way
             as
             it
             is
             now
             by
             a
             Company
             in
             a
             Joynt-stock
             ;
             which
             (
             pardon
             me
             ,
             Sir
             ,
             if
             I
             say
             )
             I
             believe
             is
             impossible
             without
             a
             publick
             charge
             on
             the
             Kingdom
             .
             Yet
             in
             the
             next
             place
             it
             is
             to
             be
             considered
             ,
             whether
             in
             probability
             the
             Trade
             may
             be
             as
             much
             or
             more
             improved
             for
             the
             Publick
             and
             National
             benefit
             under
             a
             Regulation
             ,
             than
             by
             a
             Company
             in
             a
             Joynt-stock
             .
          
           
             The
             Gentleman
             Barrister
             infinuates
             in
             the
             close
             of
             his
             late
             Letter
             ,
             
               That
               the
            
             East-India
             
               -
               Trade
               might
               be
               so
               managed
               under
               a
               Regulation
               ,
               that
               five
               times
               the
               Trade
               might
               be
               gained
               ,
               and
               the
               price
               of
               our
               own
               Manufactures
               of
               Cloth
               ,
               and
               others
               advanced
               by
               the
               multitude
               and
               freedom
               of
               buyers
               ;
               and
               the
               price
               of
               goods
               imported
               ,
               much
               lessened
               to
               the
            
             English
             ,
             
               and
               much
               more
               Trade
               with
            
             India
             
               -
               Commodities
               gained
               to
               other
               parts
               of
               the
               World.
            
             But
             by
             the
             Gentlemans
             favour
             ,
             I
             must
             crave
             leave
             to
             be
             of
             a
             contrary
             opinion
             .
          
           
             In
             the
             first
             place
             ,
             I
             cannot
             comprehend
             how
             it
             is
             probable
             ,
             that
             particular
             and
             private
             persons
             (
             for
             the
             Trade
             will
             be
             carried
             on
             only
             by
             such
             ,
             under
             a
             Regulation
             )
             should
             gain
             so
             great
             a
             Trade
             ,
             much
             less
             
               more
               ,
               and
               five
               times
               more
               ,
            
             than
             a
             Company
             in
             a
             Joynt-stock
             .
             The
             Trades
             that
             are
             to
             be
             gained
             ,
             whereby
             to
             render
             the
             East
             
               -
               India
            
             .
             Trade
             yet
             more
             advantageous
             to
             the
             Kingdom
             in
             some
             respects
             ,
             than
             at
             present
             it
             is
             ,
             are
             chiefly
             the
             Trades
             to
             China
             and
             Iapan
             ;
             at
             which
             places
             were
             our
             Trade
             once
             well
             setled
             ,
             in
             all
             likelyhood
             more
             considerable
             quantities
             of
             our
             Woollen-Manufactures
             might
             be
             there
             vended
             ,
             and
             from
             thence
             in
             
             return
             thereof
             ,
             both
             Gold
             ,
             Silver
             ,
             and
             Copper
             might
             be
             brought
             to
             supply
             at
             least
             (
             in
             a
             great
             measure
             )
             the
             Trade
             in
             other
             parts
             of
             India
             ;
             without
             carrying
             out
             so
             much
             from
             Europe
             :
             But
             these
             Trades
             are
             not
             so
             easily
             gained
             as
             some
             may
             fancy
             ;
             great
             hazards
             of
             considerable
             Stocks
             must
             be
             run
             ,
             and
             large
             disbursements
             in
             Expences
             made
             in
             order
             thereto
             ;
             one
             design
             laid
             and
             put
             in
             practice
             to
             accomplish
             it
             ,
             after
             such
             hazards
             and
             disbursements
             ,
             may
             prove
             ineffectual
             ,
             and
             the
             labour
             and
             charge
             all
             lost
             .
             Another
             way
             and
             method
             must
             be
             essayed
             ;
             this
             cannot
             be
             expected
             or
             hoped
             for
             from
             particular
             persons
             ;
             their
             Capitals
             cannot
             bear
             such
             expences
             ,
             nor
             will
             they
             subject
             themselves
             to
             such
             hazards
             which
             might
             ruine
             them
             in
             their
             Estates
             .
             If
             it
             could
             be
             supposed
             that
             some
             few
             should
             adventure
             to
             make
             an
             essay
             ,
             we
             could
             not
             imagine
             that
             it
             should
             be
             in
             a
             national
             way
             ;
             I
             mean
             in
             such
             a
             manner
             as
             might
             represent
             the
             
