sent at all if England were deprived of this Trade because neither Dutch nor French would enure the Indians to our Manufactures The Second Proposition that the Clamours Aspersions and Objections made against the present East-India Company are sinister selfish or groundless Object 1. SOme of the Turkey Merchants say The bringing in of so much Silk and so cheap is a publick â—usance and destroys their Trade which depends wholly upon the Exportation of Woollen Manufacture whereas the East-India Company send out little Manufacture and much Bullion c. Answ. 1. 'T is strange Doctrine to Men skilled in Trade that the making a Material 〈◊〉 that is to be manufactured at home or exported again into foreign Countries 〈◊〉 be to the publick damage 2. The Turkey Merchants have Shipt out more Cloth yearly since the great encrease of 〈◊〉 East-India Trade than before 3. The Question is not Which Company sends out most Woollen Manufactures but which is 〈◊〉 most Profitable Trade to the Nation and that is before shewn 4. If the Exportation of Bullion hinders not the Exportation of our Manufactures as in 〈◊〉 appears and if for every 10 s. value sent out 30 s. be brought in Bullion at the long 〈◊〉 which is evident in the course of the East-India Trade then the Exportation of Bullion 〈◊〉 a great and real advantage 5. The Turkey Merchants do send out a great deal of Bullion themselves which is no 〈◊〉 but their complaining of others for the same thing is 6· The truth of the case at the bottom is but this the Importation of better and â—â—eaper raw Silk from India may touch some Turkey Merchants profit at present tho' it â—enefits the Kingdom and â—inâ—ers not the Exportation of Cloth What then Must one â—rade be interrupted because it works upon another At that rate there would be noâ—â—ing but Confusion in a Nation ad infinitum Our Plantation Sugars have brought down â—â—e Lisbon Sugars within memory of mâ—n from 8 l. per Centum to 2 l. 10 s. per Centum â—nd yet the Exportation of our Woollen Manufactures to Portugal is now greater then â—ver it was just as 't is and will prove in the Turkey Trade 7. If those Turkey Merchants think the East-India Trade so good why do they not â—ome into it themselves The Door is open always to them and all the King's Subjects Object 2. They say there are not above 80 legitimate Merchants in the East-India Company Answ. 1 By Legitimate Merchants they mean such as have served Apprenticeships in the â—umber thereof they reckon short above half 2. It matters not two Straws to the Kingdom whether they be legitimate or illegitimate â—hey are in the whole 556 which is moâ—e by a great many than the Turkey Merchants 〈◊〉 more by above half than they would be if the Trade were not managed in a joynt â—â—ock Object 3. They say the Company have half the known World in their Charter and that 's 〈◊〉 much for any Company c. Answ. 1. They have no more in their Charter than all the East-India Companies in Christendom have in their Charters 2. The Company is a Company of all or of so many of the King's Subjects as desired to â—e concerned in that Trade or yet do they buying Stock Object But 't is dear buying at 280 l. per Cent. Answ. 1. 'T is less then the intrinsiâ—k value if the Stock were now to be broke up 2. If it be too dear any Man may be as justly compellâ—d to sell his House at the Buyers â—rice or else be disseized of â—t as his Stock in the Company Object 4. They say the Charter hath exorbitant and illegal Clauses in it Answ. 1. No Charter in Europe hath less of that kind 2. 'T is absolutely neceâ—sary that whoever governs a Trade so remote and by such a Multitude of Hands as are employed should have some extraordinary Power committed â—o them 3. Whâ—tever is in the Charter the Company never did any arbitrary Acts nor ever seized Shiâ—s or Goods by vertue of their Charter tho they have oâ—ten had cause Object 5. They say the Company have impâ—â—â—d and exacted great Fines Mulcts and Forfeitures to an immense value Answ. What they take in any case is by submission of the party by agreement with the Master and Owners in Charter-party or by Arbitrations and always in pursuance of legal Obligations sealed and delivered It is highly reasonable the Company being at above 100000 l. yearly charge in India and England that whoever participates of the Trade should proportionably contribute to the Expences that necesâ—arily attend the preservation of it Object 6. They say besiâ—eâ— Raw Silks the Company imports wrought Silk to the prejudice of the Silk Manufacture in England Answ. 1. This lies as much and more against all other wrought Silks imported into England from Italy Holland c. 2. The Silks which they commonly bring in are the main part of them Taffaties and other plain or striped Silks such as are not usually made in England but imported from France Italy Holland So this importation work upon our Neighbours 3. A great part of the wrought Silkâ— imported by the Company are again Shipt out to France Holland c. to the great