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A38638 An essay towards a scheme or model for erecting a National East-India joynt-stock or company more generally diffused and enlarged for the restoring, establishing, and better carrying on that most important trade: fully discoursed in a letter to a Person of quality. 1691 (1691) Wing E3297; ESTC R215599 44,400 34

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two Lord Chief Justices Lord Chief Baron Master of the Rolls and the rest of the Judges three of them to be a Judicature of which one of the Chief Justices Chief Baron or Master of the Rolls to be one and seven for an Appeal whereof two of the former Four to be present and to act in a summary way somewhat in the Nature of the Court at Cliffords Inn after the Fire of London which gave such general satisfaction and prevented vast troubles and expence This is proposed in regard it seems hard for a poor man to commence a Suit against so great a Company according to the present Practice of the Courts at Westminster as also in that India is at so great a distance that the Proofs tho plain enough to create a firm belief and assurance of the Fact or the contrary yet not such as may pass for legal and those Causes may be and generally are so mixed as not properly to be taken Cognisance of wholly in any one particular Court and besides this will put a quick end to all such Complaints that they may not lye undetermin'd either to the Prejudice of any of the Subjects of England or the ill Fame of the Company as has been too much seen hitherto 19. That the Company be answerable for whatever grand Abuses which the aforesaid Court are to judge of shall be acted by their Chiefs in India towards the Subjects of England if they shall refuse to send for them home upon such Complaint which seems but reasonable otherwise none can have Justice against them till they do come home which will greatly obstruct Right and Justice and this will oblige their Servants to a better deportment abroad and the Company to take care not only for good Security but also that their chief Servants be of a better sort of People for Principles Prudence Abilities Conversation Education and Extract than hath been of latter days 20. That upon any Action or Suit brought against them the Company be obliged to give Bail as single persons and omitting or refusing the Governor may be attached in person it being but reasonable tho a Corporation and fo great an one that they should be so liable in regard that all whom they sue are obliged so to do whatever their Estate be and if it was so with all Corporations it would silence many Complaints prevent some Suits and much trouble to the Subjects of England 21. That no Portion of Stock in the Company of any Persons whatever or any Dividend thereon be at any time stopped seized hindred either in transferring the one or paying the other upon any pretence whatever but by a due Course of Law and that all Transfers shall create a legal Right 22. That no Goods of any Persons whatever be at any time without due Process at Law stopped or Delivery be denied by them in their Warehouses upon any Pretence or Demand that may be made thereon sufficient Bail being offered or given and the due Charges of Ship Custom Wharfadge Warehouse c. paid or legally tendred this is the more reasonable in regard the Owners of Ships are under Obligations for all undue Actions to the Company and then their Actions upon breach of Charter in this new Settlement will be legal and it will prevent the many Clamors that are usually heard of the great Losses and Damages that men have often sustained for want of their Goods in due time and sometimes kept from them merely from an Humor o● Pique of the Officer or to pleasure some Friends having of the same Goods with time ●o 〈◊〉 of them e●●e those other Goods can be delivered 23. That all Persons qualified through●● as before for a Committee-man have libe●ty at a●l seasonable times to repair unto any of the Offices of the House and inspect Affai●s and Transactions for their satisfaction 24. That all Goods of any considerable Moment be sold at publick Sale by w●y of Auction and none by private Contract unless for Use of the Crown or such Publick Occasions and in such proportionate Lots as may best consist with the occasions of the generality of B●yers as mostly not exceeding 1000 l. or less than 5 or 600 l. tho some may 25. That it would be convenient some Provision be made for the preventing those many unhappy Marriages and Unchristian Mixtures too frequently made by Englishmen in India to the great dishonour of our Religion and reproach of the Nation Therefore that no Englishman being a Protestant be permitted to marry with any person of the Country being a Papist or not a Protestant a thing hitherto too much practised and that if any person in their Service shall marry with any of the Country that is not born of European Parents on both sides being Musteeches or others tho Protestants yet they shall never while so married be capable of any Office considerable civil or military that they never be of the Councel in any Factories but may be assistant to them nor in any military Office above a Corporal and those already married as before not to be advanced beyond a Serjeant nor any of the Factors so married and while so that have not been Chiefs already ever to be Chiefs but may be in any other Office in any the Factories save of Councel in the upper chief Factories and those that have been Chiefs tho married as before may yet be so in some under-Factories but never to rise higher and somewhat of the same Nature to be observed as to Seafaring Employments Great care should be also taken of the Factors and Servants they sent abroad both as to their persons that they be not mishapen or of ill Looks but comely Countenance and good Demeanor more especially such as appear at Courts and likewise as to their Qualities of liberal Education docible Tempers good Abilities and quick Parts sober free from Vice that have not spent Estates in lewd debauched ways especially common Gamesters or men addicted to Gaming who of all persons are of most prenicious consequence among great Negotiations and Entrustments therefore such upon no account to be permitted but to be absolutely discouraged I proceed to a word or two concerning the Presidencies to be set up in sundry parts of the Realm as before noted pag. 9. Which in the main must be conformable to the foregoing Constitutions and are to act in Conformity to the grand Chamber of London with whom there must be a constant entire Correspondence and unto whose Direction and Orders in all grand and needful Affairs submission must be given and in truth there may many things in the Course of Commerce occur which at present may not be provided against and therefore must be left to the Guidance and Conduct of the chief Chamber upon recourse to them by the said Presidencies but some few things at present necessary to their Erection shall be noted viz. 1. That in each of these Presidencies there be a general Court once in the