             English-Nation
             considerable
             to
             the
             Princes
             of
             those
             Countreys
             ,
             and
             so
             procure
             from
             them
             a
             settlement
             for
             the
             Trade
             of
             the
             English
             in
             their
             Dominions
             ,
             and
             one
             disappointment
             would
             discourage
             private
             persons
             from
             any
             future
             attempt
             .
             The
             present
             East
             
               -
               India
            
             Company
             having
             so
             great
             a
             Joynt-stock
             to
             bear
             them
             out
             ,
             have
             made
             often
             Trials
             to
             gain
             these
             Trades
             .
             As
             to
             the
             Trade
             of
             China
             ,
             after
             many
             attempts
             ,
             hazards
             and
             expences
             ,
             they
             are
             in
             some
             good
             hope
             to
             succeed
             ;
             and
             as
             to
             that
             of
             Iapan
             ,
             though
             they
             have
             met
             with
             very
             great
             difficulties
             and
             disappointments
             in
             the
             attempts
             they
             have
             made
             ,
             one
             undertaking
             about
             three
             years
             since
             for
             the
             gaining
             of
             that
             Trade
             ,
             though
             designed
             with
             all
             the
             care
             and
             circumspection
             possible
             ,
             proved
             ineffectual
             ,
             to
             the
             Companies
             loss
             of
             at
             least
             50
             thousand
             pounds
             ;
             which
             ,
             though
             a
             very
             great
             sum
             ,
             was
             not
             ruinous
             to
             any
             ,
             because
             of
             the
             great
             number
             of
             persons
             that
             bear
             it
             ,
             and
             the
             largeness
             of
             the
             Fond
             out
             of
             which
             it
             is
             supplied
             :
             Such
             a
             loss
             would
             have
             undone
             private
             persons
             ,
             and
             have
             rendred
             them
             incapable
             of
             any
             future
             attempt
             .
             But
             with
             a
             Company
             in
             a
             Joynt-stock
             it
             is
             otherwise
             ,
             they
             are
             yet
             prosecuting
             the
             design
             ,
             and
             contriving
             and
             forming
             new
             Methods
             to
             bring
             it
             about
             ;
             and
             it
             is
             probable
             that
             by
             unwearied
             endeavours
             with
             great
             hazards
             and
             charge
             ,
             they
             may
             in
             process
             of
             time
             accomplish
             it
             .
             But
             without
             a
             Company
             in
             a
             Joynt-stock
             ,
             we
             may
             bid
             adieu
             to
             all
             hopes
             of
             ever
             obtaining
             a
             settlement
             of
             Trade
             in
             China
             and
             Iapan
             for
             the
             
             English-Nation
             .
          
           
             In
             the
             next
             place
             ,
             That
             is
             to
             be
             examined
             and
             enquired
             into
             ,
             which
             our
             Barrister
             particularly
             suggests
             ,
             
               viz.
               That
               such
               a
               Regulation
               
               would
               advance
               the
               price
               of
               our
               own
               Manufactures
               of
               Cloth
               and
               others
               ,
               by
               the
               multitude
               and
               freedom
               of
               buyers
               ,
               and
               much
               lessen
               the
               price
               of
               Goods
               Imported
               to
               the
               English
               ,
            
             &c.
             
