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Word A	Word B	Word C	Word D	Occurrence	Frequency Band	MI	MI Band	Prominent
end_n	act_n	parliament_n	session_n	2,713	5	11.3473	5	true

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ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A25581	An Answer to the case of the old East-India Company as represented by themselves to the Lords spiritual and temporal in Parliament assembled.		1700 (1700)	Wing A3395; ESTC R18101	11,811	24

then Companies Affairs were in such a Condition that it would be a plain Cheat to others that should come in upon their Stock However Law and Reason failing they had recourse to other Means and grea Summs of Money were distributed as it was acknowledged before a Committee of both Houses of Parliament to get a New Charter for the Old Company and at length a New Charter was obtained but those who were concerned to advise his Majesty in point of Law were so just to their Trust as to take care that no Right of Trade exclusive of others was granted and also that the Company should submit to such Alterations Restrictions and Qualifications as the King should make before the 29th Septemb. following and so on the 17th Novemb. a New Chapter of Regulations was made and another the 28th Septemb. 1694. Wherein amongst other things was the Proviso before mentioned That if it shall appear to the King his Heirs and Successors that the said two Charters or any other Charters heretofore granted shall not be profitable to the King his Heirs or Successors or to this Realm that then and from thenceforth upon and after three Years Warning to be given to the said Company by he King his Heirs or Successors under his or their Privy Seal or Signit Manual the several Letters Pattents c. shall cease be void and be determined Vpon the Security of this Charter the Company say pag. 4. they consented to a New Subscription and that there was anew subscribed 744000 l. and the Money brought in during the Sitting of the Parliament and that nothing was done said or offered against the Charter of Regulations so that upon the Publick Faith at least tacitly given 781 New Adventurers of which many are Widows and Orphans did subscribe a large part of their Substance to support this Trade during a Hazardous War for the Profit and Honour of England and that the new Adventurers thought they might without any Hazard subscribe on the Security of a Charter which was so plainly designed by his Majesty to preserve the East-India Traffick then in Danger of being lost This is the Gloss put upon that Transaction but let us examine the Matter to the bottom and then see whether it has not another Face How this Charter was obtained appears by the Report of the Committee of the Honourable House of Commons who finding great Summs of Mony paid for special Service and observing that the greatest Payment was in the Year 1693. they searched for the Orders for the Issuing of that Money the chief of which were One dated the 13th April 1693. at a Court of Committees in the Words following The Governour this Day acquainting the Court with what Proceedings had been made in their Affairs towards granting a new Charter and which what had been disbursed by him in prosecution thereof the Court approved of the said Charges and ordered a Warrant to be made out for the same and returned him thanks for his great Care Pains and Trouble in their Service desiring him to proceed in the perfecting thereof Another was Dated the 24th of November 1693. at a Court of Committees held the same Day viz. The Governour this Day making a Representation of what Summs of Money had been by him of lae disbursed in the management and carrying on of the Companies Affairs for their Service the Court approved thereof and ordered that a Warrant be made out for making the same paid in Cast accordingly giving him their Thanks for his great Care and Pains taken therein Another was at a Court of Committees holden the 22d of January 1693 4. in the Words following It being represented to the Court that in the further Prosecution of the Companies Affairs and in Order to their Settlement there have been several Summs of Money disburst amounting to 30000 l. in the whole the Particulars whereof were now laid before them on Consideration thereof had it is Ordered that the said Monies be made paid in Cash The said Committee of the House of Commons found by Examination of most of the Persons present at the aforesaid Committees that the Governour in the said Committees did only in General inform them what Summs he had disburst without naming the Particulars to whom or for what Service which several of them said was a new Course since Sir T. C. came to be Deputy Governour or Governour but in all times before he was concerned the Particulars of all Summs for the special Service of the Company were declared Further the said Committee found that in pursuance of the first Order dated the 13th of April 22275 l. was paid out of Cash in pursuance of that Order and 24983 l. in pursuance of the next Order dated the 24th of November 1693. and 30000 l. in pursuance of the last Order of the 22d Jan. 1693. Amounting in all to 77258 l. besides several smaller Summs amounting in the whole to 10144 l. 12 s. 3 d. Which with the former Summ makes 87402 l. 12 s. 3 d. And what Security was to be expected from a Charter so obtained which had more in it as it is to be feared of Private Promises than Publick Faith or such a Summ of Money was ill bestowed and Sir B. F. on his Examination on Oath acknowledged he had said to one with whom he treated that he would not let the Companies Money go for nothing so that it is not to be wondred that the Parliament took no Notice of the Matter whilst the Money was paying in when it is considered what is said above and Sir T. C. amongst other things acquainted the Committee of both Houses That there were several Contracts some to the Value of 60000 l. on Account of procuring a new Charter and others to ther Value of 40000 l. on Account of procuring an Act of Parliament By such means it might be hush'd for a while but it was not long before the Parliament took Publick Notice of it and if the greater Affairs of the Nation had not been so urgent and the Sessions been so near an End perhaps the Company might have had Justice done them then and been past complaining of any Imaginary Injustice done them now It appears therefore very plainly that it was not for the Profit and Honour of the Nation and to support the Trade that the New Subscribers came in but they were deluded into it by a Charter obtained by Indirect Means and by the hopes of an Act of Parliament to confirm it to be obtained in the same Manner The Trade would have been much better preserved and more to the Honour of the Nation if no such underhand Practices had been carried on and if some Persons thinking themselves to have a greater reach than others or being deceived by the Old Companies making his Majesty believe their Stock to be worth 750000 l. and by afterwards sharing 325000 l. of the New Subscribers Money amongst themselves or by the Persons failing them who had promised to get