Governor Master Deputy Warden or Committee fo●three years or until all the Accounts of the said present Company be adjusted and cleared both here and in India lest there be any interfering or hindrance in the progress of setling and carrying on the Affairs of the new and concluding those of the old Company IV. Concerning the Executive part of the Management which may come under the following heads of directions or such like viz. 1. That there be a Governor or Master three Wardens or Deputies and Twenty Four Committees chosen by the general Court of Adventurers who shall upon entry on their Office take a Corporal Oath for the true and faithful discharge of the said Office and Trust committed to them and refusing such Oath another to be chosen in his stead and this Method agrees with most of the Companies in London and hereby the Wardens being more the work will prove the easier and yet more constant Attendance may be given as well at the House as upon Affairs abroad than heretofore could be done 2. That besides the Twenty Four Committees there be yearly chosen three Honorary Committees Hereditary Peers of the Realm by Descent and qualified thereto by the Quantity of Stock and according to the second Article in preceding Head and these being that their greater Affairs will not permit so constant attendance are not to be obliged to the Rules so strictly as others nor to take any Oath but to act upon their Honour 3. That the Governor or Master and three Wardens or Deputies be Quadrinnial one of them going off every Year as the Governor the first Year the upper Warden succeeding him and the second Warden him and so the third in whose place another is chosen yearly who may be the former Governor or a new Man or rather that the Governor or Master to be chosen yearly and the Wardens to be Triennial one going off every Year and this last seems nearest the way that is taken of many or most of the Companies of London and hereby a Person of any Ingenuity will in the said three Years be thorowly versed in all the governing Affairs of the Company 4. That from among the Committees six Persons or so many as shall be convenient be singled out to whom together with the Wardens particularly be committed the Charge Care and Management or Supervisorship of all the Offices of the House as that of the Treasury Accounts Auditors Marine and House-Stewardships Husbands Secretaries Warehouse-keepers c. Each having his peculiar Province assigned and to each of these may be joyned in the ordinary Management and Execution of the said Offices two or three more of the said Committees and these Six or so many as may be judged convenient with the Governor and Wardens may be as a small Senate or Court of Aldermen who may have the Management of the lesser ordinary Affairs and much of the executive part of the whole and prepare all Matters for the great Council Days when the Committee or Court meet which may be generally twice in the Week and may also have their Councils apart tho any of the said Committee-men may assist at all times and this may be called the Committee or Council of Ten or so many as shall be the Number and the other the Court or the Assembly or Committee of Thirty one or so many as their full Number is Now these Six may be chosen every Year New or go off triennially Two one year and Two another and to succeed in the Officers of each other and so two new ones chosen or the same again out of the twenty Committee men who with the Governor one Warden as likewises three Honorary Committees shall be yearly new chosen as before who may all be new Ones or the same again This way will fit and qualifie such Persons for the more full understanding of all the Affairs of the Trade and House-Offices and thereby capacitate them the better for being Wardens and Governors and may prevent much of that ignorance which now seems to lodge in most of the Committee-men touching their whole Affair more especially if they be obliged upon their going off to render an Account to the Council of Thirty One or Court of their Trust These Six ought to give more constant attendance and be consider●d accordingly and the rest of the Committee-men ought to be at a Court before it sits and stay the whole time or to lose their Praemium which will give them more insight into the business and prevent that customary way of stepping in only to shew themselves merely to have their Reward 5. That the Committees Wardens Deputies Governors or Masters be men of considerable Fortunes that come not in merely to raise themselves an Estate and have not a multitude of other business either publick or particular upon their hands that so they may more calmly and constantly attend and have this Affair more upon their Spirits and make it their Work 6. That the Governor Master Wardens Deputies Committees and all Officers of the House or to whom any Trust in the Management is committed be all of them Protestants and natural born English men of the Third or Second Descent at least which may be a means to secure the Counsels and Orders of the Court from being betray'd to Foreigners and if to that end all professedly Dutch Merchants were excluded it might not be amiss 7. That none of the late chief Managers more especially that not any of those Sixteen Persons if they should be spared by the Hands of Justice concerned in the signing and giving Instructions for the putting to death the Subjects of England at St. Helena or any that were instrumental in procuring Orders from the late Kings for erecting a Court Martial there or in India be ever permitted or be capable of being chosen Committee men Wardens or Governor or any Officer in trust for the management of the New Companies Affairs or be a voting Member in the general Court and if any suspected thereof shall tender himself for a voting Member or be chosen to any Office as before that ere he be admitted he clear himself by his corporal Oath which Oath the Governor Master and Wardens or Deputies be empowered to administer and refusing such Oath or appearing by Examination thereof to have been guilty as before never to be admitted as a voting Member or into any Office which will be as a small commemoratory Penalty and may deter others from running into any such Extreams 8. That the Governor Master Wardens or Deputies and Committees be all of them Freemen of the City of London which will make a noble addition to the glory of that famous City by having an enlargement of eminent worthy Members whereby there will be the greater choice of Persons fitted for the great Offices thereof which seems at this day very necessary there being such a want of fit men that a worthy person was necessitated to take up his Freedom upon a