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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
late Choice of an Alderman and it is a very great Reproach to that great City that such as have had any hand in betraying its Rights and Privileges or are reeking with the blood of their worthy Fellow Citizens should be admitted by any want of more fit persons to continue or be put up for Aldermen it being also but reasonable that such as are chosen to this Work and Employ and do manage so great an Affair and Trade in the very City should also be of the City This will agree with the Constitution of the Turkey Company c. And every one so chosen to any the said Trusts and Offices shall before he be admitted to sit and within Twenty days after being so chosen if not a Freeman take up his Freedom of the City which shall be allowed him paying no more than the bare Fees at the Chamberlains Office and shall have the same Liberty in chusing his Company as those have that come in by Redemption But if such Person shall refuse so to do then after the said Twenty days expiration another qualified Person be chosen in his Room nor shall he be capable of being chosen again till he be actually a Freeman of the said City but that notwithstanding any Custom of th● City the Estates of such Persons shall upon decease go according to their Wills or the Laws of the Land in other Cases the contrary Custom of the City seeming only to respect Shop-keepers and Mechanick Trades and not Merchants 9. That there be a Committee of Inspections chosen every year by the general Court which may consist of seven Persons of whom three to make a Quorum or Committee these ought to be Persons concerned not less than Three Thousand Pounds each in the Stock and of great Gravity Probity and Experience and are to overlook all Transactions and have such Power as may be convenient and necessary for such an Office and every year to render Account to the General Court how they find things and may be of great use to keep all men to their Duty and thereby Affairs in good Order and Method 10. That some Persons of the Privy Council or other Persons fit for the Service be appointed by Parliament to have inspection into Transactions and upon any Emergency or grand Affair to have Session among them or be applied to and to have such Power as to the Parliament shall seem meet the Reason whereof is what a great Man in the present Company tells us from another That trading Merchants while they are in the busie and eager prosecution of their particular Trades Interest and Profit Philopatris primi altho they may be very wise men are not always the best Judges of Trade as it relates to the Profit and Power of a Kingdom Probatum est with a Witness present E. I. Company 11. That the Ports in India belonging to the English be made free to the Subject of England and made easie to others that so there may be an Accession and Increase of Trade for the more flourishing populating and strengthening the said Ports And that the Island of St. Helena be made a free Port for the refreshing of Ships they requiring now of some Ships Half a Crown the Tun and of others much more per Tun only for leave to water and take in some fresh Provisions And besides they upon the Island do want many Necessaries hence which if not sent them by the Company 's Ships of which it's necessary two touch there yearly outward therewith that other Ships may have Liberty to supply them that so they may not be destitute and under discouragement for want of such things as heretofore they have been to the endangering the Loss of the Island 12. That no Dividends be made above Twenty per Cent. at one time and not till there be at least Thirty per Cent. or sufficient in Bank more than the necessary Stock to do it with 13. That no Money be taken up in India or very little and that upon most urgent Occasions and but for some small time as till our Gold and Silver can be coined or such like Occasions it being about three times as dear as here and if occasion require it the same may be better done at home which will be easier to the Company and Benefit to the Nation and Kindness to particular Persons 14. That great Care be had for the Navigating part not only for incouragement in Trading but also that Voyages be so proportioned out that those Walls and Bulwarks of our Nation be not enfeebled and destroyed by unseasonable going out and overlong staying in the Country which has been a most unhappy Circumstance of late ruined many gallant Ships and destroyed a World of brave Men and from what Interest this has proceeded is easie to imagine For the Seafaring Party are never Friends to Arbitrary Power Tyranny Slavery or Popery 15. That in regard all humane Acts are subject to Error Imperfection and Decay therefore that at the End of Seven years or some such set time or as soon after as there shall be a Sessions of Parliament that a Report be made unto them by the Governor and Committee or the Committee of Inspections of the State of the Trade and if there be any Defects or Excesses in the Constitution or Settlement that Provision may be made accordingly and had this been done by this Company or another Society in the Nation there had not in all likelihood been any such Cause of Complaint against them or need of their being dissolved as at this day 16. That there be a greater Liberty for persons going over to reside in India of all Sexes than of later times has been allowed in regard it will be for the Enlargement of Trade in those parts and for the strengthening of our Interest and may be a means of setling in some advantageous Parts which for want of People we cannot now do 17. That all such convenient Authorities be intrusted with them as may preserve them as a Society in suppressing all Vice Debauchery Wickedness immoral irreligious Acts and for the doing of Justice between man and man the preserving Order refelling and subduing Enemies securing of Trade all agreeable to the Laws of this Land and suitable to a Corporation and so great an one at so vast a distance and such as may gain upon and not alienate the Hearts of the Subjects of England 18. That tho it be hoped there will no such thing happen yet if there should any considerable dispute or difference fall out between the Companies Chief and Council in India and any the Subjects of England or others inhabiting there as being under the Protection of the English for any supposed illegal Acts as Seizures Force Oppressions Fines Punishments or the like and Complaint be made thereof here that the same may be heard and determin'd by Persons delegated thereto by Parliament who may more properly be appointed by their Offices as the