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A87931 A letter from a member of the parliament of Scotland to his friend at London, concerning their late act, for establishing a company of that kingdom, tradeing to Africa and the Indies Verax, Philanax. 1696 (1696) Wing L1413; ESTC R231897 12,420 20

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whereas our present King doth not only penetrate into what is just but hath also a Nobleness of Soul to execute with an impartial Hand what to him seemeth to be so And that the giving his Royal Sanction to this Act was the effect both of his Justice and Gratitude is plain from the natural Regard which in Reason we must needs suppose him to have had to our frank and seasonable Services when in themselves they were most Valuable and when indeed he stood most in need of them Obj. But you say the Out-cry is That these are such unprecedented Concessions and Exemptions as never were or ought to be granted by a Prince to any Society or Company of Traders in the World Ergo Hah Is the Hue and Cry got up then I am glad of it For certainly the Great the Grave and Wise Men of the Nation do never joyn in that Chorus But to be more serious 'T is true that these Concessions may seem somewhat strange to a People whose Wealth Capacity Naval Strength Forraign Possessions Plantations Forts and Universal Settlements want no more to carry on what Trade soever they please than to will and to execute But on the other hand if they look upon Scotland and consider it as in it self it is deficient to a degree of Extremity in all the necessary Qualification of Trade above-receited they must owne of course that nothing less than these Concessions and Exemptions could give this New Company a prospect of so much as a Possibility of ever grappling with such infinite and almost insuperable Difficulties as they and indeed all other Beginnings must necessarily encounter with so that if such Exemptions had not been granted we had as good have erected no Company And as to these Concessions being without Precedent I will not pretend to give an Instance of any that are exactly the same with the Privileges contained in this Act but if I let you see much greater I hope that may serve the turn Nor to do that need I go so far from Home as to search into the Records of other Nations such as France Holland Denmark others who have given illimited Powers vast Encouragements to their respective Tradeing Companies but even in Scotland when we could not be presumed to have had any great Notions of Trade about Thirty five Years past upon the Restauration of King Charles II. in his First parliament and the several Sessions thereof before the French King had time to plant his Janizaries in the Court of England there were several Acts pas'd in favours of Trade and Manufactories with Priviledges and Exemptions far exceeding any in this Act with respect to the Purposes for which they were granted Mutatis Mutandis And that I may not seem to speak altogether without Book I shall give you an Instance of one for all namely the Act Pass'd in the Year 1661. For the Fishings and Erecting of Companies for Promoting the same which being too long to be transcribed I send you by way of Poscript a short Abstract of the most considerable Privileges and Exemptions therein contained as they stand in order in the Act it self and all these were granted for perpetuity Whereas all the most important Concessions in this late Act are limited some to Ten some to Twenty one Years in which time God knows we must run very fast to come up with any of all our neigbouring Nations who have started so long before Us. Now let us further compare both the said Acts and the Purposes for which they were severally intended and then with respect to this last we must think of going we know not whither undergo the Danger of boysterous Storms and long Voyages with which we are not acquainted tye up our Stomachs to strict regular and unaccustomed Diets prepare against the Effects of quite contrary Climates and there purchase Plantations Collonies Settelments and build Forts c. Yet as to the Time when all this will happen he must be a wiser Men than I that can tell But as to the former Act for the Fishing c. all Matters thereunto relating were to be transacted in view of our own Doors and in our own Power But then you 'll ask me How it came to pass that this excellent Constitution for our Fishings has had no better Effect Why truly I 'll tell you For the very same Reason which may possibly prove the Overthrow of this New Undertaking which God forbid if we have no better luck in getting honester Men at the Head of it For the Dutch who have got most of their Wealth by Fishing in other Mens Waters looking upon us then with a zealous Eye found a way as it was then believ'd to grease a certain Great Man in the Fist who thereupon embarqued himself and all his Friends with all his Might on our Bottom and who being once at the Head of all thwarted all over-rul'd all and ruin'dall For the Honest and Well-meaning Men finding themselves no other than Cyphers grew wearied and so gave up the Cudgels By all which you have a plain Demonstration and Proof That what may do in one Nation will not do in another But I 'm resolved to wait with Patience and hope for the best Exitus acta probat the meaning of which is in English The Proof of the Pudding is in the eating Ob. But then you say the unanswerable and thundering Dilemma which these Grumblers would seem and do actually boast to fasten upon his Majesty is That either he must retract what he has done by some publick Mark of his Discountenancing this New Company or otherwise he cannot in reason deny the like Concessions to the several Trading Companies of England who have so largely contributed towards the Expense of this present War Answer This is truly the most plausible Difficulty of all that 's offered and such a Noose as may readily catch Larks but will never gravel the judicious part of Mankind more than any of the former as being all of one piece The better to obviate which I shall give you a plain easie just and adequat Parallel in the like Case As for Example Supposing me Lord of a considerable Mannour producing abundance of Corn Hay Fruit and having all the marks of a fertile and well cultivated Soil which I have Lett to Farm for a certain Annual or Yearly Rent which Rent I have by Contract of Marriage appropriated to the Payment of my Wife's Joynture in the interim there comes to me an Under taker with a Proposal That whereas I am also Proprietor of a certain piece of unprofitable waste Ground together with some Acres of Land quite under Water both which yield me no Rent he will engage at his own Hazard Labour and Expense to cultivate the one and drain the other providing I grant him a Lease thereof free of all Rent for Twenty one Years to which I readily and reasonably assent as foreseeing the Advantage that must thereby accrue if