             If
             I
             do
             not
             mistake
             ,
             that
             which
             he
             here
             intended
             is
             ,
             That
             all
             persons
             being
             at
             liberty
             to
             Trade
             for
             India
             under
             a
             Regulated
             Company
             ,
             there
             would
             be
             more
             buyers
             of
             Cloth
             ,
             and
             other
             Goods
             in
             England
             to
             send
             to
             India
             ,
             and
             so
             the
             Prices
             would
             be
             raised
             here
             by
             the
             multiplicity
             of
             Buyers
             ;
             and
             on
             the
             other
             hand
             ,
             the
             Prices
             of
             
             India-Goods
             would
             fall
             ,
             and
             be
             lessened
             in
             England
             for
             the
             same
             reason
             ;
             viz.
             because
             of
             the
             multiplicity
             of
             Sellers
             .
             From
             hence
             it
             is
             easie
             to
             collect
             ,
             that
             the
             person
             from
             whom
             our
             Lawyer
             took
             his
             Information
             touching
             Trade
             ,
             was
             no
             Merchant
             ,
             but
             some
             Clothier
             or
             Shop-keeper
             ,
             that
             had
             very
             little
             knowledg
             or
             understanding
             of
             the
             Kingdoms
             Interest
             in
             Trade
             ,
             and
             took
             his
             measures
             from
             some
             private
             and
             narrow
             concern
             :
             for
             he
             looks
             no
             further
             than
             the
             buying
             and
             selling
             in
             England
             .
             He
             would
             have
             the
             English
             Merchant
             to
             buy
             dear
             ,
             and
             sell
             cheap
             ;
             to
             buy
             Cloth
             dear
             of
             the
             Clothier
             ,
             and
             sell
             Callico
             cheap
             to
             the
             Linnen-Draper
             ;
             and
             he
             desires
             a
             freedom
             of
             Trade
             ,
             that
             the
             multiplicity
             of
             Buyers
             for
             the
             one
             ,
             and
             of
             Sellers
             for
             the
             other
             ,
             might
             effect
             it
             ;
             and
             thereby
             (
             as
             he
             would
             have
             us
             believe
             )
             the
             Kingdom
             would
             be
             enriched
             ;
             Whereas
             ,
             upon
             a
             due
             and
             serious
             Examination
             ,
             it
             will
             he
             found
             ,
             according
             to
             the
             Maxims
             of
             Trade
             ,
             and
             dictates
             of
             Reason
             ,
             to
             be
             quite
             otherwise
             .
             Who
             is
             there
             that
             hath
             in
             any
             competent
             measure
             studied
             and
             considered
             Trade
             ,
             in
             reference
             to
             the
             Kingdoms
             Interest
             ,
             but
             knows
             ,
             that
             all
             buying
             and
             selling
             within
             the
             Kingdom
             from
             one
             
             English-man
             to
             another
             ,
             is
             but
             a
             changing
             of
             hands
             ,
             and
             doth
             neither
             add
             to
             ,
             nor
             diminish
             the
             Stock
             or
             Riches
             of
             the
             Nation
             ;
             it
             must
             be
             the
             dear
             selling
             ,
             or
             rather
             the
             selling
             of
             great
             quantities
             of
             our
             native
             Commodities
             and
             Manufactures
             in
             Foreign-parts
             ,
             and
             the
             cheap
             purchasing
             by
             the
             English
             of
             Commodities
             in
             Foreign-Countries
             ,
             whereby
             the
             Kingdom
             is
             enriched
             .
             And
             how
             inconsistent
             herewith
             the
             Gentlemans
             notion
             is
             of
             dearer
             buying
             ,
             and
             cheaper
             selling
             in
             England
             .
             by
             means
             of
             a
             free
             Trade
             under
             a
             Regulation
             ,
             will
             appear
             ,
             if
             you
             please
             to
             turn
             the
             Tables
             ,
             and
             apply
             that
             to
             
             English-mens
             selling
             and
             buying
             in
             East-India
             ,
             which
             he
             doth
             to
             their
             buying
             and
             selling
             in
             
               England
               ,
               English
            
             Cloth
             ,
             and
             other
             Goods
             will
             fall
             and
             be
             lessened
             in
             price
             in
             India
             ,
             because
             of
             the
             multiplicity
             of
             Sellers
             there
             ,
             and
             
             India-Goods
             will
             rise
             and
             be
             augmented
             in
             their
             Prices
             in
             India
             ,
             because
             of
             the
             multitude
             and
             freedom
             of
             Buyers
             there
             :
             So
             that
             upon
             that
             very
             ground
             and
             reason
             
             which
             the
             Gentleman
             brings
             for
             a
             freedom
             of
             the
             Trade
             in
             opposition
             to
             the
             Company
             in
             a
             Joint-Stock
             ,
             it
             is
             very
             apparent
             that
             it
             is
             the
             Kingdoms
             Interest
             not
             to
             hearken
             to
             him
             ;
             for
             pray
             consider
             ,
             what
             the
             issue
             and
             consequence
             of
             this
             would
             be
             at
             the
             long-run
             .
             The
             particular
             
