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B10200 A True Relation of the rise and progress of the East India Company, shewing how their manufactures have been, are, and will be prejudicial, to the manufactures of England; and what endeavours have been used for and against any restriction. Together with some remarks thereon. 1699 (1699) Wing T3035A; ESTC R185714 6,268 5

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of this Nation to wear East India Goods because Cheap and send our own to Forreign Markets where they may be Sold to more Advantage Both which Arguments were denyed and they were challenged to prove their Assertions which to this day they have not done and till they do it 's hop'd their bare asseverations will not be taken for granted truths The Advocates for and against this Trade were very numerous at this time and several other Reasons offered Pro and Con. For the East-India Trade there was an Essay writ by a great Master of the English Style who with extraordinary Computations and Rhetorical flourishes endeavoured to represent this Trade Profitable to England but his Computations and Observations being many of them not well grounded several Answers were given thereunto however the Discourse was admired and did Service at that time But the same Gentleman since treating on another Subject has either altered his Opinion or else unfortunately wrote something in a late Essay on the probable methods of making a People Gainers in the Balance of Trade that makes many Men think so The Ladies in general shew'd a great aversion to this Bill whether from a dislike taken at the Word Restraining or from a strange delight for far fetch'd and dear bought prefer the Indian before the English Manufactures unless the Seller will solemnly declare they are Indian made not considering how impossible it will be for their Rents to be paid if the English Manufactures be ruin'd which must be the necessary consequence of such unaccountable fancies which if they did we verily believe they would soon restrain their Aversion And what force such Advocates had we will not pretend to determine but hope they 'll now be Advocates for this Cause The beginning of the last Sessions further Applications were made and the Manufacturers apprehending that the Method proposed by the former Bills would not fully Answer the Prohibition design'd offered another Bill by which all Silks Bengals and Callico's which were to be Prohibited being worn in England should have been confin'd to certain Ware-Houses and not thence removed till Exported but this Method not being well understood or judged reasonable was opposed and the Bill stopt thereupon Towards the latter end of that Sessions certain very rich Merchants and others proposed to lend the Government two Millions upon condition to have 8 per Cent. per Annum and liberty to Trade to the East-Indies exclusive of all others The Necessities of the Government for Money at that time induced a compliance and a Settlement of that Trade was made accordingly The English Manufacturers with dejected Countenances and aking Hearts beheld this mighty Structure which was raised by the help of some of their Principal Pillars and foreseeing the dismal consequences complain'd but were told 'T was not then time nor must they oppose or clogg the Bill the two Millions being absolutely necessary for Supply of the Government but were likewise told That care should be taken of them And the chief Promoters of the Bill as Mr. Samuel Shepherd mr Heathcote and many others declared at that time to divers Members of Parliament London Weavers and others That they were as sensible as they or the Weavers could be that the Manufactur'd Silks Bengals and painted Callico's were very prejudicial and destructive to the Manufactures of England and promis'd with a great deal of seeming Sincerity That they would very readily agree to any reasonable Restraint afterwards but nothing must be then done for fear of disturbing the Loan so necessary to be raised by that Bill The Manufacturers having all along shewed their Zeal for the Support of the present Government were from these Considerations induced to be quiet and wait a more favourable juncture and the London Weavers were so allured with the fair Speeches and charming Promises of these New East-India Merchants that upon calling this Parliament they thought none so fit for their Representatives as they so that by their Interest and Industry two of the Principal Directors were very near carrying the Election for the City of London But now the Tables are turned and the New East-India Men as zealously oppose all Restrictions as the Old and tho' they made shew of consenting to some Restraints and some Meetings and Discourses were had thereupon yet they never proceeded further but lately neglected to meet several Members of Parliament and others at Time and Place agreed on by their own Appointment By which practises they plainly shew That all East-India Traders have the same Principals and Interest to Support and Carry on This New Company being thus Settled and the Old getting in for a considerable share are now striving hard which shall Ride on the Fore-Horse but both agreed to drive on to our Ruine if not Restrained by the Legislative Power of the Nation For if when they had a Stock but of Three hundred seventy two thousand Pounds and no Act of Parliament to Support them they drove so great and pernicious a Trade as is herein before recited what can any Rational Man think will be the consequence of a Stock of Two Millions which is more than is used by all the Manufacturers of England The very prospect makes many true Lovers of their Country Hearts ake The great quantities of East-India Manufactures lately Imported and the prospect of much greater in a very short time has been the great occasion of the ruine of the Canterbury Trade which is reduced in less than three Years time above Seven Parts in Eight And have also necessitated most of the London Silk Weavers to give over their Trades many of them are gone to Ireland and other Foreign Parts and a great many of those left behind are fallen to Comb Card and Spin Wooll and make Worsted Stuffs Druggets Says Serges and almost all other sorts of our Woollen Manufactures which have and must of Necessity hinder the Weavers and Clothiers in the several Counties and Places where these Manufactures have been for a long time made The sad Effects whereof are already so sensibly felt in the Cities of Norwich and Canterbury that great multitudes are there out of Imployment and being so are reduced to great Necessities and thereupon grown very uneasie and burdensome to those Cities and Neighbourhoods And although the East-India Advocates pretend and insinuate That the reason of the London and Canterbury Weavers leaving off proceeds from the want of Raw Silk which is now very scarce and dear this tho in some measure is allow'd to have lessen'd their Trade yet the principal Cause proceeds from the East-India Silks Bengals and fine painted Callico's For were they not brought in and so generally worn here the Weavers cou'd still very well have gone on with their Trades in Slight Silks Half Silks and the like And that which adds still to their misfortune is That there has been as we are told and fear it 's too true above 600,000 l. in less than Ten Months sent to the