advantage of the King and Kingdom Object 7. Some Clothiers complain that the East-India Company hindâ—rs the vent of Cloth. Answ. 1. This deserves a thorow inspection 1. Who they are that complained 2. When and how they began to complain 3. Why they complain 1st For the time when it was in the year 1674 or 1675 Then they had the confidence to tell the Parliament the Company would spoil the trade of Cloth and bring the price of Wool to nothing But in fact the Company hath now stood five or six Years since that time and much augmented their Trade for India but Wool is advanced in price above 50 per centum and there hath been such a trade for Woollâ—n Manufactures as England never saw in any former age 2. Who they were that complained Not the poor Kentish Clothiers that have lost their trade nor the Suffolk Men that have lost their Manufacture of Blâ—w Cloth but the Worcester Glocester and Somerset-shire men that do now make and vend above twenty times the Cloth they did before this Company was erected 3dly How they began to complain Their first Petition was drawn only against the Turkey Company for making but one Cloth Shiping in a year But a certain Counsel since famous for other matters told them they should draw their Petition against the Eâ—st-India Company likewise which they did whether the Dutch or some of England gave the best Fees is uncertain 4. Why they complained That few understood Their Trade was wonderfully encreased and the East-India Company had sent out in some one Year above ten times as much Cloth as was ever sent out in the time of open Trade Object 8. They complain thâ—t the prâ—sent Stock is engrossed into
per cent Interest others that trade in an open or regulated Trade 〈◊〉 value their Money at 6 per cent Now iâ— the Company with their united Stock and Counsels and Money at â— per cent have much ado to hold up against the subtil Dutch what shall poor private Mâ—â—châ—â—ts of divided various and contrary Interests do with their little seperate Stocks at 6 per cent per annum Arg. 3. In regard that all other Europian Nations do now drive the East-India Trade iâ— â—oynt Stocks it seems madness to enter raw and private Persons against such compacted and united Constitutions of experienced Counsellors suppoâ—ted with an inexhaustible Treasure Arg. 4. Should the Company be destroyed and the Trade left open their Priviledges in India would be lost which have cost vast sums to maintain and retrive some whereof are these viz. The Liberty of Coinage and their Money pâ—ssiâ—g current in all the King of Gulcondaâ— s Country Freedom of Customs in almost all places and in some where the Dutch and other Nations pay Custom At Fort St Gâ—orge and Bombay the Company haâ—â— a right and dâ—th impose a Custom upon the Natives and all other Nations In the Empire of Persia they are Custom free and have yearly from the Empâ—ror aovbe 3000 l. in lieu of the half Custom of his own Subjeâ—ts and all others trading thither At Bantâ—m they are at a set rate of 4000 Dollars per annum for all Customs tho' trade be never so much increased They are in most places of India in effect their own Law-makers and can Arrest and Imprisâ—n any Natives that deal with them or owe thâ—â— Money All their black Servants and others employed by them or tradiâ—g with them are free and exempted from the Iurisdiction of the Native and other Governours They are in all places free in their Persons and Goods from all â—nland Customs and Duties which are very great upon the Natives Arg. 5. This Nation sustained great Losses Damages and Depredations in the three Years of open trade so that at length the very private Traders themselves were the forwardest Petitioners for a return to a joynt Stock Arg. 6. There are above 100 Kings and absolute Princes in India and as many Ports and Places of Trade which would need forty Ambassadors and 〈◊〉 must have Instructions and carry large Presents Arg. 7. Letters pass freely to and from Turkey in a short time and in case of Injuries done the King's men of War may soon go and revenge them but India is at a far greater distance and no certain return of a Letter to be hâ—d once in twelve Moneths and it is more difficult to maintain a Correspondence in India from Port to Port then between England and Turkey Arg. 8. Where-ever the English settle a Factory they must presently build them large Houses Ware-housâ—s c. and take many Servants c. If it be said This may be done by a regulated Company It is answered First how shall they raise a Stock to buy those the Company already have which with what else they have there have cost them above 300000 l. Next how shall they maintain and defend them By Leviaâ—ions upon Goods What before there are any Goods to tax No they shall raise a joynt Stock to make the first purâ—hase and after take only a Tax upon Goods to maintain them These are absurd incongruâ—us and 〈◊〉 practicable Notions For in a time of War danger Men will forbear trading so that there will â—e no Goods to tax when there is