             English-men
             ,
             Traders
             to
             India
             ,
             vye
             upon
             one
             another
             in
             the
             buying
             of
             their
             Cloth
             ,
             and
             other
             Goods
             in
             England
             ,
             and
             so
             for
             one
             year
             or
             two
             (
             it
             may
             be
             )
             raise
             the
             Prices
             in
             England
             ,
             and
             on
             the
             other
             hand
             ,
             in
             India
             they
             fall
             the
             price
             ,
             and
             under-sell
             one
             another
             ,
             to
             get
             off
             their
             Goods
             ,
             and
             make
             Returns
             ;
             some
             hereby
             will
             lose
             by
             their
             Goods
             ,
             selling
             cheaper
             than
             they
             cost
             ;
             others
             will
             not
             be
             able
             to
             put
             off
             their
             Goods
             ,
             and
             so
             can
             make
             no
             Returns
             ,
             and
             be
             either
             necessitated
             to
             let
             their
             Ships
             come
             home
             dead
             Freighted
             ,
             or
             to
             take
             up
             Money
             ,
             leaving
             their
             Goods
             in
             pawn
             ,
             and
             so
             not
             only
             pay
             a
             high
             Interest
             ,
             but
             hazard
             the
             spoiling
             of
             their
             Goods
             in
             those
             hot
             Countries
             ;
             when
             all
             or
             most
             of
             the
             particular
             Traders
             shall
             on
             this
             Account
             find
             a
             loss
             by
             their
             English
             Goods
             ,
             What
             probability
             is
             there
             that
             they
             shall
             continue
             to
             send
             any
             ,
             and
             so
             that
             the
             Exportation
             of
             our
             English
             Manufactures
             should
             encrease
             ?
             The
             Company
             in
             the
             Joint-Stock
             have
             managed
             their
             Affairs
             with
             such
             Prudence
             ,
             and
             with
             so
             great
             regard
             to
             the
             Kingdoms
             Interest
             ,
             that
             from
             100
             to
             400
             Clothes
             at
             most
             ,
             which
             were
             sent
             in
             former
             times
             ,
             they
             now
             send
             Annually
             4000
             whole
             broad
             Cloths
             ,
             and
             upwards
             ,
             and
             are
             still
             endeavouring
             to
             enlarge
             the
             vend
             as
             much
             as
             possible
             .
             The
             way
             to
             attain
             which
             ,
             is
             not
             by
             such
             means
             to
             raise
             the
             Prices
             in
             England
             on
             
             English-men
             Transporters
             ,
             nor
             by
             such
             a
             cheap
             selling
             abroad
             ,
             as
             renders
             the
             English
             Merchant
             a
             loser
             ,
             for
             that
             cannot
             continue
             ,
             but
             by
             an
             industrious
             endeavour
             to
             introduce
             the
             use
             of
             them
             in
             those
             Countries
             ,
             and
             by
             gaining
             and
             selling
             Trade
             in
             those
             places
             where
             our
             Drapery
             is
             most
             useful
             and
             vendible
             ;
             and
             that
             a
             Company
             in
             a
             Joint-Stock
             is
             far
             more
             capacitated
             for
             this
             than
             private
             persons
             ,
             is
             not
             only
             deducible
             from
             Reason
             ,
             but
             evidenced
             from
             Experience
             .
          
