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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A60789 Some considerations upon the late act of the Parliament of Scotland, for constituting an Indian company In a letter to a friend. 1695 (1695) Wing S4497; ESTC R218726 4,962 4

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Some Considerations upon the late ACT of the Parliament of SCOTLAND for Constituting an INDIAN COMPANY In a LETTER to a Friend SIR YOUR last to me brought a Printed Act of the Parliament of Scotland for Constituting an Indian Company in or for that Kingdom together with your own Thoughts and those of some others upon it In the first place you say That this Act consists of such Extravagant and unusual Priviledges as was never granted by any other Prince or State and which are not only without a Precedent but may hardly be imitated by any other Nation And in the second place That this Act will in a particular manner be prejudicial to the Trade of England since these vast Priviledges will enable the Scots to under-sell the English and consequently draw the Foreign Trade from hence For Remedy of which you hope and wish that the ensuing Parliament may grant such Priviledges and Exemptions to our Companies of Trade in particular and to the English Nation in general as may be suitable and sufficiently equivalent to those granted in Scotland And that you doubt not but they will likewise prohibit any of the Subjects of the Crown of England from being concerned and use all other means to render this new Company ineffectual Though I have hitherto been and am as far as others from wishing or seeking the Prosperity of any Country that may in the least interfere with that of my own yet cannot I forbear being of Opinion that if the Government and People of Scotland or any other Nation in their condition will in good Earnest Encourage Foreign Trade they ought to grant such Piviledges as are contained in this Act with some other very material Additions which I find there omitted however in the main the Scots are in the right if by granting a few Prviledges which cost them nothing they can introduce a brave and vigorous Constitution of Foreign Trade into their Country and it is well for them if the short space of One and Twenty Years wherein the chief of their Priviledges consists prove sufficient to entice and allure any considerable part of the Rich Warm and Fertil Indies to the Poor Cold and Barren Scotland Such as these and other large Priviledges were granted by the Mighty French King above Thirty Years ago to a Company by him constituted with a larger Capital than any other in the Trading World before it To this Company he became obliged to furnish Men of War and Convoys not only in the places of Europe but even to and from the Indies and which is more he deposited a Fund of several Millions of Livres to bear the Company 's Losses for the first Ten Years Suitable to this the King of Denmark and the Elector of Brandenburgh have granted Protections Priviledges and Immunities to an Indian Trade vastly beyond what Scotland is or perhaps can be capable of Yet were they so far from having the wished for Success that we see them under a sensible Decline before they are come to any tolerable Growth or Maturity So that upon the whole I see no great cause of Umbrage to us from those remote cold and doubtful Designs of the Scots of which even the Success can come to but little in the present Age. In the mean time we may elsewhere find sufficient scope for all our Jealousie Anger and Heat for the Dutch do not only propose but actually possess most of all the Foreign Trade of Christendom which they have gained upon us and other Nations by preserving their Trade and Navigation free from Restraints and Impositions The Powers and Priviledges granted to their East-India Company hath brought them to a pitch of Greatness beyond whatever was of that kind in the World who though they are but Subjects in Holland yet are they one of the greatest Soveraigns upon Earth in India Thus if we look abroad Experience will teach us those Priviledges are neither without a Precedent nor inconsistent with Royal Majesty but are only such as we and they or any other People ought to grant if we will in earnest encourage Foreign Trade The Practice of France Denmark and other Princes and People is sufficiently convincing that a Company of Trade can never subsist by a little unsteady precarious sort of Interloping the Spirit of Piracy begins to haunt and infest the Trade of the Eastern World and the Governments there will daily find more cause to suspect such for Pirates and Robbers who have not Residence and Place or places of Abode in India whither they can have recourse for reparation in case of wrong England France Holland and the other Countries of Europe being too Remote and uncertain for them the truth of which the two very last Interlopers experienced who were both Arrested in India and had been made Prize by the Natives if the Company had not interposed And in Africa and America it is still worse for the Natives there are altogether Barbarous so that nothing but good Forts convenient Situations strong Footing and Numerous Inhabitants can support and maintain Trade there And were there no Opposition it will of course be the work of an Age before any such Settlement can be made But what Opposition may this Company not expect since all the most considerable Nations of Europe have strong and sure Footing in the Indies and drive their respective Trades exclusive of all others all those will look upon this new Comer with a Jealous Eye and do their utmost to nip all their Designs in the bud France Denmark Brandenburgh and others have experienced this and so may the Scots Company time enough to their Cost but all these Difficulties are still the greater since this Company will be considered as belonging to a Country which although it be a Soveraign State yet hath neither Force nor Means to exercise Regular Acts of Soveraignty abroad and the Naval and other Forces of England will hardly think themselves concerned to promote and assist this Company but rather the contrary But although there seems to me no great danger from this Cause whatever there be from others of which we seem less sensible yet I shall come to your Remedies which are two-fold First you would have our Commercial Companies in particular and the Trade of England in general encouraged by Priviledges suitable to these contained in this Act of Parliament And in the Second place you would prohibit all English-men or more properly speaking all the Subjects of the Crown of England from being concerned in this new Company For the first part of your Advice whether it be called a Remedy an Expedient or what else you please I think it should have been long since done from other Motives than a Scotch Emulation but better late than never should this prove the happy means to induce the Government and People of England to take off their unaccountable Impositions Restraints and Prohibitions upon Foreign Trade should this move us to encourage instead of depressing our