Commons thought fit to raise a Fund of 8 l. per Cent. for the Payment of the Interest of Two Millions and that such as lent their Money should be intituled to Trade for so much as they lent to the East-Indies which was no more than this In the present Exegency of Affairs the East-Indies rather than any other Trade only they judged it reasonable to give all an equal Liberty to come in whereas the Company would have had it partial and that they only and such as would have been again drawn in by them and come in upon their bottom should have had the Benefit This was the true Case Pag. 6. The Company say That after the Bill was brought in viz. the 10th of June They did agree to submit their present Stock to a Valuation of 50 l. per Cent. viz. 20 l. per Cent. for their dead Stock and 30 l. per Cent. for their quick Stock which they were contented to warrant at the said Summs and upon these Terms they offered to open their Books for new Subscriptions in Order to raise the two Millions and afterwards to ascertain the Payments of the said two Millions they had a General Court on the 20th of June which was when the Bill was well nigh passed the House of Commous in which they agreed to an immediate Subscription by private Adventurers 20000 l. to be paid as the first Payment subject to make good the subsequent Payments which Subscription was accordingly made This is the Proposal as the Company exprest it in their own Case and from whence it is talkt up and down the Town as if the Company made an Offer of Two Millions and that it is Hardship upon them that they who were in Possession and offer'd the same Summs should not be accepted rather than others and the Company insinuate this when they say Pag. 5. That formerly it has been the constant Custom in Farms Bargains and Offers of the like Nature not to close with a new Proposal till the first Bidder be asked whether he is able to advance further and that notwithstanding their Charter and the Right they have to the Trade they were early told their Proposal should be opposed though they offered the two Millions in question I think with Submission if any preference had been shewn by a Parliament it would have been to those who were willing to stand by and adhere to the Legal Rights of the Subjects of England and not to those who strive by undue Means to gain and support Grants not founded on Law however the Parliament have thought fit to make no difference and therein the private Traders acquiesce But as to the Companies offering to raise two Millions when what they and others call an Offer is taken to pieces and examined it will be found only an Evasion and no such Offer in reality with an Intention that it should take effect only an amusement to gain time and so to baffle the Bill For 1. They agreed to submit their Stock to a Valuation of 50 l. per Cent. viz. their dead stock 20 l. per Cent. and their quick Stock 30 l. per Cent. which they were contented to warrant at the said Summs and upon these Terms they offered to open their Books for New Subscriptions in Order to raise the two Millions They knew very well that others did not value their Stock at any thing near so much and that no Body would be gulled a second time to come into them and not only to take their Stock at 50 l. per Cent. which was believed not to be worth 20 l. but to join with them and become subject to all their intricate Accounts and Incumbrances and answerable for all their Misdemeanours which the Stock if there be any must answer for if the Parliament should think fit to call them to an Account which possibly may come to pass if the Company continue to provoke them by censuring and aspersing their Proceedings because it has not suited their extravagant Expectations Well this they were aware of and therefore to mend the Matter they were contented to warrant their quick stock at 30 l. per Cent. They were content that is the Company were content that the Stock which most People believe is not worth 3 l. per Cent. should warrant it self to be worth 30 l. per Cent. and upon whom should any one have come for making good this Warrant and when This is plainly to offer nothing at all But 2dly To ascertain the Payment of the two Millions they subscribed 200000 l. subject to make good the subsequent Payments let us consider this a little Upon the Parliaments Acceptance of this their Proposal they might reasonably expect in Act to be passed in their Favour and then if no more then the said 200000 l. had been subscribed as for the Reasons before-mentioned it is more than probable there would not what would have been the Consequence Why 1st The Company would have obtained what they have been so long aiming at an Act of Parliament exclusive for the Summ of 200000 l. 2dly The King would have been defeated of a much more considerable Loan the Company offering Subscriptions for 200000 l. and others delivered in Subscriptions for above 1200000 l. Now as the Companies Case says pag. 9. All things are seen where every one are concerned to look so the House of Commons wherein are so many piercing Eyes and all concerned to look soon saw that this Proposal was in no sort adapted to answer the End that is the Parliaments End to get the King Two Millions of Money though it would fully have answered the Companies End if it had been complied with to have got the East-India Trade settled on them exclusive of others for the Summ of 200000 l. which would have been to them a very good Bargain for they knew their Stock would presently have advanced twice that Summ. Well now we are going along with the Companies Case at length come to the Bill Which they say pag. 6. highly tends to the prejudice of the Companies Charters and Rights thereby granted and also to deprive them of their Property which they have in Lands of Inheritance and other Estates and Interests in Forreign Parts to the Value of 44000 l. per Annum which Bill likewise by undeniable consequence deprives them of their Possession and Right in several Forts and Fortifications the Purchase and Improvement of which have at several times cost them above a Million of Pounds Sterling If a Person is Tenant at Will or has a Lease for Years of ceretain Ground and woll build or otherwise lay out Money extravagantly upon what he knows he may be turned out of at the Pleasure of the Lord of whom he holds or at most upon three Years Warning is there any Injustice in his Landlord to make Use of the Power reserved upon the Demise or is any one to be blamed but the Tenants own Indiscretion the Company knew upon what Terms they