           
             As
             to
             Goods
             Imported
             from
             India
             ,
             and
             sold
             in
             England
             ,
             the
             multitude
             of
             Buyers
             in
             India
             raising
             the
             Prices
             there
             ,
             and
             of
             Sellers
             in
             England
             ,
             lessening
             the
             Prices
             here
             ,
             cannot
             but
             be
             very
             contrary
             to
             the
             Kingdoms
             Interest
             .
             And
             this
             will
             appear
             demonstratively
             ,
             if
             you
             consider
             ,
             That
             not
             above
             one
             part
             of
             four
             of
             the
             Goods
             brought
             from
             India
             into
             England
             are
             here
             consumed
             ,
             the
             other
             three
             fourths
             are
             Transported
             into
             Foreign
             ,
             parts
             .
             Now
             if
             the
             Prices
             of
             the
             one
             fourth
             part
             for
             the
             Consumption
             of
             England
             
             be
             lessened
             and
             brought
             down
             ,
             the
             like
             must
             inevitably
             follow
             for
             the
             other
             three
             fourths
             that
             are
             sent
             abroad
             .
             An
             
             English-man
             sends
             out
             Four
             hundred
             pounds
             ,
             or
             the
             value
             thereof
             ,
             and
             with
             it
             purchaseth
             Goods
             in
             India
             ,
             and
             brings
             them
             for
             England
             ;
             suppose
             one
             fourth
             part
             of
             those
             Goods
             are
             sold
             for
             the
             Consumption
             of
             the
             Kingdom
             ;
             whether
             they
             be
             sold
             by
             the
             Merchant
             to
             the
             Shop-keeper
             ,
             for
             120
             l.
             or
             for
             200
             l.
             It
             is
             all
             one
             as
             to
             the
             Kingdoms
             concern
             ;
             for
             in
             reality
             they
             stand
             the
             Nation
             in
             no
             more
             than
             what
             they
             cost
             in
             India
             ,
             and
             that
             is
             only
             100
             l.
             The
             Merchant
             ,
             or
             the
             Shop-keeper
             ,
             or
             the
             Consumer
             ,
             may
             have
             more
             or
             less
             ,
             which
             is
             all
             the
             same
             thing
             as
             to
             the
             Nations
             Concern
             .
             But
             as
             for
             the
             other
             three
             fourths
             ,
             if
             they
             be
             sold
             for
             Foreign
             Markets
             so
             cheap
             ,
             that
             they
             yield
             but
             360
             l.
             then
             the
             Kingdom
             gets
             only
             20
             
               per
               Cent
            
             thereon
             ,
             whereas
             if
             they
             be
             sold
             for
             600
             l.
             the
             Kingdom
             gets
             100
             
               per
               Cent.
            
             In
             the
             case
             of
             an
             
             English-mans
             Trading
             with
             Foreigners
             ,
             what
             the
             English
             Merchant
             gets
             ,
             the
             Kingdom
             gets
             ,
             it
             being
             so
             much
             addition
             to
             the
             publick
             Stock
             ;
             so
             that
             the
             Nation
             would
             lose
             by
             the
             cheap
             selling
             of
             
             India-Commodities
             in
             England
             ,
             and
             the
             real
             Interest
             of
             the
             Kingdom
             is
             ,
             that
             the
             English
             Merchant
             should
             buy
             them
             cheap
             in
             India
             ,
             and
             sell
             them
             dear
             in
             Europe
             ,
             which
             the
             Gentleman
             's
             own
             Argument
             evidenceth
             to
             be
             most
             probably
             effected
             by
             a
             Company
             in
             a
             Joint-Stock
             .
          
           
             Besides
             ,
             as
             to
             the
             building
             and
             maintaining
             of
             Ships
             of
             great
             burden
             ,
             and
             proper
             for
             warlike
             service
             to
             be
             made
             use
             of
             for
             defence
             of
             the
             Kingdom
             on
             occasion
             ,
             which
             is
             very
             much
             the
             publick
             Interest
             ,
             it
             cannot
             be
             imagined
             that
             private
             particular
             persons
             should
             ever
             be
             able
             to
             advance
             the
             same
             in
             any
             proportion
             to
             what
             the
             
             East-India-Company
             in
             a
             Joint-Stock
             hath
             done
             .
          
