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A38195 An account of some transactions in the honourable House of Commons, and before the right honourable Lords of the King's most honourable Privy Council, relating to the late East=India Company together with the said companies new charter. England and Wales. Parliament. 1693 (1693) Wing E2503; ESTC R32900 21,455 28

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Granting unto the said Governour and Company and their Successors full Power and Authority to ask * With a Power to sue for and recover the same sue for and recover the same by all lawful ways and means whatsoever either in the Name of Us Our Heirs or Successors or in the Name of the said Company or otherwise as Law or Equity shall require or admit of and to retain the same to their own use and benefit upon under and subject to the Trusts Intents and Purposes herein after mentioned as fully and amply to all intents and purposes as if the said first Quarterly payment of the said Tax had been duely and regularly made into our Exchequer according to the said late Act of Parliament in that behalf * Provided that all the Manors Lands Goods and Estate of the said Company shall be and are made subject and chargeable with all their Debts to any persons as well Subjects as Strangers Provided always and it is intended and agreed and Our Express Will and Pleasure is That the said Governour and Company hereby constituted and their Successors and all the Mannors Lands Tenements Goods Wares Merchandizes Chattels real Chattels personal and other the Premisses hereby granted and confirmed or mentioned to be granted and confirmed and every of them and every part and parcel thereof shall be and are hereby made subject and lyable to and charged and chargeable with all and every such Debts and Sums of Money Duties and Demands whatsoever in Law or Equity which the said Governour and Company or late Governour and Company do now owe or are indebted or subject or liable to or which at any time before or on the said 24th day of March now last past or since did owe or were indebted or subject or liable to any person or persons whatsoever as well Our Natural Born Subjects and persons Endenized or Naturallized as Aliens and Strangers and that the same shall and may be Sued for and recovered in such and the like manner to all intents and purposes as if the said first Quarterly Payment of the said Tax had been duly and regularly made into our Exchequer according to the said late Act of Parliament in that behalf and as if the said former Charters had not been forfeited or made void And our further Will and Pleasure is and we do by these presents for us Our Heirs and Successours Grant unto the said Governour and Company or late Governour and Company of Merchants of London Trading into the East-Indies and their Successors That these Our Letters Patents and all and singular the Powers Clauses and Grants therein contained shall be and continue sufficient and available in Law and shall be construed and taken as well to the meaning and intent as to the general words of the same most beneficially and for the best advantage of the said Governour and Company or late Governour and Company and their Successors under and subject to the Proviso's Restrictions and Limitations herein and in the said former Letters Patents contained Notwithstanding the not mentioning or not true reciting of any former Grants Charters or Letters Patents heretofore Granted to the said late Governour and Company or any of their Predecessors by any of the late Kings or Queens of England or any other person or persons whatsoever or the not mentioning or reciting of any Castles Forts Plantations Lands Powers Liberties Priviledges Advantages or other matters or things in the said Grants or Letters Patents or any of them granted or mentioned to be granted or confirmed * Provided if the said Company do not on the 25 Decemb. next Pay 9300 L. into th● Exchequer for the last Quarterly Payment of their Tax t is Ch●rter shall be void Provided alwayes and these Presents are and shall be upon this Condition That if the said Governour and Company hereby Constituted shall not Pay into the Receipt of Our Exchequer at Westminster for Our Use upon the 25 day of December next ensuing the Date hereof the full Summ of Nine Thousand Three Hundred Pounds of good and lawful Money of England in lieu and satisfaction for the last of the Four Quarterly Payments appointed to be paid unto Us by the late East-India Company by virtue of the Act of Parliament herein before-mentioned for Charging of Joint-Stocks Then and from thence-forth these Presents and all things herein Contained shall cease determin and be utterly void to all intents and purposes any thing herein contained to the Contrary notwithstanding In Witness whereof We have caused these Our Letters to be made Patents Witness Our Selves at Westminster the Seventh day of October in the Fifth Year of Our Reign Pigott By Writ of Privy Seal FINIS