most need of Money Whereas the Goveâ—nours or Committees 〈◊〉 alwaâ—s in their Hands a real Fond of above a Million of Money anâ— can borrow so much more in India in a few days if they want it their Credit there being as current 〈◊〉 ready Golâ— Arg. 9. The East-India 〈◊〉 aâ— have that of Holland have power by their Charter to make War upon any Nation in India at dâ—â—â—retion this Power they must have for carrying on of their Tradâ— Now to whom shall this Power be delegated in a regâ—lâ—ted Company to all English men or to a single Ambassador or to many Ambassadors and Consuls The Fifth Proposition That the East-India Trade more profitable and necessary to the Kingdom of England than to any other Kingdom or Nation in Europe 1. THis is so as we are an Island and have our Security as well as the increase of oâ— Riches from our Trade and Strength at Sea. 2. The trade of India is to England not only a great but an unmixt advantage Wherâ— as to our Neighbours they cannot have it without some mixture of loss in other respectâ— some of them having the production of Silk among themselves as Italy and France Anâ— they have the sole Manufacture of plain Silks such as Tassatiâ—s Sarcâ—neâ—s c. which arâ— brought from India cheaper than they can make at home Holland Flanders and Francâ— in some measure have the principal Manufactures in fine Linnens Cambrickâ—s 〈◊〉 and Hollands which only Callico works upon to the putting them very much out oâ— request even in their own Countries Whereas Callico doth not much prejudice ouâ— strong course sorts of Linnen made in England Neither is our Linnen Manufacture a matâ—ter worth the taking notice of whatever some men think but in Holland Flanders France and some parts of Germany 't is their main concern being the subsistance of the Majâ—ritâ— of their People as the Woollen Manufacture is in England 3. The Dutch have a standing contract with the King of Persia for all his Silk now in reâ—gard Bengal Silk can be brought cheaper then that the Dutch by bringing Silk from Bengal must prejudice that Contract in the price of Silk Whereas We having no such Contract in Persia do not work upon our selves as they of necessity must and yet they are wiser thâ—â— to slight the Trade of Bengal for that cause For a Conclusion to shew present and future Ages in what a Condition the English East-India Trade stood when the Company was assaulted by the private designs of particular Men the following Account of the present posture of their Affairs in 1681 is added viz. The last year they sent out which are not yet returned for the Coast of Cormandel and the Bay of Bengall four three Deck Ships the least whereof was burden 530 Tuns For Surrat and the Coast of India 3 three Deck Ships the least thereof Burden 450 Tuns For Bantam 2 Ships each 600 Tuns For the South Seas and China 2 Ships one 430 Tuns the other 350. And in all of them the Stock of 479946 l. 15 s. 6 d. This Year 1681 they are sending out for the Coast of Cormandel and the Bay of Bengall 5 three Deck Ships the least thereof 460. Tuns For Surrat and the Coast of India 3 Ships the least thereof 460 Tuns For Bantam 3 Ships two of them 360 Tuns a peece the third 600 Tuns And for the South Seas and China one other great Ship.
A DISCOURSE CONCERNING TRADE And that in particular of The East-Indies Wherein several weighty Propositions are fully discussed and the State of the East-India Company is faithfully stated THe Author craves leave in the first place to present the Reader with some gâ—â—neral Opinions concerning â—rade which experience hath recommended to thâ— approbation of the most Iudicious 1. That trading Merchants while they are in the busie and eager prosecuâ—tion of their particular Trades although they be very wise and good men are not alâ—ways the best Iudges of Trade as it relates to the profit or power of a Kingdom Thâ— reason may be because their Eyes are so continually fixt and their Minds intent upoâ— what makes for their peculiar gain or loss that they have not leisure to expatiate or tuâ—â— their thoughts to what is most advantagious to the Kingdom in general The like maâ— be said of all Shop-keepers and other Trades-men until they leave off their Trades and by the purchase of Lands become of the same common Interest with most of theiâ— Country-men 2. Upon the same reason a mixt Assembly of Noble men Gentle-men and Merchants are the best Constitution for the making Rules Orders and By-Laws for the carrying on any Trade for the publick utility of the Kingdom 3. That all Trade domestick or forreign that doth not in the result increase the value oâ— Land ought to be totally rejected 4. That all Monopolies are destructive to Trade and obstruct the increase of the value of our Lands and that therefore if there be any thing in any Charter of Incorporateâ— â—â—â—chants that hinders any of their Majesties Subjects from coming into that Trade 〈◊〉 as good terms as others did or yet may it is fit that such bars should be removed 5. That if all Strangers