           
             Further
             ,
             the
             East-India
             Trade
             in
             a
             Company
             ,
             and
             a
             Joint-Stock
             ,
             is
             far
             more
             National
             as
             to
             the
             number
             of
             persons
             that
             have
             benefit
             thereby
             ,
             than
             possibly
             it
             could
             under
             a
             Regulation
             ;
             for
             then
             none
             could
             Trade
             to
             India
             but
             Merchants
             that
             understood
             the
             Trade
             ,
             and
             not
             all
             Merchants
             neither
             ,
             but
             such
             only
             as
             had
             great
             Estates
             ,
             and
             were
             able
             to
             stay
             two
             years
             at
             least
             out
             of
             their
             Money
             ;
             which
             few
             are
             in
             a
             capacity
             to
             do
             .
             So
             that
             the
             Trade
             would
             be
             confined
             into
             a
             few
             hands
             ,
             (
             100
             or
             150
             at
             most
             ,
             )
             whereas
             ,
             now
             it
             is
             in
             a
             Company
             and
             Joint-Stock
             ,
             Noblemen
             ,
             Clergy-men
             ,
             Gentlemen
             ,
             Widows
             ,
             Orphans
             ,
             Shop-keepers
             ,
             and
             all
             others
             ,
             may
             have
             Stocks
             there
             ,
             and
             reap
             equal
             benefit
             thereby
             .
             There
             are
             at
             this
             day
             about
             
             Six
             hundred
             persons
             which
             appear
             on
             the
             Companies
             Books
             to
             be
             Interessed
             in
             the
             East-India
             Stock
             ,
             and
             under
             them
             ,
             it
             may
             be
             many
             more
             ;
             whereas
             ,
             if
             the
             Trade
             were
             put
             under
             a
             Regulation
             ,
             three
             fourths
             ,
             or
             more
             ,
             of
             those
             persons
             could
             have
             no
             Interest
             in
             it
             ,
             or
             benefit
             by
             it
             .
          
           
             I
             shall
             not
             farther
             enlarge
             on
             this
             subject
             ,
             and
             beg
             your
             excuse
             ,
             that
             I
             forbear
             to
             say
             any
             thing
             of
             the
             third
             particular
             you
             mention
             in
             yours
             ,
             viz.
             whether
             some
             Orders
             and
             Rules
             may
             not
             be
             necessary
             to
             be
             established
             for
             the
             Improvement
             of
             the
             East
             -
             India-Trade
             ,
             in
             a
             Company
             with
             a
             Joynt-stock
             ,
             other
             than
             what
             at
             present
             the
             Company
             is
             in
             the
             exercise
             of
             .
             I
             have
             in
             the
             general
             told
             you
             my
             thoughts
             freely
             ,
             that
             a
             Company
             with
             a
             Joynt-stock
             is
             in
             my
             apprehension
             the
             best
             way
             for
             the
             Management
             of
             that
             Trade
             to
             the
             Kingdoms
             advantage
             .
             Some
             reasons
             I
             have
             given
             you
             ,
             that
             induce
             me
             to
             be
             of
             this
             Judgment
             ,
             which
             I
             leave
             to
             your
             Consideration
             .
          
           
             For
             a
             close
             ,
             Give
             me
             leave
             by
             way
             of
             Enquiry
             to
             ask
             you
             ,
             what
             should
             be
             the
             reason
             ,
             that
             the
             present
             East
             -
             India-Company
             hath
             so
             many
             Enemies
             ,
             and
             is
             so
             much
             talked
             against
             almost
             amongst
             ,
             all
             sorts
             of
             men
             ?
          
           
             Is
             it
             because
             some
             persons
             that
             would
             not
             subscribe
             at
             the
             beginning
             of
             the
             Stock
             ,
             nor
             vet
             afterwards
             ,
             when
             the
             Books
             were
             laid
             open
             ,
             are
             filled
             with
             Envy
             at
             the
             Companies
             prosperity
             ,
             and
             would
             ruine
             all
             ,
             because
             they
             are
             excluded
             by
             their
             own
             default
             ?
             There
             may
             be
             much
             in
             this
             ,
             and
             yet
             any
             that
             will
             ,
             may
             buy
             Stock
             ,
             according
             to
             the
             Market-price
             when
             they
             please
             .
          
           
             Is
             it
             from
             some
             averseness
             or
             dissatisfaction
             to
             the
             Government
             ,
             that
             they
             cannot
             be
             content
             any
             thing
             should
             prosper
             and
             thrive
             under
             it
             ;
             This
             Stock
             having
             prospered
             and
             advanced
             exceedingly
             since
             his
             Majesties
             happy
             Restauration
             ,
             beyond
             what
             it
             did
             before
             ?
             I
             cannot
             believe
             that
             any
             are
             so
             vile
             and
             wicked
             .
          