no East-India Company in any part of Europe have any such Shackles imposed upon them which would but hinder their Progress for the Publick Good and Honour of their Country in many Cases XXII Prop. That there shall be no private Contract for the Sale of any Goods but they shall be all Sold in Publick by Inch of Candle for the Companies Account XXIII Prop. That no Lott of any Goods to be Sold shall exceed the Value of 500 l. Answ These two are Novelties and such as were never imposed upon any East-India Company in Europe and are against Natural Right and if Establisht would tend to the National Prejudice of England as the Company doubt not to make evident to His Majesty by irrefragable instances and Examples Trade must be Free for the Publick Good otherwise it will Die or Fly away XXIV Prop. Every Year the Company shall deliver to their Majesties use 500 Tuns of Salt-Peter at per Tun if required the refraction not exceeding Ans The Company will always serve Their Majesties with Salt-Peter as Cheap as they can afford it and doubt not but to please Their Majesties therein as they have done all their Royal Predecessors But to be limited to a certain Price or Quantity or Refraction Is a Novelty that was never Imposed upon this or any East-India Company and it had been an unhappy Accident for England if such an Imposition or Constraint had been laid upon the Company 10 or 20 years past for if that had been done there could not have been one fourth part of the Peter in England as the Company had in Store which was about 3000 Tuns when this War with France begun There is a Famous Story confirming the Truth of this in the Reign of King James I. there was at that time a great Dearth of Corn which occasioned His Majesty to send for the east-East-Land Company and His Majesty told them That in regard of the present Dearth of Corn and for Relief of the Poor they must Load all their Ships homeward bound with Corn which they promised faithfully to do and were so dismissed but one of the Lords of the Council told His Majesty such a Promise signified nothing because they had not promised at what Rate they would Sell their Wheat when it came on which they were called in again and told the King was not satisfied with that Answer To whith the Deputy who was a Famous Hunter replyed Sir We will Freight our Ships and Buy our Corn as Cheap as we can and Sell it here as cheap as we can afford it But to be confined to any certain Price we cannot That Lord pressed the Deputy for a more certain Answer on which the Deputy said fur●her to the King Sir Your Majesty is a Lover of the Noble Sport of Hunting and so am I and I keep a few Dogs but if my Dogs do not love the Sport as well as I I might as well Hunt with Hogs as with Dogs The King replied Say no more Man thou art in the Right go and do as well as you can but be sure bring Corn. XXV Prop. That the Company shall Yearly Export to the East-Indies not less than the Value of 100000 l. in Goods of the Product and Manufactures of England Answ The Company may do this in some years and sometimes more and sometimes not so much when their Cloth lyes unsold and is eaten up with Moths and white Ants in India This ought for the Publick Good to be left to the Companies discretion XXVI Prop. That all Dividends be made in Money Answ This is commonly done here and beyond Sea in other Companies but some Instances may be given wherein it would be highly Prejudicial to make this Confinement of the Companies Liberty So it ought to be left to discretion as it is now here and in all other Nations XXVII Prop. That no Dividend be made without leaving the Original Fund or at least 1500000 l. besides what is necessary to pay their Debts Answ This is a Discretionary Rule the Company do now observe But was never Injoyned them by any Charter neither is there any Company in the World so Circumscribed nor ought to be for the Publick Good It is against Natural Right that any Men should be Barr'd from doing what they think fit with their own Estates XXVIII Prop. That the said Companies Accomptant keep a Book to enter the Value of the Stock upon Oath to lie Open for the perusal of all persons concerned XXIX Prop. That all Transferrs of Stock shall be Registred and Entred in a Book to lie open to all persons concerned Answ The 28 and 29 Prop. are Provided for in the same manner already by the Company XXX Prop. That the said Joint-Stock shall continue for 21 years and no longer XXXI Prop. That a Book of new Subscriptions be laid open for a succeeding new General Joint-Stock before the expiration of the said 21 years appointed for this Stock Answ This is so strange that if it should be admitted would make the Company Ridiculous all the World over and is as much as to say a Man shall be Obliged to Plant a great Orchard and Remove his Trees or Depart from his Possession at the end of 21 Years or to Build a famous Mansion-House a Town or City upon such Terms The Dutch Company have Spent within 30 or 40 Years past above 700000 l. upon Ceylon and have not yet seen their Principal by about 400000 l. to this day this Company have been Building and Fortifying at Bencolen about 10 or 11 Years and they must proceed in Building and Fortifying there for 20 or 30 Years to come and in that chargeable and dangerous Work they have spent near 250 l. to 300000 l. Sterling And though indeed by that necessary Work they have preserved the p●pper Trade to this Nation yet they have not Received any thing towards the Charge of these Disbursements and that Place will cost the Company 200000 l. more before it can bemade a complete secure and morally speaking an impregnable Asylum to the English Nation It is a most Impolitick Notion That any Company can Thrive by frequent Change of Conduct and Council any more than a Nation by often Changing the Fundamental Laws The Dutch Company stands as it did from the Beginning and the English hath never been Changed that the Company knows of but once in O. Cromwell's time and then it was done with their own consent The Company by the true Rules of Policy ought never to Alter nor any Man be Forced to Sell his Stock any more than he can be forced to Buy a Stock that hath none Or any Gentleman that hath an over-grown Estate in Land in any Countrey can be forced to Sell part to make way for some new Purchasers that pretend they will Buy Land in that Countrey XXXII Prop. That the Company be obliged for the better and more secure carrying on of this Trade to have Ships of their own