had free Liberty to enter into any of our Incorporated forreign â—rades as is practised by the Dutch it would greatly increase our Trade and improve 〈◊〉 value of Land. 6. That those narrow Clauses in the Turkey Companies and other Charters which limit 〈◊〉 Traders to be Free-men of London and not to be Shop-keepers c. And the practice of 〈◊〉 no Man to be free of the Turkâ—y Company under 25 l. if he he under 25 years of 〈◊〉 or 50 l. if above are to the prejudice of the Nation in general 7. The Dutch Nationally speaking are the wisest People now extant for the 〈◊〉 and carrying on their Trades for the publick advantage of their Country 8. That the dominion of the Sea can never be retained preserved and maintained but 〈◊〉 the excess and predominency of forreign Trade 9. That domâ—stick and forreign Trade as also Land do wax and wain together 10. That Silver and Gold coined or uncoined thoâ— they are used for a measure of all â—â—her things are no less a Commodity then Wine Oyl Tobacco Cloth or Stuffs and may 〈◊〉 many cases be exported as much to National advantage as any other Commodity 11. That no Nation can be considerable in Trade that prohibits the Exportation of â—ullion 12. That it is more for the publick advantage to export Gold or Silver coined than 〈◊〉 for by the former we gain the Manufaâ—ture 13. That whatever Nation hath the lowest interest will certainly have their Lands in â—ighest esteem and price and no Nation shall ever over-match the Dutch in Trade till they mate them in the rate of Interest Money 14. That the Dutch gain more by exportation of Bullion and forreign Commodities â—â—an by all their own native Productions and Manufactures 15. That when ever wise and great Nations having different Interests and various forms of Government do yet conspire in the same means to accomplish the same ends of Profit Power and Honour they are to be concluded nearer the right way to those ends â—hen the wisest and best private men living who hold contrary Opinions swayed by personal Profit oâ— Loss Pique or Prejudice 16. That there is just as much need of Companies of Merchants in England as in Holland and no more The Dutch have no Companies of Merchants but those of the East and West-Indies and those in joynt Stocks protected and defended by the Laws of the Provinces which are of the same force as Acts of Parliament with us 17. That there is a necessity of a joynt Stock in all forreign Trade where the Trade must be maintained by Force and Foâ—â—s on the Land and where the King cannot conveniently maintain an Amity and Correspondence by Ambassadors and not elsewhere To proceed the Propositions intended to be handled follow First That the East-India Trade is the most National of all forreign Trades Which is thus proved viz. 1. WHat the Dutch French Danes Portugals and which not long since the Swedes and now the Duke of Brandenburgh have with so great charge anâ— expence attempted and hedged about with Laws and Encouragements must certainly bâ— matter of the greatest National Consequence 2. This Trade imploys more great War-like English Ships from 50 to 70 Guns theâ— all the Trades of the World from England besides 3. This Trade alone furnishes us with Salt-Petre a most necessary Commodity 4. Above four fifth Parts of the Commodities imported by this Trade are again exâ—ported to the vast encrease of Navigation by the returns of which more than treble the Bullion is imported that was first exported to India 5. If the 〈…〉 the East-Indies were not in English hands the East-India Commodities would come in from Holland and that with this diâ—ference that we should pay as much for Pepper now sold for 8 d. the pound as for Nutmegs Clâ—ves Mâ—â—e Cinnamon which is from 6 s. to 15 s. per pound which tho' cheaper at the places of their growth the Dutch enhaunse by having the sole Trade for them this saves the Kingdom in that respect only 50â—000 l. per annum 6. This Trade doth more work upon the Manufactures of our Neighbours than any other forreign Trade and whatever weakens them enriches and strengthens England it is reasonably computed that Italy France Holland Flanders c. the Staple Countries for Silks and fine Linnens by the Importation of East-India Silks and Callicoes not only into England but from thence into those Countries are abated in those fine Manufactureâ— above a Million of Pounds Sterling per annum 7. It is thought that above 40000 Families in England are employed in Silk-broaâ—â— weaving tho' that Trade began here but about the beginning of King Charles the first In a few Years more this Nation may be treble the number in such Manufactures since 〈◊〉 East-India Company bring Râ—w Silk cheaper then it can be afforded in Turkey Franâ—â— Spain or any other place where it is made and do serve Holland Flanders and somâ— other Markets from England 8. This Trade pays the King 60000 l. per annum Custom and carries out yearly 60 oâ— 70000 l. in Lead Tiâ—n Cloth Stuffs c. of our own Production and Manufacture which would not be