           
             Is
             it
             that
             some
             persons
             are
             influenced
             from
             our
             Neighbours
             ,
             that
             have
             still
             been
             labouring
             to
             turn
             every
             stone
             that
             might
             have
             a
             tendency
             to
             destroy
             the
             English
             East
             -
             India-Trade
             ;
             and
             they
             well
             know
             if
             they
             can
             unhinge
             the
             present
             Joynt-stock
             ,
             they
             have
             done
             a
             great
             part
             of
             their
             work
             ?
          
           
             Is
             it
             that
             some
             apprehend
             ,
             that
             under
             a
             pretence
             ,
             that
             the
             Nation
             decays
             in
             their
             Stock
             ,
             Rents
             ,
             and
             Trade
             ;
             Hue
             and
             Cry
             is
             like
             to
             ,
             be
             made
             to
             find
             out
             the
             causes
             and
             occasions
             of
             it
             ,
             and
             
             so
             would
             set
             the
             East
             -
             India-Company
             in
             the
             way
             to
             answer
             the
             charge
             ,
             and
             stay
             farther
             pursuit
             ?
          
           
             Whence
             is
             it
             that
             the
             Clothiers
             and
             others
             in
             several
             Counties
             are
             so
             earnest
             and
             clamorous
             against
             the
             said
             Company
             ,
             as
             if
             they
             were
             the
             occasion
             of
             all
             the
             evil
             the
             Nation
             is
             under
             ,
             by
             their
             not
             sending
             abroad
             more
             of
             our
             Drapery
             ;
             when
             as
             it
             is
             apparently
             known
             that
             the
             East
             -
             India-Company
             have
             of
             late
             years
             bought
             and
             sent
             to
             India
             ,
             ten
             times
             more
             of
             our
             Drapery
             than
             was
             usually
             sent
             in
             former
             times
             ?
             So
             that
             they
             cannot
             occasion
             the
             decrease
             of
             the
             vent
             of
             our
             Drapery
             ,
             that
             have
             so
             much
             augmented
             it
             ;
             and
             the
             true
             causes
             must
             lye
             elsewhere
             :
             Whether
             because
             the
             Trade
             of
             France
             takes
             not
             off
             one
             tenth
             part
             of
             the
             
             English-Drapery
             ,
             it
             formerly
             did
             ;
             or
             because
             of
             the
             setting
             up
             of
             the
             Woollen-Manufacture
             in
             Ireland
             ;
             or
             for
             what
             cause
             ,
             I
             leave
             others
             to
             judg
             ;
             but
             am
             sure
             the
             East
             -
             India-Company
             could
             be
             no
             cause
             of
             the
             decay
             of
             the
             vent
             of
             our
             Woollen-Manufactures
             ,
             though
             the
             cry
             is
             made
             against
             them
             .
          
           
             A
             little
             thing
             may
             serve
             to
             destroy
             and
             ruine
             the
             Trade
             ;
             but
             it
             will
             be
             a
             difficult
             matter
             to
             regain
             so
             advantageous
             a
             Trade
             to
             the
             Kingdom
             ,
             if
             it
             were
             once
             lost
             :
             And
             therefore
             I
             hope
             that
             all
             who
             seriously
             and
             sincerely
             consider
             the
             Kingdoms
             Interest
             ,
             will
             be
             careful
             to
             prevent
             so
             great
             an
             evil
             ,
             as
             the
             loss
             of
             the
             East
             -
             India-Trade
             would
             be
             to
             the
             Nation
             ,
             &c.
             
          
        
         
           FINIS
           .
        
      
    
     
       
         
         
           ERRATA
           .
        
         
           PAg.
           2.
           lin
           .
           2.
           1
           :
           would
           all
           be
           ?
           If
           there
           were
           no
           Foreign
           Trade
           ,
           p.
           14.
           l.
           3.
           for
           
             has
             1.
             as
          
           .
        
         
      
    
  

